Anti-Money Laundering Compliance Officer (AMLCO)

**About the Role

The Anti-Money Laundering Compliance Officer (AMLCO) is responsible for ensuring that Mukuru Africa adheres to Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT) and Counter-Proliferation Financing (CPF) policies and regulatory requirements.

The role ensures compliance with requirements set by the South African Reserve Bank and the Financial Intelligence Centre and fulfils the requirements of Section 42A(b) of the FIC Act 38 of 2001. The AMLCO reports directly to the Head of Financial Crime and has direct and independent access to the Board of Mukuru Africa.

What You’ll Do

Develop and Maintain the Risk Management Compliance Programme (RMCP)

• Own the RMCP and ensure its development and adherence across the business.
• Review the RMCP at least annually or when new legislation, products, delivery channels or corridors are introduced.
• Develop AML/CFT/CPF controls, policies and procedures and oversee their implementation and effectiveness testing.
• Ensure all staff have access to the RMCP.
• Report monthly to the Head of Financial Crime and quarterly to the Board of Directors.
• Assist with presentation information for FCC meetings.
• Implement internal Know Your Customer (KYC) management and procedures that comply with key regulations.
• Develop and document financial crime risk assessments and update them when necessary.
• Report on AML/CFT risk assessment outcomes and ensure remedial actions are taken and tested.

Provide AML/CFT/CPF Guidance

• Serve as a subject matter expert and respond to AML/CFT/CPF queries.
• Advise senior management on the implications and scope of internal policies.
• Escalate high-risk concerns promptly.
• Maintain current knowledge of compliance and AML/CFT/CPF trends.

Ensure Regulatory Compliance

• Implement customer risk-rating criteria supported by KYC and Customer Due Diligence (CDD) procedures for individual and corporate customers.
• Ensure adherence to the AML/CFT/CPF management framework for identifying, controlling, monitoring and reporting suspicious and unusual transactions.
• Ensure money-laundering prevention requirements are incorporated into internal procedures and controls and communicated to staff.
• Assess, monitor and provide recommendations regarding high-risk customers, including Politically Exposed Persons.
• Act as a central point for AML/CFT documentation.
• Communicate with internal departments on compliance and transaction matters.
• Develop strong relationships with partner Compliance teams.

Monitor and Identify Suspicious Activity

• Ensure Section 29 reporting to the FIC is completed correctly and reports are filed on time.
• Monitor Section 28 and 28A reporting to the FIC.
• Receive and action Section 27 and 32 requests from the FIC.
• Monitor the BI dashboard for suspicious transactions and activity and record relevant cases on the STR tracker.
• Identify trends and potential gaps in systems, controls and compliance processes and recommend mitigation measures.
• Investigate suspicious transaction and possible fraud escalations received from Transaction Monitoring Analysts and Investigators, determining whether STR reporting is required.
• Ensure sanctions and PEP lists are updated, and screening processes are adequately deployed.

Act as Regulatory Point of Contact

• Keep abreast of amendments to requirements and regulations in South Africa.
• Facilitate inspections by internal and external auditors and regulators.
• Attend required meetings with regulatory bodies.
• In consultation with the Head of Financial Crime and Head of Compliance, prepare and submit breach notifications to the South African Reserve Bank and FIC.

Support AML/CFT/CPF Training

• Provide AML/CFT/CPF training materials to the Learning & Development team.
• Promote staff participation in training.
• Establish a channel for staff to raise questions with the AML team.
• Attend relevant training, performance reviews and meetings with the Head of Financial Crime.
• Assist with the annual Financial Crime month.
• Research, understand and implement changes in financial crime legislation and regulations.

Assurance Testing and Monitoring

• Undertake risk monitoring and quality assurance to demonstrate adherence across systems.
• Conduct random sample testing of adherence to internal policies, procedures and processes.
• Conduct sample assurance testing following the deployment of new AML products and delivery channels.

What You’ll Need

Experience & Qualifications

• 5 years’ experience in an FSB-regulated business.
• 5 years’ financial crime/compliance experience.
• Post-matric degree in Compliance, Risk Management, Legal or a similar field.
• CAMS certification.
• Prior approval from the Financial Intelligence Centre and South African Reserve Bank as an AMLCO.

Knowledge

You’ll need knowledge of:

• Mukuru internal AML/CFT/CPF policies and procedures.
• Regulatory bodies and reporting requirements.
• National and international AML/CFT legislation and standards.
• Sanctions and PEP screening processes.
• Customer onboarding, monitoring and Enhanced Due Diligence processes.
• Financial Action Task Force 40 Recommendations.
• Mukuru systems.
• Data protection policies.

Skills**

• Microsoft Outlook, Excel, Word, PowerPoint and Power BI.
• Excellent verbal and written communication.
• Strong organisational and administrative skills.
• Leadership.
• Attention to detail.
• Ability to work independently and within a team.
• Training and presentation skills.
• Report writing.
• Ability to multitask.
• Excellent relationship management and communication skills, including engagement with internal stakeholders and supervisory and regulatory bodies.