SUMMARY:
AML (Anti Money Laundering) Analyst (DURBAN)
POSITION INFO:
Job Purpose:
Money laundering Reporting Officer
The Money Laundering Reporting Officer (MLRO) is responsible for the effective and accurate investigation of incidents of suspicious activity or transactions for the purpose of financial crime including money laundering / terrorist financing and reporting of same together with other reportable instances in terms of the Financial Intelligence Centre. As the AML Analyst and a MLRO will be responsible for conducting comprehensive investigations on banking clients to detect activity indicative of money laundering or other financial crimes. Investigators utilize internal and external investigation technology and research techniques. Based on documented findings, you will draft a written narrative outlining in detail the results and as appropriate, escalate in accordance with documented procedures. You will manage complex investigations involving matters such as multiple relationship accounts, tiered and multi-faceted transactions; international wires involving high risk jurisdictions, and complex structuring schemes to identify potential money laundering or other financial crimes. You will work with the AML team to collate metrics and other data as requested.
Compliance Officer
Compliance Officer is responsible for ensuring that the Bank complies with its regulatory requirements as well as its internal policies and processes.
Specific Requirements:
- Qualifications: LLB /BCom
- Experience: 3+ years
- Professional Registrations: CISA
Job Specific Requirements
- Must have 3 – 5 years of experience in the Banking industry
- Demonstrate a good understanding of the Banking industry and banking operations
- Sound knowledge of AML legislative framework
- Strong investigative, analytical and data processing skills
- A good understanding of information technology and technical security
- Have basic legal understanding
- Have strong communications and interpersonal skills
- Must be detail orientated
- Have strong problem-solving abilities
- Must be decisive and have the ability to work under pressure and think critically.
- Must be able to draft reports, processes and policies
- Demonstrate an understanding of Risk, Governance, Compliance and privacy practices in the context of the Banking industry
- Must be computer literate
Key Performance Areas (KPA) - Money Laundering Reporting Officer
Duties and Responsibilities/ Tasks:
- Investigate and report to the FIC on any reportable transaction and/or activity in terms of Section 28, 28A, 29, and 31 of FICA
- Investigate and report to any law enforcement body instances of ML/TF within GBL
- Report and provide feedback on any request for information in terms of Section 27, 32, and 34
- Maintain records of reports submitted to FIC
- Keep abreast with trends and typologies for ML/TF
- Provide guidance on AML, legislative and related queries
- Provide recommendation for controls, processes, and policy with respect to the RMCP and Process Guide
- Cultivate and manage objective working relationships with a variety of stakeholders. Build and sustain collaborative working relationships with relevant peers and stakeholders in order to achieve productivity synergies.
- Comply with governance in terms of legislative and policy requirements.
- Ensures that emerging legislation and the changes in relevant regulations are appropriately interpreted for impact analysis, internal monitoring plans, working papers and practices are aligned accordingly tracked.
- Ensure meaningful, timely, concise & comprehensive reporting of monitoring findings and associated regulatory risks to MLCO.
- Performing audit testing and completing documentation of planning, testing and findings made in line with the Compliance methodology.
- Ongoing monitoring of business compliance to the control frameworks, reporting and escalation of incidents of non-compliance including follow up on implementation of agreed corrective measures. Able to design and implement end to end monitoring reviews including scoping, drafting of working papers, conducting fieldwork, management engagement and reporting.
- Supporting the evidencing and embedding of the Regulatory Risk Management controls into business processes and platforms.
- Facilitation of risk assessment and evaluation of the effectiveness of established controls
- Appropriate review of policies and minimum operating standards for relevance, appropriateness and effectiveness.
- Continuously assess own performance, seek timely and clear feedback and request training.
/ Other Regulatory areas:
- Assess the Bank’s compliance with assigned AML legislation.
- Liaising with the regulator regarding queries.
- Ensure adherence to compliance monitoring in respect of assigned legislative area
- Ensure timelines/deadlines met by or before due date
- Maintain findings of the monitoring and supporting evidence of findings.
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