PBTB | Assistant Manager – AML/CFT

Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Role Purpose

• Responsible for ensuring adherence and timely implementation of Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions (AML/CFT/CPF and TFS) policies, procedures and control measures.
• Responsible for ensuring effective implementation of Prudential Group's policies and standard on Financial & Economic sanctions.

Organization Context:

• Close collaboration with stakeholders such as New Business Underwriting, Customer Service and Claims to provide advice to the business on AML/CFT related area.
• Regular engagement with the Group Compliance team to ensure AML/CFT guiding principles and minimum standards are observed by all staff and intermediaries.

Key Accountabilities:

1. Effective implementation of BNM's Anti-Money Laundering, Countering Financing of Terrorism, Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institutions, Group Anti-Money Laundering and Sanction, in conducting due diligence reviews, reporting on the outcome of Anti-Money Laundering risk assessment and ensuring that remedial action is taken.

• Identify high risk customers and conduct on-going due diligence on the business relationship with higher risk customer.
• Review high risk customer
• Review/tag/freeze and maintain high risk customer log

• Review and clear High Risk Customer alerts within TAT.

• Support PruBSN new business and on-going monitoring processing on daily basis and during month end.

2. Effective identification and monitoring of suspicious activities and transactions and to ensure the escalation of suspicious transactions is implemented effectively

• Review & update "red flags" on money laundering risk annually.
• Monitor the daily red flags within the Timeline such as data for Top up, withdrawal, Surrender, NTU and monitor transactions conducted by tagged customers and STR received from the branches.
• Identify suspicious transactions and review the ground of suspicion upon receiving internal suspicious reports from relevant departments/branches, promptly submit the suspicious transaction report to BNM Financial Intelligence and Enforcement Department (FIED) if the suspicion is confirmed
• Maintains a complete file & register on all internally generated suspicious transaction reports and any supporting documentary evidence regardless that such reports have been submitted to the BNM FIED.

3. Effective high-risk customer review and provide guidance to employees on appropriate remediation action for higher risk customers.

• Assist to ensure policy and processes put in place remains relevant in identifying high risk customers and on-going due diligence is conducted on the business relationship with higher risk customers.
• Review HRC cases and ensure CDD and EDD are conducted prior to acceptance.
• Support PruBSN new business processing during month end.
• Perform risk profiling for top up or payout refer by Operations team.

4. Ensure the filtering and screening system is effectively implemented, have put in place reasonable and appropriate measures to verify and confirm identity of customers, agents, vendors and employees.

• Prompt review of alerts generated in the AML screening system.
• Ensure all alerts are close within TAT
• Prompt escalation of alerts which are fully match against the database.
• Conduct reconciliation on total records extracted from source system database and total records being screened.
• Solve any issues related to screening system (delay files, inaccurate data, not tally etc) and ensure all files were screened.
• Ensure appropriate mechanism is in place to conduct on-going monitoring on names identified as high risk

5. Assist in implementation of new system or system enhancement, preparing report as and when required and any ad-hoc task requested by Superior.

• Prepares AML/CFT/PF report to Group Compliance and provide data/statistics for EXCO Updates, AML/CFT/PF updates and Board Paper. These reports consist of data on HRC and STR submitted to Bank Negara, total alerts received and incident report. (As and when required with minimal error)
• Involved in User Access Testing and On-going Reliable Testing (ORT) for new system or any system enhancement, DR Drill, and etc.

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.