About the position
AML/KYC ANALYST
Location: Durban North, KwaZulu-Natal
Industry: Banking
ROLE OVERVIEW
The AML/KYC Analyst will support the organisation’s financial crime compliance programme by reviewing customer accounts across all risk categories and ensuring that due diligence records are complete, accurate and aligned with applicable legislation, regulatory guidance and internal policies.
The successful candidate will manage account-review workflows, assess supporting documentation and work closely with branches, relationship teams and Compliance to resolve outstanding matters and ensure that customer information remains current.
KEY RESPONSIBILITIES
- Review high-, medium- and lower-risk customer accounts in accordance with regulatory requirements, internal policies and agreed targets.
- Coordinate the review and approval workflow for new high-risk customer accounts submitted by branches.
- Manage the renewal and ongoing review process for existing high-risk customer accounts.
- Conduct periodic and event-driven REKYC reviews to ensure that customer information and risk profiles remain accurate and up to date.
- Prepare comprehensive Customer Due Diligence and Enhanced Due Diligence reports, supported by appropriate documentation and clear findings.
- Conduct enhanced reviews of politically exposed persons and other higher-risk customer relationships.
- Assess the validity, completeness and consistency of customer information and supporting documentation used for CDD and EDD purposes.
- Identify gaps, inconsistencies or concerns arising from due diligence reviews and escalate these matters where necessary.
- Follow up on outstanding information and ensure that queries or exceptions are resolved within the required timeframes.
- Maintain effective working relationships with Branch Managers, Relationship Managers, Compliance and other teams involved in customer-account administration.
- Provide Compliance with accurate progress updates relating to account reviews, outstanding information, identified risks, exceptions and completion status.
QUALIFICATIONS AND EXPERIENCE
- One to three years’ experience in a compliance, AML, KYC or regulatory position within a banking environment.
- An LLB, comparable relevant qualification, or recognised compliance-related studies or certifications.
- A sound understanding of the Financial Intelligence Centre Act, associated regulations, directives and guidance, as well as other legislation applicable to the banking sector.
- Practical experience in customer due diligence, enhanced due diligence, account risk reviews, KYC remediation or a related area.
- The ability to analyse customer information critically and document findings and recommendations clearly.
- Proficiency in HPLUS would be advantageous.
KEY COMPETENCIES
- Strong attention to detail and a commitment to producing accurate work.
- Effective time management and the ability to manage multiple review queues and deadlines.
- Sound analytical and problem-solving skills.
- The ability to identify potential compliance risks and escalate concerns appropriately.
- Clear written and verbal communication skills.
- Strong stakeholder engagement and relationship-management abilities.
- A good understanding of banking-industry protocols and compliance best practices.
- A professional approach to confidentiality, record-keeping and regulatory responsibilities.
Desired Skills:
- AML
- KYC
- EDD
- legislation
- compliance
- regulation
- FICA
