AML ANALYST I Dubai | Financial Services| Orient Insurance PJSC

Job Requisition ID: 181394 

About Al-Futtaim

Established in the 1930s, Al-Futtaim is one of the most diversified and progressive privately held regional businesses, headquartered in Dubai. Operating across more than 20 countries, the Group spans automotive, financial services, real estate, retail and health. With more than 40,000 employees, Al-Futtaim represents over 200 of the world’s most recognised brands, including Toyota, Lexus, IKEA, ACE and Marks & Spencer. Driven by its purpose to enrich lives and elevate communities, Al-Futtaim focuses on digital innovation, AI, sustainable growth and strategic partnerships, creating long-term value for customers, communities and partners while building a responsible legacy for future generations.

Job Role:

We are currently seeking an AML Analyst to join our Insurance Division.

The AML Analyst is responsible for assisting the Compliance Department in establishing and implementing internal procedures related to Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), Counter-Proliferation Financing (CPF), Foreign Account Tax Compliance Act (FATCA), and Common Reporting Standard (CRS). The role supports the Compliance Department in ensuring that an appropriate framework, governance structure, and controls are in place to maintain compliance across the Insurance Division in line with applicable AML, CTF, CPF, FATCA & CRS regulatory requirements.

Job Responsibilities:

• Assist the Compliance Department in the development and implementation of AML, CTF, CPF, FATCA, and CRS policies and procedures.
• Regularly coordinate and follow up with internal departments to obtain required due diligence documents.
• Execute due diligence activities in accordance with defined processes and applicable regulatory guidelines.
• Complete enterprise-wide risk assessments and client risk assessments in accordance with established procedures and regulatory requirements.
• Track and manage relevant documentation in accordance with the record retention policy.
• Ensure all reporting timelines are met in accordance with agreed Turnaround Times (TATs).
• Support the screening and transaction monitoring systems review and implementation.
• Identify red flags and control issues relating to KYC and client onboarding.
• Conduct investigations and prepare Suspicious Activity Reports (SARs) and Suspicious Transaction Reports (STRs).
• Liaise with regulators and supervisors in connection with the AML, CTF, CPF, FATCA, CRS program and related regulatory matters.
• Build strong partnerships with Internal Audit, Operations, Business Development, and other stakeholders in connection with the AML, CTF, CPF, FATCA, and CRS programs.
• Work with leaders across the organization to address and resolve related open issues in a timely and effective manner.
• Seek AML, CTF, CPF, FATCA, and CRS compliance advice from the Compliance Committee, and organize and participate in Compliance Committee meetings.
• Ensure the timely filing of regulatory reports with the relevant regulator.
• Develop training presentations and conduct training relating to AML, CTF, CPF, FATCA, and CRS.
• Assist in the planning and execution of AML, CTF, CPF, FATCA, and CRS compliance reviews, including the analysis of results.
• Work with business lines during testing to understand control processes and identify action plans to address control deficiencies.
• Communicate with various levels of management to ensure compliance with applicable regulatory and internal requirements.
• Maintain ongoing awareness and current knowledge of all applicable internal and external AML, CTF, CPF, FATCA, and CRS regulatory requirements, and identify any issues that could impact the Institution.
• Review high-risk relationships, particularly cases escalated to Senior Management, and ensure that all relevant risks are appropriately highlighted for management sign-off.

Job Requirements:

• Minimum of 3 years of AML, CTF, CPF, FATCA, and CRS compliance experience in the banking, insurance, or related industries.
• Bachelor’s degree in finance, Law, Commerce, or Business Administration.
• Language Skills: Excellent oral and written English communication skills.
• Excellent organizational skills, with the ability to prioritize workload, demonstrate resilience, and work effectively under pressure.
• Excellent interpersonal skills, with the ability to communicate confidently with various levels of management.
• Strong AML, CTF, CPF, FATCA, and CRS analytical skills, with a good knowledge and understanding of industry best practices, internal controls, and regulatory requirements.
• Knowledge of transaction monitoring systems and screening tools.
• Knowledge of applicable laws, decisions, resolutions, guidelines, and regulatory requirements relating to AML, CTF, CPF, FATCA, and CRS.

About Orient Insurance PJSC

Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a 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.