Head, AML

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Head, AML & Financial Crimes (PFA)
role at
Prudential Assurance Company Singapore
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Join to apply for the
Head, AML & Financial Crimes (PFA)
role at
Prudential Assurance Company Singapore
Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.
Job Summary
In this role, you will be the designated Money Laundering Reporting Officer (MLRO) and will support the Company in meeting its regulatory and regional obligations on Anti-Money Laundering/Sanctions (AML) and Anti-Bribery & Corruption (ABC). You will also contribute to build a framework that commensurate with the business model of the Company. Given the increasing regulatory expectations, you will focus on supporting the MLRO in strengthening the AML & ABC frameworks and building the competency of the team.
Job Description
Establish, with regular review, the AML and ABC framework, taking into consideration regulatory requirements, Group standards and operating environment, including the different types of risks such as customer, product and geographical location
Provide leadership, direction and day-to-day guidance.
Assist the Head of Governance Transformation and Acting Head of Risk and Compliance in collaborating and presenting complex information, recommendations and risk mitigants in the area of AML and ABC with senior stakeholders in the organisation
Promoting a heathy and strong AML and ABC awareness and culture within the organization
Work with Head of Governance Transformationand Acting Head of Risk and Complianceto perform annual review of the enterprise-wide AML & ABC risk assessments
Perform quarterly quality assurance review on screening and transaction monitoring alerts closed by AML Ops and FCC
Oversee the preparation of quarterly MI reporting for AML and ABC for risk committee meeting
Oversee annual high-risk customer review
Actively identify and manage key AML & ABC controls: screening, enhanced due diligence, transaction monitoring, gifts and hospitality controls
Support in reporting and presenting findings, as required, to local management, Group office and Board Audit Committee
Ensure adherence to and provide advice and guidance to senior management, business units on new products, processes and/or initiatives to identify financial crime risks and recommend proposed risk mitigants
Manage regulatory contact with MAS and enforcement agencies on AML matters.
Report suspicious activity to the authorities and act as cover to Head of Governance Transformationand Acting Head of Risk and Compliance for any incoming queries regarding suspicious activity
Oversight and delivery of AML & ABC training to the Board of directors, staff and agency force
Partner with relevant business functions on all AML matters, including documentation requirements for higher-risk customers
Designated approver, as delegated by the Board, for onboarding higher-risk customers
Who We Are Looking For
10 years of experience in an AML related role, preferably having dealt with AML requirements for high net worth / private banking customers.
Analytical and attentive to details
Excellent understanding of AML requirements
Degree/diploma in any discipline
AML certifications preferred (e.g. ACAMS, ICA)
Prudential is an equal opportunity employer.
We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into