Edd Manager
2 weeks ago
**Closing Date**
- 09 February 2023**Job Purpose**
- The Enhanced Due Diligence (EDD) Manager is required to drive the EDD process and advise and provide input into EDD artefacts in relation to high-risk clients to enable CIB to mitigate its financial crime, sanctions, terrorist financing and reputational risk (risks).**Responsibilities**:
- Having a working knowledge Nedbank Group’s various AML, CFT & Sanctions risk methodologies as well as CIB CORE processes insofar as it pertains to the management of high risk clients.
- Analysis of adverse media to determine whether an EDD is required to assess the potential reputational risk posed by such adverse media including interaction with the CIB adverse media team and CIB AML.
- Utilizing various systems to analyse client risk scoring to determine its EDD requirements.
- Timeous closure of alerts in Actimize.
- Act as delegated member of HRR subcommittee (HRR subcom) to timeously approve subcommittee EDD’s. Timeously approve other EDD artefacts as may be required.
- Draft Enhanced Due Diligence submissions (including conducting research as may be necessary) in respect of high-risk clients to onboard, maintain, downgrade or terminate such clients for presentation to the various High and Reputational Risk Committees to ensure that all risks are discussed and addressed. This includes but is not limited to:
- obtaining a good understanding of the client’s business and intended (or existing) business relationship with Nedbank, including applicable transactions that are expected to flow from the products comprising the business relationship.
- determination of known close associates.
- analysis of the client’s ownership and control structure.
- drafting of written responses to questions posed by the HRRC or HRR subcom and the timeous submission thereof where required.
- Liaison with bankers to draft components of the EDD including providing clarification, advice, guidance, and assistance to the Coverage and Product teams on risks introduced to Nedbank as a result of relevant client relationships and the specific risks elements contained in Nedbank’s risk profiling methodology.
- Facilitate required business approval of EDDs where necessary.
- Perform peer reviews on EDDs produced by other team members.
- Assist with training of Middle Office, Coverage and Product teams on EDD preparation and process.
- Facilitate interactions with, and advice from, CIB AML Risk on client matters including Due Diligence Questionnaires and GFCFS reports where appropriate. Interact with CIB Legal insofar as it is relevant to the preparation of EDDs.
- Attend HRRC meetings to support Coverage and Product teams when EDD’s are presented.
- Essential Qualifications - NQF Level- Advanced Diplomas/National 1st Degrees
- Preferred Qualification- LLB / BA Law Degree and or a Compliance Related Qualification- Minimum Experience Level- Minimum of 5 years’ experience in (or related to) a Banking environment. Experience and knowledge of the South African regulatory environment as well as being able to compile detailed due diligence reports in order to enable CIB to properly consider and mitigate risks that arise from High-Risk clients.
- CIB client, business, products and transaction knowledge will be advantageous.
**Technical / Professional Knowledge**
- Relevant regulatory knowledge
- Risk management process and frameworks
- Cluster Specific Operational Knowledge
- Governance, Risk and Controls
- Compliance reporting
- Reputational risk management
- Stakeholder management
- Codes of Good Governance
- Behavioural Competencies- Decision Making
- Influencing
- Building Trusting Relationships
- Managing Work
- Quality Orientation
- Stress Tolerance
**Employment Equity Statement**:
- PREFERENCE WILL BE GIVEN TO INDIVIDUALS FROM UNDERREPRESENTED GROUPS- **_Please contact the Nedbank Recruiting Team at +27 860 555 566_
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