To conduct Anti-Money Laundering (AML) Quality Assurance (QA) reviews in the Financial Crime Management Unit (FCMU) in relation to relevant legislation, SBSA Standards, money laundering surveillance processes and procedures and any guidance provided.
This includes identifying trends, gaps, weaknesses, training requirements, and issues affecting system integrity, adherence to internal requirements and resulting in recommendations to the Senior Manager : Strategic Analysis regarding remedial actions.
This also includes the review and provision of recommendations in relation to optimal surveillance of new and existing products.
Key Responsibilities / Accountabilities Ensure that Quality Assurance is conducted on all Financial Crime Management Unit analysis, processes and products
Formulate the necessary procedures required to perform quality assurance exercises across the FCMU operational areas, considering the regulatory expectations of such reporting.
Execute the necessary QA exercises across the FCMU operational areas.
Compile factual reports, indicating the QA findings and recommend suitable courses of action where findings require some form of remedial action.
Create a QA matrix, where findings from QA exercises are listed, tracked and compared for the necessary governance and oversight to be managed.
Conduct quarterly QA exercises across the FCMU operational areas in accordance to the formulated procedures.
Conduct ad hoc QA exercises as required by FCMU Management.
Manage and monitor the implementation of suggested improvements emanating from the Quality Assurance findings
Create and maintain the necessary dashboards to be able to track the progress made on QA recommendations.
Monitor the implementation of recommendations across the FCMU.
Track the progress of improvements against the compiled QA report and provide periodic feedback to FCMU Management on this progress.
Provide the necessary training for team leaders / managers in the FCMU space to be able to implement the proposed recommendations.
Prepare the compilation of statistics relating to QA exercises, for consumption by FCMU Senior Management.
Identify Anti-Money Laundering (AML) / CFT trends and typologies emanating from QA exercises conducted in the Financial Crime Management Unit
Research and interpret information available through the QA exercises, on emerging trends and typologies relating to money laundering and terrorist financing.
Develop recommendations for improvements if risks or deficiencies are identified in relation to any new or emerging money laundering or terrorist financing trends or indicators.
Formulate briefing notes, training packs or presentations to highlight the identified risks, in conjunction with the FCMU team, where new money laundering or terrorist financing trends are identified.
Present briefing notes, training and presentations to the relevant stakeholders on newly identified money laundering or terrorist financing trends identified.
Demonstrate proficiency and knowledge of transaction monitoring best practice, and provide the necessary recommendations for adaptation, improvement or acquisitions.
Engage with the relevant stakeholders with an aim to improving the overall Financial Crime Management Unit’s performance.
Liaise with Senior Management within the FCMU to convey all QA findings, along with suggested courses of action necessary to address identified deficiencies.
Liaise with other Business Units within Group Compliance with the aim of benchmarking QA processes and procedures to Group standards.
Assist in the compilation of Group standards using the outcomes of QA processes with the relevant Group counterparts.
Share processes, methodologies, lessons learnt and better practice with other surveillance units in the Group and provide guidance in this regard where required.
Engage in the appropriate forums and workshops to convey QA findings to a wider audience upon request.
Preferred Qualification and Experience A tertiary degree in either law, information technology, internal audit, risk management or relevant experience Additional diplomas, certificates, or training courses in money laundering, data management, or analytics Additional diplomas, certificates, or training courses in management practices.
3-4 Years - The candidate should have some experience in the analysis of money laundering and terrorist financing indicators and trends and should be able to conduct qualitative assessment of peer / subordinate work.
3-4 Years - The candidate must have experience in some sort of oversight role as it relates to money laundering data analytics and the interpretation and operationalization thereof.
5-7 Years - AML Specialist with oversight responsibilities 5-7 Years - The candidate must have previously engaged in QA exercises / audit functions and have experience in oversight roles.