Anti-Money Laundering Compliance Officer at Momentum Metropolitan Holdings Limited

Requirements

QUALIFICATIONS:

• Degree/Diploma in Law, Finance, Business, or a related field.
• Relevant certifications (in AML (Prac), Compliance, or equivalent).

EXPERIENCE:

• Proven experience (minimum 8-10 years) in the capacity of an AML Compliance officer or related  senior compliance role within financial services, insurance, or banking.
• Strong understanding of relevant AML legislation, including local and international regulations

INTERNAL PROCESS :

AML Compliance Framework:

• Develop, implement, and maintain the company’s AML/FICA policies, procedures, and controls in conjunction with business unit CROs and deployed compliance functions
• Regularly review and update AML/FICA policies in line with changes to legislation, regulations, and best practices
• Monitor and assess the effectiveness of the AML/FICA framework, ensuring it remains compliant with relevant laws

Risk Assessment:

In collaboration with the business unit CROs and deployed compliance functions:

• Ensure that regular risk assessments are conducted in relation to money laundering, terrorist financing, and other financial crimes
• Evaluate the adequacy and effectiveness of internal controls to manage these risks (this can also be done through agreed upon Internal Audit reviews)
• Coordinate and maintain the Business Risk Assessment (BRA) and Risk Management Compliance Plan (RMCP) for Momentum Group and the main Life License (Momentum Metropolitan Life Limited)

Transaction Monitoring & Reporting:

• Oversee transaction monitoring processes to identify suspicious or unusual transactions
• Investigate, escalate, and report suspicious activity to relevant regulatory authorities (e.g., Financial Intelligence Unit) via Suspicious Activity Reports
• Ensure efficient use of the Group’s technology capabilities to automate and streamline reporting requirements (there are existing technologies in place managed by the Shared Services technology teams)
• Ensure timely and accurate submission of all regulatory reports

Training & Awareness:

• Conduct ongoing training programs (with Learning and Development) to ensure all staff are aware of AML obligations, potential risks, and internal reporting procedures.
• Ensure training is reviewed at least annually, and when any legislative changes take place, to ensure relevancy of training.
• Provide targeted training to employees in high-risk areas.

Internal Reviews and Advisory:

• Oversight over reviews of internal systems and controls related to AML to ensure compliance
• Work with internal and external auditors during AML-related audits and regulatory inspections
• Provide advice and guidance in relation to legislative / regulatory requirements, alerts, suspicious or unusual activities
• Manage internal steering committees and deep dives related to AML

Customer Due Diligence (CDD) and Know Your Customer (KYC):

• Ensure that robust CDD/KYC processes are in place for onboarding clients and during ongoing monitoring
• Ensure appropriate processes are in place to manage the enhanced due diligence (EDD) on high-risk clients and entities
• Where necessary, review client risk profiling and ensure appropriate risk mitigation measures are applied

Regulatory Liaison:

• Serve as the primary point of contact with local and international regulatory authorities on AML/FICA matters
• Ensure the timely submission of regulatory filings and responses to requests from regulators

Sanctions Compliance:

• Ensure the company’s compliance with sanctions regimes and regularly monitor for updates on sanctions lists
• Maintain and enhance processes to screen customers, transactions, and payments against sanctions lists
• Own and manage the relationship with the current screening capability provider
• Ensure screening capabilities and requirements are appropriately maintained by the Shared Services technology team

Reporting & Governance:

• Provide regular reports to senior management and the board of directors on the effectiveness of the AML program and any significant issues
• Prepare and present AML updates and reports at internal meetings and governance forums
• Team management (resources with direct reporting lines)
• Collaboration with Business CROs and deployed functions to ensure the group’s activities and processes are appropriately aligned and functioning as expected
• Understand the digital landscape, contribute to technology plan and the relevant technology requirements, identify system improvements or alternative systems that can improve overall team efficiency as it relates to the AML capability

CLIENT PROCESS:

• Build and maintain relationships with clients and internal and external stakeholders
• Deliver on service level agreements applicable to clients and internal and external stakeholders in order to ensure that client expectations are managed
• Make recommendations to improve client service and fair treatment of clients within area of responsibility
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service
• Continuously monitor turnaround times and quality standards and resolve issues speedily to enhance client service delivery
• Drive client service delivery goal achievement in line with predefined standards in order to ensure that clients receive appropriate advice and after sales service
• Manage client query processes and ensure that queries are tracked, accurately resolved and used as a mechanism to improve client service and business processes

FINANCIAL PROCESS:

• Contribute to the financial planning process within area
• Identify solutions to enhance cost effectiveness and increase operational efficiency
• Manage financial and other company resources under your control with due respect
• Manage high risk and problematic financial issues in area of accountability and contribute to the development of policy

PEOPLE PROCESS:

• Continuously develop expertise in terms of industry and subject matter knowledge, applying it effectively to deliver specialized contributions and stay ahead in the field
• Positively influence and manage change, offering specialist support where required to facilitate smooth transitions and drive organizational growth
• Contribute to continuous innovation by developing, sharing, and implementing new ideas, actively involving colleagues and staff to enhance the organization's practices
• Participate and contribute to a culture of work-centric thinking, productivity, service delivery, and quality management, promoting a positive work environment and efficient operations
• Take ownership of driving personal career development, proactively seeking growth opportunities, and advancing professional skills