Specialist: International Fund Transfers (Anti Money Laundering)

Purpose Statement

• To proactively minimise Anti Money Laundering (AML) risk and exposure and protect the Bank through:
  • Providing specialist inputs to enhance the identification, monitoring and investigation of all cross-border, Foreign Exchange and Correspondent Bank transactions – in line with Capitec’s Risk Based Approach as envisaged in the Risk Management Compliance Program (RMCP).
  • Conducting transactional investigations and analysis of international funds transfers (IFTs)
  • Submitting intelligent reports to the Financial Intelligence Centre.
  • Ensuring that all relevant client screening is performed to understand Capitec’s risk exposure.
  • Implementing and administrating daily operational activities in line with legal and statutory requirements.

Experience

Minimum:

• No less than 6 years’ IFT Investigations and Correspondent Bank experience within a Financial / Business Banking environment with progressive specialist experience where judgement, decision making, and assessment were required. 
• Previous advisory role (subject matter expert) in a cross-border environment
• Exposure to Regulatory Reporting of STR’s, SAR’s, TPR’s, TFAR or TFTR’s

Ideal:

• 8+ years’ IFT Investigation and Reporting experience within a Financial / Business Banking environment.
• Experience in managing the operations of a function or department: business planning, budgeting, managing, and leading a team.
• 8+ years’ experience in Trade based business and Correspondent Banking. 
• 4+ years’ work experience in the business sector, other than within the Banking Environment. 

Qualifications (Minimum)

Qualifications (Ideal or Preferred)

Knowledge

Minimum: 

• In-depth knowledge of:
  • Regulations pertaining to anti-money laundering and combating of terrorist financing 
  • AML trends, typologies and red-flags, focussing on IFTs
  • Currency and Exchanges Manuals for Authorised Dealers
  • International Trade Based businesses and/or transactions
  • The SWIFT payment and Correspondent Banking practices
  • Sanction Screening for payments
  • Skilled in identifying IFT risk factors, the detection and reporting ML/TF and sanctions-related activities in business banking and financial services industry
  • Automated Transaction Monitoring
  • Daily regulatory IFTR reporting
  • Transactional investigation techniques and analysis
  • Business and commercial banking 
• Understanding of:
  • KYC requirements, Ongoing and Enhanced Due Diligence investigations, Customer Screening and Adverse Media Management. 
  • FinTechs / alternative payment platforms relating to IFT
  • Regulatory reporting, the compliance landscape and requirements.
  • Relevant regulatory framework (Financial Intelligence Centre Act 38 of 2001 (“FICA”), Protection of Constitutional Democracy Against Terrorist and Related Activities Act 33 of 2004 (“POCDATARA”), Prevention of Organised Crime Act 121 of 1998, and Dealers Handbook).

Ideal:

• Knowledge of the Capitec Bank environment
• Leadership Practices

Skills

Conditions of Employment