Anti-money Laundering Compliance Officer

1 month ago

Centurion, South Africa Risk Management Full time

**Introduction**Disclaimer**
- As an applicant, please verify the legitimacy of this job advert on our company career page.**Role Purpose**
- To provide comprehensive AML/FICA compliance solutions, advice, and opinions to meet the business requirements of the Momentum Group, and engage in legal risk management and mitigation related to AML and financial crime matters. The AMLCO is responsible for developing and maintaining the AML/FICA framework, ensuring compliance across business units, and managing relationships with regulatory authorities. The role also involves overseeing transaction monitoring, ensuring compliance with sanctions regimes, and leading internal reviews to mitigate risks and enhance the overall effectiveness of the AML program across Momentum Group entities.**Requirements**:
**QUALIFICATIONS**:

- Degree/Diploma in Law, Finance, Business, or a related field.
- Relevant certifications (in AML (Prac), Compliance, or equivalent).

**EXPERIENCE**:

- Proven experience (minimum 8-10 years) in the capacity of an AML Compliance officer or related senior compliance role within financial services, insurance, or banking.
- Strong understanding of relevant AML legislation, including local and international regulations

**SKILLS & KNOWLEDGE**:

- Comprehensive knowledge of AML laws and regulations.
- Strong analytical skills and attention to detail.
- Ability to work independently and make informed decisions.
- Ability to collaborate and manage deliverables across the various business units and divisions
- Excellent communication and interpersonal skills.
- Proficiency in relevant regulatory reporting systems and tools.

**DESIRABLE**:

- Experience in liaising with regulatory authorities.
- Understanding of emerging AML risks

**Duties & Responsibilities**

**INTERNAL PROCESS**:

- **
AML Compliance Framework**:

- Develop, implement, and maintain the company’s AML/FICA policies, procedures, and controls in conjunction with business unit CROs and deployed compliance functions
- Regularly review and update AML/FICA policies in line with changes to legislation, regulations, and best practices
- Monitor and assess the effectiveness of the AML/FICA framework, ensuring it remains compliant with relevant laws
- **
Risk Assessment**:
In collaboration with the business unit CROs and deployed compliance functions:

- Ensure that regular risk assessments are conducted in relation to money laundering, terrorist financing, and other financial crimes
- Evaluate the adequacy and effectiveness of internal controls to manage these risks (this can also be done through agreed upon Internal Audit reviews)
- Coordinate and maintain the Business Risk Assessment (BRA) and Risk Management Compliance Plan (RMCP) for Momentum Group and the main Life License (Momentum Metropolitan Life Limited)
- **
Transaction Monitoring & Reporting**:

- Oversee transaction monitoring processes to identify suspicious or unusual transactions
- Investigate, escalate, and report suspicious activity to relevant regulatory authorities (e.g., Financial Intelligence Unit) via Suspicious Activity Reports
- Ensure efficient use of the Group’s technology capabilities to automate and streamline reporting requirements (there are existing technologies in place managed by the Shared Services technology teams)
- Ensure timely and accurate submission of all regulatory reports
- **
Training & Awareness**:

- Conduct ongoing training programs (with Learning and Development) to ensure all staff are aware of AML obligations, potential risks, and internal reporting procedures.
- Ensure training is reviewed at least annually, and when any legislative changes take place, to ensure relevancy of training.
- Provide targeted training to employees in high-risk areas.
- **
Internal Reviews and Advisory**:

- Oversight over reviews of internal systems and controls related to AML to ensure compliance
- Work with internal and external auditors during AML-related audits and regulatory inspections
- Provide advice and guidance in relation to legislative / regulatory requirements, alerts, suspicious or unusual activities
- Manage internal steering committees and deep dives related to AML
- **
Customer Due Diligence (CDD) and Know Your Customer (KYC)**:

- Ensure that robust CDD/KYC processes are in place for onboarding clients and during ongoing monitoring
- Ensure appropriate processes are in place to manage the enhanced due diligence (EDD) on high-risk clients and entities
- Where necessary, review client risk profiling and ensure appropriate risk mitigation measures are applied
- **
Regulatory Liaison**:

- Serve as the primary point of contact with local and international regulatory authorities on AML/FICA matters
- Ensure the timely submission of regulatory filings and responses to requests from regulators
- **
Sanctions Compliance**:

- Ensure the company’s compliance with sanctions regimes and regularly monitor for updates on sanctions lists
- Maintain and enh

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