The Financial Intelligence Centre (FIC) exists to apply measures outlined in the Financial Intelligence Centre Act, 2001 (Act 38 of 2001), which are intended to make the financial system intolerant to abuse. The FIC does this by working towards fulfilling its mandate of assisting in identifying the proceeds of crime, combating money laundering, the financing...
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KEY PERFORMANCE AREAS:
- Assist in engaging supervisory bodies and external institutions to monitor and enhance the level of understanding of ML/TF/PF risks and compliance with FIC Act, maintain profession relationships with, and assist in giving direction to, supervisory bodies and affected institutions, providing solutions related to compliance matters, and timeously respond to public queries under supervision of the Senior Compliance Officer.
- Assist with undertaking compliance monitoring tasks and activities on compliance monitoring systems and applications in relation to the compliance universe of entities, as directed by SCO, including:
- Conducting desktop monitoring of institutions regarding registration and reporting compliance;
- Responding to public and stakeholder queries on the FIC Act compliance and ML/TF/PF risk matters within prescribed timelines;
- Drafting responses to stakeholder correspondence and drafting minutes of stakeholder meetings, within prescribed timelines and format.
- Assist in identifying compliance issues experienced and provide compliance solutions to identified issues within assigned industry sectors affected by the FIC Act.
- Develop a sound understanding of the activities of assigned regulated institutions and sectors under the FIC Act.
- Develop understanding in providing forward-thinking compliance direction and advice to regulated institutions, persons and sectors under the FIC Act.
- Assist in building and maintaining professional relationships with assigned supervisory bodies, regulated institutions and other stakeholders affected by FIC Act
- Work closely with other Programmes within the Division and FIC to deliver on all outputs.
- Assist to conduct compliance reviews of identified entities and when required also conduct compliance reviews under supervision of the SCO, within specified timelines.
- Assist to review and revise risk-based compliance research papers of existing and new industry sectors or stakeholders, including universe, scope and industry ML/TF/PF risks.
- Assist with the inspections when required, including the follow up of remedial actions.
- Assist with compliance awareness initiatives.
- Assist with conducting industry sector risk assessments.
- Adhere to administration and record management policies/procedures within the division and FIC.
EDUCATION, SKILLS AND EXPERIENCE:
- Relevant University Degree (e.g. LLB, BCom). Qualifications in anti-money laundering and or compliance management would be advantageous;
- 1-year practical compliance and/or AML experience in sectors subject to the Financial Intelligence Centre Act;
- Excellent communication skills (oral and written); and
- An intermediate level of computer literacy, including MS Word, MS Access, MS Projects; MS Excel, MS Power Point.
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KEY PERFORMANCE AREAS:
- Engage with external stakeholds, via telephone, compliance query portal and email, to ensure compliance with the FIC Act, exchange information, provide solutions and solve queries, related to standard matters;
- Provide a call centre service in accordance with the Compliance Contact Centre manual and standards;
- Administer the compliance query process in accordance with the set procedures;
- Respond to general compliance, registration and reporting related queries;
- Develop an understanding of various supervised institutions and sectors under the FIC Act;
- Identify problems and issues experienced within industry sectors affected by the FIC Act;
- Assist with registrations on goAML including regierstration data cleansing activities.
EDUCATION, SKILLS AND EXPERIENCE:
- Matric
- Qualifications in anti-money laundering and or compliance management would be advantageous.
- One-year call centre experience and exposure essential, preferably in a regulatory function;Excellent English communication skills (oral and written);
- An intermediate level of computer literacy, including MS Word and MS Excel.
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KEY PERFORMANCE AREAS
- Analyse, interpret, summarise, and present financial information and relevant data, ensuring clarity and accuracy in documentation under guidance.
- Support the identification and investigation of patterns and connections within financial data, aiding in the detection of potential irregularities or criminal activities.
- Collaborate with senior team members to verbalise key findings and contribute insights to relevant forums, fostering effective communication and decision-making processes.
- Determine relevance and completeness of information or evidence and identify gaps under guidance.
- Perform various calculations including income and losses; transaction summaries; tracing of source and destination of funds, tracing of assets; performing present value calculations utilising appropriate rates.
- Utilise computerised applications such as a spreadsheet, database or computer model and utilise charts and graphics to explain findings.
- Investigate and contextualise financial information / evidence in support of law enforcement efforts by capturing findings and conclusions in the required reporting format and systems and submit investigation outcomes, trends and recommendations as prescribed by relevant policies and procedure.
- Conduct analysis within acceptable quality norms required under guidance.
- Facilitate the handing over of intelligence / evidence to designated authorities under guidance.
