About Allied Cooperative Insurance Group (ACIG)

Allied Cooperative Insurance Group (ACIG) is seeking an AML Assistant Manager to join its Compliance & AML Department. This full-time position is based in Riyadh, Saudi Arabia, and plays a crucial role in maintaining the company's financial crime prevention framework.

The Role of AML Assistant Manager

The AML Assistant Manager is responsible for supporting and overseeing day-to-day Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), sanctions, and financial crime compliance activities. This role ensures the effective implementation of AML/CTF policies, procedures, controls, monitoring, and reporting in accordance with ACIG requirements and applicable regulations. The position supports the Compliance & AML Manager in strengthening the Company’s financial crime control environment and ensuring compliance with the Saudi Insurance Authority and other relevant authorities.

Core Responsibilities

• Support the implementation and maintenance of the Company’s AML/CTF framework, policies, procedures, and controls.
• Conduct and support AML/CTF risk assessments across relevant business activities and customer segments.
• Oversee customer due diligence and enhanced due diligence activities for higher-risk customers and relationships.
• Monitor transactions and activities for unusual or potentially suspicious patterns and ensure appropriate escalation.
• Review AML alerts and support the investigation and assessment of potentially suspicious activities.
• Support the preparation and filing of required suspicious transaction reports in accordance with applicable regulatory requirements and internal escalation protocols.
• Monitor sanctions, watchlists, and other applicable financial crime screening requirements.
• Maintain accurate AML/CTF records, registers, documentation, and supporting evidence.
• Monitor changes in AML/CTF regulations and support the implementation of required changes to policies and controls.
• Prepare periodic AML reports, management information, and regulatory submissions.
• Coordinate with Underwriting, Claims, Finance, Sales, Operations, and other functions on AML/CTF matters.
• Support regulatory examinations, internal audits, and compliance reviews related to AML/CTF.
• Conduct AML/CTF awareness and training activities for employees.
• Supervise and support AML staff and ensure timely completion of assigned activities.
• Escalate significant AML/CTF concerns and control weaknesses to the Head of Compliance & AML.

Required Experience

Candidates should possess 5 to 10 years of experience in a relevant field, demonstrating a strong understanding of Anti-Money Laundering and Counter-Terrorist Financing principles and practices.

Departmental Context

This role operates within the Compliance & AML Department, contributing to the overall integrity of ACIG's financial operations. The AML Assistant Manager works closely with the Compliance & AML Manager and reports on significant AML/CTF concerns and control weaknesses to the Head of Compliance & AML.

Application

Qualified candidates are encouraged to apply for this position.