(963) Manager : Aml / Cft (Offsite)

Brief description: To manage the off-site AML / CFT / CPF supervision function within the Prudential Authority (PA) to ensure that efficient and effective risk-based supervision is undertaken in execution of the PA's supervisory duties as defined in the Financial Intelligence Centre Act, (Act No. 38 of ) (FIC Act).

Detailed description: The successful candidates will be responsible for, among other tasks, the following:

1. To lead and manage an AML / CFT team responsible for conducting off-site supervision pertaining to compliance with the provisions of the FIC Act with regard to anti-money laundering (AML) and the combating of the financing of terrorism (CFT); and undertaking reviews to assess compliance with AML / CFT requirements and standards, with the application of a risk-based approach.
2. To identify new and emerging ML / TF / PF risks, including those in jurisdictions where South African banks and insurers have operations, including the maintenance of the risk-based tool and ensuring that information is incorporated into the risk-based tool that will inform the frequency and duration of onsite inspections.
3. To develop and maintain the risk-based supervisory manual and framework.
4. To compile the annual supervisory calendar taking into account work of the off-site team which must be reflective of a risk-based approach; which includes inspections as well as other supervisory engagements.
5. To ensure that the AML / CFT risk returns are analysed timeously and that sector risk assessments are being conducted on a periodic basis for the banking and life insurance sector.
6. To oversee the drafting of AML / CFT / CPF guidance for internal and external stakeholders to ensure effective implementation of a risk-based approach.
7. To manage the provision of management information in respect of the progress of remedial action and research.
8. To review and provide first level approval of the AML / CFT / CPF risk inputs of the team into the pre-inspection documentation.
9. To manage the development and maintenance of relevant procedures and processes for conducting inspections.
10. To manage off-site monitoring activities performed by the team.
11. To manage the performance and development of the AML / CFT off-site team.
12. To introduce innovation and drive the use of technology to inform risk-based supervision, collation of statistics, engagement with external stakeholders, creation of an AML / CFT / CPF dashboard for analysis and reporting purposes.
13. To ensure that the first-class standard of AML / CFT best practice off-site supervision is conducted.