Our client is seeking a Compliance Quality Assurance Reviewer to perform second line quality assurance reviews of Anti-Money Laundering (AML) file reviews conducted within the business. This role involves evaluating customer risk assessments for various entities, including corporates, trusts, and individuals across multiple insurance products. The position ensures that standard and enhanced due diligence measures are applied in line with the customer’s risk profile as part of both trigger events and scheduled periodic reviews. Additionally, the role encompasses compiling and maintaining Management Information, including managing a remediation tracker through to resolution, while also monitoring for recurring issues and escalating material shortcomings as necessary.
Job Duties:
- Conduct independent quality assurance reviews of AML file reviews and customer risk assessments completed by the first line.
- Assess whether due diligence measures (standard or enhanced) have been applied appropriately based on the customer’s risk rating.
- Review the completeness and accuracy of documentation supporting periodic and trigger event reviews.
- Identify and document deficiencies, inconsistencies, or areas of non-compliance.
- Maintain a remediation tracker to monitor the resolution of identified issues.
- Escalate material findings or repeated shortcomings to the Head of Compliance or relevant governance forums.
- Identify trends or recurring issues (e.g. inadequate source of funds, expired documentation, poor certification practices).
- Provide feedback and guidance to the first line to support continuous improvement.
- Contribute to the development of MI dashboards and reporting for senior management (including ExCo).
- Support the enhancement of internal policies and procedures based on review findings.
- Report any red flags associated with potential money laundering or terrorist financing to the Money Laundering Reporting Officer (MLRO) as appropriate.
Job Requirements:
- Strong attention to detail.
- Excellent time management skills.
- Results-focused, with a commitment to quality and deadlines.
- Self-starter with the ability to work independently and as part of a team.
- Driven mindset for continuous improvement.
- Ability to establish strong relationships at all levels and in multiple regions.
- Excellent communication skills.
- Experience in the insurance or financial services sector.
- Strong knowledge of AML regulatory requirements and best practices, including client due diligence requirements and client risk assessments.
- Experience in compliance monitoring plans, quality assurance, or second line oversight.
- Excellent analytical skills alongside strong written communication skills.
- Ability to manage competing priorities effectively.
- Proficiency in Microsoft 365, particularly Excel and other tracking and reporting tools.
What You’ll Love:
This role offers the chance to play a key part in maintaining and enhancing the jurisdiction’s reputation. You will work in a collaborative environment with opportunities to develop your skills in regulatory oversight, policy creation, and risk-based supervision. The organisation values professional growth and offers ample opportunities for training and career development.
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