Business Risk & Independent Sales Audit Lead

As a Business Risk & Independent Sales Audit Lead you'd be able to work on and solve many interesting challenges which we are facing, learn new ways of working, and help build delightful high quality products for our customers.  

 

Job Description 

Business Risk: You will be responsible for supporting the product teams in risk and audit related items and be the main liaison between second line risk, internal audit, and external audit. You will also own customer security and fraud education with support from the relevant risk teams.

Independent Sales Audit: You will be responsible for hiring, training and management of a team of analysts to conduct post transaction checks on the sales of life insurance by the bancassurance sales force and determining their Balanced Scorecard Grading. Such grading will be presented in a sales governance forum which is led by your team. In addition, arrange for the mystery shopping exercise to be conducted with the relevant vendor.

 

The Role Responsibility: 

Supporting product teams in risk and audit

• Identify risk events, determine actions and follow through
• Guide teams on RCSA, perform control testing and support control testing automation
• Ensure adherence to product governance standards
• Track risk and audit commitments and their status
• Perform gap analysis on product and services against regulations
• Support teams on business continuity, third party management and tech assessments
• Maintain inventory of product owned systems and the roles and responsibilities

Main liaison between product teams and second line risk/internal audit/external audit

• For all risk stakeholders, be the point person to coordinate the ask between product teams and second line risk
• Work with Enterprise Risk for key risk indicators, risk metrics and committee submissions
• For internal and external audits involving product teams, to coordinate the requests, responses and follow up on actions required
• Collate and share audit learnings with product teams

Customer Security/Fraud Education

• Work with technology risk and fraud risk on scam/fraud trends and the education required to be sent to customers
• For certain risk related projects to be implemented relating to scams/frauds, own the implementation and monitoring of effectiveness

Independent Sales Audit

• Be familiar with the relevant MAS publications relating to sales governance (e.g. FAA-N20, FAA-G14, FAA-N16) and their accompanying documents
• For the team of analysts, ensure people with the right competencies are onboarded, train and coach them and ensure regulatory timelines are being met
• As per FAA-N20, for each regulatory quarter, determine the in-scope representatives and activities for post transaction checks
• Refine the guidance for post transaction checks as and when updates are required
• Determine the final Balanced Scorecard Grade for representatives which would include the process of appeals
• Perform training to the representatives and supervisors on the Balanced Scorecard methodology and adherence to the non-sales KPIs
• Following internal guidelines, work with the relevant vendor to conduct mystery shopping exercises and determine the remedial actions or escalations required
• Lead the Sales Governance Forum where results and escalations of checks performed by the Independent Sales Audit unit will be tabled
• Review complaints received by the bank regarding life insurance sales, perform investigation and revert to customer within defined timelines
• Take part in disciplinary hearings together with stakeholders from People, Compliance and Legal

Regulatory and Business Conduct

• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the product portfolio
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters

 

Role Specific Technical Competencies:

Skill	Target proficiency level
Knowledge of Financial and Non-Financial Risk Types and hands on experience in managing one or more financial or non-financial risks in a business or function.	Advanced
Understanding of Operational Risk Practice and Assessment of Operational Risks in Business Processes.	Advanced
Knowledge of Business Processes and controls in one or more business or functional areas.	Core
Knowledge of Risk Appetite, Risk Metrics, Control Self Assessments etc.	Advanced

 

   

Our Ideal Candidate: 

• Bachelor’s degree in Business, Finance, Risk, Accounting, or related field.
• Professional certifications preferred: CIA, CRISC, CISA, FRM, CFA, or equivalent compliance/risk credentials.
• 8–12+ years in risk management, audit, compliance, or governance within financial services (banking, insurance, or fintech).
• Strong exposure to product risk, internal/external audit coordination, and control testing (including automation).
• Proven experience leading independent sales audit or similar teams, ideally in bancassurance/life insurance.
• Familiarity with MAS sales governance standards (FAA-N20, FAA-G14, FAA-N16) and regulatory delivery.
• Skilled in Balanced Scorecard grading, post-transaction checks, and mystery shopping programs.
• Demonstrated ability to manage stakeholder forums, investigations, and disciplinary processes.