(1879) Associate Analyst- AML

The successful candidate will be responsible for the following key performance areas:

• Provide administrative support to ensure smooth operations within the AML section of the division.

• Manage, organise, record and file AML inspection reports, compliance data remediation, case files and other relevant documentation.

• Prepare meeting minutes, schedule inspections and coordinate other relevant inspection activities.

• Maintain databases related to AML risk assessments and enforcement actions.

• Assist with the drafting of AML/CFT reports for senior management, regulatory bodies and other relevant stakeholders for information, statistical and decision-making purposes.

• Assist with drafting formal correspondence, such as directive letters and memorandums to NPS participants. 

• Contribute to the development, maintenance and implementation of the AML/CFT supervisory framework, encompassing Directive 1 of 2022, the Financial Intelligence Centre Act 38 of 2001 (FIC Act) and other relevant AML/CFT legislation and regulations.

• Contribute to the continuous improvement and updating of AML/CFT supervisory methods and processes.

• Identify areas of improvement and contribute to the development or amendments of relevant legislation, regulations and best-practice standards.

• Contribute to the development and maintenance of risk-based methodologies to prioritise inspections and assess AML/CFT risks.

• Contribute to the development and execution of an AML/CFT supervisory inspection programme to plan and conduct supervision activities for the section.

• Assist in planning, leading and conducting AML/CFT thematic and full-scope inspections of non-banks within the scope of the FIC Act and relevant directives. 

• Engage and collaborate with key stakeholders, including the Financial Intelligence Centre, Prudential Authority, Financial Surveillance Department and Financial Sector Conduct Authority, on AML/CFT supervisory matters.

• Assist in drafting and reviewing AML/CFT inspection reports that summarise findings and recommend corrective action. 

• Assist in collecting evidence for enforcement action purposes.

• Keep abreast of Financial Action Task Force (FATF) recommendations and global AML/CFT trends and regulatory developments.

To be considered for this position, candidates must have:

• an honours degree in commerce, economics, finance, risk management, accounting or law, or an equivalent qualification in a related field;

• an Association of Certified Anti-Money Laundering Specialists (ACAMS) credential will be an advantage;

• a minimum of two to five years’ experience in AML/CFT, including evidence of managing deliverables and leading projects, with a minimum of one to two years’ experience in the banking or financial sector; and 

• experience in the payment system environment will be an advantage.

Additional requirements include:

• willingness to travel for AML supervisory visits;
• knowledge and skill in:

• industry, business and organisational awareness;

• quality assurance;

• continuous improvement;

• continued learning/professional development;

• regulatory oversight and supervision;

• knowledge of:

• the NPS and AML; 

• financial markets, bank supervision and interpretation of financial statements;

• NPS regulation and legal framework;

• the Principles for Financial Market Infrastructures (PFMI);

• risk management, including risk frameworks;

• central banking;

• applying relevant legislation, such as the National Payment System Act 78 of 1998 and the FIC Act;  

• digital literacy;

• problem-solving and analysis;

• managing complexity and ambiguity;

• planning and organising;

• judgement and decision-making;

• resilience;

• impact and influence;

• building and maintaining relationships;

• conceptual thinking.