Anti-money Laundering Regulatory Specialist

2 weeks ago

Parktown North, Gauteng, South Africa Hollard Recruitment Full time

Job Advert Summary:

Key Responsibilities

STR/ CTR/ Section 27 & Other Reports

  • Attend to FICA adhoc issues,i.e., KYC queries, reporting of cash transactions above threshold, suspicious transactions, section 27 requests and any other reports.
  • Keep abreast of all AML/CTF/PF/FAT developments and ensure same is communicated to business where relevant.
  • Monitor & perform monitoring and oversight in line with the Cash Transaction Report (CTR) per the Standard Operating Procedure.
  • Escalate with immediate effect any noncompliance in relation to failures by the Hollard Life Solutions to comply with CTRs, STRs and other reports as required by
  • Perform periodic reviews to ensure that all that CTR, STR and section 27 responses are accurate.

AML/CFT; Sanctions Compliance and Monitoring

  • Undertaking /performing comprehensive Anti-Money Laundering Monitoring within Hollard Life Solutions incorporating both the local requirements as well International Best Practices (FATF Recommendations, FCA Guidance Notes, Wolfs berg Principles, etc.).
  • To perform AML functions on anongoing basis, including detection / reporting of suspicious transactions and activities
  • Conduct reviews for the enhancement of the AML functions and perform AML risk assessment when required.
  • To assist in the development and promotion of riskbased tools/monitoring systems and maintenance of the AML related database.
  • Review and update Standard Operating Procedures, policies and guidelines from an AML perspective.
  • Developing, maintaining and embedding enhanced AML/CTF & Sanctions policies and standards across the Hollard Life Solutions.
  • Address queries from business units relating to the Internal Rules, KYC, STRs, CTRs
  • Report and escalate all AML compliance risks and issues arising from interaction with Divisions.
  • Respond promptly to information requests from relevant stakeholders.
  • Discuss emerging or current AML/CFT & Sanctions issues with the Head of AML and escalate or resolve these issues where possible.

Advisory, Awareness and Enhanced Due Diligence

  • Provide expert advice on various AML/CFT & Sanctions issues affecting designated divisions as a result of compliance obligations.
  • Provide advice and guidance on AML/CTF & Sanctions related matters to the business.
  • Creating awareness of legislative requirements and TCF and ensuring that staff are aware of and competent in all aspects of compliance, inter alia through conducting presentations.
  • Drafting communication and advice for internal use.
  • Assist with the development of training materials for induction/awareness programs, annual and adhoc training to ensure that the Group implements internal rules and complies with AML/CFT and related requirements.
  • Providing advice to line management on AML, KYC and Due Diligence.
  • Conducts ongoing review of High Risks Customers including accounts opened by Politically Exposed Persons.
  • Interpret reports (CDD, PEP, Sanctions) and review accounts to ensure Compliance with AML
  • Ensure Enhanced Due Diligence, PEP reviews and sanctions checks are completed within appropriate time scales using external databases or any other methods used by the company.
  • Resolve Enhanced Due Diligence issues and prepare accurate and timely
  • Identify and report suspicious transactions to the management team arising in the review of Customer EDD, PEP and Sanctions Reviews.

Complete projects and tasks allocated.

  • Make sure that projects and tasks are prioritised in recognition of the compliance risk that the divisions and the Group may be exposed to.
  • Assist with coordinating and facilitating on site regulatory visits whenever requested. Prepare Information on relevant regulatory interaction as requested.

Prevention:

  • Financial Crime Risk awareness and training.
  • Marketing and communications required for the FCRM function.
  • Financial Crime vulnerability assessments, Combined Assurance Reviews and Financial Crime Risk Assessments.

Detection:

Data Analysis support.

Investigations:

To provide and end-to-end investigations of financial crime related incidents.

Required Knowledge and Experience:

  • Five (5) years antimoney laundering experience, preferably in the insurance industry
  • Analytical skills
  • Reporting skills
  • Data Management skills
  • Facilitation skills
  • Financial skills
  • Knowledge of the legal and regulatory framework and the regulatory environment
  • Presentation skills
  • Report Writing
  • Risk Management skills

Educational Requirements:

  • Legal / Business/IT/Risk Management/Forensics/Audit Degree and/or equivalent tertiary qualification, relevant for this position

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