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
