About the position
Perform compliance monitoring tasks and activities on the universe of entities subject to the Financial Intelligence Centre Act, No. 38 of 2001 (FIC Act) utilising compliance monitoring systems and processes.
• Undertake compliance monitoring tasks and activities on compliance monitoring systems and applications in relation to the compliance universe of entities, as directed, including:
• Conducting desktop monitoring of institutions regarding registration and reporting compliance;
• Responding to public and stakeholder queries on the FIC Act compliance and ML/TF/PF risk matters within prescribed timelines;
• Drafting responses to stakeholder correspondence and drafting minutes of stakeholder meetings, within prescribed timelines and format.
• Engage with supervisory bodies and external institutions to monitor and enhance the level of understanding of ML/TF/PF risks and compliance with FIC Act.
• Identify compliance issues experienced and provide compliance solutions to identified issues within assigned industry sectors affected by the FIC Act.
• Develop a sound understanding of the activities and the ML/TF/PF risks of assigned regulated institutions and sectors under the FIC Act.
• Develop expertise in providing forward-thinking compliance direction and advice to regulated institutions, persons and sectors under the FIC Act.
• Build and maintain professional relationships with assigned supervisory bodies, regulated institutions and other stakeholders affected by FIC Act
• Work closely with other Programmes within the Division and FIC to deliver on all outputs.
• Conduct compliance reviews of identified entities, within specified timelines, prepare reports on such reviews and follow up on remedial actions when necessary.
• Review and revise risk-based compliance research papers of existing and new industry sectors or stakeholders, including universe, scope and industry ML/TF/PF risks.
• Timeously respond to assigned public queries.
• Assist with the inspections when required, including the follow up of remedial actions.
• Assist with compliance awareness initiatives including presentations.
• Assist with industry sector risk assessments, including analysing responses, drafting and reviewing resultant reports.
• Adhere to administration and record management policies/procedures within the FIC.
Education, Skills and Experience
• Relevant University Degree (e.g. LLB, BCom). Post Graduate Compliance Management qualification is preferred.
• 3 or more years' experience in relevant field i.e. compliance/risk experience, including practical experience in the application of compliance methodologies, of which 1 year must be practical experience in the AML/CFT environment
• Relevant experience in sectors subject to Financial Intelligence Centre Act.
