About the position
AML Analyst
Location: Cape Town
Contract: 6-Month Contract
Work Model: Hybrid
About the Role
An exciting opportunity exists for an experienced AML Analyst to join a central AML function within a leading financial services environment.
The role is responsible for supporting and overseeing day-to-day AML, KYC and CDD activities, with a strong focus on client onboarding, ongoing due diligence, trigger events, risk assessments, escalations and regulatory compliance.
The successful candidate will have strong attention to detail, sound regulatory knowledge and the confidence to investigate, identify and escalate potential risks while working collaboratively with business stakeholders.
Key Responsibilities
AML Client Onboarding & Client Updates
- Perform quality assurance checks on AML packs for new clients in line with CDD requirements.
- Conduct AML screening and investigations using relevant internal systems and multiple data sources.
- Monitor AML dashboards and proactively address identified risks.
- Perform dynamic client risk assessments and identify potential risk concerns.
- Validate and verify KYC documentation accurately and consistently.
- Identify, investigate and escalate Politically Exposed Persons (PEPs) and other high-risk individuals.
- Conduct Enhanced Due Diligence (EDD) on high-risk clients and related parties.
- Investigate adverse media and escalate findings where appropriate.
- Work closely with business stakeholders to facilitate efficient and compliant client onboarding.
- Conduct research and due diligence using internal and external databases.
- Manage AML requirements relating to offshore account opening.
Ongoing Due Diligence, Trigger Events & Escalations
- Conduct CDD reviews on existing clients in line with applicable AML requirements.
- Ensure client records are accurately maintained, including ownership and beneficial ownership information.
- Validate and verify KYC documentation.
- Compile accurate and complete AML Refresh Packs.
- Identify and escalate PEPs, adverse media and high-risk entities.
- Perform Enhanced Due Diligence for higher-risk scenarios.
- Support client termination and exit processes in accordance with risk requirements.
- Support annual client data maintenance activities.
- Ensure adherence to FICA requirements and applicable Risk Management Compliance Plans.
- Conduct ongoing AML monitoring and proactively resolve identified issues.
- Oversee AML requirements relating to offshore accounts.
AML Procedures & Projects
- Lead and support AML-related initiatives and special business projects.
- Identify and implement improvements to AML processes and procedures.
- Assist with addressing system and process gaps in collaboration with relevant AML Centres of Excellence and Group functions.
- Support regulatory reporting requirements, including Section 27 requests and fraud-related cases.
- Collaborate with AML teams and business stakeholders to promote knowledge sharing and consistent application of AML processes.
- Ensure operational adherence to applicable AML and FICA requirements.
Minimum Requirements
- Tertiary qualification in a relevant field.
- 2-3 years' experience in AML and/or Financial Services.
- Practical experience in AML, KYC and CDD processes.
- Experience conducting client due diligence, risk assessments and investigations.
- Experience identifying and escalating PEPs, adverse media and high-risk clients.
- Strong understanding of financial services regulatory requirements.
Regulatory Knowledge
Essential:
- FAIS
- JSE Rules and Directives
Advantageous:
- FICA / AML
- FATCA
- POPIA
- Regulation 28
- Other applicable financial services legislation
Knowledge & Skills
- Strong written and verbal communication skills.
- Good understanding of internal control concepts, preferably within Financial Services.
- Strong research, investigation and due diligence capabilities.
- Excellent analytical and problem-solving skills.
- Project coordination experience.
- Strong collaboration and stakeholder management skills.
- Proficiency in Microsoft Office, particularly Excel.
- Ability to identify opportunities to improve and automate processes.
- Understanding of financial products and instruments would be advantageous.
- Ability to understand broader business issues and apply a holistic approach to processes and risk.
Personal Attributes
The ideal candidate will be:
- Highly motivated, proactive and accountable.
- Comfortable taking ownership of issues through to resolution.
- Highly organised with excellent time-management skills.
- Accurate and highly detail-oriented.
- Comfortable working under pressure and within challenging environments.
- Confident, mature and resilient.
- An excellent communicator and active listener.
- Assertive when dealing with risk and compliance matters.
- Innovative and proactive in identifying solutions.
- Curious, analytical and willing to investigate beyond the obvious.
- Adaptable with a strong learning mindset.
- Passionate about delivering quality results.
Desired Skills:
Desired Work Experience:
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