AML Alerts Analyst

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Job Description

The AML Analyst at OM Bank is an entry-level role responsible for supporting the bank's compliance with Anti-Money Laundering (AML) regulations. The role involves monitoring transactions, conducting investigations on account opening alerts and transactions, and ensuring adherence to AML policies and procedures.

KEY RESULT AREAS

Monitoring and Analysis on account opening and transactions:

1. Performing customer reviews on account opening alerts, as well as selected CDD/EDD procedures on a periodic basis; Review and analyse transactional data to detect suspicious activity patterns.
2. Investigate potential fraud or money laundering cases flagged by monitoring systems.
3. Identify anomalies or trends that may indicate fraudulent activities.

Investigation and Reporting:

1. Conduct in-depth investigations of suspicious activities.
2. Prepare detailed reports, including but not limited to, Suspicious Activity Reports (SARs) for regulatory submission.
3. Document findings and recommendations for remediation actions.

Compliance and Regulatory Adherence:

1. Ensure adherence to AML laws, regulations, and internal policies.
2. Stay updated on relevant laws, regulations, and industry best practices related to AML and fraud.
3. Assist with audits and regulatory examinations.

Risk Mitigation:

1. Collaborate with internal teams to design and implement strategies to minimize fraud and money laundering risks.
2. Recommend process improvements and controls to enhance the organization’s fraud prevention measures.

ROLE REQUIREMENTS

Qualifications and Skills:

1. Education: Bachelor’s degree in Finance, Accounting, Law, or a related field.
2. Experience: Proven experience in AML, fraud detection, or a related compliance role.
3. Familiarity with financial systems and transactional analysis.
4. Skills: Strong analytical and investigative skills.
5. Proficiency in tools such as Excel and AML software.
6. Excellent written and verbal communication.
7. Ability to handle sensitive information with discretion.
8. Certifications: Preferred certifications include CAMS (Certified Anti-Money Laundering Specialist).

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit.

Closing Date: 02 May 2025, 23:59