CEO Insights Magazine

Insurance companies operate in a highly regulated industry that requires strict adherence to laws and regulations. Therefore, having a results-oriented compliance officer is crucial in ensuring that the company meets its regulatory obligations. Such an officer is Jeoffery Asin, who is responsible for overseeing compliance-related activities at RHB Insurance Bhd and implementing measures that promote a culture of compliance within the company. His results-oriented approach to compliance ensures that the company remains compliant, mitigates risks, and maintains a positive reputation with regulators and customers alike.

Jeoffery Asin is a highly experienced Chief Compliance Officer at RHB Insurance Bhd, one of Malaysia's leading insurance companies. With years of experience in the insurance industry, Asin has established himself as a leading expert in compliance-related matters, possessing an exceptional ability to navigate the complex regulatory landscape.

Below is an excerpt of Jeoffery Asin’s exclusive interaction with CEO Insights ASIA magazine.

How has your professional journey been so far? Also, what is the success mantra that you follow?

As someone with 23 years of experience in the insurance industry, I believe that understanding the business process is key to being a successful Chief Compliance Officer. My background in insurance operations has given me an in-depth knowledge of the industry, which allows me to approach compliance from a position of empathy and understanding. By putting myself in the shoes of business owners and understanding their challenges, I can better explain regulatory requirements and ensure that they are followed.

To achieve this, I believe it's important to have a clear vision and set achievable goals for the compliance department. By doing so, everyone on the team knows what they need to achieve and can work towards it with a sense of purpose. I also believe in giving my team the freedom to achieve these goals in their own way, while providing support, encouragement, and motivation along the way.

My success mantra is simple: know the business, understand the challenges, and communicate effectively. Being a perfectionist, I endeavor to rectify things and ensure that every aspect adheres to the proper procedures and protocols.

How would you define RHB Insurance Bhd as an organization and its current position in the market?

As a representative of RHB Insurance, I am proud to say that our company has secured a place among the top two insurance providers in Malaysia. Our commitment to offering a wide range of top-notch products sets us apart from other insurance providers in the market. Our unique characteristic is our local identity and strong connection with a banking group, which sets us apart from others. We recognize and reward excellence in our employees and always strive to put our customers first. RHB Insurance's motto of 'Together we Progress' reflects our dedication to creating products that benefit both the customers and the company. At RHB Insurance, customer satisfaction is our top priority.

Tell us about your leadership approach. What are the guidelines or methodologies you follow as a leader?

As a leader, I prefer to adopt the authoritative leadership style. This means that I establish our department's goals and vision, and provide my team with the autonomy to achieve them. In compliance, numerous activities require attention, such as reviews, advisory work, and gap assessments. I empower my team members to plan and execute these activities independently while offering my support and motivation. By doing so, I am not only helping them achieve the set goals but also training them to become leaders themselves. I avoid micromanaging and instead trust my team to perform their duties to the best of their abilities, if they align with our common objective.

How do you keep yourself up-to-date with ongoing industry trends to steer your organization toward the future?

To ensure that I stay up-to-date with the latest industry developments, I take an active approach. I am a member of the Persatuan Insurans Am Malaysia (PIAM) for general insurance, where I participate in the regulatory working committee. This allows me to engage with other industry professionals and discuss new guidelines or issues that arise. Additionally, I engage with regulators, such as Bank Negara Malaysia, to understand their perspective on upcoming regulations. I also keep myself informed by reading industry publications and staying current on global trends.

What is the future destination you are heading towards?

As a compliance professional, I strive to make a difference in the industry by cultivating a strong compliance culture. My goal is to contribute to the greater good of society by raising awareness of the importance of compliance not only in Malaysia but also in the broader Asia region. I am passionate about ensuring that companies act with integrity and adhere to ethical standards, and I believe that through my work, I can make a positive impact. Being able to influence the industry and promote best practices is what motivates me to keep growing and advancing in my career.

Jeoffery Asin, Chief Compliance Officer, RHB Insurance Bhd

Jeoffery Asin is a highly qualified professional with a Bachelor's degree in Economics and an MBA. In addition, he holds the prestigious ACI (Associate Chartered Insurer) qualification from the UK, a professional certification essential for insurance professionals. As an accomplished claim examiner and underwriter, he has demonstrated his expertise in the industry and is committed to promoting a compliance culture within the insurance sector.