Aml/cft Compliance, Specialist

3 weeks ago

Kuala Lumpur, Malaysia AIA Full time

At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone.
- It’s about finding new ways to not only better people's lives, but to better the communities and environments we live in. Encompassing our ambition of helping a billion people live Healthier, Longer, Better Lives by 2030._
- And to get there, we need ambitious people who believe in playing an important part in shaping that future. People seeking unmatched career and personal growth opportunities, who are driven to work with, and learn from some of the most inspiring and supportive leaders in the business._

Sound like you? Then read on.

About the Role

The position is responsible to support the Associate Director, Compliance to ensure that AIA Malaysia entities operate in accordance with the AIA Group policies and guidelines and local regulatory requirements in the following areas and towards this end, driving and overseeing implementation of compliance frameworks in these areas:

- Know Your Customer (KYC) / Anti-Money Laundering (AML) / Counter Terrorist Financing (CTF)
- Economic Sanctions
- Anti Corruption
- Foreign Account Tax Compliance Act (FATCA)
- Common Reporting Standard (CRS)
- Other regulatory and corporate requirements

1. Perform regulatory compliance work such as guidelines interpretation, advise and review of business initiatives to identify regulatory breaches or ineffective controls for AIA Malaysia entities in respect of BNM, LIAM, MTA and PIAM guidelines as well as AIA Group’s requirements.

2. Manage AML/CFT & Economic Sanctions compliance programs for AIA Malaysia by undertaking the following:

- Drafting / reviewing and maintaining on an ongoing basis, local policies and guidelines and AML Risk Assessment matrix to ensure compliance with higher of the AIA Group requirements or local regulatory requirements.
- Liaising with relevant business/operational functions to embed Group and local regulatory requirements in the business procedures and facilitating design & implementation of operational controls.
- Implementing robust AML monitoring procedures (including Early Warning System) and Sanctions screening procedures and ensuring that systems used for this purpose are accurately maintained on an ongoing basis and any alerts generated are duly investigated and necessary action taken.
- Implementing robust procedures for staff and external sales force to raise Suspicious Transaction Reporting (STR) when they encounter suspicious transactions.
- Investigating STRs and undertaking external regulatory reporting as required.
- Developing training plans and training material to ensure adequate awareness programs (including awareness of STR reporting procedures) for staff and external sales force in line with Group and local regulatory requirements.
- Implementing due diligence program for partners and business associates.
- Providing advice and guidance to local business.
- Escalating key risks and actual/potential non-compliance incidents to the superior and ensuring incidents are managed effectively.
- Monitoring implementation of corrective actions to remediate any identified deficiencies.
- Proactively monitoring relevant internal developments and regulatory & industry developments and initiating necessary action.
- Conducting sample checks/reviews as part of the compliance review program to gain assurance over all relevant aspects.
- Compiling timely, relevant and reliable management information.
- Leading and managing any system enhancements in relation to Regulatory Compliance, AML/CFT, FATCA or CRS requirements.
- Establishing and monitoring the accuracy, completeness and quality control of Actimize alerts, Customer Due Diligence and Enhanced Customer Due Diligence as well as alerts review by the Actimize users.
- Facilitating the preparation of National Risk Assessment by Bank Negara Malaysia and Institutional Risk Assessment by AIA Group.
- Acting as an advisory role to the local entity’s business unit team, including assess and advice on risks and potential for breaches,
- Facilitating incident management for breaches and control failures together with Legal, IT and ERM teams.
- Working with IT and the relevant business units to ensure the effective design and implementation of the controls implemented.
- Performing effective testing of compliance controls in the business processes.

3. Assist in training arrangement for AML/CFT, FATCA, CRS and Anti-Corruption.

4. Assist in any system enhancement involving AML/CFT & Sanctions screening, FATCA, CRS and Anti-Corruption.

5. Perform other responsibilities and duties periodically assigned by superior in order to meet operational and/or other requirements.

Job Requirements:

- Bachelor’s degree in Accounting, Finance, Law or Business with 5 years of solid work experience in the financial industry handling compliance and/or controls.
- Knowledge of local AML legal / regulatory requirements.
- Knowledge of Nice Actimize Sy

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