Compliance, Analyst

Roles and Responsibilities:

• Work closely with the distribution channels and other support units to coordinate the EDD case management and ensure relevant supporting documents or alternatives evidence as obtained are acceptable within the internal framework requirements.
• For analysts that support the onboarding of the high net worth (“HNW”) and offshore business segments, work closely with the AML Consultant and act as the SME in managing the end-to-end support for the NB onboarding. This will include conducting the relevant EDD review, SOF, and SOW corroborations in line with the regulatory requirements and internal SOP.
• Manage and review the alerts resolutions arising from name screening / transaction monitoring / customer risk scoring systems and liaise with other functional units (e.g. Life Operations) for necessary investigation and follow-up actions. This includes preparing the required EDD review accordingly and seeking senior management approval.
• Conduct investigations into suspicious activities and prepare suspicious transaction reports for timely filing to STRO.
• Assist in the annual HRC periodic review and trigger event reviews (such as but not limited to absolute assignment, policy loan application, 3rd party payor review) in accordance with the applicable AML/CFT policies / guidelines / SOPs.
• Maintain accurate regular review, risk assessment, trigger event review, and enhanced due diligence records.
• Assist with the implementation of automated AML systems in regard to UAT and data gathering where required.
• Assist in the preparation of the AML/CTF related management reports.
• Carry out other ad-hoc tasks or projects as assigned.
• Exercise diligence in delivering quality work and strong commitment to agreed timelines.

Requirements:

• Bachelor’s Degree and a relevant industry qualification in AML/CFT e.g. ICA, ACAMS.
• 2 to 5 years of experience in a financial crime compliance role within the insurance industry.
• Strong knowledge of the applicable regulations and guidelines on AML/CFT e.g. MAS Notice 314, TSOFA.
• Sound understanding of insurance operations and the financial crime risks and controls relating to AML and Sanctions.
• Appreciation of the changing trends and typologies relating to AML/CFT.
• Ability to multi-task and take on a high volume of workload with aggressive timelines.
• Attention to detail in the investigation of alerts and reviewing customers’ profiles.
• Intermediate knowledge of Excel i.e. formula, macro, VBA is a plus.
• Familiarity with AS400 system and Nice Actimize platform.