Purpose
Promotes an ethics-based culture, delivering practical solutions, guidance and training, identifies and manages Compliance Risks of higher complexity, implementing policies, processes and controls related to the Compliance Risk Universe of moderate complexity to complex. Interacts with supervisory bodies whenever required.
Key Accountabilities and Functions
Compliance Assurance
- Plan and Execute Compliance Reviews
- Develop and execute risk-based compliance assurance reviews and monitoring activities.
- Lead assurance reviews to assess compliance with regulatory requirements, internal policies, and Group standards.
- Prepare review scopes, work programs, testing approaches, and sampling methodologies.
- Evaluate the design and operating effectiveness of compliance controls and business processes.
- Identify control gaps, weaknesses, and non-compliance issues.
- Provide independent challenge and objective assessment of compliance risk management practices.
- Prepare clear, concise, and evidence-based assurance reports.
- Communicate findings, root causes, risk implications, and recommendations to management.
- Escalate significant issues and overdue remediation actions where appropriate.
- Monitor the implementation of agreed management action plans until closure.
- Conduct validation reviews to assess whether remediation actions adequately address identified issues.
- Maintain accurate records of findings and remediation status.
- Contribute assurance insights and findings to the Compliance Risk Assessment (CRA) process.
- Provide input on emerging risks, control weaknesses, and areas requiring increased oversight.
- Work closely with business units, risk, audit, and other assurance functions.
- Provide constructive challenge while maintaining effective working relationships.
- Support management in strengthening compliance controls and governance processes.
- Maintain assurance documentation, working papers, and evidence in accordance with established standards.
- Support reporting to management committees, Boards, and governance forums.
- Ensure assurance activities comply with the Compliance Assurance Framework and Quality Assurance requirements.
- Identify opportunities to enhance assurance methodologies, tools, and processes.
- Promote consistency, efficiency, and quality in assurance activities.
- Contribute to assurance capability building and sharing of best practices.
Shariah Committee Support and Engagement
- Attend Shariah Committee meetings and provide assurance-related insights on Shariah governance, control effectiveness, and compliance matters.
- Review and analyse papers submitted to the Shariah Committee from an assurance perspective.
- Monitor and follow up on Shariah Committee decisions, directives, and action items to ensure timely implementation.
Assessment of Potential Shariah Non-Compliance Events (SNC Events)
- Review incidents, operational issues, product matters, and business practices to identify potential Shariah non-compliance risks.
- Conduct preliminary assessments and recommend whether matters should be escalated as potential Shariah non-compliance events.
- Coordinate with relevant stakeholders to investigate incidents, determine root causes, assess impacts, and recommend corrective actions.
Shariah Advisory and Compliance Support
- Provide independent advice and guidance on Shariah compliance-related matters, including operational processes, products, business initiatives, and control frameworks.
- Support business units in understanding and implementing Shariah requirements, regulatory expectations, and internal Shariah governance standards.
- Promote awareness and consistent application of Shariah requirements across the organisation.
Additional Job Functions
- Assist other team members in other compliance functions.
Requirements
- 8 to 10 years of experience in the insurance or Takaful industry, with a focus on audit, review and assurance work.
- Bachelor’s degree holder or relevant professional qualification
- Shariah qualified or willing to take Shariah certification
We are committed to continuous improvement, and we offer access to a comprehensive range of training and development opportunities. Zurich is passionate about supporting employees to help others by getting involved in volunteering, charitable and community activity.
So, make a difference. Be challenged. Be inspired. Be supported, Love what you do. Work for us.
You are the heart & soul of Zurich!
At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking What can go right? We highly value the experience and know-how of our employees and offer a wide range of opportunities across business areas to encourage you to apply for new opportunities within Zurich when you are ready for your next career step. We’re proud to have earned Great Place To Work® Certification™. Our company culture is our top priority! #GPTWcertified