AML Risk Advisory Specialist

The AML Risk Advisory Specialist serves as a core subject matter expert within the Second Line of Defence (2LoD), providing dedicated risk-based guidance on Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), Countering Proliferation Financing (CPF), and Targeted Financial Sanctions (TFS). This position is responsible for analyzing complex risk parameters, evaluating high-risk customer profiles, and advising business lines on effective risk mitigation strategies.

This role reports directly to the Financial Crime Risk Lead, who reports to the Chief Risk Officer (CRO).

Key Responsibilities

Risk Advisory & Case Governance

• High-Risk Onboarding & Reviews: Conduct technical risk assessments and support analysis for sign-off for High-Risk Customers (HRC), Politically Exposed Persons (PEPs), and structurally complex legal entities or trusts.
• Escalation & Parameter Management: Analyze complex escalations involving Sanctions screening, adverse media, and material negative news, establishing clear risk recommendations for Business Units (BUs).
• Onboarding Risk: Evaluate risk parameters and dictate control expectations for customer onboarding, electronic Know Your Customer (e-KYC) variations, and digital channels.
• Monitoring and Reviews: Perform vendor name screening reviews, STR approvals
• Analytics – Work with Operations and Intelligence PICs to introduce / review monitoring scenario / rules, including testing.

Product, Channel, & Third-Party Assessments

• New Product Approvals (NPA): Review and evaluate AML/CFT/CPF risks for all new product launches, digital deployment channels, and payment modifications prior to market release.
• Outsourcing & Third-Party Due Diligence: Perform independent risk assessment reviews and due diligence on third-party service providers, agents, and outsourced operational functions.
• Other Assessments: Review or perform Periodic/adhoc assessments, depending on the needs and requirements.

AML Systems and Thresholds Maintenance

• AML Module - Screening, Transaction Monitoring- Work with vendors and internal engineers on configurations in UAT and production environments, implementation and deployment of changes, perform testings and validations together with ops and intelligence team.

Testing, Governance, & Reporting

• Regulatory Liaison Support: Support the Financial Crime Risk Lead during inspections, audits, and inquiries conducted by Bank Negara Malaysia (BNM) or other local statutory bodies.
• Assurance Testing & Monitoring (CTM): Plan and execute periodic, targeted 2LoD assurance testing programs to verify that First Line of Defence (1LoD) financial crime controls function optimally.
• Enterprise Risk Assessments: Provide data, analytics, and risk insights to drive the annual Enterprise-Wide Risk Assessment (EWRA) and compile recurring Management Information (MI) reports for risk committees.
• Committee support: - Secretariat to FRAML Committee, FCR main contact for all management and board committee matters.

Framework Maintenance & Training

• Policy Implementation: Assist in updating internal policies, Customer Acceptance Procedures, and specific AML/CFT guidelines to directly align with the latest BNM Policy Documents and FATF standards.
• Targeted Training: Design and deliver specialized AML Risk training sessions tailored to high-risk business lines and frontline operations.

Required Skills & Qualifications

Experience & Education

• Education: Bachelor’s degree in Risk Management, Law, Finance, Accounting, Business, or a related discipline.
• Experience: >10 years of specialized financial crime experience in AML/CFT advisory, risk management, or compliance audit within the Malaysian financial sector (Banking, Digital Bank, Fintech, or Insurance).
• Regulatory Knowledge: Deep understanding of Malaysian anti-money laundering legislation, specifically the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) and the updated BNM Policy Document on AML/CFT/CPF and TFS.

Technical Certifications & Competencies

• Professional Certification: Professional credential such as CAMS (Certified Anti-Money Laundering Specialist), ICA (International Compliance Association) Advanced Certificate/Diploma, or equivalent industry-recognized qualifications is a plus.
• Analytical Skills: Advanced ability to analyse and interpret data for monitoring, prevention and detection, analysing corporate shareholding structures, determine ultimate beneficial ownership (UBO), and isolate complex money laundering typologies.
• Stakeholder Management: Exceptional communication skills to deliver a balanced but effective challenge mechanism to business units regarding their choice of client risk profiles.