Description

I. Job Description:

Responsible for managing the company's Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) compliance system, ensuring life insurance business complies with the requirements of the Hong Kong Insurance Authority (IA) and international regulatory standards (e.g., FATF). Design and implement a compliance framework tailored for the insurance business, monitor policy transaction risks, and respond to regulatory inspections.

II. Key Responsibilities:

Compliance Policy and System Development:

• Develop and optimize AML/CFT policies, procedures, and internal control mechanisms for life insurance business, covering underwriting review, policy renewal, claims processing, and other links.
• Update internal policies in accordance with the Hong Kong Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (AMLO) and guidelines from the Insurance Authority.

Customer Due Diligence (KYC/CDD):

• Maintain the AML name screening system and coordinate relevant departments to conduct name screening work.
• Supervise the identity verification (KYC) and risk classification of new policyholders, and periodically review existing customer information.
• Conduct Enhanced Due Diligence (EDD) on high-risk customers (e.g., Politically Exposed Persons, cross-border policyholders), submit high-risk customers for approval, and manage the high-risk customer list and files.
• Review the source of funds for trust, corporate clients, and complex policy structures.

Transaction Monitoring and Reporting: Manage the monitoring system for policy-related large and suspicious transactions, investigate alert cases, and timely submit Suspicious Transaction Reports (STRs) to the Joint Financial Intelligence Unit (JFIU).

Risk Assessment and Audit:

• Conduct money laundering risk self-assessments, prepare compliance reports; coordinate internal and external audits and IA inspections.
• Ensure compliance systems (e.g., transaction monitoring tools) are adapted to the characteristics of the life insurance business (e.g., annuity insurance, participating insurance, cross-border policies).

Regulatory Liaison and Communication:

• Act as the primary contact for communication with regulatory authorities such as the HK Insurance Authority and the HK Monetary Authority, responding to inquiries and inspections.
• Collaborate with business, claims, and actuarial departments to embed compliance requirements into product design and sales processes.

Training and Culture Building : Organize internal AML training to enhance overall compliance awareness; provide compliance advice to management.

III. Qualifications:

Education and Major: Bachelor's degree or higher in Law, Finance, Insurance, Accounting, or a related field.

Work Experience: Minimum of 3 years of AML compliance experience in life companies or banks, familiar with Hong Kong's AMLO and insurance regulatory requirements.

Professional Knowledge and Skills:

• Proficient in Hong Kong's AML/CFT legal framework, insurance product KYC/EDD processes, and sanctions list screening.
• Familiar with life insurance business (e.g., investment-linked policies, claims process) and RegTech tools.
• Excellent written and verbal communication skills in English and Chinese (Mandarin, Cantonese, and English required).

Certifications and Qualifications: Professional certifications such as CAMS (Certified Anti-Money Laundering Specialist), AAMLP, or ECF-AML are preferred.

Personal Attributes: Meticulous analytical skills, risk awareness, and moral integrity; ability to handle multiple tasks independently.