Job Title: AML Operations Specialist

Location:

• On-site in Claremont, Cape Town

Reporting To:

• Head of AML Operations (shared service)

Role Purpose:

The AML Operations Specialist plays a crucial role within the shared services AML Operations team. This position is responsible for the first line of defense in day-to-day compliance with applicable AML/CFT/CFP regulations and the Group’s Risk Management Compliance Program (RMCP) for both South Africa and offshore jurisdictions. The ideal candidate is an experienced and passionate AML professional with a comprehensive understanding of the AML legal framework in South Africa, FATF recommendations, and experience in onboarding complex clients.

Key Responsibilities:

• Enhanced Client Due Diligence (ECDD):

  • Conduct thorough assessments of ML/TF/PF risk for high-risk clients and prepare detailed ECDD reports with recommendations for management.

• Legal Entity Onboarding:

  • Provide specialist support for legal entity onboarding, including identifying ultimate beneficial owners (UBOs) in accordance with local and international regulations.

• Customer Due Diligence:

  • Perform customer due diligence and risk assessments during client onboarding and throughout the client lifecycle, ensuring compliance with RMCP.

• Screening and Monitoring:

  • Execute sanctions, PEP, and adverse media screening for clients and related parties, managing daily alerts generated by screening systems.

• Verification and Compliance Checks:

  • Conduct ID and address verification, as well as FATCA/CRS checks for accuracy and proper client classification.

• Transaction Analysis:

  • Analyze transactions to identify suspicious or unusual activities and report findings accordingly.

• Regulatory Adherence:

  • Maintain compliance with risk management and compliance program (RMCP) requirements, staying current on regulatory changes and best practices.

• Stakeholder Guidance:

  • Provide guidance to business stakeholders on RMCP requirements throughout the client lifecycle.

• Collaboration and Projects:

  • Work with internal teams to develop AML policies and procedures, participate in remediation projects, and address internal client queries.

• Performance Metrics:

  • Ensure that service level agreements (SLAs) are met and escalate risks to the Head of AML Operations promptly.

Key Relationships:

• Collaborates with FICA/AML Compliance, Advisors, Business Unit Leaders (BULs), BU Team Leaders, and BU Managers.