AML Operations Specialist

1 month ago

CapeTown, South Africa The Recruitment Council Full time
Job Title: Financial Crime Specialist

The Recruitment Council is seeking a Financial Crime Specialist to join our team. As a key member of our AML Operations team, you will play a crucial role in ensuring compliance with applicable regulations and laws.

Key Responsibilities:
  • Enhanced Client Due Diligence (ECDD):
    • Conduct thorough assessments of ML/TF/PF risk for high-risk clients and prepare detailed ECDD reports with recommendations for management.
  • Legal Entity Onboarding:
    • Provide specialist support for legal entity onboarding, including identifying ultimate beneficial owners (UBOs) in accordance with local and international regulations.
  • Customer Due Diligence:
    • Perform customer due diligence and risk assessments during client onboarding and throughout the client lifecycle, ensuring compliance with our Risk Management Compliance Program (RMCP).
  • Screening and Monitoring:
    • Execute sanctions, PEP, and adverse media screening for clients and related parties, managing daily alerts generated by screening systems.
  • Verification and Compliance Checks:
    • Conduct ID and address verification, as well as FATCA/CRS checks for accuracy and proper client classification.
  • Transaction Analysis:
    • Analyze transactions to identify suspicious or unusual activities and report findings accordingly.
  • Regulatory Adherence:
    • Maintain compliance with risk management and compliance program (RMCP) requirements, staying current on regulatory changes and best practices.
  • Stakeholder Guidance:
    • Provide guidance to business stakeholders on RMCP requirements throughout the client lifecycle.
  • Collaboration and Projects:
    • Work with internal teams to develop AML policies and procedures, participate in remediation projects, and address internal client queries.
  • Performance Metrics:
    • Ensure that service level agreements (SLAs) are met and escalate risks to the Head of AML Operations promptly.
Key Relationships:
  • Collaborates with FICA/AML Compliance, Advisors, Business Unit Leaders (BULs), BU Team Leaders, and BU Managers.
Qualifications and Experience:
  • Education: Legal or commercial degree required.
  • Certifications: AML compliance certificate / ACAMS preferred.
  • Experience:
    • 1-2 years in performing enhanced customer due diligence and report preparation.
    • 2-3 years in customer onboarding and ongoing due diligence.
  • Knowledge: In-depth knowledge of the AML legal framework in South Africa, including the FIC Act; understanding of FATF recommendations and Guernsey AML requirements is preferable.
Skills:
  • Exceptional report-writing skills; ability to communicate complex information clearly.
  • Strong analytical and critical thinking abilities.
  • Attention to detail and ability to identify ML/TF/PF risks with proposed mitigating actions.
  • Proficiency in data analysis and presentation of findings.
Systems Competency:
  • Experience with BPM onboarding systems, screening software, transaction monitoring algorithms, and proficiency in MS Office Suite (Excel, Word, PowerPoint).
Language:

English

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