Head of Compliance

Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Job Accountability

• Oversight compliance and internal control functions including Regulatory Affairs (RA), Financial Crimes Control (i.e., Anti-Money Laundering - AML, Anti-Bribery & Corruption - ABC, Conflict of Interest - COI) and Market & Customer conduct (MCC);
• Act as PVA Compliance Officer for key contacting role with internal and external stakeholders including but not limited to regulator (i.e., insurance supervisory authority - ISA), authority officers (tax officer, commercial agency, labor authority etc.), key industry advisors or subject matter experts (e.g., Insurance Association of Vietnam – IAV, auditing/ legal/ risk & compliance advisory firms etc.);
• Coordinate with Legal department, Government Relation (GR) department in managing regulator relationship, lobby for new insurance related laws/ regulations development, gap assessment on new regulatory change and implementation review;
• Define & implement Annual Compliance Plan; Ensure an efficient compliance operation appropriate for Vietnam, and conduct compliance verifications/monitoring programs of appropriate scope and nature to ensure that compliance controls are operating effectively, according to regulatory, Group standards and requirements;
• Provide risk based inputs and challenge to an effective compliance plan to support for business growth but still ensure that business changes or initiatives are in line with regulatory requirements and regional policies.
• Develop succession plan, grow local / emerging talents and retain key staff;
• Support the PVA Audit Committee as secretariat;
• Other specific accountabilities for functional activities as described below:

1. Regulatory Affairs
Ensure regulatory compliance with applicable legislations, rules and regulations that govern insurance and related operations in Vietnam, as well as Group policies, standards, and international best practices for compliance operations; Provide leadership and direction to Persons in charge of the section to responsible for: Regulatory liaison and reporting; Material reviews to ensure product-related materials, advertising, marketing and sales promotion materials complied with regulatory requirements and Group policies; and Regulatory advisory and change management, in which facilitating requirements to internal stakeholders, and providing expert opinion to support the first line complied with requirements. Be a primary contact point for regulatory inspection preparation, site-visit and ad-hoc off-site requests; Lead cross-functional regulatory compliance random check (such as financial reporting/ tax declaration etc.); and Responsible for gap assessment on regulatory change and conduct post-implementation deep-dive for such regulatory changes.

2. Financial Crimes Controls – AML, ABC, COI
Ensure compliance with all relevant Anti-Money Laundering, Anti-Bribery & Corruption, and Conflict of Interest laws, codes, regulations, and standard of good practices, including Group and PVA policies & standards; Responsible for monitoring, reviewing & revising PVA policies, manuals according to Group & local regulation requirements; Develop methods /guidelines /tools to implement financial crime prevention, detection and correction programs to minimize financial crime risks; Provide adequate oversight and regular review on the first line to ensure the Company has effective control environment to minimize financial crime risks; Ensure an appropriate compliance training and awareness program in place for all stakeholders as required by Group and local policy; Promote initiatives to improve the effectiveness of compliance monitoring programs and take liaison role in Group & local Compliance strategic projects. As the Money Laundering Prevention Officer or by delegate: Provide leadership and directions to Persons in charge of the section to ensure full compliance with requirement regulations, Group & PVA policies & standards and accountabilities set out in GMLRO Handbook. Pro-actively in identifying and containing money laundering and terrorist financing risks; reporting suspicions; monitoring the business, procedures and controls; and fostering a compliance culture; Work closely with Regulatory Affairs team to manage relations with the anti-money laundering Authorities. As the Anti Bribery and Corruption Officer or by delegate: Provide leadership and directions to the Persons in charge of the section to ensure a robust ABC program has taken place, in line with Group and PVA policies & standards, with appropriate controls in place to manage the risks to the business; Ensure to provide regularly assess vulnerabilities and risks of bribery and corruption. As such, an effective risk-based approach in prevention, detection and measurement are implemented and maintained; Any allegation, suspicion or incidence of bribery and corruption within or against the Local Unit is properly investigated and that these incidents are reported without delay to the appropriate level of management; Regular liaison and communication with Group Compliance and Group Security is maintained to ensure that all incidents of bribery and corruption are reported immediately and that management information is provided as requested; and Ensure gifts and entertainment register is in place, reviewed and maintained properly.

3. Customer & Market Conduct
Ensure compliance with Market and Customer Conduct framework and ensure it would comply with Group risk framework and applicable under local context; Responsible to monitor, review & revise PVA policies, manuals according to Group & local regulation requirements, including developing criteria to measure conduct risk; Provide leadership and direction to Persons in charge of the section to responsible for: Distribution Monitoring: review of sales activities on different distribution channels including reviewing the outputs of social media monitoring, monitoring of agency quality performance statistics and agency office audits/ deep-dives; Sale surveillance: review of post-sales documents to identify mis-selling policies and surveil sale process to ensure compliance to customer conduct requirements (e.g., policies reviews, mystery shopping etc.); Distribution Business Partnering and Engagement: facilitate engagement on compliance topics for sales agents, leaders, general agency and review operational processes of first line business units; Responsible to be secretary of Sale Force Disciplinary Committee (SFDC) and responsible for: Review and revise SFDC TOR, document MoM and monitor required actions; Propose and maintain discipline policy, customer conduct policy & standards, e.g.: vulnerable customer), and monitor appeal process; and

1. Other assignment(s) as requested from time to time by PVA Chief Risk Officer.

Qualifications
Job requirements:

• University degree;
• At least 10 years relevant experience with audit, compliance or risk analysis/ assessment background, preferably in banking/ insurance industry;

Knowledge And Skill

• Strong analytical & critical thinking skills
• Advance Compliance assurance/ Audit Technical knowledge required while experience in Insurance and risk management/ financial crime management advance technique will be an asset.
• Strong written & verbal communication and presentation skills in English and Vietnamese
• Ability to build trust and rapport with all levels of the organization

• Office 365

• Leadership / Management / Execution Competency

• Hard-working, honest, trustable, customer service minded and responsible

• Ability to work under high pressure
• Management skills
• Open and business mindset
• Willing to take charge and leading works

Prudential is an equal opportunity employer.
We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.