(1880) Analyst- AML

The successful candidate will be responsible for the following key performance areas:

• Contribute to the development, maintenance and implementation of the AML/CFT supervisory framework, encompassing Directive 1 of 2022, the Financial Intelligence Centre Act 38 of 2001 (FIC Act) and other relevant AML/CFT legislation and regulations.

• Contribute to the continuous improvement of AML/CFT supervisory processes, methods and procedures.

• Identify areas for improvement and contribute to the development or amendment of relevant legislation, regulations and best-practice standards.

• Contribute to the development and maintenance of risk-based methodologies to prioritise inspections and assess AML/CFT risks.

• Contribute to the development and execution of an AML/CFT supervisory inspection programme.

• Plan, lead and conduct thematic and full-scope AML/CFT inspections of entities within the scope of the FIC Act, the Authorisation Framework and relevant directives.

• Engage and collaborate with key stakeholders, including the Financial Intelligence Centre, Prudential Authority, Financial Surveillance Department and Financial Sector Conduct Authority, on AML/CFT supervisory matters.

• Draft AML/CFT inspection reports that summarise findings and recommend corrective action.

• Assess the inspection reports and identify entities that should be referred to the enforcement section for further action.

• Contribute to drafting AML/CFT reports for senior management, regulatory bodies and other relevant stakeholders for information, statistical and decision-making purposes.

• Draft reports and other documents, such as letters, briefing notes and memorandums, for relevant stakeholders as required.

• Analyse Financial Action Task Force (FATF) developments and provide input into supervisory approaches, risk assessments and inspection methodologies.

• Act as a point of contact for supervised entities for matters relating to AML/CFT supervision.

  Represent the South African Reserve Bank at industry meetings, forums, working groups and committees, among other platforms.

To be considered for this position, candidates must have:

• an honours degree in commerce, economics, finance, risk management, accounting or law, or an equivalent qualification in a related field;
• an Association of Certified Anti-Money Laundering Specialists (ACAMS) credential or similar AML/CFT qualification;
• a minimum of five to eight years’ experience in AML/CFT, including evidence of managing deliverables and leading projects, with at least one to two years’ experience in the banking or financial sector; and
• experience in the payment system environment will be an advantage.

Additional requirements include:

• willingness to travel for AML supervisory visits;
• knowledge and skill in:
• industry, business and organisational awareness;
• quality assurance;
• continuous improvement;
• continued learning/professional development;
• regulatory oversight and supervision;
• knowledge of:
• the NPS and AML;
• financial markets, bank supervision and interpretation of financial statements;
• NPS regulation and legal framework;
• the Principles for Financial Market Infrastructures (PFMI);
• risk management, including risk frameworks;
• central banking;
• applying relevant legislation, such as the National Payment System Act 78 of 1998 and the FIC Act;
• digital literacy;
• problem-solving and analysis;
• managing complexity and ambiguity;
• planning and organising;
• judgement and decision-making;
• resilience;
• impact and influence;
• building and maintaining relationships; and