Compliance (Tpa)

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia Bupa Arabia Full time
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
  • 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 followup 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
  • 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:

  • 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

  • Compliance (Tpa)

    2 months ago

    Jeddah, Saudi Arabia Bupa Arabia Full time

    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 -...