Assistant Compliance & AML Manager - Head Office Kwazulu Natal

Position: Assistant Compliance & AML Manager - Head Office Kwazulu Natal)

Job title : Assistant Compliance & AML Manager - Head Office - Durban (Kwazulu Natal)

Job Location :
Kwa Zulu-Natal, Durban Deadline :
January 10,

Core Purpose of the Job

To manage regulatory and reputational risk at the Bank.

Main Functions of the Job

Assists the Manager in the overall management of Regulatory Risk

Ensure compliance with current laws, regulations, guidance notes and supervisory requirements or provisions

Ensure that the Bank is not subjected to prosecution, levied with fines or its licence affected in any way

Prepare a Compliance Functional Plan for the following year and obtain Audit Committee approval

Report on progress with the Compliance Functional Plan for the year

Prioritise legislation for analysing for the year

Analyse the legislation pertaining to banking by preparing Risk Management Plans for each prioritized Act, Action Plans and ensure embedded in Departmental Manuals

Inform management of legislative updates through legal alerts

Monitor for non-compliance and maintain records of monitoring for audit purposes

Prepare presentations for staff and regulators

Submit returns to regulators such as for FAIS, FICA, etc.

Prepare policies and procedures for relevant legislation

Maintain and annually update the compliance manual

Assists in Monitoring

Monitor compliance with legislation by conducting branch reviews

Monitor legislative updates

Advise Management and the Board of non-compliance with legislation

Query non-compliance with staff and management and suggest corrective measures including disciplinary action where necessary

Monitor submission of BA returns to the Registrar by other departments

Assists in the overall management of Reputational Risk

Manage any negative publicity that could result in reputational risk to the bank or have other adverse consequences

Monitor customer complaints and any threatened or actual events that could result in a reputational risk to the bank

Inform management and directors of such events

Assists in the management of Money Laundering Risk

Manages the activities of the AML Department

Manages and mitigates Money Laundering and Terror Financing risk

Advises senior management and the Board on application and implementation of AML, CFT and sanctions legislation, regulations and international best practice

Develops and maintains the AML / CFT and Sanctions policies and procedures and recommends for approval on an annual basis - eg.

RMCP

Monitors development of, analyses and interprets the regulatory requirements in terms of the Financial Intelligence Centre Act (FICA) and associated Guidance Notes, Public Compliance Communications and Directives, the FATF 40 Recommendations and international best practice such as Wolfsburg Group, Basel Committee on Banking Supervision and Central Bank of Bahrain Directives

Develops and maintains an appropriate risk-rating methodology by considering the relevant legislation, international best practice and industry application in the form of an AML / CFT Risk-Rating Policy

Develops and maintains an appropriate risk-based approach (RBA) to Customer Due Diligence (CDD) / Know Your Customer (KYC) obligations in terms of the FIC Act, industry standards and international best practice

Provides oversight and guidance in performing and adhering to the Bank's ODD obligations

Develops and maintains the enhanced due diligence (EDD) requirements taking into account the high money laundering and terror financing (ML / TF) risk areas of the Bank

Assesses the adequacy of applicable typologies and parameters selected for implementation in the SAS system

Ensures that all regulatory reporting is conducted timeously, eg.

CTRs, STRs.

Ensures a comprehensive, efficient and effective sanctions and watchlist screening function by the implementation of an automated sanctions screening software to comply with local and international sanctions regulations, as well as financial crime risk mitigation measures

Ensures annual training conducted to all staff on FIC Act obligations in line with their job functions

Reviews branch compliance to AML / CTF matters by reviewing customer files and reports on findings to EXCO and Board

Conducts regular reviews to ensure compliance with AML / CFT matters, eg.

submission of reports, updating of watchlists, etc.

Assists with Training requirements

Train staff and directors on legislation generally

Provide intensive training to staff on important legislation e.g. Financial Intelligence Centre Act, the FAIS Act, etc.

Conduct tests to ensure employees obtain the relevant level of expertise

General

Preparing regular reports for EXCO and Board

Assisting on Committees

Conducting research and providing compliance opinions to Exco and Board

Maintaining relationship with Group Compliance and submitting quarterly Compliance reports

Assists in performing Information Officer Duties

Ensures Compliance by the Bank with the conditions for the lawful processing of personal information.

Develops and maintains the policy on the eight conditions for the lawful processing of personal…