AML Analyst

Sanlam; Wes-Kaap; On-site; ZAR 450,000 - 600,000; Full time

Job summary

A leading financial services firm in South Africa is seeking an AML Compliance Officer to manage client onboarding, conduct thorough KYC checks, and ensure compliance with AML regulations. The ideal candidate will have a bachelor's degree and at least 3 years of experience in the financial sector, especially in asset management. The role offers growth opportunities within a diverse and inclusive environment.

Benefits

Opportunities for growth and development

Inclusive workplace culture

Strong employee relationships

Qualifications

• At least 3 years of experience in AML/CFT in financial services.
• Experience with asset/investment management environments is advantageous.
• Familiarity with AML/CFT-, ABAC- and sanctions screening tools.

Responsibilities

• Perform client identification and verification of KYC/FICA documents.
• Manage client queries and escalate complex onboarding issues.
• Conduct adverse media, sanctions, and PEP screenings.

Skills

Administrative skills

Attention to detail

Communication skills

Analytical skills

Compliance knowledge

Education

Bachelor's degree in law, commerce, business science or related AML qualification

Tools

AML/CFT software

Risk management systems

Job description

Who we are?

Sanlam Investment Group

The Sanlam Investment Group is uniquely equipped and positioned to deliver on its purpose of empowering generations to be financially confident, secure and prosperous. Through our vast in-house expertise and strategic partner networks, we can access all asset classes across the globe, private and public, actively and passively managed, to develop investment solutions that are in our clients’ best interests and have a positive impact on society. Backed by the Sanlam Group’s balance sheet, the Sanlam Investment Group has a true competitive advantage in its ability to invest alongside clients, particularly in private markets where impact investing drives the agenda.

The Sanlam Investment Group is one of the largest, most diversified financial services and investment firms in Southern Africa with assets under management and administration of more than R2 trillion. It is a B-BBEE level 1 contributor and one of the largest black-empowered asset managers on the African continent.

Key Responsibilities

Client Onboarding

• Perform client identification and verification of KYC/FICA documents.
• Manage client queries and escalate complex onboarding issues where required.
• Conduct adverse media, sanctions, and PEP screenings.
• Perform initial client risk assessments and Enhanced Due Diligence (EDD) on high-risk clients, PEPs and RCAs.
• Escalate PEPs, RCAs, and high-risk clients to senior management and/or EDD committee for decision on the relationship/ transaction.
• Refer cases to Sanlam Investments AML Centre of Excellence; Compliance, or Sanlam Forensics when additional guidance is required.4
• Maintain accurate records of all onboarding documentation.
  
  

Ongoing Due Diligence (ODD)

• Maintain and update client information on ORMS and source systems.
• Conduct 1, 3, and 5-year periodic reviews per business standards.
• Manage due diligence trigger events and termination processes.
• Perform screenings at termination and update active/inactive statuses on ORMS and internal systems.
• Conduct annual maintenance screening and perform file drop processes in both test and production environments to determine accuracy of data.
• Investigate and clear potential PEP/adverse media hits from screening alerts.
• Re-risk rate clients (when applicable).
• Perform Due Diligence on third-parties.
• Conduct transaction monitoring.
• Conduct KYC/FICA validations related to third-party payments.
  
  

Projects

• Assist in remediation efforts and regulatory projects.
• Participate in User Acceptance Testing (UAT) for ORMS, AML System and DRA updates.
• Collaborate on Sanlam initiatives including AL/CFT/CPF and process changes.
  
  

Advice and Channels

• Provide AML/ODD guidance across Sanlam Investments Group (SIG), including onboarding, screenings, and documentation.
• Collate KYC/FICA files for audits and reviews.
• Respond to information requests from compliance and auditors.
• Generate internal and external management reports.
• Draft and maintain Standard Operating Procedure documents.
  
  

Regulatory Reporting and Risk Management

• Monitor, review, and respond to FIC regulatory requests and directives (s27, s32, s34, s35).
• Report STRs, SARs, TFTRs, and TFARs to the FIC within 15 days of suspicion.
• Submit TPRs (s28A), CTRs (s28), and IFTRs (s31) (where required) within legislated timeframes.
• Maintain accurate and auditable records for 5 years.
• Conduct investigations on STRs, SARs, TFTRs, and TFARs and escalate to the Suspicious Transaction and Unusual Activity Reporting Review Committee for decision making on whether to report.
  
  

Client Experience

• Ensure smooth onboarding aligned with client/ counterparty expectations.
• Respond to external due diligence requests and structure-related KYC queries.
  
  

Minimum Requirements

• Bachelor's degree in law, commerce or business science or any related AML, Risk Management, Governance or Compliance qualification.
• At least 3 years of experience in AML/CFT in the financial services sector - experience in an asset/investment management environment would be advantageous.
• Experience in working with AML/CFT-, ABAC-, sanctions- and financial crime risk management software and systems) will be a recommendation.
• Sound knowledge and proficiencies in the use of AML/CFT-, ABAC- and sanctions screening tools, analytical software solutions and investigative technologies.
  
  

Knowledge And Skills

• Compliance and legal related project management
• Compliance advice and training
• Documentation and reviews
• Risk Management
• Compliance monitoring and reporting knowledge and application experience of Financial Markets Legislation.
• Behaviour Competencies
• Strong administrative and organisational skills.
• Attention to detail, proactive approach and a lateral thinker.
• Good verbal and written communication skills.
• Ability to work independently as well as part of a team.
  
  

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Core Competencies

Cultivates innovation - Contributing independently

Customer focus - Contributing independently

Drives results - Contributing independently

Collaborates - Contributing independently

Being resilient - Contributing independently

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensure a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.