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| Designation: | GFICOFC003 – Compliance Officer: Anti-Financial Crime |
| Category: | Professionals |
| Posted by: | African Bank |
| Posted on: | 12 Dec 2023 |
| Reference Number: | GFICOFC003 |
| Closing date: | 29 Dec 2023 |
| Position Type: | Permanent |
| Location: | Midrand |
| Workplace: | Group Financial Crime (GFIC) |
| Overview: | |
| AML/CFT Compliance Monitoring Ensure compliance risks are managed by developing an annual risk- based compliance monitoring programmed across client facing business to ensure delivery of the monitoring programmed within time, budget and risk. Provide advice to stakeholders on AML/CFT compliance risks by giving input to business compliance risk monitoring plans and responding to queries from stakeholders to ensure that compliance risks managed. Engage with stakeholders formally to determine scope of work and to identify needs, in order to develop risk-based compliance monitoring programmed. Track key compliance risks in client facing business by conducting monthly reviews to ensure compliance requirements are adhered to and adequate compliance risk management practices implemented to prevent penalties. Present findings of compliance reviews to stakeholders through formal engagement to allow for mitigating actions to be included in final compliance report to senior management and governance committees. Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of client facing businesses by highlighting benefits in support of the implementation of recommendations. Identify opportunities to influence the improvement or enhancement of business processes and methodologies by researching and recommending improvement initiatives and effective ways to operate and add value Monitor compliance risks and determine the state of compliance in client facing clusters through utilizing relevant methodology, to ensure compliance risks are managed. Maintain relationships with stakeholders by keeping them informed of any compliance risk related matters that may compromise their business to ensure they are addressed timeously.AML/CFT Regulatory Advisory Providing advice to Line Management on AML, KYC and Due Diligence. Manage the CDD and KYC Framework, in accordance with AML Policy Requirements and Regulatory mandates as well as best industry practices Provide deep subject matter expertise guidance to front line stakeholders ensuring team service level standards are met Assess new client onboarding gaps and implement process enhancements to improve client onboarding experience Periodically test account refresh process conducted by KYC/Onboarding team to ensure regulatory/document requirements are met Communicate AML and Sanctions compliance requirements with business lines and test implementation Set business requirements, participate in tuning and validation of KYC and Sanctions monitoring systems Ensuring a consistent enhanced due diligence (EDD) review and approval on all new and existing high risk accounts Providing guidance and responding to queries from various internal business stakeholders Facilitating the review of the overall AML Compliance program including risk analysis, periodic high risk account reviews, quality assurance reviews, and provide data on key performance indicators Creating awareness of legislative requirements and ensuring that staff are aware of and competent in all aspects of Compliance, inter alia through; Conducting presentations, Issuing compliance alerts, Publishing documentation on the intranet & Drafting communication and advice for internal useCompliance Oversight Draft and maintain AML/CFT compliance policies and manuals for approval by the Board as requested by the Group Compliance Officer Ensure that standard AML/CFT policy and process documents are in place in the various business units and that these are regularly reviewed and updated including aligned to the Treating customers Fairly and Ethics regimes Advise Training Department of required training interventions in respect of new or amended laws and regulations, prepare training material as required and monitor educational outcomes Prepare information for senior management for presentation at various levels within the organization including to the Board, Executive and Divisional Management on developments in the regulatory environment Act as the focal point for the oversight of all activities relating to the prevention and detection of AML/Sanctions/CTF in the front-end business areas. Providing support / guidance to the senior management to ensure that AML/Sanctions /CTF risks are adequately identified, understood and managed, in particular to communicate key AML/Sanctions /CTF issues including significant compliance deficiencies. Ensure AML/Sanctions /CTF staff training is adequate, appropriate and effective.AML/CFT Quality Assurance Design and implement a risk based approach Anti-Money Laundering & Counter Financing Terrorism (AML/CFT) quality assurance. Identify areas of risk and make recommendations on operational improvements, processes for compliance, quality assurance and any additional training essential to mitigate risk. Proactively seek ways to assist the Bank in strengthening AML/CFT controls, to remain compliant and improve efficiency. Analyze work flows, data, systems and processes to detect gaps and weaknesses and recommend suitable controls. Prepare and submit periodic findings and recommendations reports to senior manager financial crime. Engage stakeholders to discuss and agree on the findings and recommend controls. Liaising with departmental heads on various AML/CFT compliance matters as they become necessary. Assist the senior manager with AML/CFT risk assessments. Identify weaknesses in the control environment and assist in implementing changes. Assist business units with digitization of AML/CFT controls to improve efficiencies and client experienceRisk Management, Compliance reports and Ad-hoc Projects Assist business units with risk assessments and risk control evaluations, applying current and detailed AML knowledge and business acumen regarding the Bank’s products, operations and policies. 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. Quality Assurance on all AML Reports Draft Risk Based Approach methodologies / proposals / papers for the Regulatory Risk Forum Draft and finalize AML Templates such as EDD’s, AML CFT and Sanctions Questionnaires for business areas and clients Review the completed EDD’s and Questionnaires Co-ordinate AML information requests into the bank Compile monthly reports and distribute to role players AML/CFT Assist senior manager with all urgent AML/CFT projects Accurately complete the AML/CFT correspondent banking questionnaire in conjunction with relevant internal stakeholders. Manage AML projects that are the most complex in nature, requiring collaboration across multiple business stakeholders, which address AML/CFT issues of significant complexity.Customer Create and maintain productive relationships with internal and external clients by providing advice and assistance. Create understanding of the ‘real’ versus ‘perceived’ need through, experience and expertise while complying with company policies, legislation and regulations. Keep the client informed about progress through written communication, telephone communications and/or face to face meetings Build a positive image by exceeding client expectations at all times Treat internal and external customers fairly at all times | |
| Nature 1: | |
| To monitor and provide oversight on the adherence to AML/CFT compliance practices in client facing business areas to ensure compliance risks are managed and reported across African Bank | |
| Nature 3: | |
| Motivation: |
KEY PERFORMANCE AREAS
| Behavioural (COMP) Adapting & Responding to changeAdhering to Principles & ValuesAnalytical and structural thinkerAssertivenessCoping with pressures & setbacksDeciding & Initiating ActionLeading and supervisingPlanning and Organising |
| Minimum Education LLB |
| Minimum Experience 7-10 years Compliance experience within a Banking or Insurance environment |
| Technical (COMP) Analytical SkillsAttention to detailCommunication skillsEmotional IntelligenceInfluencing skillsPeople managementPersuasive skills |
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