Anti-money Laundering Regulatory Specialist

1 week ago

Parktown, South Africa Hollard Recruitment Full time

**Job Advert Summary**:
**Key Responsibilities**

**STR/ CTR/ Section 27 & Other Reports**
- Attend to FICA ad-hoc 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 non-compliance 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 anon-going 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 risk-based 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 on-going 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 co-ordinating 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 anti-money 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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