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About the Role
As the SME for EDD, provide the end-to-end support for the onboarding of high-risk customers (HRC) from all business segments which will include performing the relevant CDD, SOF, SOW collection and corroboration, EDD investigation and customer risk assessment on a timely basis.
Risk Assessment & Compliance:
- Conduct enhanced due diligence (EDD) on high-risk customers and complex cases. Liaise with internal stakeholders to ensure timely escalation of potential risks to senior management
- Work closely with all stakeholders to coordinate the EDD case management and ensure relevant supporting documents address the risks assessed.
- Prepare and report Suspicious Activity Reports (SARs) in compliance with regulatory and internal requirements.
Reporting & Documentation:
- Maintain accurate records of all EDD and correspondence in accordance with company policies and regulatory obligations.
- Provides regular and ad-hoc reporting to senior management, Group Compliance, regulators and auditors and other stakeholders.
- Prepare and present detailed findings, analysis, and recommendations to internal teams or regulators when necessary.
Operational Support & Process Improvement:
- Identify trends and inefficiencies in the AML operations processes and recommend improvements and participate the enhancement initiatives, including UAT, update of operational manuals
- Provide training, advisory and guidance to the relevant business units on the EDD requirements, especially on the SOF/ SOW corroboration requirements and proactively identify areas of improvements in relation to the area of independent assessment, risk mitigations and benchmarking.
- Implements new processes to address evolving AML risks and landscape.
- Performs other responsibilities and duties periodically assigned by supervisor.
Education:
- Bachelor's degree in Finance, Law, Business, or a related field (or equivalent experience).
- Certification in Anti-Money Laundering (e.g., CAMS, CFE, or other relevant certifications)
Experience:
- Minimum of 5-7 years of experience in AML compliance, financial crime prevention, or a related field.
- Experience in the insurance industry and AML systems (e.g., Actimize, SAS, etc.) is a plus.
- Experience in EDD reviews and KYC onboarding for HNW / offshore customers, including good understanding of the various issues and practical solutions of the SOF / SOW corroborations for high-risk clients.
Skills & Attributes:
- Strong analytical and investigative skills with attention to detail.
- Ability to work independently and manage multiple priorities under pressure. . Proficient in Microsoft Office Suite (Excel, Word, PowerPoint) and data analysis skills.
- Knowledge of local and international AML regulations and standards (e.g., FATF, OFAC, MAS, TSIFA).
- Strong interpersonal skills and ability to positively influence internal (distributions channels and support staff) and external parties (brokers, bankers, agents) to ensure strong and effective AML risk and compliance governance.
- High level of integrity and takes ownership and accountability of results.
