Aml Operational Team Lead #wealthandinvestment

4 months ago

Cape Town, South Africa Recruiter Ruth | Performability Recruitment Full time

**A leading hedge fund management firm is in need for a meticulous AML/ KYC Manager to join this ranks.**

This key team member would be responsible for...
- The build out of the groups shared services AML/KYC Operations team
- The first line of defense for the day-to-day compliance with applicable AML/CFT regulation and implementation of our written AML/CFT policies
- Processes and rules of procedures relating to risk management
- Customer due diligence and risk assessment
- investigation, record-keeping and internal controls

**Please note
- You must have **knowledge of financial services/products **and a solid understanding of **AML typologies in **wealth and investment management.**

A key deliverable will be optimising and streamlining the existing processes and ensuring regulatory outcomes are met.

**KEY RESPONSIBILITIES OF THE AML OPERATIONS TEAM**
- Assess, conclude, and sign off on client due diligence, risk scoring and risk assessment.
- Support onboarding for legal entities, determine UBOs, controlling persons, and conduct screenings.
- Review ECDD information for high-risk clients, assess risks, and provide recommendation to management.
- Conduct ongoing screenings, clear false positives or escalate as required.
- ensuring CDD, client risk assessment, and SOF information are in place before transaction processing.
- Collaborate with internal clients, set SLAs, and address queries and escalations.
- Develop, implement, and update controls to prevent money laundering and terrorist financing.
- Analyse issues, identify root causes, and implement preventive measures.
- Oversee transaction monitoring and ensure the team can identify suspicious transaction patterns, and ensure internal reports are submitted.
- Provide updates to the compliance team and to risk management where emerging patterns are identified and where additional controls should be implemented and recorded in the RMCP.
- Lead system improvements and operational projects. Continually assess and improve processes, and input into the systems roadmap, to ensure that AML/CTF/PF outcomes are met, as seamlessly as possible.
- Lead remediation projects, to resolve any issues identified by compliance/inspections/external reviews.
- Offshore compliant onboardings of SA individuals/entities.

**5 KEY PERFORMANCE AREAS**
- People Management: Train and develop the team, set and monitor KPIs, and plan capacity.
- Internal Client Management: Set SLAs, address queries and any escalations.
- Operational & Process Management: Develop and implement processes, ensure SLA adherence, and resolve compliance or audit findings.
- Risk Mitigation: Oversee the first line of defense for AML/CFT, assess risks and controls, develop and oversee transaction monitoring review.
- Projects & System Enhancements: Identify system improvements and lead operational or remediation projects.

**QUALIFICATIONS AND EXPERIENCE**
- Minimum of 5 years of experience in AML operations within the financial services industry.
- Experience in team and people management is advantageous.
- Degree in Law or Commerce.

**SKILLS AND COMPETENCIES**
- Team leadership and management with experience in building and enhancing teams
- Process design and optimisation.
- Analytical thinking with strong judgment.
- Ability to make complex risk-based decisions.
- Proficiency in data analysis.

**KNOWLEDGE**
- Comprehensive understanding of AML regulations in South Africa and FATF guidelines.
- Familiarity with customer behaviours and business practices that may pose risks.
- ** Knowledge of financial services/products.**:

- ** Understanding of AML typologies in wealth and investment management.**

**SYSTEMS COMPETENCY**

Experience with BPM onboarding systems, screening software, transaction monitoring algorithms. SQL knowledge is a plus.

**This is an in office role with a high capacity and dynamic team.

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