AML Analyst

Complyxpert (PTY) Ltd; Cape Town; On-site; ZAR 300,000 - 400,000; Full time

Job summary

A financial compliance firm in Cape Town is seeking an AML Analyst responsible for conducting due diligence investigations, monitoring transactions for suspicious activities, and ensuring compliance with AML regulations. The ideal candidate has 2-3 years of experience in AML/KYC and a strong understanding of regulatory requirements. This position offers competitive benefits including medical aid and on-site refreshments.

Benefits

Group Risk Benefits (100% contribution)

Medical Aid with Discovery (100% contribution)

Gap Cover (100% contribution)

On-site barista and refreshments

On-site parking

Qualifications

• 2-3 years of experience in AML/KYC or compliance roles.
• Familiarity with compliance software.

Responsibilities

• Conduct due diligence investigations on customers.
• Monitor transactions for suspicious activities.
• Collaborate with internal teams on AML issues.
• Prepare reports for senior management and regulatory authorities.

Skills

Strong knowledge of AML/CFT and KYC regulations

Excellent written and verbal communication skills

Strong attention to detail

Analytical thinking

Ability to work in a fast-paced environment

Education

Matric or equivalent qualification

CAMS/ICA certification or University degree

Tools

Compliance software

Job description

JOB SUMMARY:

The AML Analyst is responsible for conducting due diligence investigations on customers, monitoring transactions for suspicious activities, and ensuring compliance with regulatory requirements related to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

The role involves analyzing complex financial data, identifying potential risks, and escalating any suspicious activities to the appropriate authorities.

Key Duties and Responsibilities, including but not limited to:

Processing:

• Verify and validate documentation and information supplied by customers when signing up for new accounts
• To aid the verification team as and when required
• To uphold and maintain daily and monthly targets
• Optimize and continuously improve SLAs regarding verification queues
  
  

Customer Due Diligence (CDD) and enhanced due diligence (EDD):

• Perform due diligence reviews on new and existing customers to ensure compliance with AML regulations
• To report any suspicious activities on customer accounts
• Conducting EDD for existing high-risk customers
• Ability to conduct initial and ongoing due diligence on high-risk customers
• Understanding of various typologies to circumvent risks associated with high-risk customers
• Conduct thorough investigations into customer backgrounds, financial activities, and sources of funds
• Analyze transactional data and identify patterns or anomalies that may indicate potential money laundering or other illicit activities
• Monitor and review alerts generated by AML monitoring systems and investigate any suspicious transactions or activities
• Document findings and maintain accurate records of AML/KYC reviews and investigations
  
  

Collaboration:

• Collaborate with internal teams, including compliance, legal, and risk management, to address AML issues and implement corrective actions
  
  

Compliance:

• Stay updated on regulatory developments, industry trends, and best practices in AML compliance
• Provide training and guidance to staff on AML policies, procedures, and regulatory requirements
• Assist in the development and enhancement of AML/KYC compliance programs and controls
  
  

Reporting:

• Prepare reports and presentations for senior management and regulatory authorities as required
• Keep up to date on any process and regulatory changes
• Assist on KYC reporting insights daily/weekly/monthly
• Understand, interpret, and analyze data for reporting purposes
• Meet with key business partners/leaders and conduct/sit in collaborations
  
  

Requirements

QUALIFICATIONS AND SKILLS:

• Minimum of Matric or equivalent qualification
• CAMS/ICA certification or University degree (preferred but not required)
• 2-3 years of experience in AML/KYC or compliance roles
• Strong knowledge of AML/CFT and KYC regulations
• Excellent written and verbal communication skills
• Strong attention to detail and analytical thinking
• Ability to work in a fast-paced and deadline-driven environment
• Familiarity with compliance software
  
  

Benefits

Group Risk Benefits (100% contribution)

Medical Aid with Discovery (100% contribution)

Gap Cover (100% contribution)

On-site barista and refreshments with breakfast, lunch and snacks

On-site parking