Job Summary The Manager – Financial Crime will be responsible for supporting and strengthening the organization’s financial crime risk management framework across the life insurance business. The role will focus on identifying, assessing, preventing, detecting, investigating and mitigating risks relating to AML, CFT, KYC, sanctions, fraud and other financial crime risks The role will work closely with Compliance, Operations, Underwriting, Claims, Distribution, Customer Service, Legal, Internal Audit and other business functions to ensure effective implementation of financial crime controls and regulatory requirements.

Key Responsibilities

1. AML & Financial Crime Risk Management

- Support implementation and continuous enhancement of the Financial Crime Compliance framework.
- Conduct financial crime risk assessments covering products, customers, channels, geographies and distribution partners.
- Identify emerging financial crime risks and recommend appropriate mitigating controls.
- Monitor compliance with applicable AML/CFT and financial crime regulations and internal policies.

2. KYC & Customer Due Diligence

- Oversee KYC, Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) requirements.
- Review higher-risk customers, PEPs, high-risk jurisdictions and complex ownership structures.
- Ensure appropriate customer risk classification and periodic review.
- Identify gaps in onboarding and customer due diligence processes and drive remediation.

3. Transaction Monitoring & Suspicious Activity

- Oversee transaction monitoring and financial crime surveillance relevant to life insurance activities.
- Review alerts and unusual customer transactions, including premium payments, refunds, surrender proceeds, policy loans and other relevant transactions.




- Support investigation and escalation of suspicious transactions.
- Ensure timely regulatory reporting of suspicious transactions in accordance with applicable requirements.

- Sanctions & Screening

- Manage or oversee sanctions, PEP and adverse media screening processes.
- Investigate potential sanctions and screening matches and ensure appropriate escalation.
- Monitor changes in applicable sanctions requirements and support implementation of necessary controls.

- Fraud Risk Management

- Support identification and investigation of suspected fraud involving policyholders, intermediaries, employees and other stakeholders.
- Work with Fraud, Claims, Operations and other relevant teams to strengthen fraud prevention and detection controls.
- Analyze fraud trends and recommend preventive measures.

- Life Insurance–Specific Financial Crime Risks

- Assess risks associated with policy issuance, premium payments, claims, surrender, maturity, policy loans and refunds.
- Monitor risks arising through agents, brokers, bancassurance partners and other distribution channels.
- Identify potential misuse of insurance products for money laundering, fraud, sanctions evasion or other financial crime.
- Review unusual premium funding, third-party payments, early surrender and other high-risk activities.

- Investigations & Case Management





- Conduct or support investigations into suspected financial crime and compliance breaches.
- Document investigation findings, rationale, evidence and recommended actions.
- Escalate material cases to senior management and relevant governance forums.
- Maintain appropriate records and audit trails.

8.Governance, Reporting & MI

- Prepare periodic financial crime risk reports, dashboards and management information.
- Support Financial Crime / AML governance committees and management reviews.
- Track remediation of control gaps and audit findings.
- Maintain financial crime policies, procedures, standards and operating guidelines.

- Training & Awareness

- Develop and deliver financial crime awareness and AML/KYC training for employees and relevant stakeholders.
- Promote a strong financial crime risk culture across the organization.
- Provide guidance to business teams on financial crime requirements and risk mitigation.

- Regulatory & Audit Support

- Monitor regulatory developments relating to AML, CFT, KYC, sanctions and financial crime.
- Support regulatory inspections, internal audits and external reviews.
- Coordinate responses to regulatory and audit observations and track remediation.

Qualifications

- Graduate/Postgraduate degree in Finance, Law, Risk Management, Compliance, Business Administration or a related discipline.
- Professional certification such as CAMS, CFE, ICA AML or equivalent is preferred.

Experience

- 5–8 years of relevant experience in Financial Crime, AML, Compliance, Fraud, KYC or Risk Management.
- Valuable understanding of AML/KYC, sanctions, transaction monitoring, customer risk assessment and financial crime investigations.
- Experience managing stakeholders and working with business and operational teams.

📌 Manager - Financial Crime (Gurugram)
🏢 Aviva India
📍 Gurugram