AML/KYC Specialist

Our client is a collective investment scheme in property which aims to provide investors with sustainable income. They are seeking an AML/KYC Specialist to join their company. The successful candidate will be advising on all legal matters relating to the prevention and detection of money laundering and the financing of terrorism.

Key responsibilities:

AML Compliance

• Ensuring that parties comply with all AML laws and regulations, including the Financial Intelligence Centre Act (FICA), the Prevention of Organised Crime Act (POCA), and related regulations issued by regulatory authorities such as the Financial Intelligence Centre (FIC).

Legal advisory services

• Providing legal advice and guidance to financial institutions, businesses, and other entities subject to AML regulations in South Africa, including banks, insurance companies, casinos, and designated non-financial businesses and professions.

Regulatory Compliance

• Ensuring that retirement funds comply with all regulatory requirements imposed by the Pension Funds Act, the Financial Sector Conduct Authority (FSCA), and other relevant legislation.

Policy Development:

• Developing and implementing AML policies, procedures, and controls tailored to their specific risk profiles and business operations, including customer due diligence (CDD), enhanced due diligence (EDD), and Know Your Customer (KYC) measures.

Transaction Monitoring:

• Overseeing the implementation and operation of transaction monitoring systems and processes to detect suspicious activities, unusual patterns, and potential money laundering or terrorist financing activities, and ensuring timely reporting to the relevant authorities.

Investigations and Due Diligence:

• Conducting internal investigations and due diligence reviews in response to suspicions or allegations of money laundering, fraud, corruption, or other financial crimes.

Education:

• Bachelor of Laws (LLB)
• Admitted Attorney

Experience:

• Completed articles with a reputable law firm
• Admitted as a legal practitioner in the High Court of South Africa
• Stable career history.
• Good working knowledge on AML and KYC

Competencies:

• Strong leadership skills.
• Ability to create a network of contacts across various disciplines.
• Build morale/ personal esteem and generally encourage others to give their best performance.
• Confident and influential.
• Creative and flexible decision-making ability.
• Ability to maintain relationships and develop a sense of trust within the team.

Key performance areas:

• Ensuring the integrity, accuracy and reliability of all work
• Meeting all reporting deadlines
• Compliance with relevant laws and regulations
• Keep abreast with global best practice/trends