Junior: AML Analyst

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

• knowledge of AML, CFT regulations and principles
• Analytical and Attention to detail
• Good knowledge and understanding of AML policies, procedures, and control arrangements in complex AML operations.
• Knowledge of financial industry products and services would be advantageous.
• Ability to understand and efficiently analyse information from multiple sources.
• Ability to work independently and meet deadlines
• Knowledge and experience of sanction screening, reporting and customer due diligence.
• Microsoft Office (Advanced Excel skills)

REQUIRED MINIMUM EDUCATION AND TRAINING

• Diploma and/or equivalent (Finance, Business, Accounting, Economics, Risk or equivalent)
• Money Laundering Control Certificate preferred

REQUIRED MINIMUM WORK EXPERIENCE

• Minimum 1 year of experience in similar role
• 1 - 3 year's experience in a financial services industry

KEY PERFORMANCE AREA (KPA)

FINANCIAL MANAGEMENT

• Assist in mitigating 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

• 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.

OPERTIONAL EXCELLENCE

• Provide input on the performance of the AML systems.
• Ensure the effective analysis and investigation of alerts and reports pertaining to possible unusual and suspicious transactions or conduct.
• Determine remedial steps required to remediate reporting errors and ensure resubmission.
• Contribute to screening hits feeding into customer risk assessment.
• Assisting with investigating 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.
• Assist in the continuous testing of 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 recommend corrective action is taken.
• Liaise with business on all relevant matters within area of responsibility.
• 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.
• Close interaction 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 route course analysis.
• Filing of Manual CTR’s as and when required.
• Submit reports, daily analysis.
• Resubmission of remediated reports within prescribed timeframe.
• Assist in the compilation of monthly AML metrics for management reporting purposes

LEARNING AND GROWTH

▪ Assist Senior Analyst with AML Compliance training content and where necessary provide AML training to Business.
▪ Take ownership for driving own career development.
▪ Achievement of objectives/milestones set out in the development plan.
▪ Broaden skills to ensure greater marketability and value within the bank.

This position is advertised in line with our commitment to Employment Equity.