Overview

Head of Risk, Legal & Compliance Jobs in WP. Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia at AEON Insurance Brokers (M) Sdn Bhd

Title: Head of Risk, Legal & Compliance

Company: AEON Insurance Brokers (M) Sdn Bhd

Location: WP. Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia

Job Overview

We are looking for an experienced and highly motivated Risk, Legal & Compliance professional to oversee the organisation’s enterprise-wide risk management framework, legal affairs, and regulatory compliance obligations as a licensed insurance broker.

The successful candidate will play a key role in ensuring that the Company’s business operations remain aligned with Bank Negara Malaysia (BNM) requirements, Companies Commission of Malaysia (SSM), Malaysian Anti-Corruption Commission (MACC) regulations, applicable laws, internal policies, and industry standards.

This role will be responsible for proactively identifying, assessing, monitoring, and mitigating operational, compliance, and legal risks, while providing sound advisory support to management and business units.

Key Responsibilities:

Risk Management

  • Oversee the Company’s overall risk management function, including compliance risk, operational risk, and legal risk.
  • Establish, implement, and periodically review risk management policies, frameworks, procedures, and practices in alignment with regulatory requirements (e.g., BNM) and applicable legislation.
  • Oversee the development and execution of Risk Control Self-Assessments (RCSA) with business/support units to identify, assess, and measure inherent risks and evaluate the effectiveness of existing controls.
  • Identify and assess operational risk events and business continuity threats; implement control measures and develop key risk indicators to mitigate risks.
  • Act as the central custodian and repository for all risk-related frameworks, policies, and procedures. • Lead the Company’s Business Continuity Management (BCM) initiatives, including the development and testing of Business Continuity Plans (BCP) for critical units.
  • Provide advisory support to business units in developing risk-related documentation and practices that align with internal standards and regulatory expectations.
  • Ensure accurate and timely submission of risk reports to the Risk Committee, Board, BNM, and Group stakeholders (AFS and ACSM).
  • Perform any other risk management tasks as assigned by management.

Legal & Compliance

  • Manage the Company’s legal and compliance risk profile, ensuring all operations comply with applicable legal and regulatory requirements.
  • Establish, update, and maintain compliance-related frameworks, policies, procedures, and practices in accordance with laws and BNM guidelines.
  • Lead the execution of the annual Compliance Review and Risk-Based Assessment.
  • Monitor and ensure prompt resolution of regulatory, external, and internal audit findings.
  • Act as the custodian of compliance and legal frameworks, policies, and procedures.
  • Ensure all controlled documents are reviewed and updated in a timely manner.
  • Act as the custodian of legal-related documents and monitor expiring legal agreements, notifying respective Business Units.
  • Ensure timely internal reporting to the Compliance Committee and the Board, and external reporting to regulators and Group stakeholders.
  • Conduct internal investigations into potential policy breaches or compliance violations and recommend corrective/preventive measures.
  • Promote compliance culture through awareness initiatives and regulatory training programs.
  • Provide legal support across business functions, including reviewing, drafting, and vetting contracts, agreements, and other legal documents.
  • Advise management and business units on legal and regulatory matters, including but not limited to AMLA, PDPA, Companies Act, Financial Services Act, Insurance Act, and MACC regulations.
  • Perform any other legal and compliance tasks as assigned by management.

Requirements:

  • Bachelor’s degree in Law, Business Studies, Risk Management, or related field; professional certifications (e.g., CAMS, CIPP, CRMA) from recognized and accredited institutions are an advantage.
  • Minimum 5 to 8 years of relevant experience in Legal, Risk Management, Compliance, or a regulated financial services environment, preferably within an insurance broker or insurance company.
  • Strong understanding of BNM Policy Documents, Guidelines, and Practice Notes applicable to licensed insurance brokers.
  • Knowledge of regulatory frameworks relevant to insurance brokers, including AML/CFT, KYC, PDPA, Companies Act, Insurance Act, Financial Services Act, and anti-corruption (MACC) regulations.
  • Proven experience in legal advisory, compliance monitoring, risk assessment, and regulatory reporting.
  • Excellent written and verbal communication skills for reporting to management, Board, regulators, and external stakeholders.
  • Ability to work independently and collaboratively, manage multiple priorities, and mentor team members. • Professional certifications in Compliance (CAMS, CIPP, etc.) or Risk Management (CRMA, ISO 31000) are an advantage.
  • Strong analytical, organizational, and problem-solving skills with attention to detail and accuracy in documentation and reporting.

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