Job Description

• Assisting and supporting the IDC, including relevant subsidiaries in complying with all local and international AML/CTF and Sanctions legislation (e.g. FATF recommendations 40+9, POCA, PRECCA, FICA, POCDATARA & Sanctions laws) applicable to the IDC.
• Facilitating the implementation, creating the required AML/CTF and Sanctions awareness; and
• Performing compliance reviews and assisting other assurance providers with their audits; remediating all issues of non-compliance and reporting to various Committees and statutory bodies

Qualification and ExperienceQualifications:

• LLB, BCom, or equivalent qualification.
• A certificate in Anti-Money Laundering Control.
• Accredited or certified member of the Compliance Institute of South Africa (CISA).
• CAMS Certification will be an added advantage.
• A certificate in compliance management will be an added advantage

Knowledge and Skills:

• At-least 8-10 years experience in the anti-money laundering control/ counter terror financing and sanctions environment.
• At least 5 years in management and leadership role.
• Sound experience in report writing and presentation.
• Knowledge of Siron system will be an added advantage.

Roles and ResponsibilitiesCOMPLIANCE RISK IDENTIFICATION AND ASSESSMENT

• To assist the IDC identify and comply with all applicable AML/CTF and Sanctions legislative requirements (e.g. FATF recommendations 40+9, POCA, PRECCA, FICA, POCDATARA, Sanctions Laws).
• To provide AML/CTF & Sanctions compliance advice to the SBUs/Dept.s (including subsidiaries) on the requirements stipulated within the AML/CTF & Sanctions legislation.
• To proactively identify potential breaches on AML/CTF & Sanctions, investigate compliance issues and/or irregularities and remediate.
• To compile and continuously update, manage and execute an IDC AML/CTF and Sanctions Compliance Coverage Plan, detailing the compliance risk identification, assessment, management, monitoring and reporting activities to be undertaken for the financial year.
• Prepare for presentation and approval by the Executive Management Committee (including the Board) of the AML annual compliance programme

COMPLIANCE RISK MANAGEMENTTo assist the IDC by performing

• AMLC (KYC/VYC) background/Sanctions listing searches, media searches, google searches, identification of DPEPs and FPEPs on FICA files of potential/new and existing clients including all other ancillary AML/CTF on-boarding and on-going customer due diligence (Pre and post investment) including all other related activities.
• Technical trend monitoring and investigating suspicious financial activity across the Corporation
• Data profiling and quality assessment sorting
• System fine-tuning and optimization and predictive ML/TF risk analytics
• Advanced customer segmentation and logic performance testing
• Drive the initiating and review of applicable systems and procedures to ensure that ML/TF data analytics and surveillance takes place at the correct points and in the right way in the value chain

COMPLIANCE RISK MONITORING

• To compile and regularly review AML/CTF and Sanctions Compliance Risk Management Plans (CRMP) for the applicable AMLC regulatory requirements per SBU/Dept.
• To plan, manage, conduct and/or facilitate AML/CTF and Sanctions compliance monitoring/audits (desktop/ on-site) (i.e. control adequacy reviews, control effectiveness reviews, control self-assessment questionnaires/sign-offs and/or control spot check/ inspections) on the applicable AML/CTF and Sanctions regulatory requirements.

Roles and Responsibilities (cont.)COMPLIANCE RISK REPORTING

• To compile and submit AML/CTF & Sanctions Compliance Risk Profile Reports to relevant SBUs/Depts.
• To compile and submit quarterly, bi-annual and annual AML/CTF & Sanctions Compliance reports, detailing the status of the Management of the compliance risks within the IDC.
• To report to management on the status of AML & Sanctions compliance within business, record non-compliance issues, generate business unit compliance reports, follow up on outstanding actions.
• To log all AML/CTF & Sanctions compliance findings on the Compliance Issues Log, manage and track progress made by the SBUs/Depts. in closing the findings and ensure that the Compliance Issues Log accurately reflects all amendments, supporting the integrity of the data reported on to the relevant governance committees.
• To ensure that all relevant reports in terms of FICA (or any other AML/CTF and Sanctions legislation) are submitted to the FIC and/or any other statutory body or law enforcement agencies.

COMPLIANCE AWARENESS AND TRAINING

• To communicate effectively, provide support and create awareness on AML/CTF and Sanctions legislation with Management and recommend improvements to minimise risk and recommend best practices.
• To train staff on AML/CTF and Sanctions legislation (e.g. FATF recommendations 40+9, POCA, PRECCA, FICA, POCDATARA & Sanctions laws) with the aim of establishing/ enhancing a culture of compliance within the IDC.
• To conduct on-going practical AML/CTF and Sanctions and Online AML/CTF and Sanctions training on all impacted SBU/Dept., including AML/CTF and Sanctions Compliance Alerts to communicate new AML/CTF and Sanctions new regulatory requirements.
• To stay abreast of amended and/or new AML/CTF and Sanctions regulatory requirements, and pro-actively identify and communicate the impact of the anticipated AMLC regulatory change on the IDC and its Business Units/Depts.

Industrial Development Corporation