Manager – Compliance (TPA)

Role Purpose:

·   To adequately manage the relationships with Bupa Arabia TPA regulators.

·   To fulfil the duties of “Second Line of Defence (LoD)” effectively and efficiently in sync with Bupa Arabia’s TPA governance framework.

·   To ensure that Bupa Arabia TPA manages its regulatory risk, compliance and conduct responsibilities to agreed and approved appetites.

To support in managing the Speak-up program to ensure that the Speak-up policy is complied with and that it operates effectively and consistently across Bupa Arabia TPA

Regulatory Relationship Management:

·   Maintain an open, transparent and constructive relationship with all of Bupa Arabia TPA key regulators, as key part of effective regulatory risk management.

·   Establish an operating rigor with Bupa Arabia regulators (mainly the Insurance Authority), through visits, conference calls, forums, workshops, etc.… aiming at sharing updates, seeking clarifications/advice and reporting market relating trends.

·   Designate individual(s) who are responsible for communications with regulators.

·   Make sure that all regulatory queries/requests for information are responded to in a timely manner.

Adequately maintain records of all interaction with regulators including meetings, workshops, and correspondence

Regulatory Compliance Policies & Processes:

·    Identify regulatory requirements that apply to Bupa Arabia TPA businesses

·    Design and review policies, procedures, and requirements to oversee compliance with local regulatory requirements

·    Ensure Bupa Arabia TPA implements robust governance to oversee regulatory compliance across its businesses

·    Identify relevant regulatory changes and communicate them with management

·    Incorporate the methodology for mapping applicable regulatory requirements to Bupa Arabia TPA’s internal policies, processes, and controls

· Manage the procedures outlining the escalation paths for regulatory incidents according to their material

Regulatory Risks:

·       Assessment of the policies and procedures of Bupa Arabia TPA against any regulatory requirements or risks

·       Periodical review of Bupa Arabia TPA contracts against regulatory requirements related to regulatory outsourcing or regulatory risks

·       Ensure that regulatory licenses are proactively renewed 

·       Assist the Customer Service Department in handling the TPA customer complaints received and resolved and communicate to corresponding Bupa Arabia TPA stakeholders.

 ·   Report any regulatory developments which impact Bupa Arabia TPA’s businesses and assess the impact on Bupa Arabia TPA and readiness to comply with the new regulatory requirements

Compliance Monitoring:

·       Manage Compliance Monitoring assignments by establishing and managing the scope and approach to the work programme and resources assigned for the relevant process areas

·       Identify and review control weaknesses and deficient conditions, recommend corrections for unsatisfactory conditions

·       Manage follow-up processes covering all recommendations and ensure that management actions have been effectively implemented and  the risk is contained

·        Prepare and issue the final Monitoring report including the improvement program to management

AML and Combating Terorisim Financing:

·       Develop and update an AML and combating terrorism financing  policy and reporting procedures

·       Review and evaluate reports concerning large and extraordinary suspicious operations

·       Advice and assist the TPAs business in issue related to AML and Sanction risk

·       Review divisional and departmental policies and procedures with regards to money laundering and combating terrorism 

·       Strong knowledge in insurance, preferably medical insurance

·       Strong knowledge of TPA companies is preferred

·       Strong written and verbal communication skills

·       Able to work with diverse groups of staff, regulators and clients

·       Methodical and organised approach to planning, implementation and record keeping 

·       High level of attention to detail

·       Take initiative and proactive approach to problem solving