Job Title: AML Operations SpecialistLocation:On-site in Claremont, Cape TownReporting 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).