Anti- Laundering Specialist

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Mutakamela Insurance is proud to be a growing leader in the insurance sector in Saudi Arabia. We are committed to attracting and developing top talent to support our continued success and expansion. At Mutakamela, we believe in building a strong, capable workforce aligned with our core values and strategic goals. Our culture is rooted in professionalism, innovation, and collaboration, making us a trusted name in the industry and a great place to grow your career.

Summary

The Role: The AML Officer is responsible for ensuring compliance with anti-money laundering (AML) regulations and preventing the company from being used for money laundering activities. This role involves monitoring transactions, conducting investigations, and reporting suspicious activities to regulatory authorities.

The Challenge: The insurance industry is subject to strict AML regulations, and it can be challenging to identify and prevent all potential money laundering activities. AML Officers must stay updated on regulatory changes and develop effective strategies to mitigate risks.

General

• Risk Assessment:
  Conduct risk assessments to identify potential money laundering risks.
• Transaction Monitoring:
  Monitor transactions for suspicious activity.
• Investigations:
  Conduct investigations into suspicious transactions or activities.
• Reporting:
  Report suspicious activities to regulatory authorities.
• Training and
  
  Education:
  
  Provide AML training and education to employees.
• Policy Development:
  Assist in the development and implementation of AML policies and procedures.

Definitive

• Assist in preparing AML regulatory reports.
• Work on insurance AML inquiries, observations, and requirements.
• Perform enhanced due diligence and customer due diligence on customers.
• Investigate systemically generated AML alerts.
• Receive, collect, analyze ML/TF suspicious transactions and activities and document related results.
• Investigate and elevate unusual activity and present cases with proper justification.
• Prepare EDD and KYC forms.
• Develop and maintain AML policies and procedures.
• Advise business on day‑to‑day AML related issues.
• Review cancellation policies for life insurance.
• Review issuance of new policies and customers for life insurance.
• Perform sanction screening for new and existing customers.
• Prepare and continuously update AML training material.

• AML Regulations:
  Knowledge of AML regulations and best practices.
• Data Analysis:
  Ability to analyze data to identify suspicious patterns.
• Investigative
  
  Skills:
  
  Ability to conduct investigations and gather evidence.
• Regulatory Compliance:
  Understanding of insurance regulations and compliance requirements.
• Communication:
  Effective communication skills to interact with internal and external stakeholders.

• Bachelor’s degree in business administration, finance, or a related field.
• Professional certifications in AML or compliance are beneficial.
• Insurance Foundation Certification (IFCE) required.

• Integrity:
  Adherence to ethical principles and high standards of professional conduct.
• Attention to Detail:
  Meticulous attention to detail in monitoring transactions and identifying suspicious activity.
• Analytical Thinking:
  Ability to analyze data and identify potential risks.
• Problem‑Solving:
  Strong problem‑solving skills to investigate and resolve AML issues.
• Teamwork:
  Ability to collaborate with other departments within the company.

• 3 years of experience in compliance, risk management, or a related field within the financial services industry.
• Experience with AML regulations and best practices.
• Experience with data analysis and investigation techniques.

If you are interested, please apply.

• Entry level

• Full‑time

• Finance and Accounting/Auditing

• Insurance

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