Specialist: Anti-Money Laundering Operations
Reference Number
PAM/PrincSpecAMLOper/SM/Mid
PAM/PrincSpecAMLOper/SM/Mid
Job Title:
Principal Specialist: Anti-Money Laundering Operations
Principal Specialist: Anti-Money Laundering Operations
Location:
Midrand
Midrand
Job Level:
4 (Upper)
4 (Upper)
Reports To:
Group Executive: Anti-Money Laundering
Group Executive: Anti-Money Laundering
Response Deadline:
31/3/2011
31/3/2011
Objectives:
1. Policies
1. Policies
•Advise the business on the appropriate levels of Anti Money Laundering (AML) (which includes the prevention of terrorist financing) systems and controls to meet local and group policy requirements and implement relevant systems.
•Ad hoc Analysis of projects within the group.
•Ad hoc Analysis of projects within the group.
2. Compliance
•Specify the requirements for developing new AML operations systems for managing the risk of money laundering and terrorist financing,
•Develop and maintain an effective sanctions & Political Exposed Persons (PEPs) screening function.
•Develop and maintain an effective Suspicious Activity Reporting Systems (SARS) management function.
•Reporting incidents under anti-money laundering legislation to appropriate authorities.
•Collaborate with Risk Group to identify and redress vulnerabilities in our systems to reduce loss entailing:
* Threat assessment of money laundering: terrorist funding
* Recommendations in relation to future preventative measures
* Presentations to the Banking Partner by means of intelligence packages in order to enable them to brief the FIC and other relevant agencies;
•Develop and maintain an effective sanctions & Political Exposed Persons (PEPs) screening function.
•Develop and maintain an effective Suspicious Activity Reporting Systems (SARS) management function.
•Reporting incidents under anti-money laundering legislation to appropriate authorities.
•Collaborate with Risk Group to identify and redress vulnerabilities in our systems to reduce loss entailing:
* Threat assessment of money laundering: terrorist funding
* Recommendations in relation to future preventative measures
* Presentations to the Banking Partner by means of intelligence packages in order to enable them to brief the FIC and other relevant agencies;
•Specify the requirements for the development of the Outlet Data management and monitoring system and implement it;
•Implement and maintain the KYC Quality Assurance System
•Present findings following analysis of reports generated from the above mentioned systems to AML where appropriate to the business, in appropriate form which can include:
*Apprising managers, internal investigators by means of reports
*Production of SARS for regulatory bodies and where necessary, for the Forensic Division
*Apprising managers by means of reports and recommendations
•Conduct strategic research as required in relation to high value / threat of AML issues.
•Provide support to the business and improve relationship with internal (especially, but not exclusively, the Sales, Mpesa Operations and Forensic Services Divisions).
•Implement and maintain the KYC Quality Assurance System
•Present findings following analysis of reports generated from the above mentioned systems to AML where appropriate to the business, in appropriate form which can include:
*Apprising managers, internal investigators by means of reports
*Production of SARS for regulatory bodies and where necessary, for the Forensic Division
*Apprising managers by means of reports and recommendations
•Conduct strategic research as required in relation to high value / threat of AML issues.
•Provide support to the business and improve relationship with internal (especially, but not exclusively, the Sales, Mpesa Operations and Forensic Services Divisions).
3. Monitoring
•Follow up on audit recommendations to ensure corrective action is implemented.
•Follow up on reports of suspicious activities and preparation of reports for review by the Principal Specialist: Systems Controls.
•Follow up on KYC quality reports
•Follow up on Outlets data reflecting non compliance
•Follow up on audit recommendations to ensure corrective action is implemented.
•Follow up on reports of suspicious activities and preparation of reports for review by the Principal Specialist: Systems Controls.
•Follow up on KYC quality reports
•Follow up on Outlets data reflecting non compliance
4. Evaluation, Training and Awareness
•Train assigned staff on AML matters and systems
•Periodically provide AML education & training awareness for new and existing staff and Outlets.
•Liaison with other relevant organizations with AML functions for professional development and information sharing
•Train assigned staff on AML matters and systems
•Periodically provide AML education & training awareness for new and existing staff and Outlets.
