AML Manager (Anti-Money Laundering) I KSA I Financial Services I Orient Insurance PJSC

Job Requisition ID: 177131 

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 Description

The AML Manager is responsible for developing, implementing, and maintaining the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) framework within the organization. The role ensures compliance with regulatory requirements and protects the company from financial crime risks in line with Saudi regulations and insurance industry standards.

What you will do 

1. AML/CTF Framework Management

• Develop and maintain AML/CTF policies, procedures, and controls.
• Ensure alignment with regulatory requirements and international best practices.
• Periodically review and update AML frameworks based on regulatory changes.

2. Regulatory Compliance

• Ensure compliance with regulations issued by Saudi Central Bank and relevant financial crime laws.
• Act as a key point of contact with regulators on AML-related matters.
• Ensure timely submission of regulatory reports and disclosures.

3. Customer Due Diligence (CDD/KYC)

• Oversee implementation of Know Your Customer (KYC) and Customer Due Diligence (CDD) processes.
• Ensure enhanced due diligence (EDD) for high-risk customers.
• Monitor onboarding processes to ensure compliance.

4. Transaction Monitoring & Reporting

• Monitor transactions and activities for suspicious patterns.
• Investigate alerts and escalate suspicious activities.
• Prepare and submit Suspicious Transaction Reports (STRs) to relevant authorities.

5. Risk Assessment

• Conduct AML risk assessments across products, customers, and distribution channels.
• Identify and mitigate financial crime risks within the business.

6. Training & Awareness

• Develop and deliver AML training programs for employees.
• Promote awareness of financial crime risks and compliance responsibilities.

7. Investigations

• Lead investigations into suspected money laundering or fraud cases.
• Maintain proper documentation and evidence for regulatory review.

8. Reporting & Governance

• Prepare periodic AML reports for senior management and compliance committees.
• Track and report key AML metrics and incidents.

Required Skills to be successful 

• Bachelor’s degree in finance, Law, Business Administration, or related field.
• Minimum 5+ years of experience in AML, compliance, or financial crime within the insurance or financial services sector.
• Experience in the Saudi regulatory environment is required.
• Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist) are preferred.

What equips you for the role

• Strong knowledge of AML/CTF regulations and financial crime risks.
• Familiarity with KYC, CDD, and transaction monitoring systems.
• Analytical and investigative skills.
• High attention to detail and strong ethical standards.
• Good communication and reporting skills.
• Ability to work with regulators and cross-functional teams.

Key Relationships

• Compliance Department
• Risk Management Team
• Operations and Underwriting Teams
• IT/Data Teams
• Regulatory Authorities (e.g., Saudi Central Bank)

Performance Indicators (KPIs)

• Compliance with AML regulatory requirements
• Timely submission of STRs and regulatory reports
• Effectiveness of transaction monitoring systems
• Completion of AML training programs
• Reduction in compliance breaches and financial crime risks
• Audit and regulatory inspection outcomes

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.