Analyst, AML Policy

ROLE PURPOSE

1. Assist and support the Manager in managing AML and CFT matters, including coordination, reporting obligations, stakeholder engagement, industry communication and ensuring compliance within Labuan IBFC.
2. Contribute to AML/CFT policy document development, conducting research and benchmarking, and performing analysis to strengthen compliance and supervision in line with regulatory expectations and Labuan FSA's mandates.
3. Involve in conducting periodical or thematic risk assessment pursuant to the National Action Plans under the National Coordination Committee to Combat Money Laundering (NCC) or Financial Action Task Force (FATF)/Asia-Pacific Group on Money Laundering (APG)

PRINCIPAL ACCOUNTABILITIES

1. Serve as the Designated AML Officer, acting as the primary liaison with industry participants on AML/CFT administrative and operational matters, including communicating updates and coordinating submissions by Reporting Institutions.
2. Monitor and consolidate reporting requirements including Domestic PEP listings, Sanction Lists and other AML/CFT-related submissions for onward reporting to the Ministry of Home Affairs and other relevant authorities.
3. Respond to queries from external parties regarding operational AML/CFT matters and ensure appropriate clarification, follow-through and regulatory communication.
4. Prepare, coordinate and manage documentation, including concept papers, guidelines and circulars related to AML, CFT, CPF & TFS for internal and external dissemination.
5. Act as Labuan FSA's NCC coordinator, performing coordination of updates, assignments, project deadlines and deliverables relating to domestic AML/CFT efforts.
6. Work closely with domestic enforcement agencies and relevant Labuan FSA departments for support, information-sharing and alignment on AML/CFT matters.
7. Provide research-based input and advisory recommendations to enhance AML/CFT compliance and understanding among reporting institutions and internal departments.
8. Manage and maintain proper record administration of the AMLPU and ensure documentation integrity for reference, audits and reporting purposes.
9. Support internal departmental functions including administrative requirements, inter-departmental coordination and workstream support.
10. Participate and support the Unit in ad hoc projects and assignments as directed by the Manager or higher authority.

QUALIFICATIONS

Academic Qualifications:

1. Possess a Bachelor's Degree in Law, Accountancy, Economics, Banking, Finance, Business Management or related discipline from an institution recognised by MQA or equivalent professional qualification.

Experience:

1. Minimum 2 to 3 years of relevant working experience in compliance, AML/CFT functions, regulatory environment or financial services sector.
2. Exposure to AML/CFT principles and regulatory guidelines, including reporting obligations and compliance procedures.
3. Experience coordinating with stakeholders or external agencies in a regulatory or financial context.

COMPETENCIES

1. Met the minimum requirement for the role based on the LFSA Competency Mode.

2. Technical skills:

3. Proficient in Microsoft Office Suite (Word, Excel, and Power Point).

4. Understanding of AML/CFT regulatory requirements and compliance principles
5. Ability to handle AML/CFT data submissions and ensure accuracy and completeness of reporting
6. Ability to prepare structured documentation, templates and reference materials to support AML/CFT related functions.