AML Analyst (SP5) - Risk Management
Listing reference: capbw_002243
Listing status: Online
Apply by: 23 February 2025
Position summary
Industry: Banking
Job category: Banking, Finance, Insurance. Stockbroking
Location: Windhoek
Contract: Permanent
Remuneration: Market Related
EE position: No
Introduction
The AML Analyst is responsible for the efficient identification and monitoring of suspicious activities and transactions in the Bank. They are also responsible for the timeous reporting of suspicious transactions and activities to the Financial Intelligence Centre and further assist with money laundering related queries received from Corresponding Banks. They are also responsible for the identification of staff training requirements and assisting in the development of training material. They also assist in the development of AML related processes and procedures.
Job description
KEY PERFORMANCE AREAS
• Investigate and assess alerts for potential money laundering / terrorist and proliferation financing risks in the Bank.
• Ensure efficient identification and monitoring of suspicious activities and transactions.
• Ensure timely reporting of suspicious activities and transactions to the Financial Intelligence Centre.
• Maintain current understanding of money laundering/terrorist and proliferation financing issues, including policies, procedures, regulations, industry best practice, financial crime typologies and developing trends.
• As an AML subject matter expert provide direction and guidance to employees on appropriate remediation action for high-risk accounts.
• Timely execution of instructions received from Management and/or the Financial Intelligence Centre and/or other law enforcement agencies.
• Assist with money laundering related queries/questionnaires received from Corresponding Banks.
• Conduct research and prepare reports when required by management.
• Ensure efficient identification and monitoring of suspicious activities and transactions.
• Ensure timely reporting of suspicious activities and transactions to the Financial Intelligence Centre.
• Maintain current understanding of money laundering/terrorist and proliferation financing issues, including policies, procedures, regulations, industry best practice, financial crime typologies and developing trends.
• As an AML subject matter expert provide direction and guidance to employees on appropriate remediation action for high-risk accounts.
• Timely execution of instructions received from Management and/or the Financial Intelligence Centre and/or other law enforcement agencies.
• Assist with money laundering related queries/questionnaires received from Corresponding Banks.
• Conduct research and prepare reports when required by management.
Monitoring of the client screening application (investigation and analysis)
• Monitor and review alerts generated by the client screening system (PIP, Sanctions and Adverse media) and conduct appropriate reviews to facilitate closure of alerts or further investigation/reporting.
• Escalation of true matches to management and branches for enhanced due diligence.
• Ensure efficient monitoring and reporting of clients considered high risk.
• Weekly assessment AML reports relating to ongoing monitoring of high-risk accounts. Help in identifying potential weaknesses in processes.
• Act as a subject matter expert to employees, providing guidance on what actions to take in dealing with high-risk accounts related to PIPs, Sanctions and Adverse media customers.
• Assist with sanctions screening of third-party suppliers and affiliates.
• Perform testing of changes made to the client screening system.
• Monitor and review alerts generated by the client screening system (PIP, Sanctions and Adverse media) and conduct appropriate reviews to facilitate closure of alerts or further investigation/reporting.
• Escalation of true matches to management and branches for enhanced due diligence.
• Ensure efficient monitoring and reporting of clients considered high risk.
• Weekly assessment AML reports relating to ongoing monitoring of high-risk accounts. Help in identifying potential weaknesses in processes.
• Act as a subject matter expert to employees, providing guidance on what actions to take in dealing with high-risk accounts related to PIPs, Sanctions and Adverse media customers.
• Assist with sanctions screening of third-party suppliers and affiliates.
• Perform testing of changes made to the client screening system.
Monitoring of transactions screening applications (Local and Cross Border)
• Monitor cases generated by the transaction screening system and conduct appropriate reviews to facilitate closure of cases or further investigation / reporting.
• Perform investigations where there are ML/TF/PF suspicions regarding clients’ transactions, activities and/or matters with a holistic review, adequate data and recording evidence to detect any suspicious transaction. Additionally, Escalate findings clearly and concisely for internal review by the Senior Analyst and/ or Manager: AML Compliance.
• Obtain documentary evidence of suspicious transactions and activities and ensure effective record keeping of suspicious transaction / activities identified and reported to the Financial Intelligence Centre in line with the regulatory requirements.
• Daily investigations of client threshold reports relating to potential suspicious activity.
• Prepare suspicious activity reports (SARs) and suspicious transaction reports (STRs) /Additional Information Files (AIFs), when required.
• Preparation and Submission of Daily XML (EFT/IFT/CTR) reports.
• Monitor cases generated by the transaction screening system and conduct appropriate reviews to facilitate closure of cases or further investigation / reporting.
• Perform investigations where there are ML/TF/PF suspicions regarding clients’ transactions, activities and/or matters with a holistic review, adequate data and recording evidence to detect any suspicious transaction. Additionally, Escalate findings clearly and concisely for internal review by the Senior Analyst and/ or Manager: AML Compliance.
