Job Purpose
To conduct in-depth investigations of clients and transactions, inclusive of high-risk Politically Exposed Persons (PEPs) or Politically Influential Persons (PIPs), related to terrorist financing, money laundering, bribery, corruption, other predicate offences or other suspicious activity, This is essential in order to contribute to the assurance that business is undertaken in a compliant manner to avoid operational losses, fines, penalties or reputational damage to the organisation
Key Responsibilities/Accountabilities
Product
• Execute product related activities in line with the agreed policies, procedures and service level agreements.
• Conduct in-depth analysis to ensure that the organisations’ products and services adhere to all relevant legislation and regulations.
Risk, Regulatory, Prudential & Compliance
• Stay abreast of, identify and report / escalate on any new and emerging trends in the legislative and regulatory environment, any product issues or any risks.
• Continuously maintain an understanding of policies, processes, procedures and systems and review said with the view to find better ways to execute tasks, improve systems, improve training material, improve MLS performance and to influence Standards.
• Maintain pro-active awareness of potential high-risk persons or entities through monitoring of open source information (e.g. press releases).
• Escalate all matters relating to high-risk customers and entities containing adverse information, complex and significant issues to line management for immediate action in order to avoid operational losses, fines, penalties or reputational damage to the organisation.
• Contribute to the periodic and ad-hoc system, process or data related reviews (e.g. rule tuning, systems verification, transaction monitoring, bank data testing, quality assurance reviews) as per the respective plans.
• Conduct in-depth investigations into money laundering and terrorist financing activities, Politically Exposed Persons (PEPs), Politically Influential Persons (PIPs) or Tip-Offs. Conduct enhanced analysis (analysing and evaluating complex account transactions and relationships) research and transaction monitoring to identify and analyse suspicious activities. Facilitate Freezing Orders or intervention orders immediately in conjunction with RIM to avoid severe losses or fines.
• Assess the independent risk profiles of clients as a second line-of-defense, in relation to consequential risks. Analyse information arising from negative news, customer identification and verification, to enable the drafting of accurate synopses for submission to law enforcement and regulatory authorities. Submit data, perform data analytics, identify & analyse trends consistent with money laundering, terrorist financing, & other suspicious activity & determine the impact on operations.
• Compile case notes and documentation to support a recommendation to file or not file a Client Risk Notification (CRN). Prepare and submit CRNs highlighting the risks associated with non-adherence to legislation and compliance requirements to business and other areas within the Bank. Evaluate risk implications on a continuous basis to highlight the inherent danger that this poses to the Bank.
• Collaborate with the Financial Intelligence Unit to address large scale or sensitive financial crimes, as they relate to specific requests issued by the FIU.
Technology & Architecture
• Understand the banking source and target systems and interpret the output in the surveillance, investigation and analysis processes.
Client
• Execute client facing activities, both internal and external, in line with the agreed policies, procedures and service level agreements.
• Provide expert advice and guidance to stakeholders and clients.
• Resolve queries regarding the analysis, information and reports.
Data
• Gather all sufficient and appropriate information from all available sources to ensure thorough analytics can be conducted.
• Analyse all information related to alerts and/or instructions received, via any method or form, in order to detect possible money laundering; terrorist financing; tax evasion; sanctions breaches, exchange control contraventions and any other legislative breaches.
• Capture findings and conclusions in the required reporting format and systems and prepare and submit outcomes as prescribed by relevant policies and procedures.
• Prepare statistics and other information as required for reporting, further investigation or auditing purposes.
• Escalate all high-risk, complex and/or significant issues to the line manager to ensure these matters are dealt with timeously and as per the standards set out it in the relevant functional framework.
• Store and manage all information and data on the required systems, in the required format and for the required duration as prescribed by the relevant data model and in adherence with the policies and procedures.
• Deliver holistically on all the regulatory and internal reporting requirements. Prepare reports on investigations, findings, conclusions, recommendations and to inform next steps. Discharge mandatory reporting obligations by reporting suspicious transactions to line management and the FIU. Compile regulatory and analytical reports for both internal stakeholders and Regulators.
Minimum Qualification and Experience
Qualification
National Certificate Internal Audit
Diploma/Advanced Certificates or Combination :Economics, Statistics, Business Commerce, Fraud Investigations, Investigations and
equivalent
Other Preferred Qualifications, certifications or professional memberships
Advanced certificates qualification in Business Commerce or Finance and Accounting or Audit or Banking or Risk Management or Legal would be acceptable. Anti-Money Laundering, Fraud Investigations or an equivalent Certification in Anti Financial Crime or Analytics would be an added advantage.
Experience
Experience in bank processes, products and systems. Experience in dealing with different stakeholders at different levels both internal and external 2-3 Years
Experience in the realm of Anti-Fraud, -Bribery, -Market Abuse, -Money Laundering and Combatting Financing of Terrorism Surveillance, Analytics and Investigation 3-4 Years