Specialist: AML Due Diligence

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Date: 24 Jan 2025

Location: Stellenbosch, Western Cape, ZA

Company: Capitec Bank Ltd

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We're on the lookout for energetic, self-motivated individuals who share our passion for service in the banking industry. To be part of the journey, follow the steps below:

1. To see what life at Capitec is all about and complete a short assessment, please click here!

2.  Once you have completed the above finalize your application by clicking apply below

Purpose Statement

  • Combat financial crimes by owning the due diligence portfolio from within the AML Centre of Excellence, serving Retail, Business Bank and Insurance pillars of Capitec.

  • The due diligence portfolio includes client due diligence (CDD), enhanced due diligence (EDD), ongoing due diligence (ODD), sanction screening, politically exposed persons (PEP).

  • Oversight and guidance to AML operational environments in aligning due diligence processes to meet the Risk and Compliance Management Programme requirements.

  • Research and innovate the client due diligence processes the organisation applies.

  • Must be able to drive and implement a data driven approach to due diligence.

The ideal candidate will bring

Qualifications:

  • Bachelor's Degree in Legal or Compliance or Risk Management or Auditing or Business Commerce (Minimum) and/or
  • A relevant tertiary qualification in Financial Crime would be an advantage

 

Knowledge:

  • Legislation regarding money laundering control, combating of terrorist financing, proliferation financing, sanctions and regulatory reporting.  
  • Business and commercial awareness  
  • Understand ML/TF/PF and sanctions risks in a financial institution  
  • Understand risk associated with business entities as clients 
  • Knowledge of ML/TF/PF and sanctions risk associated with foreign exchange and cross border instruments 

Experience

MINIMUM

  • At least 8 years' relevant AML experience(EDD, transaction monitoring etc.) within a financial / banking environment

  • At least 2 years’ experience in a business banking environment

  • AML regulatory requirement experience and proficiency 

What you will be doing

Due Diligence

  • Drive innovation, review and assess due diligence processes and procedures, (CDD, EDD, ODD) from within the AML Centre of Excellence.
  • Identify areas for improvement and lead process improvement initiatives as sponsor to enhance the effectiveness and efficiency of due diligence processes.
  • Liaise with various stakeholders, to implement necessary changes.
  • Keep abreast of the latest regulatory requirements and international best practices related to due diligence.

Compliance

  • Review and propose amendments to compliance policies and standards
  • Lead the implementation of process changes due to policy amendments

Strategy and Direction

  • Develop a data-led, future-fit due diligence strategy.
  • Operate as a project sponsor or sponsor-representative in formalised projects

Collaboration and Stakeholder Management

  • Liaise with different first line and product stakeholders to implement changes and enhance process effectiveness and efficiency.
  • Collaborate with different teams to share knowledge, insights and best practices related to anti-money laundering (AML), counter-financing of terrorism (CFT), counter-proliferation financing (CPF) and counter-financial crime in general.

Additional Responsibilities

  • Monitor emerging trends and best practices related to AML/CFT/CPF and share insights with relevant stakeholders.
  • Support in risk assessment on new products, services and enhancements to channels.
  • Assist the business to tailor new products and services in a manner that prevents financial crimes.

Conditions of Employment

  • Clear criminal and credit record

Capitec is committed to diversity and, where feasible, all appointments will support the achievement of our employment equity goals.