Anti Money Laundering and Compliance officer job at Old Mutual | Apply Now

The role holder will be responsible for ensuring the Old Mutual Uganda business’s compliance with Anti-Money Laundering (AML); countering Financing of Terrorism and Proliferation regulations, mitigating financial crime risks, and maintaining a robust AML/CFT/CPF program. The role involves implementing policies, procedures, and controls to detect, prevent, and report suspicious transactions while safeguarding the Old Mutual’s reputation and financial integrity

To assist the Old Mutual’s Accountable Person in discharging their statutory reporting obligations in terms of the Anti-Money Laundering, Anti-Terrorism and Combating Proliferation act and regulations.

Implement the Risk Management and Compliance Program, determine controls and procedures to mitigate money laundering (ML), terrorist financing (TF) and proliferation financing (PF) risks in-line with the AML/ Counter Terrorist and Proliferation Financing (CTPF) Risk Management and Compliance Programme (RMCP).

Design, implement or review existing processes regularly to identify gaps and potential inefficiencies and contribute development and implementation of new processes or working instructions

AML/CFT/CPF alerts management -Investigate and manage timeously transaction monitoring; watchlist (UN/OFAC/HMT/EU hits) or PEP alerts

Investigate and escalate immediately material AML, CFT/CPF and sanction breaches, risks, risk events or material non-compliance to the MLCO or Group AML Officer

Deliver holistically on all the regulatory and internal reporting requirements. Discharge mandatory reporting obligations by reporting suspicious transactions to MLCO, for onward reporting to Financial Intelligence Authority (FIA).

Remaining fully up to date with AML/CFT/CPF legislation/guidance in Country and ensuring timely updates to implement changes in legislation/regulation.

Product risk assessments and new product approvals – support the business as the subject matter expert on AML/CFT/CPF product risk assessment governance and approvals.

Regularly reporting to the senior management to ensure that AML/Sanctions /CFT/CPF and Regulatory Compliance risks are adequately identified, understood and managed.

Continuously develop and review the AML/CFT/CPF/ Sanctions and Regulatory Compliance systems to ensure they remain up to date, meet current statutory and regulatory requirements and are effective in managing AML/Sanctions /CTF and Regulatory Compliance risks arising from the business.

Provide advice to all relevant departments/ divisions in the performance of their duties in accordance with the AML/CFT/CPF policy and regulations

Responsible for the development and implementation of a robust, continuous AML/CFT/CPF/ Sanctions training program for all staff and intermediaries.

Cooperating with Risk and Compliance Manager or Group AML Officer on requests for information, reviews, audits and investigations on the Anti-Money Laundering Act/AML/CFT/CPF related investigations

Conduct the AML/CFT/CPF Business Risk Assessment in line with regulatory and RMCP requirements.

Assisting the Risk and Compliance Manager in the development, implementation and maintenance of compliance risk management and monitoring plans for Old Mutual Uganda, specific to AML

Conduct due diligence review on strategic business partner to evaluate potential AML/Sanctions /CTF and Regulatory Compliance risks.

Maintenance of records related to AML/ CFT/CPF duties specified above including training records, review reports for back testing, supporting documents used to resolve alerts etc.

Ensuring effective and timeous reporting in respect of AML regulatory requirements, risks identified and overall AML/CFT/CPF compliance of Old Mutual entity, to various stakeholders within the organization including loading in CURA.

Handle other duties as assigned to assist overall regulatory compliance.