The opportunity

Reporting to the Asia Chief Compliance Officer (“Asia CCO"), with a matrix reporting line to the local Market General Counsel, this role is responsible for all aspects of the Manulife Philippines, Manulife Financial Plans, Inc., Manulife China Bank Life Assurance Corporation’s (“entities”) Regulatory Compliance Program, including, but not limited to, advisory, oversight, monitoring and testing, strategic planning and delivery of compliance initiatives to ensure that the entities’ business initiatives and projects comply with applicable requirements.

Responsibilities

• Responsible for the overall leadership of the Regulatory Compliance Management (RCM) Program for the Manulife Philippines, Manulife Financial Plans, Inc., Manulife China Bank Life Assurance Corporation covering all the compliance program areas including: anti money laundering and anti-terrorist financing; FATCA and OECD Common Reporting Standard; anti-bribery; sanctions compliance; fraud prevention; privacy; distribution compliance (including 2nd line oversight of distributor conduct and cross border sales compliance), regulatory change management, customer fair dealing, marketing material reviews, regulatory audits, compliance training, and implementing the Manulife’s legislative and regulatory compliance management framework within the entity.

This includes, but is not limited to:

• Defining the applicability of existing and emerging regulatory compliance requirements to the various department(s)/function(s)within the entity, and ensuring that the 1st line takes appropriate steps to meet these regulatory requirements, including by providing advice, 2nd level oversight and testing, and escalating issues to entity senior management where required;
• Overseeing and monitoring the implementation of the RCM program for the entity, including ensuring robust processes for identifying, preventing, detecting, and correcting non-compliance with applicable laws and regulations;
• Ensuring that regulatory risks are managed and that effective regulatory compliance management controls and process, including compliance policies and procedures, are in place to comply with local regulatory requirements and global standards; and
• Ensuring the effectiveness of the overall program is regularly monitored and assessed and that it continues to meet the needs of the entity and its regulator(s). This includes both:
• Overseeing the development and execution of Segment and Market-level 2nd line control testing programs to provide reasonable, risk-based assurance that the 1st line has implemented suitable controls to address critical compliance risks and that those controls are operating effectively; and
• Reviewing and evaluating the testing, monitoring and assessment completed by other second line of defence control functions and Line 1B.
• Manages and/or coordinates the entity’s interaction with the Insurance Commission (IC), Anti-Money Laundering Council (AMLC), Securities and Exchange Commission (SEC) and the Philippine Life Insurance Association (PLIA) on compliance issues, including examinations, inspections and reviews by competent authorities.
• § Directs the development of compliance awareness and training programs so that entity employees and management are knowledgeable of the Regulatory Compliance Management program, and other key compliance requirements, and that they are aware of their responsibility to report compliance breaches and issues, suspected fraud and other ethical breaches and improprieties, without fear of retaliation. Additionally, works closely with senior management to embed a strong compliance culture and set the tone from the top for all entity officers and employees.
• Develops the annual Compliance Work Plan which lists the entity’s Compliance priorities, targets and required resourcing for the coming fiscal year, along with measurable targets against which reporting can be carried out. Also, revises the compliance plan as appropriate in light of changes.
• Provides compliance guidance and advice to the entity on new projects/initiatives,new product development process, agency compensation, disciplinary processes, compliance with new regulatory requirements and other significant issues.
• Prepares clear and concise compliance reports to the Board, senior management and Asia Segment Compliance.
• Escalates significant compliance issues to the Asia CCO, entity General Counsel and the entity General Manager in a timely manner.
• Ensures that Manulife Philippines, Manulife Financial Plans, Inc., Manulife China Bank Life Assurance Corporation’s compliance requirements, controls, testing outcomes, issues, and Corrective Action Plans (CAPs) are accurately, fulsomely, and promptly recorded (for example, using Manulife’s Archer Database) for remediation and tracking purposes, and that processes for managing CAPs throughout their lifecycle are robust.
• Manages the local Compliance function efficiently, including ensuring that it is adequately resourced in terms of both appropriately skilled and experienced staff, and that budget and resources are appropriate.

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How will you create impact?

This role will be directly reporting to Asia Chief Compliance Officer.

What motivates you?

• You obsess about customers, listen, engage and act for their benefit.
• You think big, with curiosity to discover ways to use your agile approach and enable business outcomes.
• You thrive in teams and enjoy getting things done together.
• You take ownership and build solutions, focusing on what matters.
• You do what is right, work with integrity and speak up.
• You share your humanity, helping us build a diverse and inclusive work environment for everyone.

What we are looking for

• Independent mindset consistent with OSFI’s expectations that the compliance function will have and demonstrate the authority to carry out its functions independently
• At least 10 years of compliance, legal and/or audit experience in financial institutions strongly preferred.
• Expert-level regulatory knowledge, as well as a strong sense of the broader legal, regulatory and reputational frameworks applicable to a Global financial company.
• Strong commitment to diversity, equity and inclusion, and takes pride in building a Compliance team that brings together diversity of thoughts, perspectives and expression.
• Professional designation (LLB, LLM, CA or other) a definite advantage.
• Certification of Compliance competencies is an advantage.
• Strong English spoken and written language skills.
• Strong people leadership skills and the ability to lead a successful Compliance team.
• Excellent oral and written communication skills, and the ability to communicate and influence at all levels of the entity, including senior management, and with regulators.
• Recognized as a senior decision-maker on very complex compliance issues and projects.
• Understanding of regulatory requirements and compliance issues that impacts the entity.
• Ability to manage relationship with senior management and to manage the inherent conflicts that can exist between compliance and business objectives.

What can we offer you?

• A competitive salary and benefits packages.
• A growth trajectory that extends upward and outward, encouraging you to follow your passions and learn new skills.
• A focus on growing your career path with us.
• Flexible work policies and strong work-life balance.
• Professional development and leadership opportunities.

Our commitment to you

• Values-first culture
  We lead with our Values every day and bring them to life together.
• Boundless opportunity
  We create opportunities to learn and grow at every stage of your career.
• Continuous innovation
  We invite you to help redefine the future of financial services.
• Delivering the promise of Diversity, Equity and Inclusion
  We foster an inclusive workplace where everyone thrives.
• Championing Corporate Citizenship
  We build a business that benefits all stakeholders and has a positive social and environmental impact.