(1613) Sanctions Associate Analyst at South African Reserve Bank

Detailed description

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

• Apply global standards to the decision-making process when clearing alerts generated by the onboarding process, sanction screening and transactional monitoring systems in the capacity as a Level 1 approver.
• Monitor the updates to sanctions lists and submit for approval, where applicable, to ensure that systems are up-to-date, enabling accurate tracking and record-keeping.
• Support the Sanctions Manager by providing input into the development of policies and procedures for anti-money laundering, combating the financing of terrorism and combating proliferation financing (AML/CFT/CPF), sanction screening and transactional monitoring.
• Collate and document input on the development of policies and procedures for AML/CFT/CPF, sanction screening and transactional monitoring and submit for review.
• Coordinate and manage meetings and workshops. 
• Maintain and manage efficient records management in compliance with the South African Reserve Bank’s policy.
• Manage (log, monitor, escalate, transfer, resolve and close) sanctions-related incidents.
• Support the Sanctions Manager in conducting money laundering, terrorist financing and proliferation financing risk assessments. 
• Support the Sanctions Manager in evaluating the effectiveness of the sanction and transactional monitoring screening systems and recommend improvements to the rules and parameters of these systems, where necessary. 
• Test the effectiveness of rule and parameter changes made to screening systems, when required.
• Support and manage projects arising from changes to regulations, business and technology, where required.
• Compile and submit suspicious transactions reports to the Sanctions Manager. 
• Build relationships with relevant internal and external stakeholders to promote a culture of compliance and awareness of sanctions and money laundering-, terrorist financing- and proliferation financing-related risks.
• Stay abreast of relevant AML/CFT/CPF and sanction regulations, global best practice and ensure application thereof (e.g. changes to policies, rules and regulations, legislation and systems).

Qualifications

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

• a Bachelors degree in Finance, Law, Risk Management or an equivalent qualification; and
• two to five years’ experience in compliance and risk management environment, with a focus on AML/CFT/CPF and sanctions compliance. 

The following would be an added advantage:

• certification as an Anti-Money Laundering Specialist (CAMS).