•Liaison with other relevant organizations with AML functions for professional development and information sharing
5. Other Assignments
•Any other task that may be assigned from time to time by the Chief Regulatory and Compliance Officer.
•Any other task that may be assigned from time to time by the Chief Regulatory and Compliance Officer.
Key Outputs:
•AML Operational Manuals for AML operations systems developed and communicated to relevant staff and Outlets.
•AML policies reviewed regularly to ensure that operational systems requirements sufficiently integrate all AML requirements requiring systems inputs or functionality, and ensure that changes are communicated to the affected staff and Outlets
•Identification of system weakness and improvement opportunities.
•Customers and Outlets are screened. PEPs and sanctioned individuals are identified and appropriate management systems put in place.
•Suspicious activities are monitored and are immediately reported to the Principal Specialist: Systems and Controls.
•Intelligence alerts.
•KYC Quality Assurance system outputs are generated, analysed and reports given to business in required format.
•Outlet data management and monitoring system outputs are analysed and reports given to business in prescribed format.
•Appropriate recommendations are made to the business in the required format following analysis of reports generated from the AML Operations systems .
•Team of analysts developed and maintained.
•AML Operational Manuals for AML operations systems developed and communicated to relevant staff and Outlets.
•AML policies reviewed regularly to ensure that operational systems requirements sufficiently integrate all AML requirements requiring systems inputs or functionality, and ensure that changes are communicated to the affected staff and Outlets
•Identification of system weakness and improvement opportunities.
•Customers and Outlets are screened. PEPs and sanctioned individuals are identified and appropriate management systems put in place.
•Suspicious activities are monitored and are immediately reported to the Principal Specialist: Systems and Controls.
•Intelligence alerts.
•KYC Quality Assurance system outputs are generated, analysed and reports given to business in required format.
•Outlet data management and monitoring system outputs are analysed and reports given to business in prescribed format.
•Appropriate recommendations are made to the business in the required format following analysis of reports generated from the AML Operations systems .
•Team of analysts developed and maintained.
Competencies:
Skills:
•Detailed orientated
•Keen mind and positive outlook
•Conscientious
•High degree of personal integrity
•Demonstrable numerical skills
•Analytical Skills
•Knowledge of techniques to identify indicators of terrorist funding.
•Problem Solving Skills
•Excel – Expert
•i.2 – Expert
Skills:
•Detailed orientated
•Keen mind and positive outlook
•Conscientious
•High degree of personal integrity
•Demonstrable numerical skills
•Analytical Skills
•Knowledge of techniques to identify indicators of terrorist funding.
•Problem Solving Skills
•Excel – Expert
•i.2 – Expert
Knowledge of
•AML and terrorist financing laws and standards
•AML, Fraud and anti-terrorist financing best corporate practice
•AML screening tools
•AML and terrorist financing laws and standards
•AML, Fraud and anti-terrorist financing best corporate practice
•AML screening tools
Attributes
•Accountable
•High levels of Integrity
•Accuracy
•Attention to detail
•Team Player
•Adaptable
•Initiative
•Result driven
•Customer focused
•Meeting deadlines
•Innovative
•High levels of Integrity
•Accuracy
•Attention to detail
•Team Player
•Adaptable
•Initiative
•Result driven
•Customer focused
•Meeting deadlines
•Innovative
Requirements:
Qualifications:
Qualifications:
•An LLB or a four year degree in finance, economics or business administration, in which case an additional diploma or certificate in AML or Compliance (which includes an AML module) will be an advantage; OR
•A three year degree in finance, economics or business administration, in which case an additional diploma in AML or Compliance (which includes an AML module) is a requirement;
•A three year degree in finance, economics or business administration, in which case an additional diploma in AML or Compliance (which includes an AML module) is a requirement;
Experience:
•8 years of legal experience or experience in compliance, which includes a minimum of 4 years in a telecommunications, banking and/or a legal environment with specialist experience in AML.
•8 years of legal experience or experience in compliance, which includes a minimum of 4 years in a telecommunications, banking and/or a legal environment with specialist experience in AML.
Employment Equity:
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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