Junior AML Analyst

Open 19d

Company

Al Futtaim Private Company LLC

Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions: automotive, financial services, real estate, retail, and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia, and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.

By upholding our values of respect, excellence, collaboration, and integrity, Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.

Job Role

We are currently seeking a Junior AML Analyst to join our Insurance Division. The Junior Anti Money Laundering Analyst is an entry-level role responsible for assisting the compliance department in establishing and implementing internal procedures to prevent money laundering and to support the AML compliance department in ensuring that there is a proper framework, governance, and compliance of the Insurance division in line with the AML/CFT regulatory requirements.

Job Responsibilities

Assist compliance department in development and implementation of AML policies and procedures
Regular coordination and follow-up with internal departments for obtaining due diligence documents
Execute due diligence activity as per the defined process and regulatory guidelines
Completion of client risk assessment
Tracking and management of various documents as per record retention policy
Ensure all reporting timelines are met as per agreed Turnaround Time (TAT)
Screening and transaction monitoring systems review and implementation
Identify red flags and control issues with respect to KYC/client onboarding
Investigate and prepare Suspicious Activity Reports and Suspicious Transaction Reports
Liaise with regulators and supervisors in connection with the AML program and related regulatory issues
Build strong partnership with internal audit, operations departments, business development, and other stakeholders in connection with the AML program
Work with leaders throughout the enterprise to resolve efforts to address related open issues in a timely and effective manner
Responsible to seek AML compliance advice from the compliance committee, organize and participate in the compliance committee meeting
Timely filing of regulatory reports with the regulator
Develop training presentations and conduct training relating to AML/CTF, FATCA, and CRS
Assist in the planning, execution, and results analysis of AML compliance reviews
Work with the business lines during test work to understand control processes and to identify action plans to address control deficiencies
Communicate with various levels of management to ensure AML/CFT compliance
Maintain ongoing awareness and current knowledge of all applicable internal and external AML compliance regulatory requirements and identify any issues that could impact the institution
Review high-risk relationships, especially cases that are escalated to senior management, and ensure that all risks are appropriately highlighted for sign-off

Required Skills to Be Successful

Exceptional ability in oral and written English
Excellent organizational skills, with the ability to prioritize workload whilst being resilient and able to cope well under pressure
Excellent interpersonal skills and an ability to converse confidently with various levels of management
Strong AML analysis skills, good knowledge and understanding of industry best practices, internal controls, and regulatory requirements

What Equips You for the Role

Minimum 1 year of AML compliance experience in banking or insurance industry
Bachelor’s Degree in Commerce or Business Administration
Knowledge of transaction monitoring systems and screening tools
Knowledge of FATCA and CRS regulation

About Orient Insurance PJSC

Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded progressively steady growth. The company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 million, which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah, and Ras Al Khaimah in UAE; Muscat in Sultanate of Oman; Riyadh in Kingdom of Saudi Arabia; and Bahrain.