About Us:

Jerusalem Insurance (JICO) is one of Jordan’s leading insurance providers that offers a wide range of personal and corporate insurance services, ranging from motor, life, travel, and medical insurance to business insurance that covers the full spectrum of industry activities, like transportation, engineering, marine, and shipping.

With 49 years of experience in the industry, JICO has earned a distinguished reputation for its unwavering dedication to clients. Our commitment to excellence is reflected in our simple and innovative solutions that are highly sought after by businesses and individuals alike.

Position Overview:

JICO is a leading insurance company, that seeks a dedicated and experienced Compliance and AML Senior Officer to join our dynamic compliance team.

This critical role ensures adherence to all relevant regulatory standards, including those set forth by the Central Bank of Jordan (CBJ), the Jordan Securities Commission, and other local Jordanian laws, while effectively mitigating risks associated with anti-money laundering (AML) practices.

The ideal candidate will have a deep understanding of compliance within the insurance sector, possess outstanding analytical skills, and demonstrate a strong commitment to fostering a culture of compliance throughout the company.

Responsibilities:

• Regulatory Compliance:
• Oversee the company’s compliance with applicable laws and regulations, including Anti-Money Laundering (AML), data protection, and other insurance-related obligations.
• Ensure compliance with specific regulations set forth by the Central Bank of Jordan (CBJ) and the Jordan Securities Commission, maintaining up-to-date knowledge of all relevant regulatory frameworks.
• Monitor and assess changes in legislation and regulatory guidelines from relevant authorities, ensuring that the company’s policies and procedures are regularly updated and compliant with CBJ and Jordan Securities Commission requirements.
• Collaborate with internal units and stakeholders to implement necessary process enhancements and training programs to maintain compliance with evolving regulatory expectations.

• AML Program Implementation:
• Assist in developing, implementing, and maintaining the AML compliance program, ensuring alignment with best practices and CBJ regulations.
• Create and maintain risk assessment frameworks, policies, and procedures that are comprehensive and compliant with the regulatory environment, focusing on the specific needs of the insurance sector.
• Risk-Based Assessment for AML:
• Conduct thorough AML risk assessments for new and existing products, services, and client relationships, identifying and mitigating potential risks by CBJ regulations.
• Develop risk profiling methodologies for customers based on factors such as geographic location, business type, transaction patterns, and potential exposure to money laundering activities.
• Regularly review and update risk assessment processes to reflect changes in regulatory requirements, emerging risks, and the company’s operational landscape.
• Training and Awareness:
• Design and deliver comprehensive training programs related to compliance and AML for employees at all levels, ensuring a strong culture of compliance and ethical behavior.
• Create and distribute educational materials to enhance company-wide awareness of compliance and AML requirements.
• Monitoring, Reporting, and Investigations:
• Monitor adherence to AML and compliance policies and perform regular compliance audits to identify areas for improvement.
• Prepare detailed compliance reports, highlighting findings, trends, and recommendations for corrective actions.
• Conduct investigations into potential compliance breaches or suspicious activities, ensuring thorough documentation and appropriate reporting to regulatory bodies.

• Collaboration and Liaison:
• Act as a key point of contact for regulators, auditors, and internal stakeholders regarding compliance and AML matters.
• Collaborate with various departments, including Legal, Risk Management, and Operations, to ensure alignment of compliance and risk strategies.

Qualifications:

• Bachelor’s degree in Finance, Law, Business Administration, or a related field; advanced degree or professional certifications (e.g., ACAMS, CAMS) are preferred.
• A minimum of 5-7 years of experience in compliance and AML roles, specifically within the insurance or financial services sector.
• In-depth knowledge of AML regulations, compliance frameworks, and best practices in the insurance industry.
• Strong analytical and problem-solving skills, with a strong attention to detail and the ability to handle complex compliance issues effectively.
• Excellent written and verbal communication skills, with the ability to convey compliance concepts clearly to stakeholders at all levels.
• Proficiency in compliance management systems and Microsoft Office.

Why to join Jerusalem Insurance Company:

At JICO, we are dedicated to fostering a diverse and inclusive workforce, seeking out the most capable and talented individuals, regardless of race, gender, age, disability, religion, or ethnic background. We celebrate the power of diversity and actively empower our teams to contribute their unique ideas, perspectives, and experiences to enrich our collective success.

How to apply?

Interested candidates, please send your resume and cover letter to [Click to show email] .

Please include “Compliance & AML Senior Officer Application” in the subject line.

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