Job Scope / Position Summary
Customer Due Diligence unit oversees nationwide Customer Due Diligence / KYC (Know Your Customer) related matters. The incumbent monitor and establish approach to ensure the customer due diligence activities aligning with BNM Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing and Targeted Financial Sanctions for Financial Institution Policy Document and Generali Group Policies.
Main Responsibility
1. Customer Due Diligence (CDD)
- Monitor the daily performance of Customer Due Diligence Executive for onboarding, periodic review and trigger event review.
- Establish Turnaround Time to ensure the CDD is conducted within reasonable timeline (simple / complex CDD).
- Ensure compliance with relevant government regulations and the Company's internal guidelines and policies.
- Support Compliance in AML/CFT related trainings.
2. UBO Identification & Verification
- Responsible to ensure that UBO information is collected, verified and accurately documented
- Establish clear workflows for the collection of UBO information, including the use of corporate registries, official documents and third-party databases to verify the identity and ownership structure of client companies
- Identify red flags, discrepancies, or suspicious patterns in ownership structures, such as shell companies, nominee shareholders or others
- Ensure transparency in UBO reporting, maintaining an up-to-date internal registry of UBOs for all client in accordance with legal obligations.
3. Governance, Controls & Integration
- Review, update and ensure standard operating procedures (including approach for Ultimate Beneficial Owner Identification) are promptly rolled out to ensure regulatory guidelines and group policies are adhered to.
- Review and ensure department standard operating procedures are promptly updated.
- Manage process deviations and streamline it for standardization and consistency.
- Conduct periodic reviews and promote awareness culture within the unit.
- Continue to improve internal control procedures and ensure appropriate internal controls are enforced.
- Reinforce first level of control & defense. Ensure satisfactory audit results and all audit issues raised are promptly follow up and attended to until closure.
4. Leadership & Team Management
- Own and foster strong relationships with key business stakeholders.
- Primary contact for all issue resolution, aligning expectations and driving timely as well as successful outcomes.
- Lead and mentor the sanction screening team and fostering a culture of compliance, integrity and accuracy
- Ensure appropriate resource allocation within the team to meet regulatory demands and workloads requirement.
Qualification and Experience Requirement
- Bachelor's degree in law, Finance, Business, Risk Management of related fields
- Certification in AML, Sanctions, or related compliance areas is highly desirable, CAMS Certified Anti-Money Laundering Specialist, AAMPL Core Level Associate Anti-Money Laundering Professional
- Minimum 6 8 years of experience in compliance, sanction screening, AML, or related fields, preferably within financial services or insurance industry.
- Proven experience in managing a team of sanction screening and compliance processes
- Strong knowledge of international sanctions rules and regulations
- Excellent leadership and people management skills
- Strong analytical and investigative skills with high attention to details
- Ability to interpret and apply complex regulatory requirements
- Strong communication and stakeholder management skills
