About the position
JOB PURPOSE
To plan, prepare for, lead and execute inspections in accordance with the Financial Intelligence Centre Act, as amended (the FIC Act) and to provide timeous and high-quality inspection reports to identify areas of non-compliance, make recommendations on remediation action to remedy the non-compliance. In deserving matters support the enforcement of FIC Act non-compliance through administrative sanctions. To render professional advice and assistance to the FIC and supervisory bodies, on enforcement matters, as and when required
KEY PERFORMANCE AREAS
• Research and identify suitable accountable institutions for inspections, utilising the risk base approach.
• Conduct inspections on accountable institutions and correctly to assess the levels of compliance with the provisions of the Financial Intelligence Centre Act 38 of 2001 (the FIC Act) by accountable institution.
• Collect and maintain the integrity of information evidencing the levels of compliance with the FIC Act.
• Draft and process inspection reports detailing the level of compliance by inspected institutions setting out in detail findings, evidence and recommendations.
• Secure accurate, reliable and admissible evidence to support conclusions on the inspected institution's level of compliance with the FIC Act.
• Recommend appropriate remedial action to remedy any non-compliance and monitor the remediation progress.
• Conduct research on domestic and international AML compliance and enforcement trends.
• Guide and advise accountable institutions, reporting institutions and supervisory bodies regarding compliance with the FIC Act.
• Ensure compliance with protocols and procedures, including confidentiality and non-abuse of inspection powers.
• Identify and implement methods to improve efficiency and quality
• Attend and respond to correspondences relating to inspections and other general matters
• Act as team lead for a team of inspectors.
• Review the work of inspectors
• Guide, advise, train and mentor inspectors.
• Create and execute clear, focused, and efficient inspection plans with reasonable timelines to manage own and team members targets.
EDUCATION, SKILLS AND EXPERIENCE
• University Degree in Law (LLB preferred). Commerce Degree in Law (B. Com Law)
• B.Com in forensic accounting/auditing may be considered.
• At least eight (8) years' experience in a relevant field i.e. prosecution of criminal or administrative proceedings, forensic auditing, auditing of information systems, and or supervisory inspection experience of regulatory requirements.
• Knowledge of the FIC Act, other anti-money laundering legislation and international anti-
• Money laundering standards
• Advanced investigative and analysis skills
• Advanced legal drafting skills
• Good written and verbal communication skills
• Intermediate to advanced level of computer literacy, including MS Word, MS Access, MS Project; MS Excel, MS Power Point
• A high level of judgement and integrity
• FIC Act compliance experience advantageous
• Knowledge and good understanding of the provisions of the FIC Act and other anti-money-laundering legislation and international standards.
• Team lead experience necessary.
