To implement FCC Policies, Standards and Procedures. To support with implementation of the FCC Strategy. To provide specialist FCC related guidance and advice to the business stakeholders. To identify and address FCC specific awareness and training needs which is essential to assure that the Bank is conducting business in a compliant manner to avoid operational losses, fines, penalties, or reputational damage.
- Type of Qualification: First Degree
- Field of Study: Banking/Business/Commerce
Professional course in Money Laundering e.g., Certified Anti-Money Laundering Specialist (CAMS), International Compliance association (ICA) and equivalent
- 7-10 years
- In AML, KYC and Enhanced Due Diligence experience. Good working knowledge and understanding of Forensics, Fraud and/or Money Laundering Legislation would be an advantage
- Good working knowledge of the banking environment, systems and procedures
- Articulating Information
- Challenging Ideas
- Checking Details
- Convincing People
- Generating Ideas
- Interacting with People
- Making Decisions
- Meeting Timescales
- Providing Insights
- Team Working
- Thinking Positively
- Upholding Standards
- Evaluating Risk Management Effectiveness
- Financial Industry Regulatory Framework
- Promote Good Governance, Risk & Control
- Requirements Risk Management
- Risk Management
Support Senior Manager, FCC/MLRO with the following:
- Completion of the FCC regulatory universe and risk management plans
- Change management activities – implementation and maintenance of AML/CFT solutions.
- Product risk assessments and new product approvals – support the business as the subject matter expert and liaison with Group Financial Crime Compliance on product risk assessment governance and approvals.
- Enterprise-wide risk assessments including Bank, SBGS and SBIL (aligned with new regulatory requirements) covering money laundering, terrorism financing, proliferation financing, anti-bribery and corruption (ABC) and prevention of facilitation of tax evasion (PFTE)
- Regulatory reporting - Effective and timely suspicious transactions reports (STRs) and cash transaction reports (CTR) and AML/CFT/CPF risk returns reporting as delegated by the MLRO/ Senior FCC Manager
- Strategic risk-based reviews and deep dives including the CDD review workstream.
- Regulatory engagements – support in driving strategic engagements with the Financial Reporting Centre and participate in CBK/SARB inspections and Group Internal Audit reviews.
- Oversight of 1st line FCC activities e.g., KYC compliance
- Ensuring that all FCC work trackers/databases are accurately updated with required information for management generation.
Work with Fintech and Correspondent banking partners to ensure thorough KYC and CDD controls are in place
- Work closely with client facing stakeholders to identify, investigate, manage and/or remediate correspondent banking financial crime risks originating from and/or impacting Correspondent Banking business and partners.
- Support the ongoing oversight of financial crime risk controls in Correspondent Banking business to determine their adequacy and propose appropriate enhancements to existing controls, and any new controls being developed, to align with industry best practices and regulatory expectations.
- Participate in the annual due diligence refresh Compliance review calls and ensure timely responses to due diligence questionnaires and requests for information.
Produce and prepare monthly reports and statistics information
- Responsible to keep statistics of all work received, processed and reported by the team.
- Provide monthly reports on the team’s performance, challenges and productivity. Contribute towards the monthly governance reports report.
- Derive actionable and sustainable conclusions from trends analysis, provide recommendations and assist in execution.
- Review and/or contribute on the presentation of insights back to executive leaders / business partners to drive strategic improvement.
- Escalate reports / client risk notifications for significant matters that are to be referred to senior management and/or business.
Embed and oversee the adherence to approved end to end processes and working instructions for the day-to-day operations of the FCC team
- When appropriate, or required, contribute towards the development and implementation of new processes or working instructions for operational procedures conducted in the FCC.
- Regularly review existing policies, processes and systems to identify gaps and potential efficiencies and refer these to Senior Manager, FCC/MLRO.
- Oversee the adherence to documented processes by the team.
- Ensure that the escalations framework is implemented and effective by exercising the appropriate oversight.
- Regularly review existing system access and new systems that may be required.
- Be the centre of intelligence on researching new typologies and engage with management on trend changes in the industry and FCC.
- Participate, where required, in any projects relating to FCC operations.
- Participate in any project testing required.
- Attend meetings and provide required input that add operational value.
Enhance knowledge bank wide by providing training where necessary and required.
- Identify bank staffs FCC training needs and provide training.
- Conducting deep dives and trend analysis of internal risk events (SARS/Court-Orders/Exits and Payment breaches) for MI and training.
- Participate in the success of the branch awareness training.
- Stay abreast of relevant trends and typologies to utilise this information to inform the Framework, to create awareness around new modus operandi and to identify potential risks.