• Obtain documentary evidence of suspicious transactions and activities and ensure effective record keeping of suspicious transaction / activities identified and reported to the Financial Intelligence Centre in line with the regulatory requirements.
• Daily investigations of client threshold reports relating to potential suspicious activity.
• Prepare suspicious activity reports (SARs) and suspicious transaction reports (STRs) /Additional Information Files (AIFs), when required.
• Preparation and Submission of Daily XML (EFT/IFT/CTR) reports.
Review of SDA transactions/ Trade Services Documents/ Business Queries
• Timeous review of SDA transaction above a determined threshold to determine if such a transaction is in line with the financial profile of the client and if adequate documents have been obtained to mitigate the ML/TF and PF risks.
• Timeous review of SDA transaction above a determined threshold to determine if such a transaction is in line with the financial profile of the client and if adequate documents have been obtained to mitigate the ML/TF and PF risks.
Monitoring of high-risk business relationships
• Monitor the high-risk business relationships and ensure that enhanced due diligence is performed at on-boarding and during the business relationship.
• Maintain statistics for high-risk business relationships.
• Monitor the high-risk business relationships and ensure that enhanced due diligence is performed at on-boarding and during the business relationship.
• Maintain statistics for high-risk business relationships.
KYC – Correspondent Banking Relationships
• Timely completion of correspondent banking questionnaires and queries.
• Timely escalation to management of all correspondent banking issues.
• Annual review of correspondent bank’s due diligence.
• Timely completion of correspondent banking questionnaires and queries.
• Timely escalation to management of all correspondent banking issues.
• Annual review of correspondent bank’s due diligence.
Regulatory Engagement
• Maintain a sound relationship with the FIC.
• Timeously attend to queries as required by the Financial Intelligence Centre and Bank of Namibia or relevant Law Enforcement Agencies (includes execution of intervention orders).
• Attend FIC & Industry meetings if specifically requested by Management.
• Maintain a sound relationship with the FIC.
• Timeously attend to queries as required by the Financial Intelligence Centre and Bank of Namibia or relevant Law Enforcement Agencies (includes execution of intervention orders).
• Attend FIC & Industry meetings if specifically requested by Management.
AML/CFT/CPF Training
• Conduct AML/CFT/CPF related training.
• Conduct AML/CFT/CPF related training.
General
• Assist with any other AML Compliance related matters or projects as identified and assigned by the Management.
• Stay current with money laundering and terrorist financing behaviors, issues, policies, regulations, criminal typologies, industry best practices, and developing trends
• Ensure proper record-keeping of data collected and analyzed in performance of duties.
• Assist with any other AML Compliance related matters or projects as identified and assigned by the Management.
• Stay current with money laundering and terrorist financing behaviors, issues, policies, regulations, criminal typologies, industry best practices, and developing trends
• Ensure proper record-keeping of data collected and analyzed in performance of duties.
Core Competencies
• Logical thinking /reasoning
• Strong attention to detail
• Ability to work under minimal supervision
• Emotional maturity
• Self-starter and dedicated
• Strong organization and time management skills
• Strong critical thinking and analytical skills
• Logical thinking /reasoning
• Strong attention to detail
• Ability to work under minimal supervision
• Emotional maturity
• Self-starter and dedicated
• Strong organization and time management skills
• Strong critical thinking and analytical skills
Minimum requirements
Experience/Knowledge & Skills
• Minimum of three years’ experience in financial services data analysis. AML Compliance specific experience preferred.
• Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal and organizational skills.
• Computer literacy essential.
• Strong database skills, including working with advanced data sets, pivot tables, advanced database and statistical functions and methods.
• Strong technical skills.
• General understanding of marketplace AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful.
• Strong ability to quickly grasp and understand business unit specific AML risks, develop comprehensive user requirements, and provide recommendations for appropriate automated solutions to mitigate those risks.
• Minimum of three years’ experience in financial services data analysis. AML Compliance specific experience preferred.
• Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal and organizational skills.
• Computer literacy essential.
• Strong database skills, including working with advanced data sets, pivot tables, advanced database and statistical functions and methods.
• Strong technical skills.
• General understanding of marketplace AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful.
• Strong ability to quickly grasp and understand business unit specific AML risks, develop comprehensive user requirements, and provide recommendations for appropriate automated solutions to mitigate those risks.
Qualifications
• Bachelor’s degree or higher education level.
• Diploma in Anti Money Laundering or related field will be distinct advantage.
• Certification in a professional association such as the Association of Certified Anti- Money Laundering Specialists (ACAMS) would be a distinct advantage.
• Bachelor’s degree or higher education level.
• Diploma in Anti Money Laundering or related field will be distinct advantage.
• Certification in a professional association such as the Association of Certified Anti- Money Laundering Specialists (ACAMS) would be a distinct advantage.
