Anti-Money Laundering Officer - OML job at Old Mutual

Background information about the job or company (e.g., role context, company overview)

Lets Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

JOB PURPOSE

The role holder is responsible for ensuring Old Mutual Uganda’s compliance with Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), and Counter Proliferation Financing (CPF) regulations. This includes implementing and maintaining effective controls, monitoring transactions, managing financial crime risks, and ensuring timely regulatory reporting, while safeguarding the organization’s reputation and integrity.

Responsibilities or duties

KEY RESPONSIBILITIES

Regulatory Compliance & Governance

• Support the Accountable Person in fulfilling statutory obligations under applicable AML, CFT, and CPF laws and regulations
• Ensure full implementation and ongoing maintenance of the Risk Management and Compliance Programme (RMCP)
• Stay up to date with evolving AML/CFT/CPF legislation and regulatory guidelines, ensuring timely updates to internal policies and procedures

Risk Management & Monitoring

• Identify, assess, and mitigate money laundering, terrorist financing, and proliferation financing risks
• Conduct AML/CFT/CPF Business Risk Assessments in line with regulatory and RMCP requirements
• Perform due diligence reviews on strategic business partners to assess AML and regulatory risks
• Support product risk assessments and approval processes as the subject matter expert

Transaction Monitoring & Investigations

• Investigate and manage AML alerts, including transaction monitoring, watchlist screening (UN, OFAC, HMT, EU), and PEP alerts
• Escalate material AML/CFT/CPF risks, breaches, or non-compliance issues to the MLCO or Group AML Officer
• Maintain proper documentation and audit trails for all investigations and resolutions

Reporting & Stakeholder Management

• Ensure timely and accurate regulatory and internal reporting
• Report suspicious transactions to the MLCO for onward reporting to the Financial Intelligence Authority (FIA)
• Provide regular updates to senior management on AML/CFT/CPF and regulatory compliance risks
• Maintain accurate AML records, including training logs, investigation reports, and compliance documentation
• Ensure timely reporting through internal systems (e.g., CURA)

Process Improvement & Advisory

• Review and enhance AML/CFT/CPF processes to address gaps and improve efficiency
• Provide advisory support to business units on AML/CFT/CPF compliance requirements
• Support the development and implementation of compliance risk management and monitoring plans

Training & Awareness

• Develop and deliver ongoing AML/CFT/CPF and sanctions training programs for staff and intermediaries
• Promote a strong compliance culture across the organization

Audit & Collaboration

• Support internal and external audits, reviews, and regulatory inspections
• Collaborate with the Risk and Compliance Manager and Group AML Officer on investigations and information requests

ANTI-MONEY LAUNDERING (AML) EXPECTATION

The incumbent will be responsible for ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries. This includes execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality. Additionally, the role involves identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

Qualifications or requirements (e.g., education, skills)

Qualifications:

• Bachelor’s degree in Compliance, Law, Risk Management, Finance, or a related field
• Professional certification in Anti-Money Laundering or Compliance Management is an added advantage

Experience needed

Experience:

• Minimum of 3 years’ experience in AML/compliance within the financial services sector

SKILLS & COMPETENCIES

Strong knowledge of AML/CFT/CPF regulations and frameworks

Excellent analytical and investigative skills

Proficiency in data analysis and reporting tools

High level of integrity and ability to handle confidential information

Strong communication and stakeholder engagement skills

Attention to detail with strong organizational abilities

Proactive, self-driven, and results-oriented mindset

Ability to work independently and manage multiple priorities

Skills

Business Risks, Compliance Management, Legal Practices, Regulatory Compliance, Regulatory Compliance Management

Competencies

Action Oriented

Collaborates

Communicates Effectively

Decision Quality

Ensures Accountability

Instills Trust

Manages Complexity

Optimizes Work Processes

• Support the Accountable Person in fulfilling statutory obligations under applicable AML, CFT, and CPF laws and regulations
• Ensure full implementation and ongoing maintenance of the Risk Management and Compliance Programme (RMCP)
• Stay up to date with evolving AML/CFT/CPF legislation and regulatory guidelines, ensuring timely updates to internal policies and procedures
• Identify, assess, and mitigate money laundering, terrorist financing, and proliferation financing risks
• Conduct AML/CFT/CPF Business Risk Assessments in line with regulatory and RMCP requirements
• Perform due diligence reviews on strategic business partners to assess AML and regulatory risks
• Support product risk assessments and approval processes as the subject matter expert
• Investigate and manage AML alerts, including transaction monitoring, watchlist screening (UN, OFAC, HMT, EU), and PEP alerts
• Escalate material AML/CFT/CPF risks, breaches, or non-compliance issues to the MLCO or Group AML Officer
• Maintain proper documentation and audit trails for all investigations and resolutions
• Ensure timely and accurate regulatory and internal reporting
• Report suspicious transactions to the MLCO for onward reporting to the Financial Intelligence Authority (FIA)
• Provide regular updates to senior management on AML/CFT/CPF and regulatory compliance risks
• Maintain accurate AML records, including training logs, investigation reports, and compliance documentation
• Ensure timely reporting through internal systems (e.g., CURA)
• Review and enhance AML/CFT/CPF processes to address gaps and improve efficiency
• Provide advisory support to business units on AML/CFT/CPF compliance requirements
• Support the development and implementation of compliance risk management and monitoring plans
• Develop and deliver ongoing AML/CFT/CPF and sanctions training programs for staff and intermediaries
• Promote a strong compliance culture across the organization
• Support internal and external audits, reviews, and regulatory inspections
• Collaborate with the Risk and Compliance Manager and Group AML Officer on investigations and information requests
• Ensuring adherence to, implementation of, and adoption of Compliance, Anti-Money Laundering (AML), and Sanctions-related policies, procedures, and process requirements within Old Mutual and its subsidiaries.
• Execution of customer due diligence processes, ensuring compliance with Know-Your-Customer (KYC) standards, conducting ongoing and enhanced due diligence, and maintaining data quality.
• Identifying and monitoring potential AML, Sanctions, or Compliance breaches and unusual activities, and escalating these concerns to the Risk and Compliance Office for further action.

• Strong knowledge of AML/CFT/CPF regulations and frameworks
• Excellent analytical and investigative skills
• Proficiency in data analysis and reporting tools
• High level of integrity and ability to handle confidential information
• Strong communication and stakeholder engagement skills
• Attention to detail with strong organizational abilities
• Proactive, self-driven, and results-oriented mindset
• Ability to work independently and manage multiple priorities
• Business Risks
• Compliance Management
• Legal Practices
• Regulatory Compliance
• Regulatory Compliance Management

• Bachelor’s degree in Compliance, Law, Risk Management, Finance, or a related field
• Professional certification in Anti-Money Laundering or Compliance Management is an added advantage