Job Purpose
The purpose of this job is to plan, lead and conduct inspections in terms of the FIC Act; oversee the administration of the inspection process; and provide guidance and advice to Supervisory Bodies.
Duties & Responsibilities
KEY PERFORMANCE AREAS:
- Research and identify suitable accountable and reporting institutions for inspections, utilising the risk base approach.
- Conduct inspections on accountable and reporting institutions to assess the levels of compliance with the provisions of the Financial Intelligence Centre Act 38 of 2001 (the FIC Act).
- Correctly assess the levels of compliance with the FIC Act by accountable and reporting institutions.
- Collect and maintain the integrity of information evidencing the levels of compliance with the FIC Act.
- Draft and process inspection reports detailing the level of compliance by inspected institutions.
- Recommend appropriate remedial action to remedy any non-compliance.
- Conduct research on domestic and international AML compliance and enforcement trends.
- Guide and advise accountable institutions, reporting institutions and supervisory bodies regarding compliance with the FIC Act.
- Guide, advise and mentor inspectors.
Technical Competencies
- Know and understand the provisions of the FIC Act and other anti-money-laundering legislation and international standards.
- Correctly evaluate and assess the level of compliance with the provisions of the FIC Act by inspected institutions.
- Secure accurate, reliable and admissible evidence to support conclusions on the inspected institution's level of compliance with the FIC Act.
- Draft inspection reports detailing inspection findings and conclusions.
- Attend and respond to correspondences relating to inspections and other general matters.
- Guide and advise accountable, reporting institutions and supervisory bodies on compliance with the FIC Act.
- Guide, advise and mentor inspectors.
- Conduct general and legal research.
- Deliver on operational goals and tasks with minimal supervision.
Education, Skills and Experience
- Relevant University Degree and working towards Post Graduate (Law and Commerce).
- At least eight (8) years' experience in a relevant field i.e. prosecution or forensic auditing or information systems or regulatory experience.
- Knowledge of the FIC Act, other anti-money laundering legislation and international anti-money laundering standards.
- Advanced investigative and analysis skills.
- Advanced legal drafting skills.
- Good written and verbal communication skills.
- Good people management skills.
- Intermediate to advanced level of computer literacy, including MS Word, MS Access, MS Project; MS Excel, MS Power Point.
- A high level of judgement and integrity.
- FIC Act compliance experience advantageous.
- Managerial experience advantageous.
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