The overall purpose of the Anti-Money Laundering Compliance Officer is to be accountable to the Financial Intelligence Centre, Prudential Authority and Financial Sector Conduct Authority for overall Anti-Money Laundering and Combatting Terrorist and Proliferation Financing compliance.
Requirements
- BCom Degree (General, Legal or Compliance) or LLB
- Any compliance related certificates
- At least 2-4 yrs experience in a financial crime/compliance experience
- Practical experience in the financial services industry in either a legal or compliance role(s)
- Solid knowledge and understanding of Long-term Insurance Act, Short-term Insurance Act, Financial Intelligence Act, Insurance Act, FAIS Act and POPI Act
- Build and maintain relationships with internal stakeholders (i.e. the divisions 1st line as well as 2nd line divisional functions such as risk, legal and 3rd line being audit) by establishing effective partnerships to identify and manage compliance risks
- Manage relations with Regulators (FSCA, PA & FIC)
- Analysis, interpretation and impact assessment of new legislation
- Develop and maintain RMCP and ensure adherence
- Develop internal policies relating to AML/CFT and oversee their implementation in all operating systems
- Ensure all staff are trained on AML/CFT policies and procedures
- Ensure adherence to the AML/CFT management framework in identifying, controlling, monitoring and reporting suspicious and unusual transactions
- Submit STR and CTR reports to the FIC
- Report on the outcome of AML/CFT risk assessments and ensure that any remedial action is taken
- Ensure sanctions and PEP screening processes are adequately deployed
- Be a point of reference on AML/CFT queries, including Due Diligence packs from proposed partners
- Monitor money laundering prevention guidelines and review all relevant reports
- Facilitate inspections by internal/external auditors and Regulators
- Prepare for inspections by the Regulator and Supervisor
- Execute on the agreed annual Compliance Coverage Plan for the division within set timelines
- Identify, investigate and resolve non-compliant activities
- Ability to conduct end-to-end compliance monitoring activities
- Assisting the client servicing staff in engaging and following up with clients on any outstanding documentation
- Tracking and following up on implementation of agreed actions, relating to compliance review findings
- Prepare reports for submission to management for the various operations and governance forums of the business
- Relevant regulatory knowledge - e.g. FAIS, POPIA, NCA, LTIA, STIA, COFI, FICA (AML)
