Job Purpose:
To form part of Compliance Function in Risk and Compliance team. A compliance officer is an individual who ensures that a company complies with its outside regulatory and legal requirements as well as internal policies and bylaws. Compliance officers have a duty to their employer to work with management and staff to identify and manage regulatory risk.
The Financial Intelligence Centre Act (FICA) requires accountable institutions, such as banks, attorneys and estate agents, to appoint a FICA compliance officer. The compliance officer is responsible for ensuring that the institution complies with FICA's requirements and for reporting any suspicious transactions to the Financial Intelligence Centre (FIC).
Reporting Line:
This role will report to the Group Executive Policies and Procedures
Key Areas of Responsibility:
Provide support to Head of FICA Compliance Officer and the wider Compliance team in the practical
Implementation of the FIC Amendment Act requirements including relevant guidance notes and contribute towards maintaining a sound compliance culture in the group companies through the achievement of established compliance deliverables including the following:
FICA Compliance Related Responsibilities:
Work closely with FICA Compliance Manager and ensuring the adherence to the Risk Management and Compliance Program, including providing assistance with FICA related queries from all staff members
Ensuring compliance to all FICA process as per the FIC Act
Adhere to CDD and EDD processes
Manage all logged calls from the business with 48 hours
Screening on Docfox or BPG approved screening software
Reporting High Risk clients/Tenants to FICA Compliance Manager
Approved high risk clients/tenants – FICA entities to be captured on B# FICA Module
All approved tenants/clients from Docfox (or BPG approved screening software) screening entities to be created on B# within 24 hours
All renewals to be captured on Docfox (or BPG approved screening software)
Maintaining a monthly register of all high risk tenants/clients
Maintaining a monthly register of all PEPS
Reporting cash transactions of over R 49 999.00 to FIC on the GoAML platform daily
Printing of Cash reporting from B# to ensure cash is reported daily and within 48 hours
Prepare STR and SAR reports to the FICA Compliance Manager
Auditing of portfolios monthly (FICA COMPLIANCE %)
Complete audit reports and capture the information on B# ISO compliance fault centre
Take-On of new portfolios- auditing and ensuring 100% compliancy with the 3-6 months remediation process
Follow up on corrective actions from audits
Maintain and update PEP and High risk register monthly
Follow up and respond to all FICA related queries and requests
Monthly reporting on the progress of the audits to be sent to the FICA Compliance Manager
Perform due diligence reviews and reporting on high risk tenants annually
Record keeping- Customer Due Diligence documents, all FICA related documents or any client transaction that takes place- this is kept on B# on FICA module or the document centre
Qualification & Skills Required :
FICA Certified
Sound and in-depth understanding of FICA/ML/TF control regulations and FIC Guidance Notes
Minimum 3 years FICA experience
Compliance Monitoring Experience
Personal Attributes:
Process driven and analytical;
High level of attention to detail;
High degree of agility;
Good planning and organisational skills;
Ability to engage with stakeholders at various levels
Ability to query, challenge and maintain a high degree of professional scepticism;'
Insight to make relevant conclusions
Excellent communication skills, both oral and written;
Ability to perform in a demanding team
Resilience
Team player
Integrity and confidential nature
Computer Competency Requirements:
Word
Excel
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