Compliance Specialist

Korakhoa Solutions; KwaZulu-Natal; On-site; ZAR 700,000 - 850,000; Full time

Benefits offered by this job

Room to negotiate

Job summary

Korakhoa Solutions in Umhlanga, South Africa is seeking a Compliance Specialist with 5–7 years’ FAIS/AML/CFT banking experience to join the Head Office team.

You will apply deep knowledge of the FIC and FAIS Acts, conduct analytics to detect financial crime, guide branches on regulatory requirements, and prepare reports for management. This role emphasizes data-driven risk assessment, training, and cross‑functional collaboration across teams to uphold compliance and trust.

Qualifications

• 5–7 years’ experience in FAIS/AML/CFT within banking.
• Knowledge of FIC and FAIS acts and subordinate legislation.
• Strong data analysis skills using Excel.
• Relevant legal/finance qualifications or compliance courses.

Responsibilities

• Guide and advise Branches on AML/CFT and FAIS requirements.
• Conduct compliance training as per the compliance training plan.
• Conduct compliance monitoring and testing, including providing recommendations and actions plans.
• Assist in filing of Cash threshold reports to the FIC on the goAML platform.
• Assist in managing all projects relating to the reporting to the FIC.
• Conduct investigations and file STRs/SARS to FIC on the goAML platform.
• Review and recommend for approval the opening of all high-risk accounts and reporting thereof.
• Reviewing and closing of transaction monitors.
• Prepare and submit monthly and quarterly reports to management on STR/SARS filed, high risk accounts, frozen accounts and the compliance monitors.
• Run and analyse compliance reports and interrogate data using Microsoft Excel to identify trends, anomalies and potential compliance risks, and provide clear insights to support management decision-making.
• Regularly review the Compliance Monitor’s functioning, quality of commentary and timeliness of clearing.
• Updating and managing SWIFT KYC Registry.

Skills

AML/CFT compliance

Regulatory knowledge

Data analysis

Attention to detail

Education

Legal/Finance qualification

Tools

Excel

Job description

Job Description

We are looking for an experienced Compliance Specialist to join our Head Office team in Umhlanga, South Africa.

If you have 5–7 years of banking compliance experience, deep knowledge of the FIC & FAIS Acts, and love diving into data analytics to stop financial crime, this is the role for you!

Key Duties and Responsibilities

• Guide and advise Branches on AML/CFT and FAIS requirements.
• Conduct compliance training as per the compliance training plan, when required.
• Conduct compliance monitoring and testing, including providing recommendations and actions plans.
• Assist in filing of Cash threshold reports to the FIC on the goAML platform.
• Assist in managing all projects relating to the reporting to the FIC.
• Conduct investigations and file STRs/SARS to FIC on the goAML platform.
• Review and recommend for approval the opening of all high-risk accounts and reporting thereof.
• Reviewing and closing of transaction monitors.
• Prepare and submit monthly and quarterly reports to management on STR/SARS filed, high risk accounts, frozen accounts and the compliance monitors.
• Run and analyse compliance reports and interrogate data using Microsoft Excel to identify trends, anomalies and potential compliance risks, and provide clear insights to support management decision-making.
• Regularly review the Compliance Monitor’s functioning, quality of commentary and timeliness of clearing.
• Updating and managing SWIFT KYC Registry.

Requirements

Desired Experience & Qualifications:

• 5-7 years’ experience in a FAIS and AML/CFT role in a banking institution.
• Legal/finance qualification/or similar and other compliance related courses/qualifications.
• In-depth knowledge of the FIC Act including all subordinate legislation and FAIS Act including all subordinate legislation is essential.

Competencies:

• Strong knowledge of AML/CFT, FIC Act, FAIS, KYC and regulatory compliance requirements.
• Effective presentation and facilitation skills, including the delivery of compliance awareness and training programmes.
• Strong analytical and investigative skills, supported by sound IT proficiency, including the ability to run reports and analyse data using Microsoft Excel spreadsheets, to identify, assess and mitigate compliance risks.
• Strong attention to detail and ability to review complex information with a high degree of accuracy.

Benefits

R700k - R850k p/a (Room to negotiate)

Requirements
Qualifications & Experience: Minimum of 5 + years core banking experience. Key Competencies: HPLUS proficiency. Operations Processes. Expertise in managing teams and coordinating cross-functional projects.