About the job
Liaise with various departments to collect and collate compliance risk assessment data to facilitate the establishment of the compliance universe in addition to giving recommendations on the high- risk issues.
Monitor and report on the daily management of compliance issues at respective units including significant internal policies.
Act as anti-money laundering liaison contact in Head Office, maintaining continuous dialogue and information to business units on key issues defined in the AML/KYC policies.
Prepare internal compliance reports with regard to external and regulatory compliance issues.
Monitor and alert on the status and performance of compliance responsibilities across Head Office support functions.
Plan, support & provide AML/KYC awareness and system training and other compliance policy training across the business units.
Carry out initial review of AML alerts and maintain follow-up for conclusion on AML case management, including providing AML system support to users.
Carry out compliance risk events data collection, analysis and preparation of reporting including recommendations to mitigate exposures.
Maintain continuous engagement with business units and carry out compliance risk monitoring, analysis and reporting on new products and projects.
Provide compliance risk liaison at peer levels across specialist and risk functions (Legal, Audit, Risk, HR and Finance).
Promote and reinforce a strong culture of compliance throughout the organization, emphasizing the importance of AML and reporting obligations.
Develop and deliver training programs to enhance compliance awareness and knowledge among employees and management.
Review the business continuity programme within the company and ensure that regular tests are conducted and the policies and frameworks are regularly updated.
Identifying areas of weakness with regards to business continuity and recommend remedial measures in consultation with all the relevant stakeholders.
Conduct due diligence on vendors/suppliers whom the business is intending to establish business relationships with.
Carry out comprehensive risk assessments across the business & functional areas in line with the risk management framework.
Evaluate the adequacy and effectiveness of controls established by management to ensure that identified risks are appropriately mitigated at both departmental and process levels.
Maintain the risk registers and assist management in tracking progress on the implementation of risk mitigation action plans.
Coordinate the performance of strategic risk analysis by reviewing business processes in liaison with business owners to identify potential risks.
Participate in the formulation and review of risk management and control activities for products to ensure they meet the set objectives and are worthwhile investments with a quantifiable return.
Facilitate awareness and training programs on risk management, controls and compliance activities.
Prepare reports for the Board Audit and Risk Committee
Requirements
A Bachelor’s degree in Finance, Economics, Law or Business-related field. A postgraduate Master’s degree and professional qualification in risk management will be an added advantage.
Demonstrated understanding of the regulatory environment including the Insurance Act, CMA Act and RBA Act.
Good knowledge of money laundering issues and KYC requirements.
A good understanding of insurance operation and business functions.
Good management skills including organizational, communication and problem solving skills.
Demonstrated high integrity
3 years of working experience – with at least 1 year of experience, in either compliance or audit related activities.
Apply via :
selfserviceuat.zohorecruit.com
