Anti Money Laundering (AML) Specialist

1. Key Performance Areas (Objectives) and Performance Requirements

 

 

Main Purpose of the Job:

PHR Code:

To assist the AML Officer and the Chief Compliance Officer in ensuring that all AML/CFT/CPF reporting requirements are timeously done in accordance with regulatory timelines. To provide support to the AML officer by ensuring continuous self-development in AML trends and typologies and by assisting the AML officer to advise and provide training to staff where necessary.

 

1

PHR Code:                              Key Performance Area (Objective): Weight: 35%

To assist the AML Officer and Chief Compliance Officer to implement the FIC Act.

KPI Code (PHR):

Key Performance Indicators for this KPA

1

Risk Management and Compliance Programme (RMCP)

·        To assist the AML Officer and Chief Compliance Officer to formulate the Risk Management and Compliance Programme as per S42 of the Act by conducting the following tasks:

o   Formulating step by step AML/CFT/CPF Procedures

2

Risk Based Approach

To assist the AML Officer and Chief Compliance Officer to identify, document and monitor the following:

·        Conduct analysis of static data for the risk calculator;

·        Assist in the implementation of the risk calculator and risk assessment procedural manual

·        Collation of information to complete the institutional ML/TF/PF risk assessment on an annual basis

3

Prudential Authority – Risk Returns

·        Collation of information and completion of the ML/TF/PF risk return on a quarterly basis and timeous submission to the PA via the Umoja Portal

4

KYC

To assist the AML Officer and Chief Compliance Officer in conducting and implementing the following tasks:

 

·        Provide guidance to the frontline departments on all KYC related requests

·        Participate in the KYC working group discussions to address any processes that are not being adhered to (in accordance to the CDD Standards and RMCP)

4

Secretary of the AML Forum

To perform the duties of the secretary of the AML Forum with responsibilities per the AML forum Terms of Reference (ToR):

 

·        Arranging Forum meetings at Chair or Deputy Chair person’s request

·        Preparing the meeting agenda with input from the Chair and Deputy Chair

·        Distribution of information / documents  to the Forum (which must be password protected) to all members at least 1 business day in advance

·        Tracking all matters arising from meetings (if any)

·        Taking, and distributing meeting minutes (where applicable)

·        Submission of matters for approval or noting to the AML Forum members via email, for a round robin decision making in accordance with the AML Forum ToR

·        Submission of all matters for approval to RCICC in accordance with the branch’s RMCP.

 

 

 

 

2

PHR Code:                              Key Performance Area (Objective): Weight: 50 %

To monitor and conduct:

·        Name, Payment and Vessel Screening

·        SironAML – Transaction Monitoring

To conduct Enhanced Due Diligence (EDD)

KPI Code (PHR):

 

1

Name, Payment and Vessel Screening

 

To be responsible for:

·        Level 2 review and sign off of all payments alerted on NGS payments screening system as a result of a match against the sanctions list.

·        Investigation, review and sign off on all manual vessel screening and payments conducted by the AML Specialist

·        Level 2 review and sign off on all name screening hits identified through NGS name screening system. Ensuring that all positive matches are investigated and has a relevant impact on the client’s risk rating.

·        To ensure that all payments that alert on the NGS payments screening system are investigated and cleared from the queue timeously.

·        To ensure that all name screening hits are investigated and signed off within 5 business days

2

SironAML – Transaction Monitoring

 

To be responsible for:

·        Ensuring all cases are attended to within 48 hours of the generation date with a view to determine whether a report should be submitted to the FIC. Ensure that all generated alerts investigations are completed and signed off within 15 business days from date of alert.

·        Ensuring that any STRs identified  are reported to the FIC within 15 business days

·        Conduct on-going, but at least annual, assessment based on client historical behaviour and applicable typologies, tuning the rules to reduce false positive alerts and amendments to a rule where it has been identified that alerts have been generated in error.

 

3

KYC System

To be responsible for:

·        Level 2 review and sign off of all name screening hits identified through the NGS KYC System. Ensuring that all positive matches are investigated to assess the impact on the client’s risk rating.

·        Review and approval of the risk rating of clients who have been rated as medium high or high risk.

4

Prospective Client, New Employee & Vendor Screening

To assist the AML Officer to:

·        Conduct pre-screening of all prospective clients and vendors.

·        Conduct world-check screening for all new employees (upon request from HR)

·        Complete an enhanced due diligence where a prospective client has been identified as medium high risk for presentation to AML Forum for approval of the business relationship.

5

Enhanced Due Diligence (EDD)

·        Conduct EDD on all clients identified as high risk every 6 months

·        Conduct EDD on all clients identified as medium high risk on an annual basis

·        Ensure that all required sign offs on the KYC system is obtained once the EDD is completed

·        Review and update the EDD registers timeously.

6

GoAML (Section 27, 32 and 34 Requests from the FIC)

·        Check the inbox on GoAML on a daily basis

·        Section 27 – Conduct checks on all requests from the FIC, complete the template and respond within 48hrs.

·        Section 32 – Provide the FIC with additional information requested within 48 hrs

·        Section 34 – Inform the AML Officer on all freeze orders sent by the FIC and ensure this is actioned immediately.

7

CTR

·        To review the email confirmation submitted daily by the Operations Management Department (Ops) indicating whether there has been any cash transactions identified.

·        To ensure all email communication received from the Ops team is saved on the R Drive

·        Where a cash transaction has been identified, to ensure the reporting (where applicable) is completed timeously.

8

IFTR

·        To ensure, on a daily basis, all reportable cross-border transactions are reviewed and submitted successfully to the FIC via the GoAML system

9

Non-Disclosure Agreements (NDA) and Guarantee Screening

To assist with the AML screening (world-check screening and open source searches) on the following:

 

·        Non-Disclosure Agreements (NDA)

·        Guarantees provided on behalf of CCB-JHB clients

 

10

Projects          

To assist with AML related projects according to Business and legislative requirements.

 

 

 

 

3

PHR Code:                              Key Performance Area (Objective): Weight: 15%

To provide guidance to frontline department in terms of medium high risk transactions and clients.

KPI Code (PHR):

Key Performance Indicators for this KPA

1

Continuous development

To ensure that there is a current understanding of money laundering, terrorist financing and proliferation financing issues, including regulations, industry best practice and criminal typologies and developing trends.

2

Screening Results

To provide frontline departments with feedback on all screening results where there has been significant adverse information identified.

3

Quality Assurance

Identifying training gaps through the compliance monitoring findings and ensuring these are addressed

Conduct a gap analysis on all newly published or amended regulatory requirements

 

 

 

 

 

       

Category: Quality

 

1. Requirements

 

Formal Qualifications Required

Essential / Desirable

Matric

Essential

Money laundering certificate

Essential

ACAMs certification

Desirable

 

 

Professional Membership Required

Essential / Desirable

ACAMs

Desirable

 

 

Job Related Experience Required

Time Span

Essential / Desirable

Banking experience

3 years

Essential

AML/CFT experience

4 years

Essential