Develop, implement, and maintain the AML/CFT/CPF compliance framework, policies, and procedures in line with POCAMLA, PTA, IRA guidelines, and FATF recommendations. Conduct periodic reviews and updates of AML/CFT/CPF policies to ensure alignment with evolving regulatory requirements, including amendments to POCAMLA and related legislation. Assist the MLRO as a liaison between ICEA LION Life Assurance and the Financial Reporting Centre (FRC), Insurance Regulatory Authority (IRA), and other relevant regulatory bodies on AML/CFT/CPF matters. Conduct enterprise-wide AML/CFT/CPF risk assessments to identify, assess, and document money laundering, terrorism financing, and proliferation financing risks. Develop and maintain risk matrices, risk appetite statements, and key risk indicators (KRIs) for AML/CFT/CPF compliance monitoring. Monitor and assess emerging financial crime risks, including those arising from new products, services, delivery channels, and geographic exposure. Oversee the implementation of Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) procedures, ensuring compliance with regulatory requirements for customer identification and verification. Establish and maintain Know Your Customer (KYC) standards, including beneficial ownership identification and verification processes in line with the Companies Act and POCAMLA requirements. Develop and implement procedures for handling Politically Exposed Persons (PEPs), high-risk customers, and customers from higher-risk jurisdictions as defined under POCAMLA. Oversee transaction monitoring systems and processes to detect suspicious activities, unusual patterns, and potential financial crime indicators. Manage customer and transaction screening against sanctions lists, including UN Security Council sanctions, and ensure compliance with Targeted Financial Sanctions (TFS) requirements. Review and investigate AML alerts, escalate findings appropriately, and maintain comprehensive case management documentation. Prepare and submit Suspicious Transaction Reports (STRs), any Cash Transaction Reports (CTRs), and other mandatory reports to the Financial Reporting Centre within prescribed timelines. Ensure timely submission of Annual Compliance Reports, reports on customers from higher-risk countries, and other regulatory returns as required by the FRC and IRA. Maintain registration and compliance with goAML reporting system requirements and ensure accurate, complete record-keeping as mandated under POCAMLA regulations. Design, develop, and deliver comprehensive AML/CFT/CPF training programs tailored to various business units, including underwriting, claims, business development, and agency networks. Promote and reinforce a strong culture of financial crime prevention throughout the organization, emphasizing the importance of AML/CFT/CPF obligations and reporting responsibilities. Stay current with regulatory developments, industry best practices, FATF guidance, and emerging financial crime typologies relevant to the insurance sector. Prepare comprehensive AML/CFT/CPF reports for the Board Audit and Risk Committee, senior management, and regulatory authorities as required. Coordinate and facilitate internal and external AML/CFT/CPF audits, regulatory inspections, and examinations, ensuring timely closure of identified issues. Maintain accurate and complete AML/CFT/CPF records for a minimum period of seven years as required under POCAMLA, ensuring accessibility for regulatory audits and inspections. Collaborate with the Group Risk and Compliance function to ensure alignment of AML/CFT/CPF practices across other ICEA LION Group subsidiaries. Liaise with internal stakeholders including Legal, Internal Audit, IT, Operations, and Business Development on AML/CFT/CPF related matters. Conduct due diligence reviews on intermediaries, business partners, and third-party service providers to assess AML/CFT/CPF risks.
