- 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.
- A Bachelor's degree in Finance, Economics, Law, Actuarial Science, or a Business-related field. A postgraduate Master's degree and professional qualification in Compliance, Risk Management, or Anti-Money Laundering will be an added advantage.
- Professional certification in AML/CFT such as Certified Anti-Money Laundering Specialist (CAMS), ICA International Diploma in Anti-Money Laundering, or equivalent certification from a recognized body is highly desirable.
- Demonstrated in-depth understanding of the Kenyan regulatory environment including the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA), Prevention of Terrorism Act (PoTA), Insurance Act, Insurance Regulatory Authority (IRA) guidelines, and Financial Reporting Centre (FRC) requirements.
- Strong knowledge of FATF Recommendations, international AML/CFT/CPF standards, sanctions regimes, and emerging financial crime typologies.
- Comprehensive understanding of life insurance operations, products, distribution channels, and associated money laundering and terrorism financing vulnerabilities.
- Proficiency in AML screening tools, transaction monitoring systems, and regulatory reporting platforms.
- Excellent analytical, investigative, and problem-solving skills with the ability to identify and assess complex financial crime risks.
- Strong written and verbal communication skills, including the ability to prepare comprehensive reports and deliver effective training programs.
- Demonstrated high integrity, ethical standards, and commitment to confidentiality.a
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