(Land Bank) is South Africa's only specialist agricultural bank established in 1912, the bank's sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach.
These services enable farmers to finance land, equipment, improve assets and obtain production credit.
The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry.
As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.
MAIN PURPOSE OF THE JOB To lead the Bank's Anti-Money Laundering (AML) Programme function, including Financial Crime, Sanctions by providing strategic direction and focus and by establishing and promoting a compliance culture within the Land Bank Group.
To ensure that the Bank complies with all relevant statutory, regulatory and supervisory requirements that pertain to its particular industry as well as professional standards, accepted business practices and internal standards in relation to Anti-Money Laundering and Counter Terrorist Financing.
To ensure that the Banks corporate governance processes and internal policies are sound and embedded within the organisation in relation to Financial Crime and AML and Counter Terrorist Financing.
To ensure that the Bank conducts its business in an ethical manner and to promote an ethical culture within the Bank thereby assisting to manage risk, maintain a positive reputation.
Monitor transactions and conducting diligence on counterparties to detect and prevent suspicious activities To create awareness and educate employees and management at all levels as well as instituting practices that will ensure the highest possible level of compliance and risk.
Participating in and supporting the Board and Board sub-committees in effective management of compliance risks.
To be registered with the FIC as the Bank's Money Laundering Reporting Officer and Compliance Officer and to satisfy all the regulatory duties of the Compliance Officer as prescribed by the FIC Act.
To develop and implement a robust Financial Crime Risk Management Framework.
To develop and Implement policies and procedures designed to deter and detect money laundering and terrorist financing.
To implement a risk based approach for AML, including identifying potential red flags.
To support the Credit and other transactional processes in ensuring sanctions/PEP screenings are undertaken upfront and report submitted to the various committees up to Board for approval.
To ensure that all independent audits of the AML program are conducted and findings/gaps reported to Head of Compliance and CRO.
Ensure all findings and gaps identified are addressed within scheduled time lines.
To develop relationships with our stakeholder and prepare for various inspections including participation in industry forums.