Senior Manager: Transaction Monitoring

Absa Group; Johannesburg; On-site; ZAR 400,000 - 650,000; Full time

Job summary

Absa Group seeks a leader in Financial Crime Transaction Monitoring to supervise compliance efforts and manage a specialized team. This role is critical for enhancing transaction monitoring processes and ensuring adherence to regulations while fostering a proactive corporate culture. Ideal candidates will have relevant degrees and significant experience in financial crime controls.

Benefits

Equal opportunity employer

Diversity promotion

Qualifications

• Required Bachelor's Degrees and Advanced Diplomas in relevant fields.
• Experience in Financial Crime Compliance and regulation necessary.
• Strong analytical skills and leadership experience preferred.

Responsibilities

• Manage transaction monitoring and ensure compliance with regulations.
• Lead a team of investigators to handle financial crime risks.
• Analyze reporting statistics for efficiency improvements.

Skills

Financial Crime Compliance

Team Leadership

Regulatory Reporting

Risk Management

Stakeholder Management

Education

Bachelor’s Degree or Advanced Diploma 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 a strong position 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.

Job Summary

Take accountability for Financial Crime Transaction Monitoring for Absa South Africa and lead a team of specialist investigators and team leaders to ensure compliance with all relevant legislative and regulatory requirements.

Job Description

Oversight, Operational Support and Coordination:

Be responsible for all aspects of transaction monitoring (“TM”), surveillance, and reporting. Implement strategic direction and intelligence-led TM activities across the Absa Group (South Africa and ARO countries) to manage financial crime and terrorist financing risks effectively, ensuring compliance with regulations, policies, and standards.

• Establish and improve an effective TM control environment with automated and non-automated referral streams.
• Enhance the non-ATMS control environment in effectiveness, efficiency, and coverage.
• Develop data-driven methods to evaluate TM effectiveness.
• Lead regulatory reporting, information requests, and inspections related to TM.
• Create a work environment where colleagues embody Financial Crime Values, understand expectations, and are empowered to deliver.
• Foster a culture of proactive delivery that exceeds role expectations, positively impacting financial crime controls.
• Ensure TM Standards are documented, approved, and implemented, with oversight through management reports and quality assurance.
• Design and oversee processes for daily TM alert investigations and reporting to meet regulatory timeframes.

Team Management:

• Ensure sufficient resources and capacity within the team.
• Plan and monitor annual leave and capacity during peak periods.
• Set and review development objectives, talent profiles, and retention plans for team members.
• Ensure timely completion of training for all team members.

Reporting and Governance:

• Analyze reporting statistics for efficiency and propose improvements.
• Report and escalate TM risks and issues promptly.
• Provide comprehensive TM reports and develop action plans for issues.
• Track and close audit findings within deadlines.
• Participate in governance forums, providing input and guidance.
• Ensure accurate and timely reporting of all TM-related Key Risk Indicators.
• Stay updated on developments in the field and pursue personal development.

People Management:

• Lead recruitment and HR decisions for the team.
• Design and implement training programs, ensuring compliance with policies.
• Mentor analysts on complex investigations.
• Contribute to training material development and team-building initiatives.

Reporting:

• Ensure timely submission of statistical reports to relevant authorities and internal stakeholders.
• Identify and document emerging trends and typologies related to Money Laundering.
• Handle ad hoc requests related to Suspicious Transaction Reporting and internal projects.

Stakeholder Management:

• Build and maintain relationships with the Financial Intelligence Centre and other key stakeholders.
• Provide guidance to Group Money Laundering Control Representatives and collaborate with IT and system owners.

Education

Bachelor’s Degrees and Advanced Diplomas in Business, Commerce, and Management Studies are required.

Absa Bank Limited is an equal opportunity, affirmative action employer. Preference will be given to suitable candidates from designated groups to promote workforce diversity.

Absa Bank Limited reserves the right not to appoint to the advertised position.