SUMMARY:
We are looking for an AML Operations Specialist to join our team. This team is responsible for both SA and offshore (UK/Channel Islands) CDD and AML controls. As an AML Operations Specialist within the group’s shared services AML Operations team, you are responsible for the first line of defence relating to the day-to-day compliance with applicable AML/CFT/CFP regulations as well as the Group’s RMCP. We are seeking an experienced and passionate AML Professional to join our team. The successful candidate will possess a comprehensive understanding of the AML legal framework in South Africa, including ultimate beneficial ownership assessments (PCC59), and will have knowledge of FATF recommendations. You will assist in ensuring that the AML/CFT/CFP policies, processes and controls relating to risk management, customer due diligence and risk assessment (including ongoing due diligence), investigation and recordkeeping are implemented and adhered to, through your specialist knowledge and more specifically through your deep understanding of legal entity onboarding and enhanced customer due diligence measures.
POSITION INFO:
Key responsibilities
- Perform enhanced client due diligence (ECDD) for all high-risk clients by ensuring that the client is compliant and conducting a thorough assessment of the ML/TF/PF risk associated with the client and prepare high quality ECDD reports with a suitable recommendation to management on whether to establish or continue a relationship or conclude a single transaction.
- Provide a specialist function to Accountable Institutions in respect of natural persons and legal entity onboarding, which includes the identification of UBOs (PCC59) and other relevant related parties in respect of South Africa and Guernsey products.
- Perform customer due diligence and risk assessment when onboarding a client (legal entities and natural persons) as well as throughout the life cycle of the client relationship (ongoing due diligence), in accordance with the RMCP, in respect of South Africa and Guernsey products (natural persons only).
- Perform sanctions, PEP and adverse media screening on all client and its related parties and take the appropriate action on positive matches and escalate in accordance with the requirements of the RMCP.
- Ensure that all clients and linked parties are registered for ongoing screening and manage daily alerts generated by the World Check system (or any other applicable system) in respect of sanctions, PEP and adverse media and take the appropriate action on positive matches and escalate in accordance with the requirements of the RMCP.
- Perform ID and address verification on clients and linked parties.
- Perform FATCA/CRS checks to ensure accuracy and completeness of data and correct classification of clients.
- Perform transaction analysis to identify suspicious or unusual transactions.
- Apply and adhere to the risk management and compliance program (RMCP) requirements.
- Maintain excellent knowledge of sanctions regimes, including but not limited to UNSC, EU, UK, OFAC, and TFS.
- Provide guidance to business stakeholders regarding RMCP requirements to ensure that clients are compliant at onboarding and throughout the client lifecycle.
- Apply risk assessment techniques to effectively identify and mitigate AML risks.
- Stay current on regulatory changes and best practices in AML compliance.
- Collaborate with internal teams to develop and implement AML policies and procedures.
- Participate in any remediation projects, to resolve any issues identified by the Head of AML Operations and/or through regulatory inspections and/or external reviews and/or legislative changes.
- Collaborate with internal clients to address queries.
- Ensure that agreed SLAs are met and raise any risks timeously with the Head of AML Operations.
Key relationships
- FICA/AML Compliance, Advisors, Business Unit Leaders (BULs), BU Team Leaders, BU Managers.
Qualifications and experience
- Legal or commercial degree required.
- AML compliance certificate / ACAMS preferred
- 1 to 2 years’ experience in performing enhanced customer due diligence and report preparation
- 2 – 3 years’ customer onboarding and ongoing due diligence
experience
- In-depth knowledge of the AML legal framework in South Africa (FIC Act and related PCC’s, guidance notes, and directives), including ultimate beneficial ownership assessments in accordance with PCC59.
- A good understanding of FATF recommendations and international AML standards.
- A good understanding of Guernsey AML requirements is preferable
Skills
- Exceptional report-writing skills with the ability to communicate complex information clearly.
- Strong analytical and critical thinking abilities.
- Attention to detail
- Ability to identify ML/TF/PF risks and propose mitigating actions
- Proficiency in data analysis and presentation of findings.
Systems competency
Experience with:
- BPM onboarding systems
- Screening software
- Transaction monitoring algorithms
- MS Office suite
- Excel
- Word
- PowerPoint
Please call us on for more information.
NB: Should you not hear from us in 6weeks please consider your application unsuccessful.
