(972) Analyst: Anti-Money Laundering

The successful candidate will be responsible for the following key performance areas:

1. Participate in targeted on-site inspections at banks and branches of foreign banks domiciled in South Africa, to test banks’ compliance with the provisions of the FIC Act with regard to anti-money laundering and combating the financing of terrorism (AML/CFT).
2. Lead inspections targeted at banks and insurers when requested to - assessing compliance with the FIC Act.
3. Analyse and interpret data from banks and insurers.
4. Draft and review documentation - supervisory, correspondence, presentations, etc.
5. Assist in projects, which enhance effectiveness and drive efficiency.
6. Assist in bank and life insurance licensing applications that are considered by the AML team.
7. Maintain assignment records.
8. Attend meetings with respective stakeholders as and when required.
9. Provide input into inspection reports and closing letters to the management of banks and life insurers.
10. Undertake ad hoc on-site review projects pertaining to banks’ compliance with the Banks Act 94 of 1990 (Banks Act) and the Regulations relating to Banks.
11. Attend to off-site supervision and correspondence related to AML/CFT within the banking and insurance industry.

To be considered for this position, candidates must have:

1. A Postgraduate degree in Law, Accounting, Auditing, Finance or an equivalent qualification; and
2. Five to eight years’ practical experience in AML/CFT compliance within the banking industry.

1. Knowledge of the provisions of the FIC Act;
2. Knowledge of international standards relating to AML/CFT (i.e. the Financial Action Task Force 40 Recommendations and the Basel Core Principles and Guidelines); and
3. Knowledge of the Banks Act and the Regulations relating to Banks.