Compliance Business Partner

The Role

The Compliance Business Partner – Philippines is expected to proactively support the Company to generate sustainable value, helping the Company to deliver good client outcomes, manage its conduct, protect against regulatory risk, and to maintain strong business and regulatory relationships. Reporting to the Compliance Director, Southeast Asia within a team of skilled compliance colleagues, the Compliance Business Partner – Philippines will champion compliance at all levels of the Business, partnering with, supporting, and providing pragmatic risk-based advice and counsel to relevant stakeholders, while ensuring effective challenge and oversight.

Responsibilities:

• Act as a professional and trusted adviser to the Business and ensure quality and proactive engagement at all levels by e.g. attending relevant meetings and supporting the Business in meeting its regulatory obligations.

• Partner with Business management in fostering a collaborative approach to embed a robust ‘compliance culture’ and to support WTW’s Three Lines of Defence model.

• Act as the registered Compliance Officer, Money Laundering Reporting Officer, Data Protection Officer, and primary point of contact with relevant supervisory authorities including the Insurance Commission, Anti-Money Laundering Council and the National Privacy Commission.

• Ensure timely and accurate regulatory reporting; respond to regulatory requests and enquiries; report issues and breaches where required.

• Maintain an efficient and independent Compliance Function and framework, apply suitable policies and procedures and develop appropriate controls.

• Carry out monitoring activities to test and provide assurance that the policies and procedures are appropriate, effective, and are being followed in practice.

• Own, maintain and deliver an annual compliance plan for the Company.

• Monitor regulatory developments through horizon scanning, assess impact and report compliance risks and issues.

• Collate and deliver accurate and appropriate compliance metrics and information to appropriate stakeholders, including Business management, and Group and Regional colleagues across WTW Compliance.

• Provide oversight and challenge the design and structuring of specific transactions, new products, services, operational procedures, change and initiatives.

• Ensure timely remediation and closure of compliance actions arising from investigations, regulatory examinations, internal and/or external audits, and reporting where required.

• Design and deliver compliance training to raise awareness of required business conduct and ethical standards across the Company.

• Provide compliance advisory and support to Manila Global Delivery Operations where required.

• Support ad-hoc strategic or operational projects as required, to be managed within quality standards and defined timelines.

The Requirements

• Bachelor’s degree in law, business, finance, risk management, or related discipline.

• 5+ years of experience in compliance, regulatory and/or auditing roles, preferably in insurance and financial services.

• Strong working knowledge of applicable laws and regulations issued by the Insurance Commission, Central Bank of the Philippines, Anti-Money Laundering Council and other relevant supervisory authorities. Experience engaging with regulators and managing regulatory examinations will be advantageous.

• Sound commercial awareness, with a good understanding of insurance business, and the ability to apply a pragmatic, risk-based approach to compliance management.

• Excellent interpersonal and stakeholder management skills, with the ability to communicate effectively at all levels and influence senior leadership.

• Ability to work both independently and collaboratively within a team, delivering results under pressure, to tight timelines, and with minimal supervision.

• Strong commitment to fostering a robust compliance culture and upholding the highest ethical standards. 

• Demonstrate continuous professional development and awareness of evolving regulatory requirements and industry developments.

WTW is an Equal Opportunity Employer