Associate AML/CFT Analyst-FCSD at South African Reserve Bank

Brief description                                                                                                 

The main purpose of this position is to assist the Prudential Authority (PA) 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 and off-site inspections at banks, mutual banks, life insurers, cooperative banks, banks’ subsidiaries in foreign jurisdictions and branches of foreign banks domiciled in South Africa, to test compliance with the provisions of the FIC Act with regard to anti-money laundering, countering the financing of terrorism and countering proliferation financing (AML/CFT/CPF). 
• Assist in AML/CFT/CPF inspection processes and present findings to the banks and life insurers.
• Provide inputs into inspection reports to the management of banks and life insurers.
• Perform off-site supervision of banks and life insurers.
• Analyse and interpret data from banks and life insurers.
• Draft and review the documentation, correspondence, presentations and so on related to AML/CFT/CPF.
• Assist in PA projects that enhance effectiveness and drive AML/CFT/CPF supervision efficiency.
• Represent the PA on internal and external forums.
• Attend meetings with the respective stakeholders as and when required

QUALIFICATIONS

Job requirements

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

• a post-graduate degree in Accounting, Auditing, Finance or Law or an equivalent qualification; and
• three to five years’ practical experience in AML/CFT/CPF compliance within the banking and/or life insurance industry.

Additional requirements include:

• knowledge of the provisions of the FIC Act;
• knowledge of international standards relating to AML/CFT/CPF (i.e. the Financial Action Task Force 40 Recommendations and the Basel Core Principles and Guidelines); 
• problem-solving and analytical skills;
• financial and business acumen;
• attention to detail;
• excellent verbal and written communication skills; 
• ability to effectively and efficiently manage time; 
• proven ability to influence, build and maintain relationships; and
• proven ability to work effectively in a team