Principal Officer - Money Laundering Reporting Office at Safaricom Kenya

Brief Posting Description                     

Reporting to the Senior Manager - Money Laundering Reporting Office, the role holder will implement a robust transaction monitoring program to ensure timely detection, investigation and reporting of suspicious activities.

Job Responsibilities                 

• Define, test and deploy efficient transaction monitoring scenarios which trigger high quality alerts.
• Design and implement enhanced monitoring parameters for high-risk customers, partners, locations and corridors.
• Deploy machine learning models to ensure timely flagging of outlier behavior in local transactions and international money transfers.
• Automate processes to create efficiencies, improve compliance monitoring and ensure that AML/CFT risks are adequately mitigated.
• Implement an effective risk-based approach to AML compliance and ensure it is updated regularly.
• Maintain detailed knowledge of current AML laws, regulations and requirements while monitoring emerging trends or issues within the AML scope. This should drive changes to existing procedures.
• Perform regular review of AML/CFT controls to assess effectiveness and address emerging risks. This includes review of the following programs; customer and partner due diligence, sanction screening, transaction monitoring and suspicious activity reporting.
• Conduct ongoing reviews to ensure all operations comply with the AML policy and applicable laws or regulations.
• Report control weaknesses or lapses to senior management in a timely manner, recommend mitigation controls or process changes and follow up implementation of agreed actions.
• Carry out quarterly compliance reviews on M-PESA activities based on the signed off compliance methodology.
• Prepare regular reports to internal stakeholders and management on the state of compliance and follow through for resolution of any exceptions identified.
• Proactively identify risks in the assigned projects and follow up implementation of agreed mitigation controls.
• Active participation during audits by providing documents, explanations and walk-throughs.
• Follow up for timely implementation of recommendations made by internal and external auditors.
• Maintain strong working relationship with internal stakeholders such as Financial services, Big Data & Business Analytics, Regional Sales & Operations, Corporate Security, Corporate Affairs, Customer Operations and relevant departments to ensure that compliance issues are regularly discussed and addressed.

Job Requirements                   

• Bachelor’s degree or its equivalent
• AML certification (ACAMS or MICA)
• Good knowledge of money remittance and payment services
• At least 3 years’ experience in transaction monitoring
• Detailed knowledge of money laundering techniques, legislation and regulation
• Experience in automating processes, deploying and optimizing monitoring systems
• Good understanding of programming languages
• Exposure to big data analytics
• Effective communicator orally and in writing
• Team player who works effectively with others to deliver expected outcomes

Closing: 29 July 2022