- Assist in legal proceedings, including testifying in court for less complex matters regarding forensic report findings and prepare visual aids to substantiate findings.
- Plan and manage personal outputs with limited supervision and interact with team members.
- Execute tasks expeditiously and within set action plans and time frames.
- Compile reports and case studies for training purposes and benchmarking for review by the senior team.
EDUCATION, SKILLS AND EXPERIENCE
- Degree in BCom accounting or forensic accounting or B Compt
- At least one years' experience in a forensic accounting field
- Working experience in one of the following industries is preferable:
- Consulting in fraud risk assessments, internal investigations, anti-money laundering compliance projects, data analysis and internal auditing, detecting and preventing financial crimes.
- Forensic services including forensic accounting, litigation support, and forensic investigation procedures, financial crimes, facilitates collaboration with legal teams during investigations and court proceedings.
- Financial services in banking, investment, or insurance sectors.
- Comprehensive grasp of laws, regulations, and legal precedents pertaining to evidence.
- Knowledge of accounting and auditing standards, facilitating proficient financial investigations.
- Working knowledge in utilizing a diverse range of investigative techniques to gather vital information.
- Familiarity with principles and methodologies of forensic investigations across different contexts.
- Understanding of pertinent legislation, encompassing Criminal Law, Criminal Procedure Law of Evidence, and associated statutes.
- Possess a sound understanding of the legal framework within the public sector, including the Public Finance Management Act (PFMA), Municipal Finance Management Act (MFMA), Treasury Regulations, and other relevant Treasury Directives will be preferable.
- Required experience in the collection, application, and use of relevant information to substantiate deductions and findings will be an advantage.
- Working knowledge of data analysis applications, tools, and systems.
- Knowledge and experience using the Microsoft office suite and Excel is a prerequisite.
- Anti-Money laundering training will be an added advantageous.
- Analytical, investigative, and problem-solving skills.
- Reporting and presentation skills
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KEY PERFORMANCE AREAS
Litigation Support and Guidance
- Lead and provide expert guidance on litigation support for multi-agency initiatives, such as the Shared Forensic Capability, to facilitate the production of forensic evidence for complex financial crime investigations, aimed at recovering the proceeds of crime and combating money laundering and terrorism financing.
- Offer strategic legal advice during operations related to the prosecution of complex financial crime and the recovery of criminal proceeds, ensuring compliance with the Financial Intelligence Centre (FIC) Act and other relevant legislation.
- Draft, review, and guide legal documentation, including Section 34 freezing orders under the FIC Act, affidavits, and forensic reports, particularly for high-priority matters, ensuring accuracy and legal soundness.
Development and Oversight of Agreements
- Develop, implement, and regularly review domestic Memorandums of Understanding (MoUs), related to the work of Shared Forensic Capability Division, to enhance cooperation with various agencies in financial crime investigations.
- Forensic Reporting and Legal Documentation
- Draft, review, and guide the preparation of forensic reports and affidavits, ensuring they meet legal requirements and support the objectives of law enforcement agencies in financial crime investigations.
- Ensure that all legal documents and reports are prepared with a high level of precision and meet the standards required for successful litigation and recovery processes.
Training and Capacity Building
- Provide specialized training to FIC staff on legal aspects related to financial crime investigations, including asset forfeiture under the Prevention of Organised Crime Act
Litigation Support and Guidance
- Lead and provide expert guidance on litigation support for multi-agency initiatives, such as the Shared Forensic Capability, to facilitate the production of forensic evidence for complex financial crime investigations, aimed at recovering the proceeds of crime and combating money laundering and terrorism financing.
- Offer strategic legal advice during operations related to the prosecution of complex financial crime and the recovery of criminal proceeds, ensuring compliance with the Financial Intelligence Centre (FIC) Act and other relevant legislation.
- Draft, review, and guide legal documentation, including Section 34 freezing orders under the FIC Act, affidavits, and forensic reports, particularly for high-priority matters, ensuring accuracy and legal soundness.
Development and Oversight of Agreements
- Develop, implement, and regularly review domestic Memorandums of Understanding (MoUs), related to the work of Shared Forensic Capability Division, to enhance cooperation with various agencies in financial crime investigations.
Forensic Reporting and Legal Documentation
- Draft, review, and guide the preparation of forensic reports and affidavits, ensuring they meet legal requirements and support the objectives of law enforcement agencies in financial crime investigations.
- Ensure that all legal documents and reports are prepared with a high level of precision and meet the standards required for successful litigation and recovery processes.
Training and Capacity Building
- Provide specialized training to FIC staff on legal aspects related to financial crime investigations, including asset forfeiture under the Prevention of Organised Crime Act (POCA), rules of evidence, legal writing, and the drafting of forensic reports and cash flow affidavits.
