Chief Risk & Compliance Officer (AIA Investment Management)

At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone.

It’s about finding new ways to not only better people's lives, but to better the communities and environments we live in. And we build on this every day with our ambition to engage one billion people to live Healthier, Longer, Better Lives by 2030.

And to get there, we need leaders with the courage, clarity and humanity to inspire, guide and support their teams to thrive every day - in the work they do and the life they live. Our leaders always have and will play a vital part in our journey to help more people live Healthier, Longer, Better Lives, build healthier societies and cultivate healthier environments that better everyone.

If you sound like that leader, read on.  

About the Role

Join us as Chief Risk & Compliance Officer at AIA Investment Management!

This position is accountable for all aspects of compliance, financial, investment and operational risk management across the company and the special purpose vehicles administered by the company (the “SPVs”), facilitates senior management’s understanding of the various types of risks and their inter-relationships; develops and manages the risk management and compliance systems; provides challenge and seeks information and explanations from senior management; and participates in key decision-making processes as a member of the AIAIM Executive Committee (Exco).

The incumbent will operate as the main point of contact between the Group and AIA IM or all risk and compliance related topics, working within (and contributing to) the governance frameworks of the AIA IM and the SPVs,

The Chief Risk & Compliance Officer is responsible for leading the risk and compliance function at AIAIM and overseeing the compliance and risk program within the Governance Frameworks of AIAIM and the SPVs

The incumbent will ensure that appropriate second line support is provided to the first line and to the Boards of AIA IM and the SPVs to properly implement the controls (i) embedded within the local policies and procedures as envisaged under the Governance Framework of AIAIM and the SPVs and (ii) reasonably designated to enable AIAIM and the SPVs to demonstrate proper risk governance and controls with the industry best standards and applicable local regulatory requirements.

The incumbent will actively participate in the end-to-end asset management business, including but not limited to investment due diligence process, on-going performance management and valuation methodology and assumptions particularly for private assets. The incumbent will provide constructive challenge to the investment team and implement world-class business practices.

Responsibilities

• Advise the Boards of AIA IM and the SPVs and the Chief Executive Officer on current and emerging risks to the organization and its business plan.
• Provide guidance and assurance to the ExCo as to the effectiveness of internal control, compliance and risk management processes and infrastructure.
• Ongoing contribution to the contents of the Governance Frameworks of AIAIM and the SPVs in support of the Boards of AIA IM and the SPVs
• Develop and maintain appropriate compliance, risk management and control systems across AIA IM and the SPVs with reference to relevant best practice, legal and regulatory standards and within the Governance Frameworks of AIAIM and the SPVs
• Chair the AIA IM management Risk Committee,
• Conduct regular risk assessments on financial, investment and operational risks.
• Support the core business service and continuity strategy, seeking continuous improvements in efficiency, service, and quality.
• Ensure that all staff have development plans with the aim of raising personal capability.

Lead the Compliance and Risk Function – Lead a strong compliance & risk function encompassing the following:

• The provision of compliance and risk support to AIA IM and the SPVs in line with MAS’ guidelines. In particular, the incumbent shall oversee monitoring and assurance activities including reviewing the actions taken by individuals and/or governing bodies and providing information reporting (both standardized and ad hoc) to any other individual or governing body.
  • The role includes: (a) facilitating senior management’s understanding of the various types of risks and the corresponding inter-relationships; (b) developing, with support from senior management, and managing the risk management system within the Governance Frameworks of AIAIM and the SPVs; (c) seeking information and explanations from senior management; and (d) participating in key decision-making processes as part of the AIAIM Executive Committee.
  • The incumbent shall have: (a) direct access to the Boards of AIA IM and the SPVs and full access to all employees and Company information necessary to fulfil his or her responsibilities;

• Implementation and administration of a robust risk monitoring program to ensure that all local monitoring activities are properly identified, documented, and performed under a risk-based approach with the monitoring results timely reported in accordance with the relevant local policies and procedures established under Governance Frameworks of AIAIM and the SPVs including applicable local regulatory requirements.
• Offer risk management advice to the first line to support the first line to make informed decisions and to anticipate, assess, control, and mitigate risks to which the business is exposed.
• Provide constructive feedback in relation to Investment, Operational, and emerging risk to AIAIM’s Executive Committee and Boards of AIA IM and the SPVs to further enable AIAIM management to take appropriate follow-up actions in a timely manner.

