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Jeddah , Saudi Arabia
Posted 2022/03/20 16:39:24
Expires 2022-04-19
Ref: JB4496814
Job Description
- Maintain a constructive relationship with Bupa Arabia TPA key regulators for an effective regulatory risk management
- Establish an operating consistency with Bupa Arabia TPA regulators (mainly SAMA and CCHI) by sharing updates, seeking clarifications/advice and reporting market trends
- Ensure all regulatory queries/requests for information are addressed
- Maintain records of all interactions with regulators
- 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
- 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.
- Manage Compliance Monitoring assignments by establishing and managing the scope and approach to the work program 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
- 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
- Apply the policies of a Risk Based Approach for customers, products, services, and channels risk assessment from AML/CTF perspective including “Politically Exposed Persons”
- Manage cases related to conflict of interest and Business courtesies, enumerating sanctions issued by the United Nations Security Council and local sanctions issued by local authorities that apply to the TPA business
- Design and updated the AML & CFT questionnaire for correspondent banks or any third party
- Maintain and update sufficient record of all cases including laws, rules and regulations in AML/CTF database
Skills
- 3–5 years (not less than 3 years within the insurance industry and compliance area)
- 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 organized approach to planning, implementation and record keeping
- High level of attention to detail
- Take initiative and proactive approach to problem solving
- Time management skills
- Professional Certificate(s) in Compliance – CCO Certificate is a plus
Job Details
Job Location
Jeddah , Saudi Arabia
Job Role
Management
Preferred Candidate
Career Level / Band
Mid Career
Years of Experience
Min: 3 Max: 5
Nationality
Saudi Arabia
Minimum Degree
Bachelor's degree