Our Client:
The Insurance AML Officer ensures the company follows anti-money laundering (AML), counter-terrorist financing (CTF), and sanctions rules. The incumbent will be handle regulatory inquiries and advise internal teams on AML matters.
Job Description:
- Develop, implement, and monitor AML policies, ensuring adherence to regulatory requirements.
- Conduct AML risk assessments, oversee KYC/CDD processes, and apply enhanced due diligence for high-risk clients.
- Detect and investigate unusual transactions (e.g., rapid premium payments, policy loans) and file SARs when necessary.
- Deliver AML training to employees and agents, ensuring compliance awareness across the organization.
- Act as the main contact for regulators, submit compliance reports, and assist in AML audits.
- Screen customers against sanctions lists and block prohibited transactions.
Job Requirements:
- Bachelor’s degree in Law, Finance, Business, or a related field.
- 3+ years in AML compliance within the insurance, banking, or financial services sector.
- Familiarity with AML with local insurance regulations.
- Strong ability to assess risks, detect suspicious patterns, and make compliance decisions.
- Excellent written and verbal communication skills for reporting and training purposes.
- Experience with AML software (e.g., transaction monitoring systems, KYC tools).