AML Onboarding Officer Legal / LLB background for law firm Sandton

Innov8 Recruitment; Sandton; On-site; ZAR 800 000 - 1 200 000; Full time

Job summary

A compliance consulting firm in South Africa is seeking a Senior AML Onboarding Officer with an LLB degree. The role involves managing client data, conducting due diligence, and overseeing compliance with AML regulations. Ideal candidates should have at least 4 years of experience in AML compliance. This position offers competitive remuneration and the opportunity to work with high-profile clients.

Qualifications

• Admitted attorney with at least 4 years' experience in an AML compliance environment.
• Experience onboarding large corporate clients with complex ownership structures.

Responsibilities

• Assist with FIC Act obligations related to AML.
• Conduct thorough client data captures and reviews.
• Prepare EDD templates for high-risk clients.

Skills

Analytical thinking

Attention to detail

Time management

Problem-solving

Presentation skills

Education

LLB Degree

ACAMS qualification

Post-Graduate Diploma in Compliance

Risk Management qualification

Job description

Senior AML Onboarding Officer - Legal background LLB degree

The main purpose of the role is to assist with the following :

• To assist the Firm with discharging its obligations under the FIC Act;
• FICA Remediation Projects (including remediating deficient client data and remediation of existing client population);
• Attend to client reviews (including ad hoc and periodic reviews);
• Assist junior onboarding officers;
• Sign-off on certain onboarding matters;
• Manage the outstanding CDD and EDD requirements with lawyers and secretaries on a monthly basis;
• Reporting on CDD and EDD matters (progress and status updates);
• Compiling reports for submission to the Risk and Compliance Committee;
• Escalate certain matters to the GC, Head of Risk and Compliance and the Risk Committee;
• Conduct research on AML trends and typologies and propose enhancements to processes and controls;
• Conduct Country Risk research and update the Country Master Data Tables on a regular basis;
• Assist the Compliance Risk Manager and General Counsel, Head of Risk and Compliance with general AML portfolio management;

Conducting AML Typology research and trends on a regular basis and assist with the review and maintenance of the RBA Framework; and

Conducting country risk research and updating the Firm's Country Risk Master Data Table on a regular basis.

The key responsibilities and duties :

• Accurately capture client data on the onboarding system;
• Conduct CDD in respect of clients;
• Conduct ad hoc and periodic reviews on existing client population;
• Conduct research in respect of various sources (eg CIPC, Department of Home Affairs, Who owns Whom, etc);
• Conduct Country Risk research and update the Country Master Data Table on a regular basis;
• Analyse sanctions, PEP and adverse media alerts on the system when onboarding clients and conducting client reviews. Distinguish between 'False Positives' and 'True Matches';
• Conduct EDD in respect of high-risk clients (including summarising adverse media reports, PEP assessments and review of sanctions against individuals, entities and countries);
• Prepare EDD templates for high-risk clients and submit same to the Risk Committee for consideration. Action the decision of the Risk Committee;
• Liaise with lawyers and secretaries to obtain outstanding CDD and EDD information;
• Attend to daily alerts raised by the onboarding system once ongoing screening is implemented to determine whether or not they are 'false positives';
• Ensure that CDD information is current when new matters are opened for existing clients. Update existing clients' CDD information and re-screen and re-rate existing clients with new matters;
• Analyse constitutive documents of entity type clients, share registers, shareholder agreements, etc. in order to determine the BOs for entity type clients and document evidence in respect of same;
• Ensure that regulatory reporting, eg. Cash Threshold Reports (CTRs) and Suspicious Transaction Reports (STRs) are lodged within the prescribed time-frames;
• Assist with the development and maintenance of the Firm's internal screening list;
• Ensure that all onboarding and reviews comply with the Firm's RMCP;
• Develop AML training material and facilitate training sessions;

Compile reports for the HoD and the Risk and Compliance Committee; and

Assist with various AML compliance projects and any other AML-related tasks as assigned.

Qualifications and experience :

Qualifications :

LLB Degree. An admitted attorney with at least 4 years' experience in an AML / FICA compliance environment or in any compliance risk management environment; or

Qualifications or knowledge of the following subjects are advantageous :

Anti-money laundering certificates or ACAMS qualification; or

Post-Graduate Diploma in Compliance or Certificate in compliance; or

Risk Management qualification.

Personal attributes

• Good presentation skills;
• Above average attention to detail;
• Good time management and problem-solving skills;
• Must have an analytical mind; and more importantly have the ability to devise solutions to problems / shortcomings;

Ability to work under pressure.

Candidates must have experience in onboarding large corporate clients with complex ownership structures.

Other experience required :

For the legal candidate, it must be an admitted attorney. Any other experience (eg legal advisor, general compliance, other AML role (ie excluding onboarding), risk role, etc)

Salary and bonuses.

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