Financial Crime Manager: Investigations & Surveillance

Absa Group; South Africa; Remote; ZAR 400 000 - 600 000; Full time

Job summary

A leading financial institution in South Africa seeks a professional to manage Anti Money Laundering investigations. Responsibilities include ensuring compliance with regulations, analyzing suspicious activity, and supporting the development of strategies to combat financial crime. Required is a higher diploma in Business, Commerce, or Management Studies. This role is crucial in safeguarding the integrity of financial transactions.

Qualifications

• Proven experience in Anti Money Laundering and Fraud Risk Management.
• Higher diploma or degree in relevant field is required.
• Strong analytical skills to assess evidence and trends.

Responsibilities

• Manage investigations related to Anti Money Laundering.
• Ensure compliance with regulatory requirements.
• Evaluate findings and escalate significant issues.

Skills

Anti Money Laundering

Fraud Risk Management

Regulatory Compliance

Investigative Skills

Risk Management

Education

Higher Diplomas in Business, Commerce and Management Studies

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools and support to unlock your potential. You are Absa.You are possibility.

Job Summary

The role holder will be responsible for proactively managing transaction monitoring, sanctions and reporting are performed in accordance with local legislation, policy, and standards requirements. Responsible to perform investigations to substantiate any Money Laundering, Sanctions, Bribery and Corruption concerns. Enabling business units to deliver the best possible business strategy/objectives and customer experience.

Job Description

Accountability: Fraud Risk Management and Monitoring 80%

• Manage investigations relating to Anti Money Laundering by ensuring that the required SLA is achieved and take appropriate action to ensure that these timelines are met.
• Ensure that appropriate processes are designed and implemented in order to manage the contracted services with ARO for Transaction Monitoring and Sanctions alerts for investigation and reporting purposes.
• Obtain all relevant evidence related to an investigation. Scrutinise and analyse this evidence and make meaningful observations / conclusions regarding the findings.
• Assess all findings in order to establish trends and elevate all issues of a significant nature to the Head of Financial Crime and/or Money Laundering Reporting Officer on a timely basis (as and when these occur) and through various meetings and reports.
• Pro‑actively elevate to Money Laundering Reporting Officer through the Head of Financial Crime any sensitive financial crime related matters impacting the business
• Evaluate and challenge information received from the local and in country teams with the objective of achieving continuous improvement in compliance.
• Analyse alerts to determine whether a suspicious and unusual transaction report should be submitted to the FIU in terms of the AML CFT Act.
• Report and exhibit all AML compliance, Sanctions risks and issues arising from businesses promptly and appropriately in accordance with Group and local legal and regulatory requirements.
• To lead the review and monitoring of suspicious transactions in accordance with the requirements of the Absa Risk Management and Compliance Programmes and local standards or regulations.
• Support through the engagement with ARO Transaction Monitoring and Sanction teams by ensuring the effective coordination of information on a continuous basis.
• Ensure that appropriate processes and controls are designed and implemented in order
• to comply with all regulatory requests and instructions
• Ensure timely completion and delivery of statistics for the consolidation of reports as part of the Regulatory returns, various forums and internal status reports.
• Support with the follow up on the implementation of action plans to resolve all issues identified in audits and assurance reviews for AML/ABC/Sanction and monitor completion of remedial activities and inform the Head of Financial Crime on the progress.
• Support execute on the alignment of the in‑country Financial Crime project portfolio.
• Support expedite delivery on key decisions affecting execution projects.
• To support the development and implementation of a proactive strategy to combat money laundering, sanctions breaking and other financial crime issues.
• To support the development of compliant, flexible and robust systems, procedures and controls to deliver to the business anti‑money laundering objectives and improve the business performance in these areas.
• Develop action plans based on findings in suspicious transaction reviews and monitor execution of such plans.
• Perform all other duties as reasonably assigned.

Risk and Control: Time split 20%

• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise‑Wide Risk Management Framework and internal Absa Policies and Policy Standards.
• Understand and manage risks and risk events (incidents) relevant to the role.
• Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture.

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)