Regulatory Monitoring : RBB Ops at Nedbank

Job Description

• To analyse and monitor regulatory risk indicators associated with money laundering; terrorist financing and sanctions compliance to ensure risks to Nedbank Group are mitigated.

Job Responsibilities

• Ensure compliance to regulatory requirements, improved business results and client service by identifying the likelihood and probability of being imposed with a regulatory risk penalty, criminal liability and/or administrative sanction, through analysing and monitoring risk indicators and advising stakeholders accordingly.
• Analyse, monitor and track regulatory risk indicators by highlighting  possible risks and ensuring reporting takes place within regulatory required timelines.
• Build and maintain collaborative relationships and ensure smooth flow of work and alignment of regulatory requirements as set by South African Reserve Bank (SARB) and Financial Intelligence Centre (FIC) by interacting with Heads of Governance and Compliance, through engagement at meetings.
• Obtain buy-in for implementation of proposed continuous improvement changes and initiatives by engaging with Heads of Governance and Compliance during meetings.
• Mitigate risk, maintain collaborative relationships and meet expectations and needs of clients by providing professional, objective input and creating awareness to stakeholders on relevant alerts and actions to be implemented.
• Analyse and review information to ensure accuracy of information and correct processes followed by obtaining statistical and transactional data from relevant systems, reports and data from subsidiaries and stakeholders.
• Identify relevant breached thresholds as to identify potential risks and trends and ensure compliance standards are adhered to by downloading, preparing, sorting, interrogating and interpreting information and data.
• Communicate identified risks, trends and corrective actions to be taken by relevant stakeholders through reports, governance forums/structures and meetings.
• Follow up on identified risks and corrective action to be taken by stakeholders within specified timeframe through meetings and/or electronic medium.
• Provide an oversight of risk indicators by reviewing reports submitted by stakeholders to governance forums and structures.
• Provide input into new reports or enhancements to existing reports through gaps identified during analysis of risk indicators.
• Understand and embrace the Nedbank vision and demonstrate the values through interaction with team and stakeholders, to achieve goals and objectives.
• Improve personal capability and stay abreast of developments in field of expertise by identifying training courses and career progression opportunities for self with input from management.
• Support personal growth and enable effectiveness in performance of roles and responsibilities by ensuring all learning activities are completed, experience gained and certifications obtained within specified time frames.
• Ensure up skilling takes place and effective handover to relevant responsible person for actioning by providing input into training sessions and/or sharing knowledge of trends and identified risks with team and stakeholders during formal and informal interactions.
• Obtain buy-in for developing new and/or enhanced reports that will improve reporting of risk indicators and/or proposed corrective action to be taken by business by highlighting benefits and associated regulatory risks, and by gaining support for ideas and initiatives.
• Identify opportunities to improve or enhance business processes and methodologies by researching, developing, implementing and recommending improvement initiatives and effective ways to operate and add value to Nedbank.

Essential Qualifications - NQF Level

• Advanced Diplomas/National 1st Degrees

Minimum Experience Level

• 2 years experience in analysing and monitoring risk indicators in Anti-Money Laundering (AML), Counter Terrorist Financing, Sanctions Compliance in a banking environment or similar

Behavioural Competencies

• Applied Learning
• Communication
• Initiating Action
• Building partnerships
• Managing Work
• Quality Orientation

Technical / Professional Knowledge

• Business Acumen
• Data analysis
• Ethics and Fraud
• Industry trends
• Microsoft Office
• Nedbank policies and procedures
• Nedbank systems
• Nedbank vision and strategy
• Relevant regulatory knowledge
• Business writing skills