Senior Aml Compliance Officer(Mt2)- Cam Risk And Compliance

Capricorn Group Limited - windhoek, namibia

a month ago

Senior AML Compliance Officer(MT2)- CAM Risk and Compliance

Listing reference: capgh_000230

Listing status: Online

Apply by: 25 April 2024

Position summary

Introduction

The primary responsibility of this position is to manage the AML Function in CAM by implementing an effective and efficient AML risk management framework aligned with national and international legislative frameworks.

Job description


Key Performance Areas (KPAs)

  • Responsible for managing the AML Compliance Team.
  • Perform general management activities in relation to the AML compliance team. This includes the appropriate use and optimization of technology, conducting effective processes, and employing people with the right skills.
  • Draft reports for the relevant governance committees such as CAM Risk Committee, Executive Management Team (EMT), Group Compliance and the CAM Board Audit Risk and Compliance Committee.
  • Implement appropriate risk mitigating strategies within the Compliance environment to ensure strict adherence to all policies and procedures as well as regulatory and compliance requirements.
  • Regularly attend NAMFISA industry meetings.
  • Attend to queries and regulatory reports as required by the Financial Intelligence Centre or NAMFISA.
  • Implement appropriate and effective compliance and AML training strategies.
  • Stay abreast of all legislative and regulatory developments both locally and globally that might have an impact on CAM, CUTM & Caliber Capital Trust.
  • Design and implement a legislative review process to pro-actively determine the impact of new legislation, rules and regulations and the actions needed to comply, assign responsibility for the changes, and trigger the necessary change process.
  • Determine the impact of current and new legislation, rules, and regulations on CAM, CUTM and Caliber Capital Trust.
  • Monitor non-compliance and escalate any issues where non-compliance is not addressed to the Chief Risk Officer.
  • Coordinate efforts related to audits, reviews, and examinations by regulators and independent assessors.
  • Establish and continuously improve a consistent operating framework for the identification, management, monitoring and reporting of AML/CFT/CPF risks and issues.
  • Provide specialist advisory services to other departments in respect of development of policies and standards as required.
  • Liaise with Risk Management on risk related issues, as well as non-compliance with internal policies, legislation, rules and regulations.
  • Conduct periodic AML/CFT/CPF Risk Assessments on all products and services.
  • Participate in the yearly review of service providers i.e. Fintech and other third parties.
  • Define the local requirements, scope and deliverables for projects or SBCs before the PI in which the project is to be prioritized.
  • Manage the execution of AML compliance projects.
  • Assist in identifying systemic procedural weaknesses and additional training requirements for CAM.
  • As an AML subject matter expert provide direction and guidance to employees on appropriate remediation action for high-risk accounts.
  • Timely execution of instructions received from Chief Risk Officer and/or the Financial Intelligence Centre at the Bank of Namibia and/or the Namibian Police.
  • Assist with money laundering related queries or questionnaires received from business units.
  • Promote a compliance culture throughout CAM.
  • Monthly review of the alerts closed by the analysts to ensure proper investigation of suspicious transactions or money laundering alerts and timely reporting of suspicious activities.
  • Verify if documentary proof of suspicious transactions were obtained and ensure effective record keeping of suspicious transaction identified and reported to the FIC at the Bank of Namibia in line with the requirements of the Financial Intelligence Act.
  • Monthly review of the FIC request and report log to ensure timely responses and reporting.
  • Periodic review of the AML Management System scenarios and parameters and propose changes to ensure the operational effectiveness of the scenarios.
  • Assist with AML Compliance Training especially on identification and reporting of suspicious transactions.
  • Compile and submit Monthly and Quarterly to the Chief Risk Officer.

Minimum requirements


Experience/Knowledge & Skills

  • Minimum of six (6) years experience in Anti-Money Laundering, Compliance, Legal, or audit fields in financial services.
  • At least three (3) years in management capacity.
  • Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal and organizational skills.
  • Computer literacy essential.
  • Strong database skills, including working with advanced data sets, pivot tables, advanced database and statistical functions and methods.
  • Strong technical skills.
  • General understanding of marketplace Compliance, AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful.
  • Strong ability to quickly grasp and understand business unit specific Compliance and AML risks, develop comprehensive user requirements, and provide recommendations for appropriate automated solutions to mitigate those risks.

Qualifications

  • Bachelors degree with Legal, Compliance, Risk Management or Audit focus.
  • Certification in a professional association such as the Association of Certified Anti- Money Laundering Specialists (ACAMS) or Compliance Institute in South Africa (CISA) would be a distinct advantage.





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