Junior Anti-Money Laundering Analyst | Orient
at Al Futtaim Group in
Job highlightsPosted on May 17, 2021
We are currently seeking a Junior AML Analyst to join our Insurance Division.
The Junior Anti Money Laundering Analyst is an entry level role responsible for assisting compliance department in establishing, implementing internal procedures to prevent money laundering and to support the AML compliance department in ensuring that there is a proper framework, governance, and compliance of the Insurance division in line with the AML/CFT regulatory requirements.
- Assisting compliance department in development and implementation of AML policies and procedures.
- Regular coordination and follow up with internal departments for obtaining due diligence documents.
- Execute Due Diligence activity as per the defined process and regulatory guidelines.
- Completion of client risk assessment.
- Tracking and management of the various documents as per record retention policy.
- Ensure all reporting timelines are met as per agreed Turnaround Time (TAT).
- Screening and Transaction Monitoring Systems Review/Implementation
- Identify Red flags and control issues with respect to KYC/Client on boarding.
- Investigate and Preparation of Suspicious Activity Reports and Suspicious Transaction Reports.
- Liaise with regulators and supervisors in connection with the AML program and related regulatory issues.
- Build strong partnership with Internal Audit, Operations departments, Business development and other stakeholders in connection with the AML Program.
- Work with leaders throughout enterprise to resolve efforts to address related open issues in a timely and effective manner.
- Responsible to seek AML compliance Advice from the compliance committee, organize and participate in the compliance committee meeting.
- Timely filing of regulatory reports with the regulator.
- Develop and assist in providing training relating to AML/CFT.
- Assist in the planning, execution and results analysis of AML compliance reviews.
- Work with the business lines during test work to understand control processes and to identify action plans to address control deficiencies.
- Communication with various levels of management to ensure AML/CFT compliance.
- Maintain ongoing awareness, current knowledge of all applicable internal and external AML compliance regulatory requirements and identifying any issues that could impact the Institution.
- Review high risk relationships especially cases that are escalated to Senior Management and ensure that all risks are appropriately highlighted for sign-off.
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