AML Analyst

Jubilee Life Insurance Company Ltd.

Karachi , Pakistan

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This role involves supporting the organization’s Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) compliance efforts by thoroughly understanding relevant laws and regulations. The candidate will be responsible for monitoring and assessing high-risk customers, screening against various watchlists, and ensuring all activities comply with regulatory requirements. The position also includes conducting compliance audits, maintaining accurate records, and providing training to internal teams to strengthen overall compliance culture. Additionally, the role requires collaboration with law enforcement agencies and timely reporting under FATCA and CRS frameworks.

Key Responsibilities

- Study and stay updated on AML/CFT laws to ensure full compliance within the organization.
- Assess high-risk customers identified through the ISF Transaction Monitoring System.
- Screen customers using IDENFO Name Screening Software and evaluate alerts generated.
- Maintain and update internal databases including PEPs, NACTA lists, blacklisted agents, reported individuals, UNSC lists, and corporate key persons, and upload these to the ISF AML Screening System for comprehensive customer screening.
- Prepare and submit Suspicious Transaction Reports (STRs) to the Financial Monitoring Unit (FMU).
- Gain familiarity with insurance-related laws to ensure regulatory compliance in this sector.
- Conduct compliance audits across various functional areas to monitor adherence to regulations and report findings accordingly.
- Maintain accurate records of Know Your Customer (KYC) documentation and STRs.
- Provide training sessions to Operations and Sales teams as needed to enhance compliance awareness.
- Perform Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and risk categorization of customers.
- Participate in AML/CFT system development and process improvements.
- Conduct Enhanced Due Diligence through third-party investigations when required.
- Carry out corporate screening to identify beneficial owners of legal entities.
- Categorize corporate customers based on risk levels.
- Screen customers against proscribed individuals and entities lists received from the Government of Pakistan, UNSC, and other sources, maintaining detailed records for regulatory inspections.
- Search for proscribed names through the SECP ePortal within the customer database.
- Perform NADRA Verisys verification.
- Drive innovation and automation initiatives to improve compliance processes.
- Respond promptly to queries from Law Enforcement Agencies (LEAs).
- Handle FATCA and CRS reporting requirements accurately and timely.

Required Qualifications

- Bachelor’s degree in any relevant field.
- 0–1 year of experience; fresh graduates are encouraged to apply.

Preferred Qualifications and Benefits

- While no specific preferred qualifications or benefits are listed, candidates with a keen interest in regulatory compliance, strong analytical skills, and a proactive approach to learning will excel in this role. The position offers an excellent opportunity for recent graduates to gain hands-on experience in AML/CFT compliance within the insurance sector and develop a career in regulatory affairs.

This role is ideal for individuals seeking to build expertise in AML/CFT compliance, regulatory reporting, and risk management within a dynamic and regulated environment.