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- Tasks: Support and strengthen AML/CFT compliance processes while advising stakeholders.
- Company: Join a leading financial institution focused on compliance and risk management.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Why this job: Make a real impact in the fight against financial crime and enhance your career.
- Qualifications: Bachelor’s degree and 4-6 years of AML/CFT or compliance experience.
- Other info: Opportunity to engage in training and collaborate on exciting projects.
The predicted salary is between 36000 - 60000 ÂŁ per year.
We are seeking a proactive and analytical individual to support and strengthen the AML/CFT compliance framework and processes. The role involves managing and implementing AML/CFT controls, advising stakeholders, performing enhanced customer due diligence (“ECDD”) reviews, conducting suspicious transactions reviews, providing support to junior team members and ensuring compliance with applicable regulations and MAS Notices.
Key Responsibilities
- AML/CFT Advisory & Onboarding
- Provide advisory to the first-line business units on AML/CFT-related areas such as customer onboarding, due diligence requirements, and risk mitigation measures.
- Review high-risk and escalated cases including PEPs, adverse media, high premium and complex structures.
- Assess source of wealth and source of funds for high-risk customers.
- Sanctions Management
- Escalate and advise on cases with true hit on sanctions.
- Review cases with sanctions risks and recommend the handling to manage the risks.
- Transaction Monitoring
- Review the transaction monitoring alerts investigated by the team and elevate suspicious activity.
- Submit Suspicious Transaction Reports (STRs) to STRO when required.
- Reporting and Compliance with AML/CFT Regulations
- Support regulatory audits, MAS inspections and internal audits related to AML/CFT.
- Assist in preparing periodic AML reports, risk assessments, and regulatory returns.
- Policy, Controls and Governance
- Contribute to the development and regular review of AML/CFT policy, procedures and risk assessment framework.
- Participate in control testing, quality assurance reviews, and remediation activities.
- Identify process improvements to enhance effectiveness and reduce false positives.
- Review controls and procedures to ensure compliance with the applicable requirements.
- Training and Stakeholder Engagement
- Deliver AML/CFT training and awareness sessions to staff and representatives.
- Collaborate with first-line business units to ensure consistent understanding and application of AML/CFT controls.
- Participate in AML-related projects and/or undertake tasks assigned from time to time.
Requirements
- Bachelor’s degree.
- Professional certification such as CAMS, ICA, or IBF in AML/CFT is an advantage.
- 4 – 6 years of AML/CFT or compliance experience, preferably in insurance, banking, or financial advisor space.
- Strong knowledge of MAS AML/CFT Notice and Guidelines, Financial Services and Markets Regulations and Targeted Financial Sanctions, and insurance regulations.
- Experience with sanctions management and AML/CFT reviews of universal life insurance policies and unit trusts is an advantage.
Assistant Manager, Compliance (AML/CFT) employer: INCOME INSURANCE LIMITED
Contact Detail:
INCOME INSURANCE LIMITED Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Manager, Compliance (AML/CFT)
✨Tip Number 1
Network like a pro! Reach out to your connections in the compliance field, especially those who work in AML/CFT. They might have insider info on job openings or can even refer you directly to hiring managers.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of MAS AML/CFT regulations and guidelines. Be ready to discuss how you've handled high-risk cases or improved compliance processes in your previous roles.
✨Tip Number 3
Showcase your analytical skills during interviews. Use examples from your experience where you successfully identified suspicious transactions or implemented effective controls. This will demonstrate your proactive approach to compliance.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are genuinely interested in joining our team.
We think you need these skills to ace Assistant Manager, Compliance (AML/CFT)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Assistant Manager, Compliance role. Highlight your relevant experience in AML/CFT and any specific projects you've worked on that align with the job description. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're passionate about compliance and how your background makes you a great fit for our team. Don't forget to mention any professional certifications like CAMS or ICA that you hold.
Showcase Your Analytical Skills: Since the role requires a proactive and analytical mindset, be sure to include examples of how you've used these skills in past roles. Whether it's conducting ECDD reviews or managing sanctions, we want to see your thought process in action!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows us you're keen on joining the StudySmarter family!
How to prepare for a job interview at INCOME INSURANCE LIMITED
✨Know Your AML/CFT Stuff
Make sure you brush up on your knowledge of AML/CFT regulations, especially the MAS Notices and Guidelines. Be ready to discuss how you've applied this knowledge in previous roles, as it shows you're proactive and analytical—just what they're looking for!
✨Prepare for Scenario Questions
Expect questions that ask how you'd handle specific compliance scenarios, like reviewing high-risk cases or managing sanctions. Think through your past experiences and be ready to share concrete examples that demonstrate your problem-solving skills and decision-making process.
✨Showcase Your Advisory Skills
Since the role involves advising stakeholders, prepare to discuss how you've successfully communicated complex compliance issues to non-compliance teams. Highlight any training sessions you've conducted or how you've collaborated with first-line business units to ensure understanding of AML/CFT controls.
✨Demonstrate Continuous Improvement Mindset
Talk about any process improvements you've identified and implemented in your previous roles. This could include reducing false positives in transaction monitoring or enhancing ECDD reviews. Showing that you're always looking for ways to improve compliance processes will resonate well with the interviewers.
