PBTB | Assistant Manager – AML/CFT

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.

• Responsible for ensuring adherence and timely implementation of Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) policies, procedures and control measures
• Responsible for ensuring effective implementation of Prudential Group’s policies and standard on Financial & Economic sanctions

1) Effective implementation of BNM’s Anti-Money Laundering, Countering Financing of Terrorism and Targeted Financial Sanctions for Financial Institutions, Group and PCA Regional Anti-Money Laundering (AML), Counter Terrorism Financing (CTF) & Sanctions Standards (PCA RAMLS) in conducting due diligence reviews, reporting on the outcome of Anti-Money Laundering risk assessment and ensuring that remedial action is taken.

• Ensure PruBSN comply with AML/CFT guidelines issued by BNM and AML/CFT Standards issued by PCA & Group.
• Ensure that the appropriate AML/CFT procedures, including Customer due diligence (CDD), enhanced due diligence (EDD), record keeping, on-going due diligence, reporting of suspicious transactions and combating the financing of terrorism, are implemented effectively.

• Review & update “red flags” on money laundering risk annually.
• Monitor the daily red flags within the Timeline such as data for Top up, withdrawal, Surrender, NTU and monitor transactions conducted by tagged customer and STR received from the branches.
• Identify suspicious transaction and review the ground of suspicion upon receiving internal suspicious reports from relevant departments/branches, promptly submit the suspicious transaction report to BNM Financial Intelligence and Enforcement Department (FIED) if the suspicion is confirmed
• Maintains a complete file & register on all internally generated suspicious transaction reports and any supporting documentary evidence regardless that such reports have been submitted to the BNM FIED.

2) Effective identification and monitoring of suspicious activities and transaction and to ensure the escalation of suspicious transactions is implemented effectively.

• Review & update “red flags” on money laundering risk annually.
• Monitor the daily red flags within the Timeline such as data for Top up, withdrawal, Surrender, NTU (which above rm10K) and monitor transactions conducted by tagged customer and STR received from the branches.
• Identify suspicious transaction and review the ground of suspicion upon receiving internal suspicious reports from relevant departments/branches, promptly submit the suspicious transaction report to BNM Financial Intelligence and Enforcement Department (FIED) if the suspicion is confirmed
• Maintains a complete file & register on all internally generated suspicious transaction reports and any supporting documentary evidence regardless that such reports have been submitted to the BNM FIED

3) Effective high-risk customer review and provide guidance to employees on appropriate remediation action for higher risk customers.

• Ensure policy and processes put in place remains relevant to identify high risk customers and on-going due diligence is conducted on the business relationship with higher risk customer.

• Review HRC cases and ensure CDD and EDD are conducted prior to acceptance.
• Support PruBSN new business processing during month end.
• Perform risk profiling for top up or payout refer by Operations team.

4) Ensure the filtering and screening system is effectively implemented, have put in place reasonable and appropriate measures to verity and confirm identity of customers, agents, vendors and employees.

• Prompt review of alerts generated in the AML Automated watchlist screening system.

• Ensure all alerts are close within TAT
• Prompt escalation of alerts which are fully match against the database.
• Conduct reconciliation on total records extracted from source system database and total records being screened.
• Solve any issues related to screening (delay files, inaccurate data, not tally etc) and ensure all files were screened.
• Ensure appropriate mechanism is in place to conduct on-going monitoring on names identified as high risk

5) Assist in implementation of new system or system enhancement, preparing report as and when required and any ad-hoc task requested by Superior.

• Prepare AML report to Group Compliance and provide data/statistics for EXCO Updates, AML updates and Board Paper. These reports consist of data on HRC and STR submitted to Bank Negara, total alerts received and incident report. (As and when required with minimal error)
• Involve in User Access Testing and On-going Reliable Testing (ORT) for new system or any system enhancement

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 account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.