Analyst: Anti-Money Laundering - FCSD at South African Reserve Bank

Job Description
Brief description

• The main purpose of this position is to assist the Prudential Authority, within the South African Reserve Bank (SARB), in discharging its supervisory duties as defined in the Financial Intelligence Centre Act 38 of 2001, as amended (FIC Act).

Detailed description

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

• Participate in targeted on-site inspections at banks and branches of foreign banks domiciled in South Africa, to test banks’ compliance with the provisions of the FIC Act with regard to anti-money laundering and combating the financing of terrorism (AML/CFT).
• Lead inspections targeted at banks and insurers when requested to- assessing compliance with the FIC Act
• Analyse and interpret data from banks and insurers.
• Drafting and review of documentation- supervisory, correspondence, presentations etc.
• Assist in projects, which enhance effectiveness and drive efficiency.
• Assist in bank and life insurance licensing applications that are considered by the AML team.
• Maintain assignment records. 
• Attend meetings with respective stakeholders as and when required.
• Provide input 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.
• Attend to off-site supervision and correspondence related to AML/CFT within the banking and insurance industry.

Qualifications
Job requirements

To be considered for this position, candidates must have:

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

The following would be an added advantage:

• knowledge of the provisions of the FIC Act;
• knowledge of international standards relating to AML/CFT (i.e. the Financial Action Task Force 40 Recommendations and the Basel Core Principles and Guidelines); and
• knowledge of the Banks Act and the Regulations relating to Banks.

Additional requirements include:

• ability to work in a team;
• strong technical analytical competencies;
• effective time management;
• proficiency in verbal and written communication; and
• competency in Microsoft Word, Excel and PowerPoint 2007/2010.

Deadline:16th February,2026