AML Manager

Job Classification

REQ: 118862 - Refilwe Falatsi
Division: Nedbank Insurance - Functional Area (Governance)
Closing Date: 10 February 2023
Employment Equity Statement: Preference will be given to individuals from underrepresented groups.

Job Family

Risk, Audit and Compliance

Career Stream

Regulatory Compliance

Leadership Pipeline

Manage Self: Professional

FAIS Affected

Job Purpose

To consult on and advise the business area regarding relevant domestic and international Anti-Money Laundering and Terrorist Financing legislation; risk, compliance and governance to ensure abidance to relevant codes; regulations and rules thereby minimising risk to and protecting the reputation of Nedbank.

Job Responsibilities

Advise business on best practice for AML/TF by ensuring the business is educated on the compliance culture and by creating awareness around AML/TF implication of daily duties.
Support the central function by assisting in developing of policies, procedures, frameworks and tools with specific focus on relevant risk legislation, for the benefit of the larger organisation.
Define governance frameworks and ensure good governance practice.
Ensure business committees operate according to required business governance standards through regular engagement.
Assess committees adherence to the governance requirements.
Ensure AML/TF standards are met and risks are mitigated.
Identify, define and agree on the regulatory universe applicable for each relevant Business Unit, mitigating risks.
Conduct Finance Crime risk and control self-assessments (RCSA's)
Mitigate risk and applicability to business.
Ensure that AML/TF is adequately addressed.
Test whether the business control is effective and adequate and ensure that business policies contain the right content addressing legislative requirements.
Advise business of changes and identify potential impact of these changes on the business.
Influence the enhancement of business processes and methodologies.
Prevent AML/TF breaches and reputational risk from occurring, which could result in financial penalties.
Ensure awareness of business AML/TF status.
Promote and facilitate cross Cluster engagement, manage and improve business efficiencies.
Engage with stakeholders on findings of Financial crime risk and control assessments.
Enable management to make informed decisions and prevent AML/TF breaches.
Ensure that stakeholders relationships are effectively managed.
Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.
Stay abreast of developments in field of expertise, ensuring personal and professional growth.
Understand and embrace the Nedbank vision and values, leading by example.
Ensure upskilling and effective handover to relevant responsible person.
Manage performance through training, development and addressing poor performance via HR channels.
Educate self-regarding business, through engagement, meetings, procedures and policy awareness.
Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI.

People Specification

Essential Qualification

Bachelor's Degree in Commerce, Business Science, Law, Risk or Compliance
Matric / National Senior Certificate

Essential Certifications

Compliance Institute of South Africa preferred

Minimum Experience Level

Mandatory experience in an Anti Money Laundering (AML) Specialist function experience
3 - 5 years Insurance experience preferable
Regulatory Advisory capacity for 5 - 10 years experience

Technical / Professional Knowledge