Responsible Officer (RO)

About the role

The Responsible Officer (RO) will be responsible for overseeing the company’s insurance brokerage and MPF-related activities, ensuring full compliance with the regulatory requirements of the Insurance Authority (IA) and the Mandatory Provident Fund Schemes Authority (MPFA).

The role will supervise licensed representatives, maintain effective compliance and internal control frameworks, oversee licensing and regulatory reporting, and provide regulatory and operational guidance to senior management. The successful candidate will also play a key role in strengthening the company’s compliance culture, managing regulatory risks, and supporting the sustainable development of the insurance brokerage and MPF business.

The candidate should be eligible to act as a Responsible Officer of a licensed insurance broker company and possess the relevant insurance and MPF intermediary qualifications required for the company’s regulated business activities.

Key responsibilities

• Supervise licensed Technical Representatives (Broker) and ensure their ongoing compliance with regulatory requirements, internal policies, licensing conditions and Continuing Professional Development (CPD) requirements.
• Oversee regulatory compliance matters including licensing and appointment of insurance intermediaries, regulatory filings, compliance reviews, inspections and audit preparation, ensuring all required submissions and records are accurate and completed on a timely basis.
• Monitor and strengthen the company's compliance framework, including client onboarding and KYC, AML/CFT controls, financial needs analysis and suitability processes, product and insurer due diligence, complaint handling, record keeping and other applicable conduct requirements.
• Identify, assess and escalate material compliance breaches, regulatory risks and control deficiencies, and advise senior management on appropriate remedial actions.
• Liaise with the Insurance Authority, insurers, auditors and other relevant regulatory or professional bodies on regulatory, compliance and operational matters.
• Provide compliance guidance, training and ongoing support to licensed Technical Representatives and other relevant staff, fostering a strong culture of compliance and professional conduct.
• Advise senior management on regulatory developments and emerging risks, and recommend enhancements to internal policies, procedures and business processes.

Requirements:

• Bachelor's degree from a recognized university or tertiary education institution, or an insurance/professional qualification acceptable to the Insurance Authority (IA), subject to applicable exemptions.
• Currently licensed, or eligible to be licensed, as a Technical Representative (Broker) for the relevant lines of business and eligible for approval by the IA as a Responsible Officer.
• Passed the relevant Insurance Intermediaries Qualifying Examination (IIQE) papers for General Insurance, Long Term Insurance and Investment-linked Long Term Insurance, or otherwise exempted from the relevant examination requirements.
• Registered with the Mandatory Provident Fund Schemes Authority (MPFA) as an MPF Subsidiary Intermediary, with the relevant MPF intermediary qualification; eligibility for approval as an MPF Responsible Officer is required / highly preferred.
• Minimum 5 years' relevant experience in the insurance industry, including at least 2 years of management experience, with experience commensurate with the nature and scale of the company's business.
• Previous experience as a Responsible Officer of a licensed insurance broker company is highly preferred.
• Strong knowledge of the Insurance Ordinance, IA regulations, codes and guidelines, MPF regulatory requirements, and the operational and compliance requirements applicable to licensed insurance broker companies in Hong Kong.
• Solid understanding of insurance brokerage operations, internal controls, compliance, risk management and regulatory reporting.
• Strong leadership, business acumen, analytical, communication and stakeholder management skills.