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Job Summary
Job Title: AML Operations Specialist Location: On-site in Claremont, Cape Town Reporting To: Head of AML Operations (shared service) Role Purpose: The AML Operations Specialist plays a crucial role within the shared services AML Operations team. This position is responsible for the first line of defense in day-to-day compliance with applicable AML/CFT/CFP regulations and the Groups Risk Management Compliance Program (RMCP) for both South Africa and offshore jurisdictions. The ideal candidate is an experienced and passionate AML professional with a comprehensive understanding of the AML legal framework in South Africa, FATF recommendations, and experience in onboarding complex clients. Key Responsibilities: Enhanced Client Due Diligence (ECDD): Conduct thorough assessments of ML/TF/PF risk for high-risk clients and prepare detailed ECDD reports with recommendations for management. Legal Entity Onboarding: Provide specialist support for legal entity onboarding, including identifying ultimate beneficial owners (UBOs) in accordance with local and international regulations. Customer Due Diligence: Perform customer due diligence and risk assessments during client onboarding and throughout the client lifecycle, ensuring compliance with RMCP. Screening and Monitoring: Execute sanctions, PEP, and adverse media screening for clients and related parties, managing daily alerts generated by screening systems. Verification and Compliance Checks: Conduct ID and address verification, as well as FATCA/CRS checks for accuracy and proper client classification. Transaction Analysis: Analyze transactions to identify suspicious or unusual activities and report findings accordingly. Regulatory Adherence: Maintain compliance with risk management and compliance program (RMCP) requirements, staying current on regulatory changes and best practices. Stakeholder Guidance: Provide guidance to business stakeholders on RMCP requirements throughout the client lifecycle. Collaboration and Projects: Work with internal teams to develop AML policies and procedures, participate in remediation projects, and address internal client queries. Performance Metrics: Ensure that service level agreements (SLAs) are met and escalate risks to the Head of AML Operations promptly. Key Relationships: Collaborates with FICA/AML Compliance, Advisors, Business Unit Leaders (BULs), BU Team Leaders, and BU Managers. Qualifications and Experience: Education: Legal or commercial degree required. Certifications: AML compliance certificate / ACAMS preferred. Experience: 1-2 years in performing enhanced customer due diligence and report preparation. 2-3 years in customer onboarding and ongoing due diligence. Knowledge: In-depth knowledge of the AML legal framework in South Africa, including the FIC Act; understanding of FATF recommendations and Guernsey AML requirements is preferable. Skills: Exceptional report-writing skills; ability to communicate complex information clearly. Strong analytical and critical thinking abilities. Attention to detail and ability to identify ML/TF/PF risks with proposed mitigating actions. Proficiency in data analysis and presentation of findings. Systems Competency: Experience with BPM onboarding systems, screening software, transaction monitoring algorithms, and proficiency in MS Office Suite (Excel, Word, PowerPoint).
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