About the position
JOB PURPOSE:
Perform compliance monitoring tasks and activities on compliance monitoring systems and applications, and broadly in relation to the compliance universe of entities subject to the Financial Intelligence Centre Act, 2001 (FIC Act) as directed by the Line manager/Senior Compliance Officer (SCO) to achieve operational and strategic targets, including timeously deliver specific projects, of the Compliance Monitoring Programme and Compliance and Prevention Division.
KEY PERFORMANCE AREAS:
• Assist in engaging supervisory bodies and external institutions to monitor and enhance the level of understanding of ML/TF/PF risks and compliance with FIC Act, maintain profession relationships with, and assist in giving direction to, supervisory bodies and affected institutions, providing solutions related to compliance matters, and timeously respond to public queries under supervision of the Senior Compliance Officer.
• Assist with undertaking compliance monitoring tasks and activities on compliance monitoring systems and applications in relation to the compliance universe of entities, as directed by SCO, 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.
• Assist in identifying 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 of assigned regulated institutions and sectors under the FIC Act.
• Develop understanding in providing forward-thinking compliance direction and advice to regulated institutions, persons and sectors under the FIC Act.
• Assist in building and maintaining 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.
• Assist to conduct compliance reviews of identified entities and when required also conduct compliance reviews under supervision of the SCO, within specified timelines.
• Assist to 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.
• Assist with the inspections when required, including the follow up of remedial actions.
• Assist with compliance awareness initiatives.
• Assist with conducting industry sector risk assessments.
• Adhere to administration and record management policies/procedures within the division and FIC.
EDUCATION, SKILLS AND EXPERIENCE:
• Relevant University Degree (e.g. LLB, BCom). Qualifications in anti-money laundering and or compliance management would be advantageous;
• 1-year practical compliance and/or AML experience in sectors subject to the Financial Intelligence Centre Act;
• Excellent communication skills (oral and written); and
• An intermediate level of computer literacy, including MS Word, MS Access, MS Projects; MS Excel, MS Power Point.
