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Compliance, Non Sales Practice Risk Advisory & Oversight Team, Head of team, GG13

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Date Posted: May 13, 2022

Location(s): Tokyo, JP

Company: MetLife

■職務内容:

1. Risk Oversight - Primary oversight responsibility that MLJ appropriately mitigates the following risks as outlined in the Policy. This oversight responsibility includes having competent associates (“risk coordinators”) perform risk identification, documentation of controls, monitoring and testing of controls, identification of control issues and working with the line of business in developing corrective action plans. These risk coordinators are responsible for inputting the required the documentation into the global governance, risk and control system. They are also required to follow the guidance from MLJ Compliance Risk Oversight.

  • Anti-Corruption – the risk that MLJ does not adequately control the giving and receiving of anything of value by its employees and third parties with applicable anti-corruptions laws and regulations.
  • New Business – the risk that MLJ fails to price, rate, and perform underwriting functions without the required regulatory filings or approvals; and that decisions for the issuance of new insurance contracts, the opening of new accounts, and the continuation of insurance coverage, do not comply with local laws and regulations.
  • Customer Disclosures – the risk that MLJ fails to provide customer disclosures and statements for sales activities in compliance with local laws and regulations.
  • Transactions Processing -- the risk that MLJ fails to process financial transactions and non-financial administrative transactions in compliance with local laws and regulations.
  • Claims Handling - the risk that MLJ fails to process and adjudicate insurance claims and benefit payments in compliance with local laws and regulations.
  • Complaint Handling – the risk that MLJ fails to establish and execute a consistent process to identify, track, report, or respond to customer complaints regarding products, marketing, or service in a manner that compliance with regulatory obligations.
  • Abandoned Property - the risk that MLJ fails to conduct accurate, timely, and documented due diligence to identify unclaimed insurance policy proceeds or contract benefits; and to timely invite a claim for such funds or facilitate the timely escheatment of unclaimed funds to the applicable government authorities as required by law.

In addition to the risks stated above, the incumbent is responsible for Licensing and Product risks that are not addressed by the Sales Practice Risk area.

 

  1. Organizational Structure – effectively lead the following organization and establish clear communication channels and leadership meetings and direct report updates in order to ensure there is a strong risk and control, monitoring and testing, issue identification and remediation culture with the first line of defense.
  • Advisory and Oversight – this team must understand the applicable business risks and advisory services related to governance, compliance risk management and controls (e.g. policy setting, training) related to in-scope risks. This includes understanding the LOB’s strategy, business / transformation objectives and having or obtaining expertise in regulatory requirements related to these applicable businesses. These advisory services must include a customer protection focus and ensure customers are treated fairly. In addition, to the degree that coordination is required with Investment Compliance in the U.S. or at MetLife Japan (or MetLife Asset Management) this team is responsible for performing this coordination.

 

This team also performs oversight of first line non-sales practice controls. This oversight responsibility includes having competent associates (“risk coordinators”) perform risk identification, documentation of controls, monitoring and testing of controls, identification of control issues and working with the line of business in developing corrective action plans. These risk coordinators are responsible for inputting the required the documentation into the global governance, risk and control system. They are also required to follow the guidance from MLJ Compliance Risk Oversight. This unit must adhere to the Compliance Risk Escalation Policy and under what circumstances to escalate elevated risks within MetLife Japan Compliance and to the appropriate levels of management. This unit must effectively challenge line of business management regarding control effectiveness. Risk coverage for this team includes Anti-Corruption and Policy/Contract Administration risks as defined by the Policy. This team also has secondary oversight responsibility for Product Development and Governance and Licensing and Registration – Entity.

 

  1. Leadership Responsibilities
  • Demonstrate MetLife Motivational Leadership behaviors including 1) Motivating People, 2) Growing Talent, 3) Driving Results, 4) Focusing on Customers and 5) Effectively partnering according to the Three Lines of Defense Model (and particularly within Compliance).
  • Lead and effectively develop a diverse team of managers who run the day-to-day operations for the incumbent’s areas of responsibilities. This includes establishing specific, measurable performance objectives for employees.
  • Implement timely corrective action when an employee, team or the department fails to achieve and/or maintain established performance objectives.

 

■必須業務経験・スキル:

  1. Experience in a compliance or other internal control department working for a life insurance company or financial institution.
  2. Experience in group/team management. High communication and business management skills.
  3. The ability to make decisions and act with autonomy while respecting teamwork.
  4. Deep understanding of life insurance business and compliance risks
  5. Risk mindset and forward looking risk management capabilities.
  6. Must be able to communicate in native level Japanese and business level English.

 

■このポジションの魅力:

In this very important and challenging role, responsibilities include oversight non-sales compliance while collaborating with various departments as a strategic partner to the business.

This position provides a wide and deep understanding of the business and processes across the company.

In this position, many opportunities to experience a wide range of departments and layers of colleagues are available, and you will gain valuable experience in not only Japan, as well as in Global and Regional relationships.