Senior Compliance Officer
Watania Takaful Family
Total des années d'expérience :7 years, 8 Mois
Monitor the AML checks within the company and overlook the screening process for all lines of business. Developed and Implemented AML Policies and Procedures for the company to comply with the set regulations. Developed and Implemented a Risk Framework as well as Risk Appetite to suit the company's business dealings and product offerings. Handled the CBUAE Examinations set in towards the policies and procedures as well as the AML Practices and brought about changes recommended by the CBUAE. Handling of all High Risk Cases for the company and evaluating the Risk Rating against the set Risk Appetite. Created a Tracking system to conduct independent AML Based Audits for all Departments
Partnered with the Compliance Manager to research and investigate cases red flagged by the RBA System Maintained Risk analysis models to improve company systems. Interacted with regulators and financial institutions to coordinate investigations related the company's Risk Appetite and Risk Tolerance levels. Created a screening tracker to identify any irregularities within the database based on various AML factors. Working with each department to form a company & group wide Corporate Governance Policy.
Generated a background review system for corporate clients as well as third parties based on various factors. This reduced the onboarding process time by 40%. Implemented improvement initiatives and developed compliance testing program to monitor and identify gaps in new and existing practices. Responsible for regulatory requirements such as FATCA, CRS, and ESR. Also responsible for filing STR's & SAR's on the GoAML Portal. Prepared training programs to improve compliance at all levels for AML & CFT as per the regulations. Developed new Risk Rating systems for the Individual Life Insurance Segment. Integrated sanction screening databases within the core system and redesigned the Due Diligence system for onboarding clients while adhering to local & international regulations. Counseled committees and department heads regarding compliance risks and standards. The same were used in creating tailored risk models for each Line of Business. Responsible for data analysis and customer profiling for developing new risk rating parameters and frameworks.
Developed and executed strategic initiatives to implement key changes and improvements in business development and sales programs. Acquired new clients while keeping a growing partnership with the current clients, notably some of the biggest in the current Indian Fashion Market. Managed and organized the company's operational expansion which resulted in a 70% increase in production. Created new revenue streams for the company through the expansion and onboarding of new clients.
Identified and documented detailed business rules and use cases based on requirements analysis. Developed data analysis and reporting for the travel insurance underwriting team. Created a prediction model for a new domestic travel insurance product that helped in tackling increasing loss ratios resulting in better and flexible pricing strategies. Developed a tracking system that would flag a channel which would go beyond a certain loss making limit for a set number of quarters. This helped with identifying & analyzing risk patterns and channels.