Director: Financial Intelligence Centre at National Treasury

Purpose of the Role

• The Minister of Finance invites applications for the position of Director of the Financial Intelligence Centre (FIC). The FIC is South Africa’s national agency for the gathering and analysis of financial data in accordance with the FIC Act.
• The FIC contributes to safeguarding the integrity of South Africa’s financial system, and in so doing the FIC makes high quality financial intelligence products available to law enforcement authorities, the South African Revenue Service, the intelligence agencies and other authorities pursuing investigations.
• The FIC oversees compliance by a range of businesses through strong relationships with various supervisory bodies and where necessary its own direct compliance and enforcement actions.
• The FIC works closely with the global anti-money laundering body, the Financial Action Task Force (FATF), to facilitate a co-ordinated global response to prevent and fight money laundering, terror financing and other financial crimes, corruption and terrorism, including by sharing information and cooperating with other financial intelligence units in other jurisdictions.

The successful candidate will be required to: 

• Ensure the performance and functioning of the FIC in accordance with the FIC Act and other relevant legislation and regulations;
• Work with financial institutions, financial sector regulators and criminal justice authorities; and
• Apprise the Minister of Finance on the performance of the FIC, its strategic direction and implementation of government obligations in terms of the FIC Act, other relevant legislation and international standards on fighting money laundering, terror financing and other financial crimes.

Qualification/s Requirements

• A relevant postgraduate degree (NQF Level 8) in Economics, Banking, Auditing, Commerce, Law, Data or Forensic Analytics or related qualification recognised by SAQA;
• 10 years senior management experience, of which 5 years must be at an executive level;
• Sound knowledge and understanding on the following:
• The role, purpose and functioning of financial intelligence units or related units;
• FIC Act and its Regulations and related legislation;
• Experience working in or with banks and other financial institutions to monitor financial transactions;
• Methods and approaches to identifying the proceeds of crime, combat money laundering, terrorist financing, the financing of weapons of mass destruction and related matters;
• A deep understanding of the financial sector and the role, purpose and functioning of a financial sector regulator, and one that regulates Anti-Money Laundering/ Combating of the Financing of Terrorism (AML/CFT) in particular;
• Financial analysis experience and the use of big data;
• Cybercrime and recent developments therein;
• Law enforcement and security interests and the wider environment within which the FIC functions; and
• Government policies and legislation.

Key Performance Areas

Some key outputs include: 

• Develop, implement and manage the strategic direction and planning of the FIC, including in relation to government priorities and objectives;
• Oversee the efficient development and planning of the budget of the FIC, its annual audit and its annual report to Parliament;
• Provide strategic & policy direction for AML/ CFT and related matters;
• Provide feedback and direction for the South African legislative framework in order to ensure implementation of new policies and measures to develop a coherent and effective AML/CFT environment in South Africa and in relation to other countries;
• Oversee and facilitate policy integration and alignment between all stakeholders to enable effective co-operation;
• Establish, develop and maintain effective relationships with all stakeholders – parliamentary, governmental, supervisory bodies, accountable institutions and relevant international bodies;
• Represent the FIC globally at the Egmont Group of financial intelligence units to enhance cooperation and information exchange between FIUs and participate in its programmes;
• Participate in international standards-setting bodies like the FATF and its regional affiliate, the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), and engage with other international and domestic organisations relating to the criminal justice investigations and prosecutions;
• Oversee the development, implementation and maintenance of systems & processes to support the objectives of the FIC • Embed sound governance practices and ensure delivery of the strategic and operational objectives;
• Oversee processes of people management and technology systems and development thereof; and
• Develop key working relationships with all stakeholders, such as representatives of accountable institutions (as listed in Schedule 1 of the Financial Intelligence Centre Act, 2001) and relevant industry sectors, supervisory bodies (as listed in Schedule 2 of the Act), law enforcement agencies, and relevant government departments and agencies.