AML Assistant Manager
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Key skills for this role
Role Overview
The AML Assistant Manager is responsible for supporting and overseeing day-to-day Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), sanctions, and financial crime compliance activities.
The role ensures effective implementation of AML/CTF policies, procedures, controls, monitoring, and reporting in accordance with ACIG requirements and applicable regulations.
The position supports the Compliance & AML Manager in strengthening the Company’s financial crime control environment and ensuring compliance with the requirements of the Saudi Insurance Authority and other applicable authorities.
Key Skills for This Role
Full Job Posting
About the Role
The AML Assistant Manager is responsible for supporting and overseeing day-to-day Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), sanctions, and financial crime compliance activities.
The role ensures effective implementation of AML/CTF policies, procedures, controls, monitoring, and reporting in accordance with ACIG requirements and applicable regulations.
The position supports the Compliance & AML Manager in strengthening the Company’s financial crime control environment and ensuring compliance with the requirements of the Saudi Insurance Authority and other applicable authorities.
Key Responsibilities
- Support the implementation and maintenance of the Company’s AML/CTF framework, policies, procedures, and controls.
- Conduct and support AML/CTF risk assessments across relevant business activities and customer segments.
- Oversee customer due diligence and enhanced due diligence activities for higher-risk customers and relationships.
- Monitor transactions and activities for unusual or potentially suspicious patterns and ensure appropriate escalation.
- Review AML alerts and support the investigation and assessment of potentially suspicious activities.
- Support the preparation and filing of required suspicious transaction reports in accordance with applicable regulatory requirements and internal escalation protocols.
- Monitor sanctions, watchlists, and other applicable financial crime screening requirements.
- Maintain accurate AML/CTF records, registers, documentation, and supporting evidence.
- Monitor changes in AML/CTF regulations and support the implementation of required changes to policies and controls.
- Prepare periodic AML reports, management information, and regulatory submissions.
- Coordinate with Underwriting, Claims, Finance, Sales, Operations, and other functions on AML/CTF matters.
- Support regulatory examinations, internal audits, and compliance reviews related to AML/CTF.
Qualifications & Experience
- Bachelor’s degree in Finance, Accounting, Business Administration, Law, Insurance, or a related field.
- Professional certification in AML, compliance, or financial crime, such as CAMS or ICA, is preferred.
- Minimum of 5 years of relevant experience in AML, compliance, financial crime, or a related field.
- Previous supervisory experience is preferred.
- Good knowledge of AML/CTF principles, customer due diligence, sanctions screening, and suspicious transaction monitoring.
- Strong understanding of applicable Saudi AML/CTF regulations and regulatory requirements.
- Insurance or financial services industry experience is highly preferred.
Key Competencies
- AML & Financial Crime Knowledge
- Regulatory Compliance
- Analytical Thinking
- Risk Assessment
- Attention to Detail
- Integrity & Confidentiality
- Problem Solving
- Communication & Reporting
- Stakeholder Management
- Team Supervision
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