Head : Financial Crime Compliance Rbb And Specialised Operations

Head: Financial Crime Compliance RBB and Specialised Operations Remote Type: Hybrid

Location: Johannesburg

Time Type: Full Time

Posted on: Posted Yesterday

Time Left to Apply: End Date: October 17, 2024 (5 days left to apply)

Job Requisition ID: R-15968445

Empowering Africa's tomorrow, together…one story at a time. With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Policies and Standards. Understand and manage risks and risk events (incidents) relevant to the role.

Job Description Lead a multi-disciplinary team to deliver a top-in-industry Financial Crime capability which executes on a strong risk management framework which identifies and mitigates all risks to ensure alignment with the overall Group risk profile.

To provide leadership and oversight to ensure compliance with all obligations in terms of all Financial Crime (includes AML, ABC and Sanctions) related legislation/regulation. This includes:

Oversight of key Financial Crime projects and management of delivery. Oversight of Management Information and escalation point for key issues. Escalation point for country issues relating to PEP approvals, breaches, High Risk Transactions, incidents/Issue management, legislative changes, remediation projects, regulatory Inspections. Localisation of AGL policies (where applicable). New Product Approvals: providing support and approval in line with the Business Unit processes.

Engagement with key senior stakeholders across Financial Crime Compliance (AML, Sanctions, Anti-Bribery and Corruption, Intelligence & Surveillance), Business Managing Executives, Business Exco members and Product Heads, Country Heads of Compliance / Business Unit Heads of Compliance, as well as with other risk stakeholders Group-wide.

Determine and set a strategy which enables the continued delivery of top-in-industry capabilities, including leading and execution of a complex change agenda. Includes adoption and deployment of digital, data and technology platforms and tools to ensure that capabilities continuously evolve to remain effective and efficient.

Accountability FCC Advisory Ensure compliance with regulatory requirements, enterprise risk management framework and internal policies. Assist the Absa Group Head of Financial Crime Compliance to develop a strategy to ensure that business complies with all relevant anti-money laundering, sanctions, prevention of proliferation financing ('PF'), anti-bribery & corruption and related policies and regulations. Oversee and guide the development of compliant, flexible and robust systems, procedures and controls to deliver the Group anti-money laundering objectives and improve business performance in areas. Provide input into the department's risk and control assessment (RCA). Share knowledge across the business areas supported. Help drive / influence the right regulatory behaviour of the Business, consistent with the overall values of Absa Group and specifically with respect to the relevant regulations in the various ARO jurisdictions / Business Units, through effective standard setting, procedures, advice and training, monitoring, escalation, reporting and engagement.

Clearly communicate the role, responsibilities, and objectives of Financial Crime Compliance to the Business. Maintain constructive regular engagement with relevant stakeholders, including business, infrastructure, and regulators. Assist in communicating and educating the Business in the importance of having an excellent compliance and conduct culture. Provide accurate and timely regulatory advice regarding AML/CFT regulations, international best practices to the Business as a second line of defence. Provide relevant information on Financial Crime to management. Demonstrate prudence, sound judgement, and appropriate and timely escalations in the management of all types of risks applicable to the role. Assist with the development of the on-going Financial Crime training specific to individual roles and responsibilities of staff. Represent Financial Crime at the Financial Crime Oversight Committee. Help manage new regulatory requirements affecting the various elements of the Business. Assist the Business with understanding notifications distributed by regulators and their impact on the Business. Manage high-priority projects, cases and investigations. Provide input into business risk management strategy, ensuring alignment to the Financial Crime Compliance strategies of the bank as guided by the group strategic purpose and regulatory requirements. Stakeholder Management Work collaboratively with the various Business stakeholders supporting ongoing positive working relationships. Position and communicate Financial Crime Policies, regulatory requirements, and initiatives with relevant stakeholders. Actively drive a stakeholder management plan for all compliance and regulatory matters affecting the business. Ensure matters requiring the attention of executive leaders are thoroughly developed, researched, and evaluated. Risk Management Be the accountable key regulatory risk owner for the business. Perform monitoring of the Business' adherence to AML and conduct behaviours, through stakeholder engagement, compilation and assessment of management information, and tracking and analysis of issues. Review and provide input on the Money Laundering Risk Review coverage for the business. Assist with the design and execution of the Financial Crime and Compliance Monitoring and Testing program on regulatory risk to the Business, highlight any deficiencies and recommend improvements. Governance Serve on the appropriate risk and governance forums for AML Compliance. Report to the relevant governance forums with overall conclusion on regulatory risk. Education and Experience Required 10+ years' experience in Banking and/or AML (minimum of 4 years at managerial level and some exposure to executive management). Additional Qualifications (preferable) ACAMS/International Certificate or Diploma in AML, CFT, Sanctions, ABC or Certified Fraud Examiner. Knowledge & Skills: Strategic planning: ability to identify strategic initiatives and oversee implementation. Strong interpersonal, organizational, and critical thinking skills; adaptability to meet changing demands. Exposure to AML, AML systems and AML on-boarding of customers and vendors. Understands the legislative and regulatory landscape and requirements imposed by the various regulators. Understands international legislative and regulatory requirements impacting South Africa. Ability to gather data, compile information, and prepare reports. Specific focus on ability to identify patterns/risks/trends and solutions to mitigate. Ability to analyse, interpret and advise on regulations and legislation. Ability to supervise and train employees (includes organizing, prioritizing, and scheduling work assignments). Understands the core principles of an effective AML program. Able to establish effective compliance frameworks, structures, and core processes. Understands implementation of AML governance processes. Results-oriented. Ability to interact and work effectively. Strong solution-driven person, with a hands-on approach to problem solving. Good understanding of Business products and a commitment to continued self-development. Ability to work under pressure. Education Bachelor's Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank. Absa Bank Limited reserves the right not to make an appointment to the post as advertised.

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