Job Description
About the Role
This position reports to the Team Lead within the Anti-Money Laundering (AML) team under Compliance. We are looking for an experienced and detail-oriented individual to support the company's AML/CFT compliance framework and operations. The role involves performing screening, supporting on reporting, compliance reviews and reporting. The individual will handle more complex cases and provide guidance to junior team members, while working closely with the team to ensure compliance with AML/CFT requirements. Experience in insurance, bank or financial advisor space as well as the implementation and managing of AML systems will be preferred.
Key Responsibilities
- Sanctions and Screening Support
- Review and disposition name and sanctions screening, including true matches escalated by junior team members.
- Identify potential matches and escalate sanction concerns relating to major sanctions lists (e.g. OFAC, UN, EU, UK and MAS lists).
- Maintain proper documentation of screening outcomes and risk assessments and ensure proper follow-up.
- AML Monitoring System
- Assist in enhancements and improvements to the AML monitoring system.
- Support on the updates and changes to the AML monitoring system parameters.
- Reporting and Compliance with AML/CFT Regulations
- Assist in preparing regulatory reports, dashboards, and AML risk assessments.
- Support internal and external audits, including data preparation and remediation tracking.
- Policy, Controls and Improvements
- Support updates of AML/CFT policy, procedures and internal guidelines.
- Participate in control testing, quality assurance reviews and screening process improvement initiatives.
- Review controls and procedures to ensure compliance with the applicable requirements.
- Support periodic reviews, including reviews of screening processes and threshold assessments.
- Assist in parameter tuning and system optimisation to maintain effective screening controls.
- Training and Stakeholder Engagement
- Deliver AML/CFT training and awareness sessions to staff and representatives.
- Provide guidance to junior team members and resolve AML/CFT-related queries.
- Work closely with stakeholders from first-line business units.
- Participate in AML-related projects and/or undertake tasks assigned from time to time.
- May be involved in customer due diligence and transaction monitoring activities as part of future AML-related responsibilities.
Requirements
- Education & Qualifications
- Bachelor's degree.
- Professional certification such as CAMS, ICA, or IBF in AML/CFT is an advantage.
- Experience
- 2 4 years of AML/CFT or compliance experience, preferably in insurance, banking, or financial advisor space.
- Excellent understanding of AML concepts, sanctions and customer onboarding.
- Good working knowledge of MAS AML/CFT Notice and Guidelines, Financial Services and Markets Regulations and Targeted Financial Sanctions, and insurance regulations.
- Skills & Competencies
- Builds positive working relationships and collaborates effectively with colleagues.
- Strong analytical and investigative skills with attention to detail.
- Excellent written and oral communication skills to prepare review findings and reports.
- Self-motivated with initiative and a good team player
- Take ownership to optimize results and be detail-minded
- Approaches problems logically and proposes practical, workable solutions.
- Embraces change and adapts quickly to new processes, systems or requirements.
- Familiarity with AML systems.
- Ability to manage multiple priorities in a fast-paced environment while delivering high-quality outputs.
- Proficiency in Python and macro development (e.g., Excel VBA or scripting tools) will be preferred.
What We Offer
- Opportunity to work in a dynamic compliance team
- Collaborative and supportive work culture
- Professional development
- Exposure to AML/CFT in the insurance industry with expansion to other financial advisory product offerings
