Specialist: Transaction Monitoring Investigator

2 weeks ago

Johannesburg, Gauteng, South Africa Absa Bank Limited Full time
Bring your possibility to life Define your career with us

  • With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary

To take responsibility and to perform investigations to substantiate any money laundering concerns.

To conduct transaction monitoring investigation coupled with any relevant AML investigation and report any suspicious transaction(s) to the regulator within the specified time.


Job Description:

Key Accountabilities

Operational Support and Coordination

  • Manage and perform detailed investigations relating to Anti Money Laundering from various sources
  • Obtain all relevant evidence related to an investigation. Scrutinise / analyse this evidences and make meaningful observations / conclusions regarding the findings
  • Assess all findings in order to establish trends and escalate all issues of a significant nature to the appropriate stakeholders on a timely basis (as and when these occur) and through various meetings and reports (content presentation, accuracy, quality and completeness are important)
  • Ensure that each investigation is of high quality, accurate, value adding conclusion, for the type of investigation being conducted
  • Collate appropriate, accurate and reliable MI to effectively manage compliance risks
  • Evaluate and challenge information received from the local and in country teams with the objective of achieving continuous improvement in compliance
  • Take meaningful recommendations for the various types of investigations. This will include, but is not limited to system / people / process failures
  • Inform management of any suggestions or proposals to enhance investigative methodologies
  • Inform management immediately of any new trends which have been identified during investigations for further escalation to stakeholders
Reporting and Governance

  • Action all requests received in respect of Sections 27, 29, 32, 34 and 35 of the Financial Intelligence Centre (FIC) Act
  • Analyse alerts in order to determine whether a suspicious and unusual transaction report should be submitted to the FIC in terms of the Financial Intelligence Centre Act.
  • Report and escalate all AML compliance risks and issues arising from businesses promptly and appropriately in accordance with Group and local legal and regulatory requirements
  • Inform management regarding AML compliance matters which may pose financial or reputational risks for the business
  • Respond promptly to information requests from the Regional MLRO, Country MLRO's and Financial Crime Units
  • Provide appropriate information to management on a daily, weekly and monthly basis by collating appropriate, accurate and reliable MI to effectively manage compliance risks
Stakeholder Management

  • Support the Regional AML Manager by ensuring the effective coordination of information on a continuous basis
  • Build and maintain meaningful relationships with incountry Financial Crime teams (for example MLRO's and HOC) with the aim of understanding their needs
  • Implement established escalation processes for significant issues and concerns raised so as to manage the culture of "no surprises"
  • Maintain professionalism in all verbal and written communication with stakeholders. The professionalism requirement also extends to personal appearance as well as adherence to acceptable business ethics
  • Discuss emerging or current issues with local and incountry teams and escalate or resolve these issues where possible
Education

Bachelor's Degrees and Advanced Diplomas:
Money Laundering Control (required)

Education

Bachelor's Degrees and Advanced Diplomas:
Law, Military Science and Security (required)

  • Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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