We are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.
Absa Group Limited is listed on the JSE and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 41 000 employees.
We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda and Zambia. We also have representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.
Position: Head of Financial Crime Unit
Location: Absa House – ABT
Bring your possibility to life! Define your career with us
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Develop, embed, maintain and oversee financial crime policies, processes and business rules, including in the following areas: KYC checks. AML and anti-fraud. Transaction monitoring.
- Manage and maintain a cost effective Financial Crime Prevention function supporting and protecting the business against Fraud and Money Laundering Risk and related reputational risk ensuring that the needs of all stakeholders are met
- The FinCrime role oversees from 1st LOD:
-Anti-Bribery and Corruption process
-Customer Sanctions Screening
-Transaction Monitoring Alerts
-KYC requirements and refresh process
- Any other activities related to Financial Crime related to Local Regulatory Law and Group Requirements based on SARB.
- Manage and set departmental and individual goals and targets for the Financial Crime Team investigations department
- Responsible for anti-money laundering (AML) compliance providing oversight, control, support and coordination for anti-money laundering compliance
- Responsible for the development, implementation and maintenance of an effective process of Transaction Monitoring alerts
- Understand and have continuing knowledge of all local AML requirements to ensure that the AML program is consistent with all applicable local laws, regulations and rules.
- Develop and manage a regular monitoring and reporting process to inform senior management on Transaction Monitoring Alerts closed or any suspicious patterns discovered, Manual Trigger and Annual KYC Refresh plans for HRR and PEP accounts.
- Ensure that all activity and transactions that are identified as potentially suspicious are investigated, reviewed and resolved in accordance with established procedures
- Coordinate with Regional FinCrime 1st LOD Teams to address issues raised in internal audit reports, self-assessments, compliance reviews or regulator’s examination.
- To personally manage and where appropriate carry out high profile/sensitive investigations.
- Establish and maintain liaison with local/county/regional and international financial industry representatives to proactively identify current fraud trends, criminal activity and the identification of organized criminal groups and influence security best practices.
- Liaison with national and international law enforcement entities and liaison with local financial industry representatives to proactively identify fraud trends/criminal activity and organized criminal attacks. (This experience is added advantage)
- Perform the Monthly rule optimization review and advise Centre accordingly.
- Bachelors Degree and Professional Qualifications: Money Laundering Control (Required)