Head: AML, CFT, Sanctions, Proliferation Finance & Excon Monitoring at Nedbank

Job Purpose

• To manage, analyse, and monitor and report on regulatory, international best practice and reputational risk indicators, trends, typologies, controls and systems, associated with money laundering, terrorist financing, sanctions, proliferation finance, reputational and exchange control risk management and compliance, to ensure regulatory and reputational risks to Nedbank Group are mitigated.

Job Responsibilities

• Manage the likelihood and probability of being imposed with a regulatory risk penalty, criminal liability, FATF grey or blacklisting and/or administrative sanction, through the analyses and monitoring of risk indicators and controls and advise stakeholders
• Ensure the analysis, monitoring and tracking of regulatory risk indicators and controls by providing guidance in highlighting possible risks and ensuring regulatory obligations are met 
• Provide clarity to stakeholders on analysis of risk indicators results and controls related to regulatory requirements and international best practice and advise stakeholders on appropriate outcomes
• Representing the Chief AML, CFT and Sanctions Officer on items related to monitoring and analysis of AML, CFT and Sanctions risk management at relevant governance forums, structures, meetings, engagements & regulatory interactions where required
• Manage the obtaining of statistical and transactional data from relevant systems, reports and data from subsidiaries and stakeholders to monitor the analyses and review of information to ensure accuracy of information and correct processes are followed
• Review internal controls and documentation for quality assurance and ensure corrective action is taken
• Ensure the analysis and accurate identification of risks and gaps to mitigate risks associated with money laundering, terrorist financing, sanctions and exchange control
• Monitor and ensure oversight of risk indicators and controls, feedback and corrective action implemented by reviewing reports through stakeholder engagement and tabled through applicable governance forums and structures.
• Review input into new reports or enhancements to existing reports through gaps identified during analysis of risk indicators and/or controls to ensure risks are exposed and mitigated.
• Ensure the downloading, preparation, sorting, interrogation and interpretation of information and data to identify relevant breached thresholds or intelligence, as to identify potential risks and trends and ensure effective risk management and compliance standards are adhered to.
• Interact with internal and external stakeholders, to build and maintain collaborative relationships and ensure smooth flow of work and alignment of regulatory requirements as set out by South African Reserve Bank (SARB) and Financial Intelligence Centre (FIC)
• Identify training courses and career progression for self and direct reports to improve personal capabilities and to stay abreast of developments in field of expertise
• Ensure all personal development plan activities for self and direct reports are completed to enable effectiveness in performance of roles and responsibilities. 
• Ensure self and team share knowledge of identified risks, in respect of best practice and regulatory risk requirements with stakeholders, during formal and informal interaction, so that relevant upskilling takes place
• Manage reputational risk in terms of clients that are to be terminated due to or maintained with: material reputational risk due to adverse issues (news, transaction analysis, etc) the Nedbank relationship directly, indirectly or through association with the client or their related parties.  This will include liaising with legal advisors (internal and external), managing cross cluster impacts, preparation of presentations to the CIB (and in some case other clusters) High and Reputational Risk Committee (HRRC), Group Reputational Risk Committee (GRRC) and Directors Affairs Committee (DAC)

 
Preferred Qualification

• Bachelor of Commerce Honours:  Accounting and Law

Minimum Experience Level

• 7-10 years’ experience in Exchange Control and foreign exchange.

Technical / Professional Knowledge

• Change management
• Client service principles
• Diversity management
• Financial Accounting Principles
• Governance, Risk and Controls
• Money laundering
• Negotiation techniques
• Operations planning
• Principles of project management
• Relevant regulatory knowledge
• Resource allocation principles

Behavioural Competencies

• Adaptability
• Building Partnerships
• Execution
• Operational Decision Making
• Strategic Planning
• Business Acumen
• Stress Tolerance