(515) Anti-Money Laundering and Counter-Financing of Terrorism Analyst -FCSD at South African Reserve Bank

Detailed description

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

• Participate in targeted on-site inspections at banks, mutual banks, life insurers, cooperative banks, banks’ subsidiaries in foreign jurisdictions and branches of foreign banks domiciled in South Africa, to test compliance with the provisions of the FIC Act with regard to anti-money laundering, counter-financing of terrorism and counter-proliferation financing (AML/CFT/CPF).
• Lead inspections targeted at banks and life insurers to assess compliance with the FIC Act and FATF standards, including travelling to banks’ subsidiaries in foreign jurisdictions.
• Manage AML/CFT inspection processes and present findings to the supervised institutions.
• Analyse and interpret data from banks and life insurers.
• Draft and review the documents, correspondence, presentations etc.
• Assist in PA projects,which enhance effectiveness and drive AML/CFT/CPF supervision efficiency.
• Attend meetings with respective stakeholders as and when required.
• Provide inputs into inspection reports and closing letters to the management of banks and life insurers.
• Undertake ad hoc projects pertaining AML/CFT/CPF work.

QUALIFICATIONS

To be considered for this position,candidates must be in possession of:

• a Post graduate degreein Law, Accounting, Auditing, or Finance  an equivalent qualification; and
• 5 to 8 years’ practical experience in AML/CFT/CPF compliance within the banking and/or life insurance industry.

Additional requirements include:

• knowledge of the provisions of the FIC Act, FIC Regulations and guidance products issued by the FIC and the PA;
• knowledge of international standardsrelating to AML/CFT/CPF (i.e. the FinancialAction Task Force 40 Recommendations and the Basel Core Principles and Guidelines);
• knowledgeof the Banks Act, the Regulations relatingto Banks and the Financial Sector Regulation Act;
• problem-solving and analytical skills;
• financial and business acumen;
• attention to detail;