Assistant Manager of Legal & Compliance (LAC)

Assistant Manager of Legal & Compliance (LAC)

The LAC Assistant Manager in a Family Office (“FO”) plays a dual role, wearing both legal and compliance hats. This position is crucial for ensuring that the FO operates within the legal frameworks and compliance requirements, safeguarding the interests of the FO, and maintaining adherence to licensing requirements and regulatory standards.

Legal Responsibilities: Assist the Head of the Department (HOD)

1. Legal Compliance:
   • Ensure that all activities of the FO comply with relevant legal regulations.
   • Stay updated on changes in laws and regulations affecting the FO and Labuan Foundation.
2. Drafting and Reviewing Legal Documents:
   • Draft, review, and negotiate a wide range of legal documents, including contracts, agreements, and other legal correspondences.
   • Ensure all legal documents are accurate, complete, and compliant with applicable laws.
3. Understanding Family Governance:
   • Provide legal support and advice on matters related to family governance, prepared by the FO Advisory teams.
   • Ensure that governance structures are adhered to and legally sound.
4. General Legal Advice:
   • Provide general legal advice to the FO to safeguard its interests.
   • Address any legal issues or concerns that arise, offering practical and effective solutions.

Compliance Responsibilities: Assist the Head of the Department (HOD)

1. Regulatory Compliance:
   • Ensure that the FO complies with all regulatory requirements set by the Securities Commission (SC) for the Financial Planner license and by Bank Negara Malaysia (BNM) for the Financial Adviser license.
   • Maintain up-to-date knowledge of regulations from investment and insurance-related self-regulatory organizations (SROs).
2. Licensing Requirements:
   • Oversee and manage the licensing requirements of the FO, ensuring timely renewals and adherence to all conditions.
   • Liaise with regulatory bodies to ensure compliance and address any issues that arise.
3. Internal Policies and Procedures:
   • Develop, implement, and maintain internal policies and procedures to ensure compliance with legal and regulatory requirements.
   • Conduct regular reviews and audits to ensure ongoing compliance.
4. Training and Education:
   • Provide training and education to FO staff on legal and compliance matters.
   • Foster a culture of compliance within the FO.

Qualifications:

Education: Bachelor’s degree in Law (LL.B) and admission to the Malaysian Bar. Additional legal trust qualification with compliance certification is preferred.

Experience: Minimum of 5 years of experience in a legal drafting role, preferably within a FO or financial services environment, corporate law, estate/wealth management, trust, and estate planning. Understanding the Labuan Foundations Act is an added advantage.

Skills:

• Strong understanding of legal and regulatory frameworks.
• Excellent drafting, negotiation, and analytical skills.
• Ability to interpret and apply complex regulations.
• Strong communication and interpersonal skills.
• Ability to prioritize tasks and manage time effectively in a fast-paced environment.
• Meticulous in reviewing legal documents and compliance procedures.
• Able to provide practical and effective solutions to legal and compliance issues.
• Uphold the highest standards of integrity and ethical behavior.
• Able to adapt to changing legal and regulatory environments.
• Proficiency in English and Malay, both written and spoken.