Financial Crime Regulatory Specialist

2 weeks ago

Sandton, South Africa Absa Bank Limited Full time

Bring your possibility to life Define your career with us
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary

To provide oversight and support to CIB business to ensure compliance with its obligations in terms of the Anti-Money Laundering (AML) and Sanctions/Countering of Terrorist Financing legislation/regulation and its employees with the provisions of the applicable laws and internal policies and rules. To ensure adherence with the Anti-Bribery and Corruption (ABC) Policy requirements.

**Job Description**:
Accountability: Oversight of AML, Sanctions and ABC

Assist the FLOD Anti-Money Laundering (AML), ABC and Sanctions functions within CIB to ensure:

- Full regulatory compliance by liaising with relevant Stakeholders deployed in business, i.e. Compliance / Risk resources.
- Ensure the awareness of processes to report suspicious transaction reports within the business unit/ area by creating awareness and knowledge share at Forums. Ensure that the escalation process, as defined, is followed and the Head of CIB Financial Crime Compliance (FCC) is aware of non-compliance.
- Act as custodian on behalf of the Head of CIB FCC on AML related, Sanctions and Anti-Bribery & Corruption Policies within CIB and manage the process for the escalation of dispensations / waivers.
- Ensure that business unit / area provides awareness and training programmes in respect of Money Laundering, Sanctions and Bribery & Corruption in accordance with the statutory requirements. Where needed, deliver face-to-face or specialist training to the relevant business upon request or where a need is identified through monitoring and testing, query management, etc.
- Support business unit/ area visits / inspections from relevant Regulators when required.
- Co-ordinate action within the business unit / area to comply with any AML, ABC or Sanctions related issues or new requirements arising from regulation or policy.
- Engage as a member of appropriate industry working groups by participating in selected Industry Forums.
- Deliver global anti money laundering and terrorism regulatory initiatives (within the business unit/ area, e.g. Sanctions) where applicable.
- Oversee the remediation required to be completed following any form of assurance review conducted (i.e. Internal Audit, Financial Crime).
- Assist the various Money Laundering Reporting Officers (MLRO) in setting the overall AML, Sanctions, and Bribery and Corruption strategy within their respective areas. Assist the various MLRO’s in further improving both the output to stakeholders in this respect, but also input from non-AML areas, specifically Business priorities.

Accountability: Politically Exposed Persons

In conjunction with the Financial Crime Regulatory Team:

- Ensure each area has implemented and maintains a PEP register
- Provide advice on the PEP standard as and where required
- Liaise with the AML responsible persons regarding their PEP registers and reviews
- Maintain relevant Management Information in respect of PEPs
- Liaise with Group FCC in respect of PEP related matters

Accountability: Financial Crime Reporting

In conjunction with the Head of CIB FCC:

- Provide Financial Crime Management Information as and when required

Accountability: Stakeholder Management

Build and maintain meaningful relationships with key internal business unit and external (for example, Regulators) stakeholders with the aim of understanding their business needs. This will entail having regular meetings with the relevant senior management or other key staff of the business.
- Implement established escalation processes for significant issues and concerns raised so as to manage the culture of "no surprises". This will entail having proactive, regular, meaningful meetings with key stakeholders, as well as ensuring that reports are discussed and submitted timeously to the relevant executive business head.
- Manage interaction with stakeholders that span multiple businesses, functions and geographies within the firm.
- Ensuring that Financial Crime matters are correctly referred to the applicable Financial Crime discipline and follow appropriate escalation routes, while involving the relevant stakeholders early and fully.

Accountability: Manage AML/Sanctions/Bribery & Corruption programs

Establish and manage an Anti-Money Laundering/ Terrorist Financing/ Sanctions/ Anti-Bribery & Corruption programme within the business unit/ area by assigning responsibilities and driving the conclusion of matters.
- Inspire and drive high performance in individuals and in the team as appropriate within the support network within the Business Unit, i.e. Chief Operating Officers (COOs), Compliance Officers, Business Risk resources etc.
- Perform an interface role

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