Financial Crime Compliance

Job Description

Financial Crime Compliance Associate Director | FWD Group

The Tone:
This is an Associate Director role at FWD Life Philippines, a key part of FWD Group, a pan-Asian life and health insurance business listed on the Hong Kong Stock Exchange. FWD aims to change the way people feel about insurance through a customer-led and tech-enabled approach, delivering innovative propositions and a simpler experience. This role is crucial for establishing and operating the Financial Crime Compliance function as a reliable, repeatable, and resilient system, ensuring timely, accurate, and regulator-ready Anti-Money Laundering (AML) outputs. It contributes significantly to embedding a robust, risk-based Compliance Management Framework across the organization.

The TL;DR
• Role: Senior
• Type: Full-time
• Location: In-person, Philippines

• Team: Reports to the Head of Compliance within the Compliance team, providing advisory to Life Operations.
• Mission: Own and operate the Financial Crime Compliance function as a reliable, repeatable, and resilient system, ensuring timely, accurate, and regulator-ready AML outputs.
• Tech Stack: System extraction tools, transaction monitoring tools, compliance data analytics programs, dashboards.

What You’ll Actually Do
• Policy Management: Oversee the implementation of policies, guidelines, and procedures for AML, FATCA, Anti-Bribery, and Anti-Fraud for Distributors, including developing training materials and conducting training initiatives.
• Regulatory Monitoring: Regularly monitor new AML and FATCA regulations, provide updates to stakeholders, ensure gap analyses are conducted, and facilitate the implementation of regulatory changes.
• Transaction Reporting: Monitor the submission of Covered Transaction Reports (CTRs) and Suspicious Transaction Reports (STRs) to AMLC, ensuring accuracy and timeliness of system extractions, and overseeing future system enhancements.
• Monitoring & Escalation: Conduct and oversee ongoing transaction monitoring, including assessment, report preparation, escalation to the AMLO/Head of Compliance, and submission of STRs when necessary, while managing enhancements to monitoring tools.
• Data Analytics & Proactive Monitoring: Create, oversee, and maintain various Compliance data analytics programs, dashboards, or tools designed for proactive detection and monitoring of key trends and red flags, including post-sales quality.

The Must-Haves
• Background: Relevant tertiary qualifications and AML related certifications. Extensive exposure to AML regulations in the financial sector, either in the life insurance industry or BSP regulated entities.
• Experience: 5-8 years’ experience in Compliance, Risk, or Audit work. Strong background in AML, with basic working knowledge of FATCA.
• Skills: Data analytics background with the ability to interpret red flags and trends. Capability to understand, interpret, and implement relevant regulatory guidelines and Company policies.
• Bonus: Experience in leadership roles. Project management experience. Experience in conducting reviews and testing.