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.
The Quality Assurance Senior Manager is responsible for independently assessing the effectiveness of compliance-related processes, controls, and governance frameworks across the organization. The role provides assurance to management regarding adherence to regulatory requirements, internal policies, market conduct standards, and best practices.
The position leads and supports flexible, risk-based quality assurance activities whose scope may vary depending on regulatory priorities, emerging compliance risks, business needs, and Group guidance. Reviews may include regulatory gap assessments, thematic or deep-dive assessments, control effectiveness validations, and other assurance activities necessary to evaluate adherence to applicable laws, circulars, regulatory expectations, internal policies, and Group standards. The role also provides insights on emerging compliance risks, process weaknesses, control gaps, root causes, and opportunities for enhancement to support informed management decisions and continuous improvement.
Job Accountabilities
Lead Compliance Quality Assurance Reviews
- Plan and execute risk-based quality assurance reviews with flexible scope, aligned to regulatory requirements, Group guidance, internal policies, market conduct expectations, and other compliance-risk priorities identified through the Annual Compliance Plan, management direction, or emerging risk considerations.
- Perform end-to-end reviews of policies, procedures, controls, monitoring activities, management oversight, and operational practices.
- Assess design and operating effectiveness of preventive, detective, and corrective controls.
- Evaluate compliance with applicable laws, regulations, circular letters, regulatory expectations, internal policies, governance standards, and relevant Group requirements or guidance.
Support and proactively update the list of quality assurance reviews based on review traction, emerging considerations, and priorities identified for the mid-year and Annual Compliance Plan (ACP).
- Provide inputs to Compliance Officer or its assignee in completing the annual Risk Control Self-Assessment (RCSA).
- Actively participate/engage in providing inputs about areas for consideration during the annual planning sessions of the Compliance Department.
- Help the Compliance Officer in the preparation and completion of ACP paper for approval of Group Compliance, Executive Risk Committee and Audit Committee.
Align and discuss with the Quality Assurance Head, Compliance Officer, and other relevant stakeholders any regulatory breaches or potential compliance risks uncovered during QA reviews, including appropriate escalation, management actions, or follow-through, as necessary.
- Work with relevant process owners, stakeholders, regulatory teams, and Group counterparts, as applicable, in identifying and validating issues, assessing root causes and risk implications, and calibrating observations against applicable regulatory requirements, internal policies, Group Guidance, market conduct expectation.
- Prepare, review, challenge and endorse QA reports that clearly articulate findings, root causes, risk implications, and agreed corrective actions, while actively managing action owners, target timelines, and follow through to support timely execution and closure of remediation activities.
Ensure adherence of the work unit to compliance and risk management standards.
- Proactively contribute to meetings/workshops of local risk management to ensure risk topics are appropriately discussed
- Timely and complete submission of agreed deliverables such Monthly WLF Screening and annual periodic reviews as committed in the Annual Compliance Plan.
Ad-hoc and other Compliance Projects and activities
- All other assignments where the compliance functions are needed and relevant.
- Assist and coordinate Group reviews, as applicable.
- Lead and coordinate regulatory inspection, as applicable.
- Ensure compliance systems process integrity through regular reviews to ensure accuracy of data/information reported, e.g., CTR, STR Name screening alerts.
Job Specification:
- College graduate with Business, Accounting, or Law Degree.
- Compliance, Internal Audit, Risk Management, Internal Controls, Insurance Operation, Quality Assurance, Data Analysis.
- Unquestionable integrity to enable independence and objectivity.
- Strong leadership skills.
- Ability to work with minimum supervision and can act on own initiative.
- Understanding of the complexities of the business environment and can adapt to changes.
- Resourceful and with the ability to deal with ambiguity and other organizational complexities.
- Ability to handle pressure and unexpected responses from internal and external customers.
- Clearly, confidently, and competently express ideas, both in oral and in written form.
- At least three (3) years of work experience in internal audit or compliance preferably in a life insurance company.
- With leadership experience (Managerial role is preferred).
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.