- Develop and deliver training programs related to asset forfeiture proceedings, rules of evidence, and drafting of legal documents, enhancing the legal knowledge and skills of staff members involved in financial crime investigations.
Governance and Risk Management
- Manage governance aspects related to litigation and the recovery of the proceeds of crime, including identifying, assessing, and mitigating risks associated with legal processes in combating money laundering and terrorism financing.
- Ensure that all legal activities are conducted with a high level of integrity and in compliance with relevant regulations and internal policies, minimizing risks and enhancing the FIC’s ability to support law enforcement effectively.
Legal Advice and Compliance
- Provide ongoing legal advice on the implementation of the FIC Act and related legislation during forensic services in financial crime investigations, ensuring that all activities are compliant with the law and effectively support law enforcement objectives.
- Stay abreast of changes in legislation and legal practices related to financial crimes, adapting strategies and providing guidance to ensure ongoing compliance and effective legal support.
EDUCATION, SKILLS AND EXPERIENCE
- Degree or postgraduate degree in Law.
- Admitted Attorney or Advocate
- Postgraduate qualifications in anti-money laundering, criminology, forensic science, forensic investigation technology, accounting, law, auditing, or cyber forensics are preferred.
- Ten or more years of relevant experience in a range of specialized areas such as prosecution, forensic auditing, compliance, enforcement, or information systems, including at least three years of proven experience in management or leading teams.
- Experience in criminal law and a law enforcement environment is required.
- Knowledge of the FIC Act, international standards, and other relevant legislation is essential.
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KEY PERFORMANCE AREAS
Project Initiation and Business Case Development
- Structure the business case for identified project concepts, including a thorough cost/benefit analysis to justify the need for forensic investigations and resource allocation.
- Develop a project charter that outlines the objectives, scope, and deliverables of the project, establishing a high-level roadmap aligned with the FIC's strategic vision and the requirements of law enforcement agencies.
Project Planning and Methodology Application
- Create a detailed project plan using approved FIC project management methodologies and processes, ensuring all tasks, timelines, and resources are clearly defined.
- Apply FIC’s project and business analysis methodologies to ensure the project aligns with organisational standards and effectively supports law enforcement investigations.
Project Execution and Performance Management
- Actively manage all components and work streams of the project, driving performance and addressing any project quality or design issues that arise.
- Manage project constraints such as time, budget, and scope to ensure quality forensic evidence is delivered on time and within budget.
- Integrate various design components, including process, people, and technology dimensions, to support the effective gathering and analysis of forensic evidence.
Stakeholder Engagement and Governance
- Empower project stakeholders, including law enforcement agencies, through regular updates and feedback, enabling informed decision-making at the Steering Committee level.
- Serve as the single point of contact for all project-related issues, governance, and risk escalation, ensuring timely communication and consideration of alternative project options.
- Engage with multiple and diverse stakeholders to manage expectations and ensure the project is delivered successfully, providing vital support to law enforcement agencies.
Monitoring, Reporting, and Risk Management
- Monitor, control, and communicate project progress using standard reporting formats, including status reports, to keep stakeholders informed.
- Establish mechanisms to assess the realisation of benefits committed to in the business case, ensuring that forensic evidence meets the needs of law enforcement agencies.
- Continuously monitor project risks and develop prevention and mitigation strategies to address any challenges that may impact the delivery of forensic evidence.
Resource Management and Quality Assurance
- Ensure efficient management of project resources, including internal teams and external service providers, to maintain project momentum and achieve high-quality outcomes.
- Oversee project teams, review deliverables, and ensure quality assurance of all outputs related to the collection and analysis of forensic evidence.
- Recommend project/program governance structures and PMO standards/methodology to ensure consistent and effective project management practices.
Project Close-Out and Continuous Improvement
- Perform project close-out activities, ensuring all deliverables are completed, and the project objectives are met.
- Ensure all aspects of the project, including project management, change management, system development life cycle, and business analysis, are managed transparently and effectively.
- Provide feedback and recommendations for future projects based on lessons learned, contributing to the continuous improvement of the FIC’s project management practices.
- Allocate work to others and assessing quality of output provided
EDUCATION, SKILLS AND EXPERIENCE
- An undergrade University Degree preferably in Computer Science, Engineering or Commerce is essential. Other Undergraduate Degrees will only be considered if relevance can be demonstrated.
- Project Management Professional Certification is preferable.
