(1615) Sanctions Analyst at South African Reserve Bank

Detailed description

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

• Apply global standards on the decision-making process when clearing alerts generated by the onboarding process, sanction screening and transactional monitoring systems in the capacity as a Level 2 approver.
• Approve the sanctions lists updates to ensure that systems are up-to-date to enable accurate tracking and record-keeping.
• Identify and mitigate sanctions risks by taking decisions, updating internal watchlists and ensuring that action is taken as per the applicable business processes and regulatory requirements.
• Provide 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.
• Review the documented input on the development of policies and procedures for AML/CFT/CPF, sanction screening and transactional monitoring for approval.
• Support the Sanctions Manager in conducting money laundering, terrorist financing and proliferation financing risk assessments to identify any areas of potential vulnerability and implement appropriate controls.
• 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. 
• Review test results for 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.
• Oversee the daily alert management process.
• Compile or review and submit suspicious transactions reports to the Sanctions Manager. 
• Assist the Sanctions Manager in consolidating information regarding the escalation of suspected violations to senior management and/or to the Sanctions Committee, where applicable.
• 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 practices 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
• three 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).