Johannesburg: Anti-Money Laundering Specialist LLB posted by Lerena Recruitment Services

The main purpose of the role is to assist with the following: To assist the Firm with discharging its obligations under the FIC Act; FICA Remediation Projects (including remediating deficient client data and remediation of existing client population); Attend to client reviews (including ad hoc and periodic reviews); Assist junior onboarding officers; Sign-off on certain onboarding matters; Manage the outstanding CDD and EDD requirements with lawyers and secretaries on a monthly basis; Reporting on CDD and EDD matters (progress and status updates); Compiling reports for submission to the Risk and Compliance Committee; Escalate certain matters to the GC, Head of Risk and Compliance and the Risk Committee; Conduct research on AML trends and typologies and propose enhancements to processes and controls; Conduct Country Risk research and update the Country Master Data Tables on a regular basis; Assist the Compliance Risk Manager and General Counsel, Head of Risk and Compliance with general AML portfolio management; Conducting AML Typology research and trends on a regular basis and assist with the review and maintenance of the RBA Framework; and Conducting country risk research and updating the Firm’s Country Risk Master Data Table on a regular basis. The key responsibilities and duties: Accurately capture client data on the onboarding system; Conduct CDD in respect of clients; Conduct ad hoc and periodic reviews on existing client population; Conduct research in respect of various sources (eg CIPC, Department of Home Affairs, Who owns Whom, etc); Conduct Country Risk research and update the Country Master Data Table on a regular basis; Analyse sanctions, PEP and adverse media alerts on the system when onboarding clients and conducting client reviews. Distinguish between ‘False Positives’ and ‘True Matches’; Conduct EDD in respect of high-risk clients (including summarising adverse media reports, PEP assessments and review of sanctions against individuals, entities and countries); Prepare EDD templates for high-risk clients and submit same to the Risk Committee for consideration. Action the decision of the Risk Committee; Liaise with lawyers and secretaries to obtain outstanding CDD and EDD information; Attend to daily alerts raised by the onboarding system once ongoing screening is implemented to determine whether or not they are ‘false positives’; Ensure that CDD information is current when new matters are opened for existing clients. Update existing clients’ CDD information and re-screen and re-rate existing clients with new matters; Analyse constitutive documents of entity type clients, share registers, shareholder agreements, etc. in order to determine the BOs for entity type clients and document evidence in respect of same; Ensure that regulatory reporting, eg. Cash Threshold Reports (CTRs) and Suspicious Transaction Reports (STRs) are lodged within the prescribed time-frames; Assist with the development and maintenance of the Firm’s internal screening list; Ensure that all onboarding and reviews comply with the Firm’s RMCP; Develop AML training material and facilitate training sessions; Compile reports for the HoD and the Risk and Compliance Committee; and Assist with various AML compliance projects and any other AML-related tasks as assigned.