Reference Number MMH250331-2
Job Title AML Reporting Officer
Position Type Permanent
Role Family Legal and Compliance
Cluster Risk Management
Remote Opportunity Some of the time
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
Introduction
Are you passionate about financial crime prevention and ensuring regulatory compliance? We are looking for a detail-oriented AML Reporting Officer to join our dynamic Compliance team. In this role, you will play a critical part in safeguarding our organization against money laundering, terrorist financing, and financial crime risks. You will collaborate with internal stakeholders, regulators, and third-party providers to maintain compliance, strengthen our risk management framework, and drive best practices.
If you have expertise in AML regulations, transaction monitoring, and risk assessment, and are looking for a role that offers strategic impact and professional growththis is for you!
Disclaimer As an applicant, please verify the legitimacy of this job advert on our company career page.
Role Purpose
To ensure that systems and controls relating to anti-money laundering (AML) and countering the risk of terrorist financing (CTF) are appropriate and effective to ensure compliance groupwide
Requirements
MINIMUM QUALIFICATIONS
- Degree/Diploma in Risk Management, Law, Finance, Business, or a related field.
- Relevant Certifications in Anti-Money Laundering (AML), such as CAMS (Certified Anti-Money Laundering Specialist) or other equivalent AML practitioner certifications.
- At least 5 years of experience in AML compliance, financial crime risk management, or a related field, with hands-on involvement in implementing AML/CTF controls, transaction monitoring, and KYC/CDD processes.
- Deep understanding of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, as well as Know Your Customer (KYC) and Customer Due Diligence (CDD) procedures.
- Familiarity with risk assessment methods and transaction monitoring systems.
- Strong knowledge of AML laws, relevant legislation, and industry best practices.
- Experience in conducting investigations of suspicious transactions and preparing reports for regulatory bodies like the Financial Intelligence Centre (FIC).
- Ability to provide strategic insights on high-risk clients, regulatory changes, and best practices for AML compliance.
INTERNAL PROCESS
- Ensure all relevant Accountable Institutions (AIs) are registered and maintain updated registers of relevant information
- Submit bi-annual Life Insurance Risk Assessments to the Prudential Authority
- Review and vet third-party service providers for Customer Due Diligence (CDD) and Targeted Financial Sanctions (TFS) screening
- Support the Group AML Compliance Officer
- Ensure timely submission of all relevant reports to the Financial Intelligence Centre (FIC)
- Investigate suspicious money laundering alerts or transactions and report to the FIC
- Conduct thorough investigations into potential fraudulent or money laundering transactions
- Provide guidance on identifying high-risk clients and prepare reports for legal proceedings
- Assist with developing and maintaining a Group Risk Management and Compliance Programme (RMCP)
- Ensure each AI has processes for identifying and monitoring suspicious transactions
- Assist AIs in identifying AML weaknesses or gaps within business processes
- Act as a subject matter expert to employees, risk managers, and CDD Teams
- Aid in preparing and implementing regulatory changes
- Support AIs in identifying training needs and compiling training material
- Identify and review employees during the implementation of TFS screening as per Directive 8
- Distribute, gather, compile, and submit group comments on FIC communications (industry consultation feedback
- Create and update a Court Order register for proactive reporting.
- Stay current with money laundering, Terrorist Financing, and Proliferation Financing trends
- Attend regulator webinars, meetings, and information sessions.
- Contribute to the design and maintenance of internal AML compliance manuals, policies, procedures, and systems.
- Conduct due diligence and evaluations on third-party AML compliance service providers
- Coordinate periodic internal reviews of AML compliance at branch offices or foreign establishments
- Guide business in identifying and analysing all Money Laundering, Sanctions, Terror Financing, Bribery and Corruption
- Facilitate Anti-Money Laundering (AML) & Counter Financing of Terrorism (CFT), Sanctions, Anti-Bribery and Corruption (ABC) and Prevention of Facilitation of Tax Evasion (PFTE) risk
- Steer business initiatives through identification of Financial Crime Compliance deficiencies and guide business in determining appropriate remedial action plans
- Provide input and support to the Head of Compliance, Legal and Market Conduct to ensure high quality reporting and assurance to the relevant Boards, Executive Management, Audit Committees, the Regulator and other relevant forums
- Build and maintain relationships with clients and internal and external stakeholders
- Deliver on service level agreements applicable to clients and internal and external stakeholders in order to ensure that client expectations are managed
- Make recommendations to improve client service and fair treatment of clients within area of responsibility
- Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service
- Continuously monitor turnaround times and quality standards and resolve issues speedily to enhance client service delivery
- Drive client service delivery goal achievement in line with predefined standards in order to ensure that clients receive appropriate advice and after sales service
- Manage client query processes and ensure that queries are tracked, accurately resolved and used as a mechanism to improve client service and business processes
- Contribute to creating a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity
- Contribute to and drive a culture that guides and directs best practice, fostering an environment of continuous learning, people growth and improvement and cohesiveness
- Effectively manage your performance within the team in order to ensure business objectives are achieved
- Be a role model for innovation, change agility and collaboration behaviours within the team
- Identify solutions to enhance cost effectiveness and increase operational efficiency
- Manage financial and other company resources under your control with due respect
- Manage high risk and problematic financial issues in area of accountability and contribute to the development of policy
- Risk Management & Mitigation
- Project Management
- Relationship Building
- Report Writing
- Stakeholder Management
- Business Acumen
