Manager: AML / CFT (Onsite)

SUMMARY:
The main purpose of this position is to assist the department in discharging its supervisory duties, as defined in the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act), in respect of banks and life insurers.

POSITION INFO:
JOB DESCRIPTION

• Lead and manage the AML/CFT team responsible for conducting high-quality inspections and on-site supervision pertaining to banks’ compliance with the provisions of the FIC Act with regard to AML/CFT and CPF, and undertake reviews to assess compliance with AML/CFT requirements and standards.
• Assist with the development and maintenance of worksheets and process manuals for conducting inspections and on-site reviews.
• Attend to a programme of inspections, reviews and other interactions with banks and life insurers to be undertaken per year in terms of the department’s supervisory calendar.
• Perform the duties relating to the administrative arrangements for each inspection and on-site review.
• Maintain a project plan to be followed for individual inspections and on-site reviews.
• Execute inspections and on-site reviews at the premises of individual banks and life insurers.
• Conclude inspections and on-site reviews at banks and life insurers by producing inspection and on-site review findings reports and closing letters to the management of banks and life insurers, with appropriate recommendations to address the identified weaknesses.
• Ensure that on-site inspections are risk-based and effective.
• Provide management information in respect of the progress of inspections and on-site reviews.
• Manage the performance of the AML/CFT team.

• A postgraduate qualification in Finance, Law, Business Management or any other relevant qualification;
• A minimum of eight years of AML/CFT compliance-related working experience in the financial services sector, a supervisory body or a regulatory environment; and
• A minimum of two years of experience of managing teams.

• A strong understanding of the provisions of the FIC Act;
• An understanding of PA supervision, regulation and legislation;
• Working knowledge of AML/CFT systems, products and risk management practices within the financial services sector;
• Knowledge of the financial services sector and key developments in banking, insurance and collective investment schemes, both domestically and abroad; and
• Report-writing skills.