We have an outstanding opportunity for you to join our team, and be part of a diverse and inclusive team based in Luxembourg, and to work in an international and informal environment. Note that this AML/KYC Analyst role is for a 12 month determined period contract (maternity leave replacement) and is embedded within the business. The role will report to the SWE Compliance Officer.

Accountabilities will include

As AML/KYC Analyst, you will:

• Support the compliance team with the manual review of individual customer files and the update of KYC documentation.
• Perform due diligence on customers and intermediaries: analyse the documentation on file, list missing documentation or documentation to be refreshed, coordinate actions required to obtain missing documents or updated information and analyse documentation received from customers or intermediaries and ensure it meets expectations and internal procedures.
• Perform required screenings and escalate the hits where necessary (PEPs and sanctioned parties).
• Ensure that the AML status/scoring is properly reflected in the administration system and relevant scoring tool.
• Participate in periodical audits, compliance and risk sample checks.
• Liaise with internal/external interlocutors, partners and suppliers in order to obtain/provide information, resolve operational problems, referring as appropriate.
• Provide the compliance team with support in their activities by supporting projects, day-to-day activities and conducting relevant background research.

About you

• First experience working in a similar role and knowledge of Luxembourg AML/CTF and financial sanctions legal framework and regulations.
• Good organizational and excellent communication skills,
• Proficient in English, and good knowledge in German.
• At ease with standard MS Office (Word, Excel, PowerPoint, Outlook etc.) and Adobe tools, willingness to learn and use more specific IT tools (including built-in software),
• Open minded, able to demonstrate key behavioural capabilities including teamwork, ownership, agility, proactivity and innovation,
• Keen to suggest new ideas and implement pragmatic and workable solutions.

We're dedicated to giving you opportunities and support to develop you both expertly and personally as well as to optimise and increase your potential.

In return, you would get a package that includes:

• A discretionary performance related bonus.
• Cash allowance to reflect lunch vouchers and private medical contributions
• Pension scheme
• Annual and special leave according to the collective labour agreement of the insurance sector.

About Scottish Widows Europe

Scottish Widows Europe (“SWE”), a subsidiary of Scottish Widows L.P., was established in Luxembourg to ensure continuity of servicing for its existing EU business after the UK’s exit from the EU, and is authorized to conduct life insurance business in Europe.

The portfolio of SWE is largely represented by with-profit policies (but also includes unit-linked policies), originally sold through the Clerical Medical Brand. The portfolio has c.€2 billion assets, with approximately 50,000 policyholders. Since March 2019, the business has been run from Luxembourg. SWE relies on outsourcers to provide policyholder service and administration.

SWE is part of Scottish Widows, a 100% subsidiary of Lloyds Banking Group (“LBG”) and a strong life and pension company in the UK. Its product range includes life assurance, pensions, investments and savings. The company has been providing financial services to the UK market since 1815. The company sells products through independent financial advisers, direct to customers and through LBG bank branches. Scottish Widows employs around 3,000 people.

LBG is a leading UK based financial services group providing a wide range of banking and financial services, passionate about personal and commercial customers. The main business activities are retail, commercial and corporate banking, general insurance, and life, pensions and investment provision. Services are offered through well-recognized brands including Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows, and a range of distribution channels.