Oversee Ongoing Investment and Operational Risk Oversight –

• Provide feedback and, where appropriate, acknowledgements to the first line responsible for setting up the corresponding automated controls before such controls are implemented in the production environment.
• Provide feedback and advice to the first line on the due diligence processes and on-going monitoring on investment of private/illiquid assets, trading counterparties, services providers (e.g. custodians, brokers, valuation agents etc.), as well as external fund managers.

Perform Second Line Oversight of Errors & Breaches – Perform second line oversight of the handling and reporting of errors and breaches for AIA IM and the SPVs and coordinate with local regulator(s) in a timely and appropriate manner as and when required while covering the following duties:

• Provide second-line feedback on potential risk implications arising from breaches and errors (if any) as well as on the corresponding preventative measures in accordance with the local policies and procedures established under Governance Frameworks of AIAIM and the SPVs as well as the applicable local regulatory requirements.
• Manage independent fact-based investigations of errors and breaches in a timely and robust manner as and when required.
• Work with management to put in place appropriate follow-up actions to rectify common breaches (if any) and to avoid recurrence.

Perform Second Line Monitoring of Risks – Perform second line monitoring of risks via the controls embedded within the components of the Governance Frameworks of AIAIM and the SPVs (i.e. Policies, Procedures, Reporting, Monitoring, Assurance, Certifications and Training) while covering the following duties:

• Perform risk oversight and provide constructive feedback to the Exco, to further enable AIAIM to ensure that the risks identified are closely monitored and appropriately managed on a continual and timely basis.
• Serve as a critical risk oversight function within Exco to ensure that the Boards of AIA IM and the SPVs are kept informed of risk exposures on a continual and timely basis.

Collaboration and Communication – Build confident relationships based on trust and reliability with all relevant stakeholders while covering the following duties:

• Work closely with other members of Exco to address compliance and risk-related issues in a timely and appropriate manner.
• Facilitate risk awareness among employees throughout AIAIM considering the relevant standards, policies and procedures established under the Governance Frameworks of AIAIM and the SPVs including applicable local regulatory requirements.
• Work closely with the local Legal team and Investment Governance team and the Internal Audit team on compliance and/or risk-related issues, the Governance Frameworks of AIAIM and the SPVs and supporting the Boards of such entities
• Work closely with Group Investment Risk and Compliance function on group-wide risk and compliance initiatives that may impact the Governance Frameworks of AIAIM and the SPVs
• Provide second line feedback to Group Internal Audit on investment-related matters.

Requirements

• Master’s degree in mathematics, science, accounting, business administration, finance and/or risk management or equivalent (preferred)
• A degree holder in Legal, Risk Management, Business Administration, CFA, or related principles with solid experience in asset management business. For candidates with strong asset management experience, experience in risk management or compliance is not required.
• 15 years of working experience within an asset management business, including front-line and second-line experience. Relevant professional experience & designations (e.g., FRM, PRM, CIPM) is an added advantage
• Experience in dealing with regulators is an added advantage.
• Good knowledge and hands-on experience in investment compliance systems is an added advantage.
• Highly motivated self-starter, excellent organizational skills and strong attention to detail, conscientious and flexible good interpersonal and communication skills.
• Ability to handle multiple tasks, plan time and meet deadlines, collaborative mentality, along with the gravitas to work closely with senior stakeholders.

Believe in better with AIA. If you work at AIA, you play an important part in this movement. Which is why we give you every opportunity to learn, grow and shape your career - your way!

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Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

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