Senior: AML Analyst at Bidvest Bank

PRIMARY PURPOSE

• The position involves the analysis and investigation of alerts pertaining to possible customer and payment screening matches, transaction monitoring rules and reporting requirements. The Analyst is also required to file applicable reports and recommendations regarding the management of positive matches to the Manager.
• Ensuring compliance with all AML/CFT/PF regulatory requirements including FICA i.e. KYC and the company’s internal processes; policies, procedures and regulations.

TECHNICAL COMPETENCY REQUIREMENT

•  Comprehensive knowledge of AML, CFT regulations and principles
•  Expert knowledge of key AML Principles
•  Strong Analytical abilities
•  Ability to exercise oversight, knowledge and understanding of AML policies, procedures, and control arrangements in complex AML operations.
•  Knowledge of financial industry products and services.
•  Ability to understand and efficiently analyse information from multiple sources and derive insights that identifies key AML risk exposures.
•  Ability to work independently and meet deadlines
•  In depth knowledge and experience of sanction screening, reporting and customer due diligence.
•  Microsoft Office (Advanced Excel skills)

REQUIRED MINIMUM EDUCATION AND TRAINING

•  Degree and/or NQF Equivalent in Legal or Audit or Compliance or Risk Management or Commerce
•  Money Laundering Control and/or CAMS Certificate preferred

REQUIRED MINIMUM WORK EXPERIENCE

•  Minimum 5 years of experience in similar role
•  Minimum 3 years' experience in a financial services industry

KEY PERFORMANCE AREA (KPA)

FINANCIAL MANAGEMENT

•  Ensure adequate controls are in place to mitigate risk of regulatory fines through timeous submission of reports
•  Ensure AML activities are conducted in a cost-efficient manner
•  Ensure proper analysis of client profiles in line with AML legislation

CUSTOMER CENTRICITY

•  Drive customer centricity within the bank for your respective areas
•  Ensure all queries are attended to within agreed turnaround time.
•  Analyse and assess business/customer requirements to provide timeous and fit-for-purpose solutions.
•  Build and maintain customer relationship.
•  Ensure the analysis of customer profiles is handled fairly.
•  Stay abreast of customer requirements and trends to ensure enhanced customer value proposition

OPERTIONAL EXCELLENCE

•  Regular review of quality of Bidvest bank internal AML monitoring systems.
•  Ensure the effective analysis and investigation of alerts and reports pertaining to possible unusual and suspicious transactions or conduct including quality assurance.
•  Determine remedial steps required to remediate reporting errors and ensure resubmission.
•  Ensure quality outcomes on the customer risk assessment process.
•  Conduct investigations and reporting of customers/transactions being the subject of FICA requests and subpoenas.
•  Monitoring the conduct and transactions of specified high-risk scenarios and reporting of same when required.
•  Continuously test AML system rules and enhancement thereof and communicate test results and program gaps to the Business Units, AML IT teams and the system vendor.

CULTURE AND ENGAGEMENT

•  Contribute to making the department a great place to work.
•  Promote teamwork (level of teamwork, accountability, delivery, quality & speed of information shared contribution to efficiency and effectiveness of area)
•  Make effort to forge and maintain quality inter-personal relationships.
•  Take accountability for the achievement to operational objectives within area of control and influence.
•  Support and drive the business’s core values.
•  Promote the sharing of knowledge.

COMPLIANCE MANAGEMENT

•  Ensure the Bank continues to comply with the requirements of AML and CFT legislative requirements.
•  Provide guidance to the Bank in complying with AML, CFT policy requirements.
•  Monitor the Banks compliance with KYC screening and reporting obligations.
•  Ensure reports are filed with the regulatory timeously.
•  Ensuring compliance with the FICA requirements, and the company’s internal processes; policies; procedures and regulations.

STAKEHOLDER MANAGEMENT

•  Ensure Bank objectives are communicated to all stakeholders.
•  Provide support to correspondent banking partners.
•  Identify problem areas and ensure corrective action is taken.
•  Facilitate liaison with the systems providers to ensure proper understanding of the system specifications, requirements and functions.
•  Ensure quality engagement and correspondence with various business partners.
•  Build relationship with various teams/functions in the Bank to ensure awareness of system related challenges and speedy resolution.

REPORTING

•  Extracting of reports from go AML Message Board and saving in S: drive folders for long term record keeping.
•  Daily analysis and investigating of submitted batch and manual report results as received from the FIC.
•  Investigation of all failed reports for root cause analysis.
•  Filing of Manual CTR’s as and when required.
•  Resubmission of remediated reports within prescribed timeframe.
•  Compilation of monthly AML metrics for management reporting purposes.

LEARNING AND GROWTH

•  Develop and conduct AML Compliance related training
•  Coach and deliver on the job training to junior staff.
•  Take ownership for driving own career development, as well as that of junior staff.
•  Achievement of objectives/milestones set out in the development plan.
•  Broaden skills to ensure greater marketability and value within the bank.