- Minimum six (6) years of broad-based information systems and business experience
- Minimum six (6) years of project management experience
- Minimum six (6) years of demonstrated management/supervisory experience in project managing complex financial crime investigations and prosecutions
- Business analysis experience desirable
- Strong PC skills including Microsoft Project, Microsoft Excel, Microsoft Word
- Ability to organise, delegate and leverage resources to accomplish objectives
- Excellent time management skills.
- Management skills including financial and accounting operations management and program/project management skills and experience.
- Professional development skills such as oral and written communications, personal credibility, teamwork and collaboration, work planning, and estimating.
- Strategic skills such as business diagnosis and assessment, business case development
- Ability to leverage support from other parts of the organisation.
- Manage relationships with law enforcement agencies. Monitor their progress and adherence to the contract.
- Ensure that the project team follows all quality assurance processes, including periodic reviews and transitions.
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MANAGEMENT COMPETENCIES
Delivery and Success
- Effectively manage specialised forensic accounting teams, ensuring the delivery of complex, timely, and high-quality financial forensic products within the scope of discretion, policy, procedures, and legislative powers.
- Serve as a technical reference, mentor, and role model for the team, fostering professional growth and expertise in forensic accounting.
- Collaborate with other division within the FIC, government agencies, and relevant stakeholders to access necessary information, leveraging experience and skills to secure cooperation and persuade others as needed.
- Work closely with senior members of government departments and agencies to produce accurate and comprehensive forensic accounting outputs.
- Advise senior management on regulatory, legislative, and financial intelligence challenges, offering solutions to support effective decision-making.
- Conduct technical presentations to informed audiences, clearly communicating complex forensic accounting findings and methodologies.
- Represent the FIC at designated working groups, meetings, conferences, and seminars, contributing to informed decision-making and policy development.
- Develop and execute delivery plans aligned with policy, precedent, and standards, ensuring objectives are met and achievements are reported as required.
- Continuously focus on delivery according to predefined plans, making necessary adjustments to improve performance and reduce risk.
- Anticipate and resolve problems proactively to ensure targets are met within agreed deadlines and quality standards.
People Management
- Lead and manage forensic accounting project teams, using judgment and experience to provide prompt, independent solutions for complex investigative needs while exercising appropriate risk management.
- Manage workflows and plans, ensuring clarity around accountabilities and objectives within the forensic accounting function.
- Set clear function and area objectives, ensuring they are well-known, achievable, and aligned with the overall goals of the FIC and law enforcement agencies.
- Ensure objectives are met by prioritising activities, allocating work, and optimising resources and individual performance to achieve the highest output and quality.
- Foster a collaborative and committed environment among subordinates, encouraging teamwork and full commitment to achieving set goals.
- Actively manage team performance, providing feedback and development opportunities to enhance effectiveness and efficiency.
Planning and Organising
- Plan and report on the forensic accounting unit’s outputs, identifying potential deviations and challenges, and developing and implementing alternative plans to address them.
- Develop and align the forensic accounting unit’s quarterly plans with the area’s annual plans, ensuring consistency and strategic alignment.
- Report on work plan achievements, focusing on meeting quantity, quality, and time targets.
Resources Management
- Manage allocated resources effectively to ensure efficient delivery of forensic accounting services and support to law enforcement agencies.
- Recommend resources and budgetary requirements for annual planning, aligning with the FIC’s strategic objectives and operational needs.
- Control costs through effective management of key business processes and operational variables, optimising the use of resources.
- Operationalise plans and deploy resources to meet clearly defined objectives over a bi-annual horizon, ensuring resource optimisation and cost control.
- Report on the utilisation and effectiveness of the FIC’s financial intelligence products, ensuring they meet the needs of law enforcement agencies and contribute to successful outcomes in financial crime investigations.
Governance, Risk management, Compliance
- Ensure compliance with code of conduct, policies. procedures and legislative requirements
- Provides input into budget for the division and organizational policies
- Contribute to the development and maintenance of divisional and organizational policies
EDUCATION, SKILLS AND EXPERIENCE
- Degree (subjects like Criminology, Forensic Accounting, Forensic Investigation Technology, Accounting, Law, Auditing, and Cyber Forensics are highly recommended)
- Minimum of 10 years relevant experience forensic accounting services, analysis, investigation, law and law enforcement) is a prerequisite.
- Anti-money laundering training or practical experience in the field of combating the proceeds of crime is a prerequisite.
- Applied advanced knowledge of the Constitution / Criminal Procedure Act/ the intelligence cycle / the POCA and FIC Act as well as the law of evidence.
- Display and apply advanced knowledge and experience of working with the domestic financial regulatory framework.
- Sound knowledge and experience using the Microsoft Office suit and Excel.
- Management experience will be an advantage.
Method of Application
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