Company Description
American Express Saudi Arabia, established in 1999, leads the financial sector with innovative payment solutions tailored for individuals and businesses. Committed to delivering excellence, the company provides advanced payment options, including credit and charge cards, designed to meet the diverse needs of its customers. As the leader in the Kingdom's card business payment sector, American Express Saudi Arabia supports financial flexibility by offering tools to manage expenses and optimize cash flow. By integrating global payment capabilities, extensive products, and world-class experiences, the team helps customers and businesses thrive. Join American Express Saudi Arabia and be part of a dynamic, forward-thinking organization driving financial innovation and success.
Job Purpose:
To assist through a defined job scope AESA in complying with the regulatory requirements of AML/CTF and ensure all are met in the defined timeframe.
Key Accountabilities:
- Reviews AML/compliance with applicable regulatory guidelines issued by Saudi Central Bank (SAMA) and other relevant regulatory bodies to assist in ensuring all regulatory requirements are implemented.
- Performs thorough investigation on alerts generated by the transaction monitoring system (i.e. SAS AML) for potential Money Laundering and Terrorist Financing activities.
- Carry's out ad-hoc investigations or internal reviews as requested by the Head of AML.
- Reviews and investigates potential match cases generated by the Sanctions Screening system (and take appropriate actions where applicable in line with AML/CFT policies and procedures.
- Ensures that systems alerts are actioned before the defined policy time limits.
- Processes High Risk and PEP applications for new and existing customers. Performs EDD, update the relevant logs and obtain Senior Management approval for establishing/continuing relationship.
- Assist in performing the PEP CMs annual review including monitoring of their transactions and KYC information. Tracks progress and creates the approval forms.
- Assists in filing Suspicious Transaction Reports (STRs), collecting related information, coordinating with related departments, etc.
- Reviews business requests such as (Refund), investigates and provide no objections in accordance to the AML/CFT policy & procedures.
- Track, monitor and update AML/CFT logs such as systems changes logs, KYC request logs etc. and ensure that it's up to date.
- Updates & reviews SAS AML STR and monitored CMs inventory.
- Update & review TMS scenarios to ensure that they are functioning and update to relevant AML/CFT best practices
- Develop, enhances and submits daily, weekly or monthly reports on AML/CFT as requested by Head of AML
- Reviews and updates cash payments reports, investigates unusual transactions and report suspicious transactions.
- Carries out tasks related to AML/CFT as instructed by Head of AML.
- Participates in projects that are related to regulatory compliance/AML to ensure regulatory requirements are adequately implemented.
- Participates in the Monitoring and testing program by conducting spot checks and periodic testing to ensure that relevant functional departments adhere to AML/CFT regulatory requirements.
- Assists in identifying potential areas of compliance/AML vulnerability and risk, develop and implement corrective action plans for resolution of problematic issues.
- Perform other duties as assigned by the Head of AML and Chief Compliance Officer.
- Attending AML Finance Companies Committee meeting Quarterly
