Aml Operational Team Lead #wealthandinvestment

1 week ago

Cape Town, Western Cape, South Africa Recruiter Ruth | Performability Recruitment Full time

A leading hedge fund management firm is in need for a meticulous AML/ KYC Manager to join this ranks.
This key team member would be responsible for...

  • The build out of the groups shared services AML/KYC Operations team
  • The first line of defense for the daytoday compliance with applicable AML/CFT regulation and implementation of our written AML/CFT policies
  • Processes and rules of procedures relating to risk management
  • Customer due diligence and risk assessment
- investigation, record-keeping and internal controls

**Please note

  • You must have
    knowledge of financial services/products and a solid understanding of
    AML typologies in wealth and investment management.**A key deliverable will be optimising and streamlining the existing processes and ensuring regulatory outcomes are met.

KEY RESPONSIBILITIES OF THE AML OPERATIONS TEAM

  • Assess, conclude, and sign off on client due diligence, risk scoring and risk assessment.
  • Support onboarding for legal entities, determine UBOs, controlling persons, and conduct screenings.
  • Review ECDD information for highrisk clients, assess risks, and provide recommendation to management.
  • Conduct ongoing screenings, clear false positives or escalate as required.
- ensuring CDD, client risk assessment, and SOF information are in place before transaction processing.

  • Collaborate with internal clients, set SLAs, and address queries and escalations.
  • Develop, implement, and update controls to prevent money laundering and terrorist financing.
  • Analyse issues, identify root causes, and implement preventive measures.
  • Oversee transaction monitoring and ensure the team can identify suspicious transaction patterns, and ensure internal reports are submitted.
  • Provide updates to the compliance team and to risk management where emerging patterns are identified and where additional controls should be implemented and recorded in the RMCP.
  • Lead system improvements and operational projects. Continually assess and improve processes, and input into the systems roadmap, to ensure that AML/CTF/PF outcomes are met, as seamlessly as possible.
  • Lead remediation projects, to resolve any issues identified by compliance/inspections/external reviews.
  • Offshore compliant onboardings of SA individuals/entities.

5 KEY PERFORMANCE AREAS

  • People Management: Train and develop the team, set and monitor KPIs, and plan capacity.
  • Internal Client Management: Set SLAs, address queries and any escalations.
  • Operational &

Process Management:
Develop and implement processes, ensure SLA adherence, and resolve compliance or audit findings.

  • Risk Mitigation: Oversee the first line of defense for AML/CFT, assess risks and controls, develop and oversee transaction monitoring review.
  • Projects &

System Enhancements:
Identify system improvements and lead operational or remediation projects.

QUALIFICATIONS AND EXPERIENCE

  • Minimum of 5 years of experience in AML operations within the financial services industry.
  • Experience in team and people management is advantageous.
  • Degree in Law or Commerce.

SKILLS AND COMPETENCIES

  • Team leadership and management with experience in building and enhancing teams
  • Process design and optimisation.
  • Analytical thinking with strong judgment.
  • Ability to make complex riskbased decisions.
  • Proficiency in data analysis.

KNOWLEDGE

  • Comprehensive understanding of AML regulations in South Africa and FATF guidelines.
  • Familiarity with customer behaviours and business practices that may pose risks.
-
Knowledge of financial services/products
:

-
Understanding of AML typologies in wealth and investment management.

SYSTEMS COMPETENCY
Experience with BPM onboarding systems, screening software, transaction monitoring algorithms. SQL knowledge is a plus.

**This is an in office role with a high capacity and dynamic team.

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