(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.