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

About the Role

The Anti-Money Laundering Specialist LLB will play a critical role in assisting Lerena Recruitment Services with its obligations under the FIC Act, ensuring compliance with anti-money laundering regulations and maintaining the Firm’s reputation for integrity. This position requires a strong understanding of AML laws, regulations, and best practices.

Key Responsibilities

• 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 (e.g. CIPC, Department of Home Affairs, Who owns Whom, etc)
• 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 (e.g. 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 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
• Assist with various AML compliance projects and any other AML-related tasks as assigned

Requirements

• LLB degree
• Strong understanding of anti-money laundering laws, regulations, and best practices
• Excellent analytical and research skills
• Ability to work in a fast-paced environment and meet deadlines
• Strong communication and interpersonal skills
• Ability to maintain confidentiality and handle sensitive information with discretion

Qualifications

• Formal education/certifications (LLB degree)