Head: Transaction Screening

2 weeks ago

Johannesburg, South Africa Nedbank Full time

**Job Purpose**
- To take accountability for ensuring efficient and effective processing of client transactions whilst minimising operational risk. To drive the establishment and management of the Center of Excellence for Transaction screening/ AML.**Responsibilities**:

- Ensure the overall objectives for Transaction Screening/ AML sub-divisions are set and effectively managed
- Provide SME input into transactional screening methodologies, systems, and processes to ensure an effective screening process that will protect Nedbank and the payment system form illegal and unethical funds transfer that can result in both reputational and regulatory risks.
- Actively scrutinise transactions through the Transactional Verification Centre (TVC) including Trade based finance (TBF) documentary credit transactions and Identified high risk industries Inward Telegraphic Transfer (ITT) and Outward Telegraphic Transfer (OTT) to ensure they are in line with expectations, reviewed for red flags in terms of Money Laundering (ML) and Terrorist Financing (TF), reputational risk, sanctions, and financial crime indicators
- Scrutinise transactions in line with the requirements set by CIB AML or Group AML as is required at the time, i.e., jurisdictional restrictions, industry restrictions, etc.
- Provide escalation services to the TVC and other transaction monitoring teams in terms of TBF documentary credit transactions; Identified high risk industries ITT, OTT and TBF transactions and any other transactions in line with the requirements set by CIB AML or Group AML as is required at the time, i.e., jurisdictional restrictions, industry restrictions, etc.
- Provide SME advisory services on dual use goods, high risk industries, geographical risk, reputational risk, financial crime, etc.
- Drive seamless client experience through providing efficient and reliable services across the relevant value chain
- Provide reliable and correct SME advice on reputational, regulatory and financial crime risk queries
- Run a smooth approval and escalation process for high-risk industries and TBF
- Assist the client in preparing necessary documentation in order to assess the risks
- Build effective processes, systems and outcomes to ensure applicable risk is managed
- Manage the prioritisation of transactional analysis, providing decisions in line with mandates and escalation to the Transactional Reputational Risk Committee and management information to the relevant risk governance committees
- Drive digital agenda for to enable transactional due diligence digitisation for high-risk industries and TBF
- Steer the automation of transactional monitoring for TBF, including documentary credits and the open account high risk industry transactions
- Initiate and develop automated transactional monitoring ability for TBF open account payments
- Track and report financial and operational performance to relevant reporting structures
- Drive and design the layout of operational practices in support of business goals, policies, tax & accounting, striving for a reduction of turnaround time
- Manage performance against targets set for regulatory compliance, risk management/risk appetite, internal audit, market conduct and other business process obligations
- Manage team effectively and efficiently across the HR value chain including recruitment, performance management, retention of critical staff, succession planning and coaching and talent management
- Manage performance of direct reports and hold them accountable for managing the performance of their employees

**Essential Qualifications**

Business-related degree (Law or Finance an advantage)

**Preferred Qualifications**
- Relevant business-related post graduate degree**Minimum Experience Level**
- 10 years + experience in relevant business environment
- 10 years + in banking or financial services industry

**Technical/Professional Knowledge**
- Financial risk (AML/ Fraud)
- Operational and regulatory risk
- Risk Management Processes
- Leadership Skills
- Organisational Awareness
- Product Knowledge
- Policy & Procedural Knowledge
- Relevant regulatory knowledge
- Client Service Management
- Governance, Risk and Controls

**Behavioural Competencies**
- Cross-Functional Collaboration
- Operational Decision Making
- Customer Focus
- Driving Execution
- Driving Innovation
- Digital Acumen
- Guiding Team Success

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