Manager: Compliance and Anti Money Laundering at Absa Bank Limited

Job Summary

• To ensure compliance by business with its obligations in terms of the Anti-Money Laundering (AML) and terrorist financing legislation/regulation and its employees with the provisions of the applicable laws and internal policies and rules.
• To ensure adherence by Business with the Sanctions and Anti-Bribery and Corruption (ABC) Policy requirements.
• To provide AML related training to the business.

Job Description

Implementation, embedment and oversight of AML, Sanctions and ABC

Provide guidance/support to the Anti-Money Laundering (AML), ABC and Sanctions functions within Business Units (BU) to ensure:

• Full financial crime regulatory compliance.
• The awareness of processes to report suspicious transaction reports.
• There is a framework for managing the process for the escalation of dispensations / waivers to the Head of Financial Crime on behalf of a BU.
• Assist the relevant BUs in the interpretation of policies and standards as required.
• Monitor, by checking, that relevant BUs provide awareness and training programmes in respect of Money Laundering, Sanctions and Bribery & Corruption in accordance with the statutory requirements and report on completion of training.
• Guide relevant BUs with regard to compliance with any AML; ABC or Sanctions related issues arising from regulation or policy.
• Guide relevant BUs with regard to the remediation required following any form of assurance review conducted (i.e. Internal Audit, Financial Crime).
• Participate with business when new products are being developed to ensure financial crime compliance. Provide Financial Crime input into the Africa NPA process.
• Obtain and review of monthly financial crime reports from designated in country team members.
• To design and implement ad hoc financial crime training to relevant BUs in line with the Absa Policy requirements.

Annual High-Risk Reviews

• Ensure the relevant BUs understand the standard required to be performed, including the record retention requirements for Annual High-Risk Reviews.
• Provide training to users on the standard compiled.
• Track progress and completion of Annual High-Risk Reviews.
• Conduct reviews on the High-Risk Reviews that have been performed.
• Ensure the maintenance of the High-Risk database and provide reports as and when these are required.
• Escalate to the Manager: Financial Crime BUSINESS, any missed deadlines in this regard.

Politically Exposed Persons

• Ensure PEP register is complete and maintained by relevant BUs.
• Provide advice on the PEP review standard to be used.
• Assist in providing training to users on the standard compiled.
• Conduct reviews on the PEP Reviews that have been performed.

Financial Crime Reporting

• Test that relevant BUs maintain records relating to Dispensations, Waivers, Exceptions and Breaches log.
• Compile the monthly KRI reports relating to BUSINESS.
• Provide relevant, accurate and updated information on request or in terms of agreed timelines to be included in various stakeholder reports such as CRC, Combined Assurance, Exco.

Accountability: Stakeholder management

• Build and maintain meaningful relationships the BUSINESS BUs with the aim of 3 understanding their business needs.
• Ensure that updates/review/testing reports are discussed and submitted timeously to the relevant COO.
• Apply consistent Financial Crime standards across BUSINESS.

Accountability: Policies and Procedures

• Facilitate and embed policies, processes, and business requirements to ensure that risk is sufficiently mitigated in BUSINESS.
• Act as point of reference for regulatory queries and breach, dispensation, and waiver requests.

Professional qualifications required:

• Proven technical expertise in the field of Financial Crime and, ideally ABC.
• Subject-matter expertise on the UK Bribery Act and US Foreign Corrupt Practices Act (FCPA).
• 8+ years working in Financial Services firm (or another highly regulated, complex, multi-national corporation) in a Compliance, Advisory, Risk or other control function.
• CPA-K/ACCA
• Certificate in Anti-Money Laundering Specialist (CAMS) / AML
• Professional memberships applicable to the area of expertise i.e. ACAMS