AML Analyst

Woolworths Financial Services; Cape Town; Hybrid; ZAR 500 000 - 700 000; Full time

Job summary

A prominent financial services firm located in Cape Town is seeking an experienced AML Analyst to monitor and analyze customer transactions for potential financial crimes. The role involves compiling detailed reports and ensuring compliance with AML regulations. Candidates should have at least 5 years of relevant experience, possess strong analytical skills, and be proficient in various compliance-related tools. A hybrid work model is supported, allowing for a balance between office and remote work.

Benefits

Hybrid working model

Opportunity for career development

Qualifications

• 5+ years of experience in financial institutions, preferably banks.
• Familiar with AML/KYC regulations and processes.
• Proficient in investigation methodologies.

Responsibilities

• Monitor and analyze transactions to detect financial crimes.
• Compile detailed reports for compliance and internal procedures.
• Conduct due diligence on clients and vendors.

Skills

Self-management

Time management

Communication skills

Flexibility under pressure

Education

LLB or BCom

AML certification (ICA or CAMS)

Tools

Microsoft Word

Microsoft Excel

OpenText

NetReveal

Job description

Woolworths Financial Services | Full time

AML Analyst

Cape Town, South Africa | Posted on 08/25/2025

Woolworths Financial Services, or WFS as it is better known, is a Joint Venture with Absa Bank, that supports the Woolworths retail business by providing in-store credit in the form of the Woolworths StoreCard and offering value-added services including credit cards, personal loans and short-term insurance as well as life insurance linked to other products.

Job Description

Woolworths Financial Services follows a Work-in-Hybrid work structure which requires employees to work from home for the majority of their time with some rotation into office.

Main Purpose:

The AML analyst is responsible for monitoring, analysing and reporting customer transactions and activities to detect and prevent money laundering, terrorist financing and other financial crimes. The role involves conducting thorough investigation, documenting findings and ensuring compliance with regulatory requirements. The AML analyst plays a crucial role in safeguarding the organization’s reputation and mitigating financial crime risks.

The main purpose of the role is to detect, investigate and report suspicious financial activity in alignment with AML regulations and to ensure compliance with the Financial Intelligence Centre Act 38 of 2001 and WFS AML, ABC, and Sanctions Policies, Standards and Procedures.

KEY RESPONSIBILITIES

• Identify and investigate automated and non-automated alerts and reports in terms of Sections 27, 28, 29, 32 and 34 of the Financial Intelligence Centre (FIC) Act on a daily basis and within the agreed SLAs
• Compile high quality investigations and reports which conform to internal procedures and regulatory requirements with comprehensive recommendations and client risk assessments that enable management and business to make informed decisions
• Use appropriate data analysis and information gathering techniques from internal and external sources to profile customers and complete required documentation
• Interact with clients to understand transactional activity in alignment with behavioural model
• Submit regulatory reports to the FIC
• Conduct onboarding, reviews and monitoring of Politically Exposed Persons and High Risk Clients
• Conduct due diligence on clients, vendors/suppliers and third parties
• Continuously enhancing the customer experience - relating to AML
• Perform Customer Acceptance Screening
• Execute and complete end-to-end customer engagement and correspondence using various channels (telephone, email, SMS etc.)
• Build working relationships across teams and functional lines to maintain collaborative relationships, drive innovation and ensure smooth flow of work aligned with regulatory requirements as set out by the Financial Intelligence Centre (FIC)
• Prepare daily/weekly/monthly MI reports
• Governance and oversight of various financial crime monitoring lists and generic mailboxes in alignment with financial crime standards and procedures
• Compilation of Key Risk information and timeous capturing thereof
• Administration of Employee Screening
• Maintain daily, weekly, and monthly statistics for reporting purposes
• Adhere to all WFS Policies, Standards and Procedures

KEY OUTPUTS

• Monitoring and Reporting (STRs, SARs, CTRs)
• Action Alerts and Reports (STRs, SARs, CTRs)
• Investigate and Research Alerts on PEPs (Onboarding, Reviews and ongoing monitoring)
• Conduct Due Diligence on donations, sponsorships or suppliers w.r.t CSI or Matching Fund
• Applications and WFS Sourcing Accurate Data Capturing
• Governance and Oversight of generic mailboxes
• Watchlist and Exit Tracker
• Employee Screening Administration
• Weekly Monitoring of Restrictive Control and Exit Accounts
• Management of FinCrime Lists / Fin Crime MI
• Stakeholder Management

REQUIREMENTS

KEY COMPETENCIES

• Must be self-managed, able to multi-task and cope with last minute demands
• Ability to work under pressure
• Deadline and results driven
• Excellent time management and communication skills
• Must be available to assist with testing as and when required (outside general business hours)
• Willingness to work flexible hours (outside general business hours)

FUNCTIONAL COMPETENCIES

• Call Centre Task and Processing Requirements
• Analysis of Adverse Media
• Knowledge of Inbound and Outbound Contact Centre processes, methodologies, systems, and technologies
• Tri-skilled product Knowledge (WFS and Absa Specific)
• General fraud knowledge
• WFS Processes
• Computer Literacy
• Business Writing

MINIMUM QUALIFICATION

• Relevant tertiary education includes any of the following: LLB or BCom
• Certified in AML and/or Compliance [International Compliance Association (ICA) or Certified Anti-Money Laundering Specialist (CAMS)].

EXPERIENCE REQUIRED

• 5+ years proven experience preferably within a bank or financial institution.
• Investigation methodology and techniques
• Basic regulatory principles and processes understanding
• Strong understanding of AML/KYC regulations, best practices and industry guidelines
• Experience in Money Laundering Control.
• Familiarity of the end-to-end KYC business and client on-boarding processes

ADDITIONAL REQUIREMENTS

• Knowledge of WFS Products
• Knowledge of Absa Systems.
• Knowledge of OpenText, Trim, Customer Central, eCASA, CAMS, Originations ITC, SLM, XDS, NetReveal, CPB, DEA, NetReveal and goAML.
• Excellent communication skills both written (including report writing) and verbal.
• Ability to clearly articulate results to a senior audience or variety of stakeholders
• Assist in the testing and implementation of new AML systems etc.
• Proficiency in Microsoft Word, PowerPoint, Excel and Outlook
• Knowledge of all AML, ABC and Sanctions Policies and Procedures including the KYC business process.
• Regulatory Awareness: understanding of AML regulations and compliance requirements
• Ability to handle and process information with discretion due to exposure to sensitive information and documents

Woolworths Financial Services is a proud South African brand, who is committed to transformation. Meeting our employment equity goals will be taken into account in our recruitment decisions.