AML, CFT, Sanctions and Exchange Control Monitoring Officer at Nedbank

Job Purpose

To analyse and monitor regulatory risk indicators associated with money laundering, terrorist financing, Sanctions and Exchange Control Compliance to ensure risks to Nedbank Group are mitigated.

Job Responsibilities

• Identify the likelihood and probability of being imposed with a regulatory risk penalty, criminal liability and/or administrative sanction, through analysing and monitoring risk indicators and advise stakeholders accordingly, to ensure compliance to regulatory requirements, improved business results and client service. 
• Analyse, monitor and track regulatory risk indicators by highlighting possible risks and ensuring reporting takes place within regulatory required timelines. 
• Interact with stakeholders through engagement at meetings, to build and maintain collaborative relationships and ensure smooth flow of work and alignment of regulatory requirements as set by South African Reserve Bank (SARB) and Financial Intelligence Centre (FIC). 
• Engage with stakeholders during meetings to obtain buy - in for implementation of proposed continuous improvement changes and initiatives. 
• Provide professional, objective input and creating awareness to stakeholders on relevant alerts and actions to be implemented, to mitigate risk, maintain collaborative relationships and meet expectations and needs of clients. 
• Obtain statistical and transactional data (e.g. SAS reports for cash threshold reporting) from relevant systems (e.g. NDW sanctions and Politically Exposed Persons (PEP) Process), reports and data from subsidiaries and stakeholders as to analyse and review information to ensure accuracy of information and correct processes followed. 
• Download, prepare, sort, interrogate and interpret information and data to identify relevant breached thresholds as to identify potential risks and trends and ensure compliance standards are adhered to. 
• Communicate identified risks, trends and corrective actions to be taken by relevant stakeholders through reports, governance forums/structures and meetings to ensure corrective action is implemented and risks mitigated. 
• Follow up on identified risks and corrective action to be taken by stakeholders within specified timeframe through meetings and/or electronic medium to ensure that regulatory requirements are met. 
• Provide an oversight of risk indicators (e.g. suspicious transactions reporting and non-
• Client Information System (CIS)) by reviewing reports submitted by stakeholders to governance forums and structures to ensure that compliance requirements are adhered to and corrective action taken. 
• Provide input into new reports or enhancements to existing reports (e.g. NDW sanctions) through gaps identified during analysis of risk indicators to ensure risks are exposed and mitigated. 
• Define and test the system controls for regulatory reporting and monitoring. Ensure all regulatory systems governance requirements and procedures are adhered to. 
• Identify training courses and career progression for self through input and feedback from management to improve personal capability and to stay abreast of developments in field of expertise. 
• Ensure all learning curriculum activities are completed within specified timeframe to ensure personal growth and application of new competence in function to enable effectiveness in performance of roles and responsibilities 

Job Responsibilities Continue

• Provide input into training sessions and/or share knowledge of trends and identified risks with team and stakeholders during formal and informal interaction so that relevant upskilling takes place and effective handover to relevant responsible person for actioning. 
• Obtain buy-in for developing new and/or enhanced reports that will improve reporting of risk indicators and/or proposed corrective action to be taken by business by highlighting benefits and associated regulatory risks so that ideas and initiatives are supported and implemented. 
• Participate in Nedbank Culture building initiatives (e.g. Surveys etc.) contributing to a culture conducive to the achievement of transformation goals. 
• Participate and support corporate social responsibility initiatives for the achievement of business strategy (e.g. Green Strategy). 
• Identify opportunities to improve or enhance business processes and methodologies by researching, developing, implementing, and recommending improvement initiatives and effective ways to operate and add value to Nedbank. 
• Define and test the system controls for regulatory reporting and monitoring (Actimize SAM-R, SAM-C, WLF, CDD, FIC goAML, Finsurv, Side Safewatch etc). 
• Essential Qualifications - NQF Level
• Advanced Diplomas/National 1st Degrees
• Preferred Qualification
• BA Law and/or Compliance Honours 
• Preferred Certifications
• Associated Certified Anti-Money Laundering Specialist (ACAMS)

Minimum Experience Level

• 2 years’ experience in analysing and monitoring risk indicators in Anti-Money Laundering (AML), Counter Terrorist Financing, Sanctions Compliance and/or Exchange Control in a banking environment or similar 

Type of Exposure

• Analysing and interpreting quantitative and qualitative data 
• Interacting with various levels of management 
• Drafting reports 
• Monitoring adherence and compliance 
• Influencing stakeholders to obtain buy-in for concepts and ideas 
• Sharing information in different ways to increase stakeholders understanding 
• Summarizing information in graphs and charts 
• Analysing situations or data that requires an in depth evaluation of multiple factors 
• Displaying high level of ethics, integrity and confidentiality 
• Presenting to senior leaders 

Technical / Professional Knowledge

• Relevant regulatory knowledge
• Relevant software and systems knowledge
• Stakeholder management
• Data analysis
• Industry trends
• Money laundering knowledge
• Counter Terrorist Financing
• Corporate finance knowledge
• Exchange control knowledge
• Compliance Knowledge