Anti-Money Laundering Officer at Public Investment Corporation

Job Grade: D1 – D3
(Ref: AMLO)
Salary: All-inclusive remuneration package negotiable
Division: Compliance

Purpose of the role:

• To assist business to identify, assess, detect, monitor and report money laundering and related activities to the authorities and provide assurance to Management, Board, and Regulators that PIC is aware of and takes steps to comply with legislation, regulations, policies, processes and best practice relevant to the PIC.

Requirements:

•  Degree in Commerce/Law or equivalent related qualification
•  At least 2 – 4 years relevant experience as AML Officer/ Compliance Officer in the Financial Sector preferably in the investment management industry and/ or unlisted investments
•  Professional Body membership preferred, e.g. CISA and ACAMS
•  RE1, RE 3 and RE 5 certificates or obtain within 6 months of appointment to the role

Duties:

•  To perform and monitor various duties as required by the anti-money laundering and counterfinancing of terrorism (AML/CFT) regulatory requirements
•  Assist with drafting, reviewing and maintenance of PIC’s FICA Risk Management and Compliance Programme (RMCP) and ensure approval by relevant governance structures;
•  Conduct assessment of FICA, to know your clients (KYC) documents received in respect of clients, investee companies and their beneficial owners, and issue FICA compliance certificates with regard to clients/ investee companies/ unlisted transactions that are compliant.
•  Perform initial and ongoing risk rating of clients and investee companies using RMCP risk rating matrix, to ensure continuous compliance with FICA
•  Assist with identification, analysis and reporting of Suspicious and/ or Unusual Transactions (STRs), Terrorist Properties Report (TPR) and Cash Threshold Transactions (CTR), to the FIC;
•  Perform screening of new and existing clients, investee companies and their beneficial owners, against the United Nations Security Council list and related sanctions lists, through Dow Jones system, and report any matches to the authorities, as required in terms of FICA.
•  Assist with development and maintenance of training material on FICA and provide/ facilitate training to employees
•  To provide inputs into compliance monitoring plans and review compliance risk management plans (CRMPs) based on relevant legislative requirements;
•  Conduct compliance monitoring and reviews, and report on the level of compliance with legislation and policies
•  Advise business on how to appropriately and effectively manage compliance and reputational risk in the organization;
•  Perform ad-hoc functions, as and when assigned by Management.

Competencies and skills:

•  Audit techniques
•  Compliance opinions
•  Negotiation skills
•  Good communication skills, both verbal and written
•  Analytical skills
•  Presentation skills
•  Knowledge of and experience in asset classes (financial instruments) relevant to PIC
•  Knowledge of and experience in legislation relevant to PIC (e.g. FICA, POCA, POCDATARA, PRECCA, Companies Act, FAIS Act, Pension Fund Act, PFMA, Financial Markets Act, FSRA, Competition Act, King IV)
•  Good report-writing skills
•  Project Management skills
•  Interpersonal skills
•  Policy development, and the ability to understand and interpret legislation
•  Knowledge of and experience in Corporate Governance
•  Risk Management skills

With the PIC having topped the R2,5 trillion mark in assets under management and in the process of entering the global investment market, it is the best asset manager any serious professional would want to be associated with. It is also one of the better places from which one can serve South Africa.
PIC is an equal opportunities employer and as such appointments will be in line with the PIC Employment Equity plan.