Financial Crime Surveillance & Assurance Manager

Job Purpose

To support the Country MLRO in implementing a robust Financial Crime Regime.

• Implement AML compliance processes and methodology as prescribed in the group Enterprise Risk Management framework (EMRF) and Risk Management and Compliance Program (RMCP).
• Ensure that all activities are carried out in full compliance with regulatory requirements and internal Absa Policies and Policy standards.
• Champion delivery of the ABSA annual rules optimization/tuning on the Transaction monitoring.
• Understand and manage Fin Crime risks and risk events (incidents) relevant to the role.
• Enforce strong KYC standards, commensurate with the country’s local conditions
• Execute and manage monitoring assignments in accordance with the Financial Crime Monitoring plan and relevant policies, procedures, and quality standards.
• Support the Country MLRO in the delivery of programs related to financial crime risks
• Monitor suspicious alerts escalated to MLRO and perform further investigations to discount or confirm if they are STR to be filed to the regulator.
• To implement Risk Management and Compliance Program (RMCP) related matters including policy/standards reviews and localization, and trainings on all matters patterning to Financial Crime
• Champion in Collaboration with AIA, Ops risk team, FCAT, Central bank; all the reviews and/or assurance, audit that relates to FinCrime compliance.
• Support MLRO in developing action plans based on findings in FinCrime reviews and monitor execution

Main Accountabilities

Functional Management:   80%

• Effective and timely SAR reporting
• Perform Quality Assurance on the completed reviews including PEP/HRR/Medium/Low-risk relationships, manual triggers, Suspicious Transaction alerts closed by Analyst as per the TM standard, etc.
• Address all issues identified in AIA audits, QA of AML and monitor completion of remedial activities, and inform the Line Manager on the progress.
• Effective and timely reporting of KYC / AML and sanctions MI, discounting alerts, and any other related activity as assigned by the Country MLRO
• Provide full support to the business in AML, sanctions, and KYC-related queries.
• Carry out volume/ value analysis to determine appropriate thresholds to be used for suspicious transaction alert monitoring.
• Support the MLRO in driving the implementation of Risk Based Approach (RBA) throughout the business.
• Guide the business in understanding the RBA to AML compliance and assist them in compiling appropriate customer profiles.
• Develop action plans based on findings in suspicious transaction reviews and monitor the execution of such plans.
• Support in performing annual reviews of suspicious transaction limits set across each of the business types.
• Obtain annual coverage plans on KYC, AML, and Sanctions and monitor status on a continuous basis and report any deviations to MLRO/Head of Compliance.
• Support in Cash Transactions Reports (CTR), and Electronic Fund Transfers (EFTs)
• Provide appropriate information to the Line Manager by collating appropriate, accurate, and reliable MI to effectively manage compliance risks on FinCrime reviews.
• Evaluate and challenge information received from the business with the objective of achieving continuous improvement in AML compliance.
• Rule tuning and optimization
• Support in conducting AML/CFT risk assessment as required by AML regulations
• Support in AML/CFT prudential submissions
• nafasi za kaziSupport in responding to various requests from competent authorities
• Support business in providing Financial Crime NAPA approvals.

Business Coordination: 10%

• maintain excellent relationships with the business team to ensure the achievement of business goals.

• Collate and draft consolidated AML compliance report and other reports as required by the MLRO within deadlines set and submit to MLRO.
• Report and escalate all AML compliance risks and issues arising from the Tanzania business promptly and appropriately in accordance with Group and local legal and regulatory requirements.
• Report any deviations to the MLRO.
• Keep the MLRO informed on compliance matters which may pose financial or reputational risks for the business.
• Provide appropriate information on a daily, weekly and monthly basis by collating appropriate, accurate and reliable information to aid effective management of compliance risks.

Risk and Control Objective: 10%

• In the event of major issues in the business unit, act as crisis coordinator and allocate tasks to the crisis teams.
• Review the risk and compliance profiles of the business unit on a regular basis and provide consultative support to the business on changes that are required to rebalance risk and reward where required.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgment and responsible risk management.
• Keep up to date on all regulatory changes and have the ability to articulate the impact to the Business, be well informed on the industry thinking.
• All mandatory training completed to deadline.

Technical skills / Competencies

Competencies:

• Analytical
• Planning and organizing
• Leadership & Interpersonal sensitivity
• Action & Result orientation
• Resilience

Knowledge, Expertise and Experience

Essential

Advanced knowledge of the local and group Fincrime Policies, Standards and procedures

Preferred

• Excellent knowledge of MS Office, comfortable with numbers, MIS
• Proficiency in writing instruction/procedure manuals and training material
• Good coordination skills

Quality, High Standards and Controls

• Anticipates standards required in the future and works on them now

Service Excellence

• Endlessly admired by customers for the standard of service provided

Technical Skills and Knowledge

• In depth knowledge of functional areas and products and services offered

Communication / Influence

• Uses a variety of communication methods – but gets complex messages across simply

Absa Values

Absa’s Values and Behaviours represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

• I drive high performance to achieve sustainable results
• I’m obsessed with customer
• I have an African heartbeat
• I believe our people are our strengths

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)