Anti-Money Laundering Analyst

Who are we?

The Sanlam Retail Affluent business (SRA) is dedicated to empower South Africans in the middle- and upper-income segments to be financially confident, secure and prosperous. With deep client understanding and a focus on excellence in technology, client and intermediary experiences, SRA delivers financial solutions including comprehensive financial planning, life- and disability insurance, credit solutions, savings and investments, retirement and fiduciary services that can be accessed through various platforms.

Job Purpose

The primary purpose of the Anti-Money Laundering Analyst is to develop the capability to address party due diligence in a manner that will enable the business to meet the requirements of AML/CFT standards, and other regulatory requirements that expressly or implicitly require such due diligence prior to transacting and during the course of the business relationship.

Key Outcomes

The following outcomes will be expected to be achieved by the Anti-Money Laundering Analyst:

• Conducting Enhanced Due Diligence on high-risk clients
• Refer cases to senior management for approval 
• Ongoing monitoring of high-risk clients
• Review of alerts generated by screening tool case management system
• Compare similarity of customer data against potential sanctions and other watch list matches
• Investigate source of funds for medium-risk clients
• Suspicious and unusual transactions and activity reporting to Anti-Money Laundering Reporting Officer timeously
• Determine final status of true match or false positive based on Sanlam Group standardised elimination criteria with a supporting rationale conforming to standard required for audit
• Perform review of previous work done by other Analysts (Level 1) on same alert and either confirm that their findings are in accordance with yours or reject the alert due to conflicting findings
• Release all pending alerts from AML Transactional Monitoring Tool 
• Clear all alerts from the ongoing due diligence
• Review Section 27 Requests
• Assist with Regulatory Reporting (Monthly AML Reporting to MANCO, Quarterly AML Reporting to Sanlam Group and Bi-annual AML Reporting to the Prudential Authority) 
• Assist with providing training and awareness session to the relevant departments and assist with the development of the AML training material;
• Performs other related duties as assigned 
  

Qualifications and Experience

• Relevant Tertiary qualification 
• Anti-Money Laundering qualification to your advantage
• At least 4-5 years’ experience within a similar role within the financial services industry is essential
• Computer literacy skills (MS Excel intermediate level)
• Prior Enhanced Due Diligence experience which includes but not limited analysing high-risk clients and high-risk transactions 
  

Competencies

• Client focus
• Cultivates innovation
• Collaborates
• Being resilient
• Drive results
• Attention to detail
• Managing workload
• Information gathering and monitoring
• Analytical thinking and Problem Solving 
  

Attributes

• Positive, enthusiastic attitude 
• Ability to thrive under pressure
• Honesty, integrity and respect
• Teamwork
• Ability to work independently

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping  our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Turnaround time

Please submit your application via MyWorkSpace by 27 May 2024.

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. 

Our commitment to transformation

Glacier is committed to excellence and striving towards Employment Equity. 

The Sanlam Group is committed to achieving transformation and embraces diversity.  This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa.  The Group's Employment Equity plan and targets will be considered as part of the selection process.