Sanctions Officer - Head Office - Durban at Al Baraka Bank South Africa

MAIN FUNCTIONS OF THE JOB

Sanction Screening

• Maintain an effective sanctions screening process
• Updates watchlists as and when required
• Maintains custom watch lists
• Provides guidance on bank’s sanctioned countries and high risk jurisdictions in line with the bank’s risk framework and enhanced due diligence requirements
• Assists with monitoring legislative/ best practice requirements that impact sanctions/ sanctions screening
• Assists in the preparation of memos to staff and communication to management/ staff on areas of sanctions/ sanctions screening.
• Prepares and conducts presentations to staff and regulators on sanctions screening
• Assists with drafting and maintaining Sanctions Screening policy and procedure documents
• Assists in submitting returns and reports to Regulators when required
• Assists with reports to EXCO and FICA EXCO regarding true positive alerts for clients already on the customer database e.g. PEPS, adverse media, SAFPS etc.
• Provides support to the AML Officer by assisting with AML Officer duties in the absence of the AML Officer and on alternate Saturdays
• Monitors for non-compliance and maintains records of non-compliance for auditing purposes
• Undertakes special projects when required

 Training

• Assist with the development of training material relating to sanction screening
• Assists the AML Supervisor and AML Officer to train staff and management on the watchlist screening system /sanction screening
• Conducts intensive training to users on the sanction screening system

Second in charge to MLCO

• Analyses alerts on the transaction monitoring system (SAS AML) and conducting investigations of suspicious activities
• Monitors non-compliance of FICA through exception reports (when required) , queryi with the branches and follows up
• Assists the branch with enquiries
• Reports on STRs, CTRs, TPRs, IFTRs, as and when required
• Prepares FICA packs for FICA EXCO meetings, takes minutes and makes enquires etc.

Requirements

QUALIFICATIONS

• A tertiary related qualification in Anti Money Laundering /Counter Terrorist Financing /Sanctions is required.

EXPERIENCE

• A minimum of 3 years administrative and/or banking experience is preferred
• Experience with a sanction screening system is an advantage 

KNOWLEDGE

• Microsoft Office
• Knowledge of the bank’s systems
• Knowledge of sanction screening systems eg. Lexis Nexis
• Knowledge of bank’s policies and procedures
• Knowledge of AML/CTF/ Sanctions