Description:
Key responsibilities- Perform enhanced client due diligence (ECDD) for all high-risk clients by ensuring that the client is compliant and conducting a thorough assessment of the ML/TF/PF risk associated with the client and prepare high quality ECDD reports with a suitable recommendation to management on whether to establish or continue a relationship or conclude a single transaction.
- Provide a specialist function to Accountable Institutions in respect of natural persons and legal entity onboarding, which includes the identification of UBOs (PCC59) and other relevant related parties in respect of South Africa and Guernsey products.
- Perform customer due diligence and risk assessment when onboarding a client (legal entities and natural persons) as well as throughout the life cycle of the client relationship (ongoing due diligence), in accordance with the RMCP, in respect of South Africa and Guernsey products (natural persons only).
- Perform sanctions, PEP and adverse media screening on all client and its related parties and take the appropriate action on positive matches and escalate in accordance with the requirements of the RMCP.
- Ensure that all clients and linked parties are registered for ongoing screening and manage daily alerts generated by the World Check system (or any other applicable system) in respect of sanctions, PEP and adverse media and take the appropriate action on positive matches and escalate in accordance with the requirements of the RMCP.
- Perform ID and address verification on clients and linked parties.
- Perform FATCA/CRS checks to ensure accuracy and completeness of data and correct classification of clients.
- Perform transaction analysis to identify suspicious or unusual transactions.
- Apply and adhere to the risk management and compliance program (RMCP) requirements.
- Maintain excellent knowledge of sanctions regimes, including but not limited to UNSC, EU, UK, OFAC, and TFS.
- Provide guidance to business stakeholders regarding RMCP requirements to ensure that clients are compliant at onboarding and throughout the client lifecycle.
- Apply risk assessment techniques to effectively identify and mitigate AML risks.
- Stay current on regulatory changes and best practices in AML compliance.
- Collaborate with internal teams to develop and implement AML policies and procedures.
- Participate in any remediation projects, to resolve any issues identified by the Head of AML Operations and/or through regulatory inspections and/or external reviews and/or legislative changes.
- Collaborate with internal clients to address queries.
- Ensure that agreed SLAs are met and raise any risks timeously with the Head of AML Operations.
Key relationships
- FICA/AML Compliance, Advisors, Business Unit Leaders (BULs), BU Team Leaders, BU Managers.
Qualifications and experience
- Legal or commercial degree required.
19 Apr 2025;
from:
gumtree.co.za