Analyst, Financial Crime Compliance, Money Laundering Surveillance (4 positions) at Standard Bank Group

Job Purpose

To conduct surveillance, analyse and investigate customers with respect to potential terrorist financing and money laundering related to bribery, corruption, and other predicate offences or other suspicious activity, based on System and Manual Alerts. This is essential in order to contribute to the assurance that business is undertaken in a compliant manner to avoid operational losses, fines, penalties, or reputational damage to the organisation.

Key Responsibilities/Accountabilities

• Product
  • Execute product related activities in line with the agreed policies, procedures, and service level agreements.
  • Conduct in-depth analysis to ensure that the organisations' products and services adhere to all relevant legislation and regulations.
  • Risk, Regulatory, Prudential & Compliance
  • Stay abreast of, identify and report / escalate on any new and emerging trends and typologies in the legislative and regulatory environment, any product issues or any risks.
  • Conduct in-depth investigations into money laundering and terrorist financing activities, Politically Exposed Persons (PEPs), Politically Influential Persons (PIPs) or Tip-Offs in order to identify potential risks for the Bank.
  • Receiving of suspicious transaction reports and conducting a first level review with subsequent escalation to the Team Leader for reporting to the Financial Reporting Centre.
  • Capture accurate and detailed suspicious transactions report in the goAML system
  • Daily analysis on all positively identified persons/entities in relation to manual and systems generated alerts of suspicious activity in line with Anti-Money Laundering Control (AML) procedures.
  • Ensure that all media sources (newspapers / internet) are reviewed daily to keep abreast with information on high risk customers and customers with adverse information.
  • Analyse all matters relating to high-risk customers containing adverse information, complex and significant issues to line management for immediate action in order to avoid operational losses, fines, penalties or reputational damage to the organisation.
  • Respond timeously to FRC requests and making sure that all required information and documentation are provided. Daily assessment of AML and reports for potential suspicious activity.
  • Participate in reviewing Policies and Procedures on all relevant POCAMLA, CBK Prudential Guidelines and Money Laundering Policy and procedure manuals to ensure that these documents are always updated with the latest legislation requirements and operational procedures. Assist with the reviewing of internal rules, manuals, and policies within the Money Laundering Surveillance (MSL).
  • Analyse potential money laundering and financing of terrorism risks associated with specific customers, products, jurisdiction and channels of delivery.
  • Evaluate alerts presented on the various AML systems (eg Nice Actimize Watch List Filtering (WLF), RelyComply, Customer Onboarding and Insure Manager systems) in real time and/or in batch, by analysing such alerts against the information on the hit list within service level agreement.
  • Completion of AML questionnaires for our Correspondents clients and Timely review and submission of Correspondent Requests for Information (RFIs)
  • To actively participate in MLS projects and assist in testing of the new systems in the MLS space and assist with ad-hoc tasks, assume responsibility for special projects, participate in system testing and other activities required for the running of the MLS unit
  • Maintenance of records related to AML/ CFT duties specified above including training records, supporting documents used to resolve alerts.
  • Ensure timely submission of regulatory reports to the regulatory authorities which include the Financial Reporting Centre, Central Bank of Kenya.
• Technology & Architecture
  • Understand the banking source and target systems and interpret the output in the surveillance, investigation & analysis processes.
• Client
  • Execute client and stakeholder activities, both internal and external, in line with the agreed policies, procedures and service level agreements.
  • Provide expert advice and guidance to stakeholders & clients.
  • Resolve queries regarding the analysis, information & reports
• Data
  • Gather all sufficient and appropriate information from all available sources to ensure thorough analytics can be conducted.
  • Capture findings and conclusions in the required reporting format and systems and prepare and submit outcomes as prescribed by relevant policies and procedures.
  • Escalate all high-risk, complex and/or significant issues to the line manager to ensure these matters are dealt with timeously and as per the standards set out it in the relevant functional framework.
  • Store and manage all information and data on the required systems, in the required format and for the required duration as prescribed by the relevant data model and in adherence with the policies and procedures.
  • Deliver holistically on all the regulatory and internal reporting requirements. Compile reports covering findings, conclusions, recommendations and to inform next steps. Prepare statistics, dashboards, and information for both internal stakeholders and Regulators.
  • Analyse all information related to alerts and/or instructions received, via any method or form, in order to detect possible money laundering; terrorist financing; sanctions breaches, exchange control contraventions and any other legislative breaches.
  • Prepare statistics & other information as required for reporting, further investigation, or auditing purposes.

Minimum Qualification and Experience

• Undergraduate degree in Business or equivalent
• 2-3 years experience in the realm of Anti-Fraud, -Bribery, -Market Abuse-Money Laundering and Combatting Financing of Terrorism Surveillance, Analytics and Investigation.
• Experience in bank processes, products, and systems. Experience in dealing with different stakeholders at different levels both internal and external.

Other Minimum Qualifications, certifications, or professional memberships

• Professional course in Money Laundering e.g. Certified Anti-Money Laundering Specialist (CAMS), International Compliance association (ICA) and equivalent