Compliance Specialist, Allianz

Allianz

Location:
United States, Minneapolis

Category:
Legal

Contract Type:
Not provided

Salary:

67000.00 - 134000.00 USD / Year

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Job Description:

At Allianz Life, we are guided by our mission – we secure your future – and by our common goal of caring for tomorrow. We care for our employees by promoting an inclusive culture where everyone has the opportunity to grow and be rewarded for their success. We care for our customers by creating new products that help them protect their families and pursue their retirement goals. We care for our community by giving time, resources, and donations. And we care for the future by supporting sustainability, protecting the local environment, and promoting social equity.

Job Responsibility:

Support the development of the programs and initiatives to comply with the respective regulatory and Group obligations pertaining to anti-money laundering and economic sanctions
Research and communicate requirements and provide recommendations, review regulatory bulletins and other sources of information and keep abreast of and assess AML emerging issues, trends, and evolving regulatory requirements
Improve and maintain applicable policies and procedures, and oversee Standard Operating Procedures related to AML both in the 1st line and 2nd line
Execute second line monitoring and testing for AML and Sanctions processes and controls
Ensure detailed and prompt investigation of AML incidents and cases, as well as review and document referrals to AML and report suspicious activity to the MLRO, including support on suspicious activity report preparation and filing
Work closely with direct counterparts as well as other business partners and stakeholders across the enterprise to support the Company's proactive AML efforts. Primary responsibilities include providing support for the AML Program and the AML Capability, designing new processes and controls, for the specific purpose of detecting, analyzing and preventing suspicious or fraudulent activity, within pertinent business units, channels and products
Review results, review and approve comprehensive findings and recommendations and present results to the MLRO
assist in the development and implementation of action plans
and monitor related follow-up actions
Review escalations from Business Partners, with primary focus on complex cases and high risk customers, including producer reviews as needed
Aid in the improvement of tools to monitor, analyze, and report suspicious activity, support finetuning and testing approach
Collaborate with business partners to develop, implement and continuously improve internal controls, analyze business processes and controls to identify and assess risk, controls, efficiency, and compliance opportunities
Coordinate and collaborate with multiple business and functional areas on the development of internal controls and compliance measures
Lead the successful completion of projects by creating key milestones, tasks, assigning drivers responsible for implementation, and by measuring results against established goals and industry benchmarks
Participate in and facilitate information sharing with the MLRO, business partners and peers in a timely and efficient manner to ensure efficient communication
Support management and oversight of the FCU Offshore Team
Support execution of AML & Sanctions annual risk assessment

Requirements:

Bachelor’s degree or equivalent work experience required
3-5 years of experience in AML
Knowledge of laws and regulations pertaining to: FinCEN, OFAC, Bank Secrecy Act, Patriot Act, International Guidelines, as well as schemes associated with financial crimes affecting the insurance industry
Demonstrate integrity and commitment to values
Excellent verbal and written communications skills, in particular, ability to communicate complex information to the Business
Ability to understand and solve complex problems in a fast paced, time sensitive environment
Excellent analytical, judgment, and research skills
Strong attention to detail and strong documentation skillsets, including ability to recognize efficiencies
Ability to juggle multiple tasks at a time
strong time management and prioritization skills
Displayed sense of ownership in relation to attitude and actions, assignments and event outcomes
Organizationally astute, ability to influence laterally
Strong networking skills within the Company as well as in the industry
Adaptable to change, flexible and open-minded
Knowledge of Allianz Life products preferred, not required
CAMS certification preferred
required within 24 months of hire
Ability to maintain relationships and reporting requirements with multiple lines of business
Team player
You must be legally authorized to work in the U.S. and will not require immigration sponsorship for visa status now or in the future (e.g. H1-B, L-1, TN, etc). If you are currently on CPT/OPT, you are ineligible due to the need for future immigration sponsorship

Nice to have:

Knowledge of Allianz Life products
CAMS certification

What we offer:

Inclusive culture where everyone has the opportunity to grow and be rewarded for their success
Giving time, resources, and donations to the community
Supporting sustainability, protecting the local environment, and promoting social equity

Additional Information:

Job Posted:
May 08, 2025

Employment Type:

Fulltime

Work Type:

Hybrid work

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Compliance Specialist