Manager: AML/CFT (Offsite)

Bomkazi Consulting; Gauteng; On-site; ZAR 1,400,000 - 2,100,000; Full time

Job summary

Bomkazi Consulting seeks an experienced AML/CFT leader to oversee an off-site supervision team ensuring compliance with the Financial Intelligence Centre Act using a risk-based approach in the financial services sector.

You will identify emerging ML/TF/PF risks, develop and refine supervisory tools and dashboards, and drive technology-enabled risk analytics while building strong relationships with stakeholders.

A postgraduate degree and extensive AML/CFT experience with leadership are expected.

Qualifications

• Postgraduate degree in Analytics, Business Management, Data Science, Finance, Law or related field.
• At least 10 years' AML/CFT compliance experience in financial services, supervisory body or regulatory environment.
• Minimum 2 years' experience in managing teams.

Responsibilities

• Lead and manage AML/CFT team for off-site supervision.
• Identify emerging ML/TF/PF risks across jurisdictions.
• Maintain risk-based supervisory tools for inspections.
• Develop and refine the risk-based supervisory framework.
• Manage annual supervisory calendar and stakeholder engagements.
• Drive technology-enabled risk analysis and dashboards.
• Oversee AML/CFT risk returns analysis.
• Lead development of AML/CFT guidance for stakeholders.
• Develop team capacity and stakeholder relationships.

Skills

Leadership

Stakeholder engagement

Communication

Analytical thinking

Problem solving

Strategic thinking

Education

Postgraduate degree in Analytics, Business Management, Data Science, Finance, Law or related field

Job description

The successful candidate will be responsible for the following key performance areas:

• Lead and manage an AML/CFT team responsible for conducting off-site supervision and assessing compliance with the requirements and standards of the Financial Intelligence Centre Act (FIC Act), applying a risk-based supervisory approach.
• Identify emerging and evolving Money Laundering, Terrorist Financing and Proliferation Financing (ML/TF/PF) risks, including risks in jurisdictions where South African banks and insurance entities operate.
• Maintain and enhance risk-based supervisory tools to inform the frequency, scope and duration of on-site inspections.
• Develop, maintain and continuously improve the risk-based supervisory manual and framework.
• Develop and manage the annual supervisory calendar, ensuring that off-site activities, inspections and stakeholder engagements are aligned with a risk-based approach.
• Drive innovation and the use of technology to strengthen risk-based supervision, statistical reporting and stakeholder engagement.
• Oversee the development and implementation of an AML/CFT/CPF dashboard to support risk analysis, monitoring and reporting.
• Ensure that AML/CFT risk returns are analysed accurately and within prescribed timeframes.
• Oversee periodic sector risk assessments within the banking and life insurance sectors.
• Lead the development and drafting of AML/CFT/CPF guidance for internal and external stakeholders to support the effective implementation of risk-based supervision.
• Manage the performance, capacity development and professional growth of the AML/CFT off-site supervision team.
• Build and maintain effective relationships with internal and external stakeholders to strengthen regulatory compliance and supervisory effectiveness.

Minimum Job Requirements

To be considered for this position, candidates must possess:

• A Postgraduate Degree in Analytics, Business Management, Data Science, Finance, Law or an equivalent qualification.
• At least 10 years' AML/CFT compliance-related working experience within the financial services sector, a supervisory body or a regulatory environment.
• A minimum of 2 years' experience in managing teams.

Additional Requirements and Competencies

Candidates should demonstrate the following:

• A qualification in Financial Crime, AML/CFT Compliance Management or a related field will be an added advantage.
• Sound understanding of the provisions and requirements of the Financial Intelligence Centre Act (FIC Act).
• Working knowledge of AML/CFT/CPF systems, products and risk management practices within the financial services sector.
• Excellent technical knowledge and understanding of the Risk-Based Approach (RBA).
• Good understanding of the financial services sector and key developments in banking, insurance and collective investment schemes, both locally and internationally.
• Understanding of regulatory supervision, prudential regulation and applicable legislation.
• Ability to combine specialist technical expertise with technology-driven approaches to strengthen risk-based supervision.
• Strong analytical, strategic thinking and problem-solving skills.
• Excellent leadership, stakeholder engagement and communication skills.