Anti-Money Laundering And Counter-Financing Of TerrorismSouth African Reserve Bank

The successful candidate will be responsible for the following key performance areas:

•      Participate in targeted on-site inspections at banks, mutual banks, life insurers, cooperative banks, banks’ subsidiaries in foreign jurisdictions and branches of foreign banks domiciled in South Africa, to test compliance with the provisions of the FIC Act with regard to anti-money laundering, counter-financing of terrorism and counter-proliferation financing (AML/CFT/CPF).
•      Lead inspections targeted at banks and life insurers to assess compliance with the FIC Act and FATF standards, including travelling to banks’ subsidiaries in foreign jurisdictions.
•      Analyse and interpret data from banks and life insurers.
•      Drafting and review of documentation, correspondence, presentations etc.
•      Assist in PA projects, which enhance effectiveness and drive AML/CFT supervision efficiency.
•      Attend meetings with respective stakeholders as and when required.
•      Provide inputs into inspection reports and closing letters to the management of banks and life insurers.
•      Undertake ad hoc on-site review projects pertaining to banks’ compliance with the Banks Act 94 of 1990 (Banks Act) and the Regulations relating to Banks.
•      Manage AML/CFT inspection processes and present findings to the supervised institutions.

Job Requirements        
To be considered for this position, candidates must be in possession of:

•      a Post graduate degree in Accounting, Auditing, Finance or Law an equivalent qualification; and
•      five to eight years’ practical experience in AML/CFT/CPF compliance within the banking and/or life insurance industry.

Additional requirements include:

•      knowledge of the provisions of the FIC Act;
•      knowledge of international standards relating to AML/CFT/CPF (i.e. the Financial Action Task Force 40 Recommendations and the Basel Core Principles and Guidelines);
•      knowledge of the Banks Act and the Regulations relating to Banks;
•      problem-solving and analytical skills;
•      financial and business acumen;
•      attention to detail;
•      excellent verbal and written communication skills;
•      ability to effectively and efficiently manage time;
•      proven ability to influence, build and maintain relationships; and
•      proven ability to work effectively in a team.