Functional Area: CP - Compliance Estimated Travel Percentage (%): Up to 25%
Relocation Provided: Yes
AIG Philippines Insurance Inc
Job Description and Responsibilities for Local Compliance Officer (LCO), AIG Malaysia and Philippines Non-Insurance Entities
Job Description
1. Responsible for the overall Compliance function within the local organizations. This includes ensuring compliance to regulatory and internal AIG compliance requirements. This includes:
- Implement and ensure compliance with the organization’s compliance policies and procedures, having assessed and taking into consideration the business activities of the different entities.
- Uphold the compliance risk-based framework by identifying and assessing the effectiveness of controls in place via the Compliance Risk Assessment exercise. This includes engaging with business and functional support team and, where necessary, develops actions plans to address control deficiencies or gaps identified.
- Advise business on compliance-related matters in day-to-day operations. Including partnering with business and functional support team by providing solutions to business requirements to ensure continued business growth and success while adhering to regulatory and corporate requirements, and collaborate and engage with stakeholders on the development and implementation of key business initiatives.
- Keep Regional Compliance, Local Management and relevant Committees informed and updated of all related compliance matters/issues, including escalating reportable compliance issues in accordance with set timeframes and requirements.
- Liaise and coordinate with business and functional support team with regards to communication with regulators on compliance related matters, including as point of contact or coordinator for applicable regulatory examinations.
- As required, lead or assist with any special investigations that may be required to be performed.
- Ensure functional compliance budgets are managed in accordance with budget.
2. As necessary, undertake local compliance assignments or initiatives that may be led by regional/global compliance teams. Serve as a resource for both regional compliance function / and regional management on matters affecting country compliance programs.
3. Coordinate as required with the Compliance Testing team and report its results and/or findings to Local Management or relevant Local Committees. Monitor progress of management actions plans agreed during the monitoring and testing.
4. Establish a compliance culture by instilling awareness in day-to-day interactions and also ensuring completion of the AIG Compliance training programs.
Position Requirements
- More than 7 years of relevant experience in Compliance, Legal or Audit. Preferably in a financial services entity.
- Experience in working for a multinational, diverse, matrix organization.
- Approachable, self-initiator, problem-solver with the ability to confront issues diplomatically.
- Exceptional communication and interpersonal skills, with the presence and ability to interact and build credibility across all levels of staff.
- A professional educational background; preferably legal or audit qualifications.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.
