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OMF Money Laundering Reporting Officer

Employer
Old Mutual
Location
Pinelands Pinelands Cape Town City Centre, South Africa
Salary
Competitive
Closing date
Jan 28, 2025
View more categoriesView less categories
Job Role
Financial Accountant
Sector
Finance
Contract Type
Permanent
Hours
Full Time
Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

  • Matric/ Grade 12
  • A suitable legal or commerce qualification, advantageous
  • Certificate in Anti Money Laundering, advantageous
  • Working knowledge of the following legislation, advantageous: Financial Intelligence Centre Amendment Act, Protection of Constitutional Democracy and Terrorist and Related activities Act, Prevention of Organized Crime Act and related regulations
  • 3-5 years financial industry experience - specifically relating to the operations and products of an Insurer, Unit Trust Services Provider or Linked Investment Service Providers
  • Knowledge of Old Mutual systems and platforms, advantageous


Personal Effectiveness
  • Ability to handle a constantly changing legislative environment
  • Excellent inter-personal skills, including influencing skills
  • Ability to collaborate effectively with others to achieve personal and team results
  • Good business acumen and insight
  • A self-starter, with the ability to show initiative and work with minimal guidance
  • Capacity to work under pressure and meet deadlines
  • Solution-driven, passionate and energetic
  • Possesses a strong sense of ownership and initiative as well as a proactive mind-set

Skills:

Accountable, Deadline Management, Interpersonal Communication, Proactive Approach, Stress Management, Taking Initiative, Teamwork

The role is responsible for all AML related investigations which and assessing results, to understand whether the investigations can form part of regulatory reporting to the Financial Intelligence Centre.

  • Assisting the AML Officers to establish and embed a culture of compliance with AML requirements across Old Mutual Finance (OMF).
  • Assisting the AML Officer in the development, implementation and maintenance of compliance risk management and monitoring plans for OMSA, specific to AML.
  • Assisting with the development and implementation of effective mitigating actions around key AML risks identified.
  • Acting as the Money Laundering Reporting Officer for the South African registered Accountable Institutions.
  • Investigations of:
    • Reportable cash transaction (CTR and CTRA) generated through the monitoring system and/or reported by business;
    • Suspicious and unusual transactions and activity (STR and STRA) reported by the business and or generated through the monitoring system; and
    • Results generated through the screening process iro sanctions, Domestic Prominent Influential Persons (DPIP), Foreign Prominent Public Officials (FPPO) and/or Politically Exposed Persons (PEP).
  • Ensuring that all Cash Transaction Reports, Suspicious Transaction Reports and Terrorist Property Reports (in terms of FICA) are submitted timeously to the Financial Intelligence Centre (FIC).
  • Ensuring that all S27, S32 and S34 enquiries received from the FIC and/or any other authorized agencies are attended to timeously.
  • Assisting with collation of information across OMF in order to build and maintain an AML compliance program.
  • Assisting with stakeholder engagement in respect of identified risks resulting from control failures and ensure effective remediation action is taken.
  • Ensuring that information is collated, analysed and prepared for the various stakeholders within the required timelines.
  • Ensuring effective and timeous reporting in respect of AML regulatory requirements, risks identified and overall compliance of the various OMSA Accountable Institutions (AI's) to various stakeholders within the organization.
  • Ensuring all RMCP requirements are implemented into the AML Office through new or enhanced processes, automated rules and Standard Operating Procedures are updated and MLROs trained accordingly.


Skills

Competencies

Education

Matriculation Certificate (Matric) (Required)

Closing Date

20 January 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual's Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

The Old Mutual Story!

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