Senior Associate,Product Specialist, Product control

Business Function

As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business they were made just right for you.

Responsibilities

1. Compliance Oversight:

• Monitoring and ensuring adherence to all relevant insurance regulations and laws.
• Drafting, reviewing, and updating compliance policies and procedures.
• Tracking Master & Service Agreement, and POs for all Vendors for Investment Products.

1. Risk Management:

• Identifying, assessing, and mitigating compliance risks.
• Providing guidance and support to business units on effective risk management strategies.
• Overseeing audit activities related to governance and compliance.

1. Governance Framework Development and Implementation:

• Developing, implementing, and maintaining robust governance frameworks, policies, and procedures.
• Ensuring the effective and ongoing operation of these frameworks.

1. Stakeholder Engagement and Communication:

• Collaborating with internal and external stakeholders (including regulators) to foster a culture of compliance and good governance (eg. Record maintenance - MIR).

1. Data Privacy and Security:

• Ensuring full compliance with all applicable data privacy regulations (eg. Cyber security).
• Developing and implementing comprehensive data governance policies and procedures.
• Providing oversight of data privacy and security controls to safeguard sensitive information.

1. Project Management:

• Drive Projects with Internal & External Stakeholders to identify & improve control/compliance for insurance and investment products

1. Regulatory Updates and Adaptation (Investment & Insurance Products):

• Maintaining a current understanding of evolving regulations and industry best practices (Authorities like SEBI/RBI/IRDAI/APMI/AFMI).
• Conducting regular regulatory gap analyses to identify and address any discrepancies.
• Providing guidance on adapting to new requirements and ensuring ongoing compliance.

Requirements

• Awareness of Insurance and Investment regulations
• Historical working domain expertise on IRDAI / SEBI regulatory circulars
• Proficient in excel skills
• Experience 10-15 years
• Preferred qualification: Post graduate / graduate