Compliance Manager: AML & Regulations at Land Bank Careers

MAIN PURPOSE OF THE JOB

• To lead the Bank’s Anti-Money Laundering (AML) Programme function, including Financial Crime, Sanctions by providing strategic direction and focus and by establishing and promoting a compliance culture within the Land Bank Group.
• To ensure that the Bank complies with all relevant statutory, regulatory and supervisory requirements that pertain to its particular industry as well as professional standards, accepted business practices and internal standards in relation to Anti-Money Laundering and Counter Terrorist Financing.
• To ensure that the Banks corporate governance processes and internal policies are sound and embedded within the organisation in relation to Financial Crime and AML and Counter Terrorist Financing.
• To ensure that the Bank conducts its business in an ethical manner and to promote an ethical culture within the Bank thereby assisting to manage risk, maintain a positive reputation.
• Monitor transactions and conducting diligence on counterparties to detect and prevent suspicious activities
• To create awareness and educate employees and management at all levels as well as instituting practices that will ensure the highest possible level of compliance and risk.
• Participating in and supporting the Board and Board sub-committees in effective management of compliance risks.
• To be registered with the FIC as the Bank’s Money Laundering Reporting Officer and Compliance Officer and to satisfy all the regulatory duties of the Compliance Officer as prescribed by the FIC Act.
• To develop and implement a robust Financial Crime Risk Management Framework.
• To develop and Implement policies and procedures designed to deter and detect money laundering and terrorist financing.
• To implement a risk based approach for AML, including identifying potential red flags.
• To support the Credit and other transactional processes in ensuring sanctions/PEP screenings are undertaken upfront and report submitted to the various  committees up to Board for approval.
• To ensure that all independent audits of the AML program are conducted and findings/gaps reported to Head of Compliance and CRO.
• Ensure all findings and gaps identified are addressed within scheduled time lines.
• To develop relationships with our stakeholder and prepare for various inspections including participation in industry forums.

Key Performance Areas    
Governance and Compliance Oversight: Strategic Alignment :Anti-Money Laundering and Financial Crime Framework Managerial responsibilities

• Training, awareness to Assist management in becoming aware of their responsibilities relating to AML regulatory requirements.
• Independently monitoring and reporting to top management on the effectiveness of the AML Programme
• Supplies advice to management and the Board as required in adherence to compliance functions imposed by legislation and governance principles.
• Participate in the development of the broader risk management strategy as a member of the ERM function.
• Compiling and maintaining a comprehensive AML, Sanctions and Financial Crime Manual.
• Develop a comprehensive Training Program for the AML

Governance and Compliance Oversight: Regulatory reporting and Regulator and Stakeholder interaction

• Build and maintain effective regulator and stakeholder relationships (FIC and others).
• Develop and maintain professional working relationships with regulators and other stakeholders through formal and informal interactions.
• Design and Develop a plan to manage an organisation’s relationship with regulators / supervisors that have jurisdiction.
• Coordinate communication channels and liaison with regulators and supervisors.
• Participate and oversee where necessary in regulatory inspections.
• Manage and ensure all internal and external regulatory reporting requirements are adhered to.

Governance and Compliance: Assurance and Monitoring Oversight (second line of defence)

• Develop a AML/Sanctions monitoring plan and to ensure monitoring of the Banks compliance risk as well as compliance to laws, regulations and supervisory requirements.
• Create awareness and knowledge of compliance with particular focus on AML in the Bank.
• Instill the compliance culture and quality philosophy in the Bank.
• Monitor the effectiveness of compliance to codes of conduct, non-binding rules and supervisory requirements (FIC)
• Develop mechanisms for reporting and resolving non-compliance with laws, regulations and supervisory requirements.
• Inspect compliance/aml/cft/sanctions/financial crime input into drafting of policies, declarations, whistleblowing and fraud risk issues.
• Conduct timely reviews of AML/Financial framework as part of the ERM Framework and ensure it is aligned to Banks wider strategic goals.
• Governance and Compliance Oversight: Ethics Culture and Management. Establish best practice and create awareness to an ethics culture in the organisation in relation to

Financial Crime and AML

• Inspect and oversee the ethics related issues in terms of King IVin relation to Financial Crime
• Collaborate with internal and external stakeholders in addressing ethics related issues.
• Submit research and advice on best practices to detect and address unethical behaviour.
• Develop a process to monitor compliance with the complaints and ethics policies and procedures.
• Present reports to management and board on all non-compliance to code of ethics and ethics policy to relevant stakeholders.
• Identify high risk ethics areas and put forth recommendations. This relates to Financial Crime, AML, Sanctions, adverse media and reputational risk.
• Develop training and awareness ethics and lending as it relates to AML
• Train staff, management and the Board on ethics as it relates to AML
• Develop and maintain and effective Ethics programme and promoting an ethical culture within the bank.

People Management (Indirect reports)

Performance Management

• Analyse the business plan to determine the applicable deliverables and targets
• Compile the Performance Management documentation in collaboration with the staff member in terms of:

Key Performance Areas

• Personal Development Plan
• Conduct performance planning session and Track and monitor performance in accordance with performance contracts
• Conduct performance reviews in accordance with policies and procedures and take corrective actions where necessary

Financial Management

• Provide input into the departmental annual budget and allocated cost items.
• Monitor expenditure monthly and report on variances.
• Manage budget allocations and motivations for expense within area of responsibility.
• Ensures the maintenance or reduction of costs of all resources without compromising on the delivery of the departmental objectives.

Job Profile requirements

Preferred Minimum Education and Experience    

• Degree in Compliance, law, audit, risk management, Finance, Economics or similar. Post graduate qualifications in compliance management or related, have CISA accredited Compliance Practitioners. Meet the requirements of “fit and proper” as prescribed by the Compliance institute of Southern Africa. 
• Accreditation as an Anti-Money Laundering Officer, certified anti-money laundering specialist (CAMS), ACAMS membership 
• 10 years Compliance management experience
• 5-8 years AML experience

Critical Competencies    

• Microsoft Office
• Knowledge of enterprise risk management principles including financial crime
• Knowledge / Experience of compliance and AML systems / tools 
• Compliance and AML Management Principles and Processes
• Knowledge of Compliance related legislation, including all AML regulations
• Knowledge and interpretation skills of all applicable legislation to the business of the Bank and ability to communicate on advanced level.

Additional Requirements    

• Travel as and when required
• Extended hours as and when required.
• Act as second line of defense as required in the Enterprise Risk management framework and combined assurance model.