Associate Supervisor, Supervision | Insurance and Takaful Supervision Department (JP3)
Bank Negara Malaysia · Kuala Lumpur
Assist the Senior Supervisor to:
- Plan, organise, and execute the supervision of assigned insurers, takaful operators, reinsurers, retakaful operators, as well as financial groups under designated financial holding companies (FHCs) on a regular and consolidated basis. This is to ensure that financial institutions (FIs) operate in a safe and sound manner, with no disruptive failures of FIs, while maintaining the stability of the insurance/takaful sector and ensuring FIs’ compliance with applicable laws and regulations. This role entails assisting the Senior Supervisor in identifying material risks and vulnerabilities within FIs/financial groups early and initiating prompt preventive or remedial actions.
- Administer legal and regulatory requirements through the timely processing of applications from FIs and the consistent application and enforcement of laws and regulations, such as the Financial Services Act 2013 (FSA 2013), Islamic Financial Services Act 2013 (IFSA 2013), as well as policy documents and directives issued by Bank Negara Malaysia (the Bank).
Bank Negara Malaysia (the Central Bank of Malaysia), is a statutory body which started operations on 26 January 1959. Bank Negara Malaysia is governed by the Central Bank of Malaysia Act 2009. The role of Bank Negara Malaysia is to promote monetary and financial stability. This is aimed at providing a conducive environment for the sustainable growth of the Malaysian economy.
Bank Negara Malaysia’s monetary policy stance is to maintain price stability while remaining supportive of growth. Bank Negara Malaysia is also responsible for financial system stability. This is achieved by developing a sound, resilient, progressive and diversified financial sector which serves to support the sectors of the real economy. It also plays an important function in implementing initiatives to deepen and strengthen the financial markets, including the foreign exchange market.
Bank Negara Malaysia has played a significant developmental role in developing the financial system infrastructure in advancing the financial inclusion agenda. This is to ensure all economic sectors and segments of the society have access to financial services. In addition, Bank Negara Malaysia also oversees the nation’s payment systems infrastructure which emphasize on the efficiency and security of the financial systems.
As the banker and adviser to the Government, Bank Negara Malaysia provides advice on macroeconomic policies and the management of public debt. Bank Negara Malaysia is also the sole authority in issuing the national currency and in managing the country's international reserves.
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