Reporting directly to the Chief Executive Officer and with matrix reporting to Regional Compliance, APAC, the Compliance Officer serves as an independent second line of defence, ensuring compliance with Bank Negara Malaysia (BNM) requirements, applicable laws and regulations, and Munich Re Group’s Compliance Management System.
The role is responsible for leading the organisation's compliance framework and programme, providing independent advice and oversight to management, and fostering a strong culture of integrity and regulatory compliance. The successful candidate will work closely with stakeholders across Munich Re Retakaful (MRR) and the wider Munich Re Group while maintaining the objectivity and sound judgement expected of a senior compliance professional.
Your Job
- Lead the development, implementation, and continuous enhancement of the Munich Re Group Compliance Management System (CMS) for managing compliance risks at MRR which includes activities such as promoting a culture of compliance, carrying out compliance risk assessments activities, monitoring of legal changes, providing compliance staff training, performing compliance monitoring activities and associate compliance reporting responsibilities to the management;
- Assist Senior Management to implement appropriate internal controls and governance programmes to ensure compliance with Bank Negara Malaysia (BNM) requirements and applicable laws and regulations for MRR’s operations;
- Perform legal or compliance advisory work for internal stakeholders on a variety of legal & compliance topic having regards to the requirements of laws, regulatory regulations and Munich Re internal rules and guidelines; including contract review work;
- Serve as the designated Anti-Money Laundering/Countering Financing of Terrorism(AMLCFT) Officer to BNM. As AMLCFT Officer, you are responsible for leading and implementing the appropriate AMLCFT programme to ensure MRR’s proper compliance with AMLCFT law, regulations and BNM’s Policy Document requirements;
- Oversee compliance of the MRR’s Shariah compliance and governance requirements by working closely with the Shariah Committee, Management, and MRR’s Shariah compliance experts;
- Act as the Company's Data Protection Officer (DPO) and implement a robust personal data compliance programmes at MRR for adherence to the Malaysia Personal Data Protection Act 2010 and other applicable data protection laws, regulations or requirements; be the go-to person for internal colleagues on data protection related queries;
- For purposes of implementing an effective global Compliance programme of Munich Re Group and to ensure efficient operational function of the Global Compliance function, collaborate with Regional Compliance colleagues to carry out all the required Group Compliance initiatives at MRR;
- Perform regulatory liaison matters and handling request related enquiries and request for information;
- Perform any additional legal & compliance responsibilities as assigned by the CEO and Regional Head of APAC Compliance.
Your Profile
- Degree holder in Law, Compliance or a related discipline.
- Minimum 10 years of post-qualification experience in Legal and Compliance within the reinsurance, retakaful, insurance, takaful, or broader financial services industry.
- Strong knowledge of legal and regulatory requirements, data protection competencies and anti-money laundering & countering financing of terrorism experience, with working experience engaging regulators and overseeing compliance programmes.
- Excellent analytical, problem-solving, and critical-thinking skills, with the ability to assess complex regulatory and compliance matters and provide practical recommendations. Superior attention to detail, accuracy and completeness.
- Strong organisational skills and an ability to work independently and proactively.
- Strong written and verbal communication skills in English and Bahasa Malaysia, with the ability to effectively communicate and influence stakeholders at all levels of the organisation.
- Proficient in Microsoft Office suite of applications including co-pilot.
- A legal qualification or a track record of a collaborative and constructive relationship with regulators is advantageous.
- Knowledge and understanding of the Takaful and Retakaful business model, including Shariah governance requirements, would be an advantage.
- Proven leadership and stakeholder management capabilities, with experience leading compliance initiatives and promoting a strong culture of integrity and ethical conduct.
We see DEI as a business imperative, helping us to attract, grow and inspire a diverse, inclusive, and equitable workforce that better enable us to serve our customers, investors, and communities. Globally, we strive to build balanced teams across all aspects of difference. If you are interested in the role and believe you could contribute, we encourage you to apply even if your experience doesn't perfectly match every qualification.