The Financial Crime Director/Associate Director is responsible for leading the Financial Crime Compliance (FCC) function and overseeing the design and execution of a comprehensive framework to manage financial crime risks, including anti-money laundering (AML), counter-terrorist financing (CTF), sanctions, anti-bribery and corruption (ABC), fraud, and market conduct. The leadership role ensures that policies, systems, controls and processes are in place to comply with the applicable laws and regulatory expectations.
As a strategic lead for financial crime compliance, the Director provides subject matter expertise, drives strategic initiatives, oversees investigations, and ensure regulatory requirements and internal standards are met.
Key Responsibilities
1. Strategic oversight of Financial Crime Compliance
- Lead the end-to-end financial crime compliance strategy, ensuring alignment with regulatory developments and group policies.
- Define and implement the FCC framework covering AML/CTF, sanctions, ABC, fraud risk, and market conduct.
2. Governance, Risk Assessment, and Reporting
- Oversee the FCC risk assessment process and ensure appropriate controls and remediation actions are in place.
- Lead the preparation of FCC dashboards, thematic risk updates.
- Establish governance forums or working groups as necessary to oversee FCC implementation across the organization.
3. Customer Due Diligence, Transaction Monitoring and Screening
- Provide leadership over the implementation and maintenance of customer due diligence (CDD), enhanced due diligence (EDD), and know-your-customer (KYC) practices across all lines of business and distribution channels.
- Oversee the effective name screening and transaction monitoring systems.
- Ensure appropriate escalation, investigation, and filing of Suspicious Transaction Reports (STRs).
3. Investigations and Case Management
- Lead and manage internal investigations including fraud, bribery, misconduct cases.
- Provide oversight on case handling, documentation, remediation and root cause analysis.
- Coordinate with Legal, HR, and other functions in managing investigation outcomes
4. Stakeholder Engagement and Advisory
- Provide FCC oversight and advisory support across all distribution channels, including agency, broker and partnership models.
- Work with the Financial Crime Manager to support intermediary onboarding and periodic reviews
5. Training and Awareness
- Oversee the design and delivery of FCC training to staff, agents, and distribution partners on AML, ABC, fraud risk, and conduct expectations.
- Promote a proactive compliance culture through communications, staff engagements and thematic awareness campaigns.
6. Regulatory Engagement and Reporting
- Prepare internal and external reports on FCC activities, including updates to senior management, governance committees, and regulators.
- Support interactions with the Insurance Authority (IA), the Joint Financial Intelligence Unit (JFIU), and Group Compliance functions.
7. Projects and Systems Enhancement
- Lead projects to enhance AML/CFT-related systems, such as screening tools, monitoring platforms, and case management solutions.
8. Leadership and Team Management
- Build and lead a high-performing FCC team with clear accountabilities, development plans, and successful strategies.
- Provide coaching and support to direct reports including Financial Crime Managers.
