PRIMARY PURPOSE
This role is responsible for FCU strategy implementation of the Financial Crime Unit Framework. The incumbent ensures the FCU provision is strategically aligned with the Bank needs and regulatory requirements and mitigates bank's exposure to fraudulent activity maintaining a safe and secure environment. This role is further responsible for holistically managing the teams within the Financial Crime Unit.
TECHNICAL COMPETENCY REQUIREMENT
• Good knowledge of regulations relating to Financial Crime Compliance, including without limitation Financial Intelligence Centre Act, FAIS Act, Prevention of Organised Crime Act (POCA), Prevention and Combating of Corrupt Activities Act, Public Finance Management Act (PFMA), and Treasury regulation.
• Strong knowledge of key regulatory issues and control assessment processes.
• Highly numerate, with the ability to assimilate information quickly and accurately to inform decisions around key functions.
• Ability to analyse trends and customer needs across financial crime
REQUIRED MINIMUM EDUCATION AND TRAINING
• Bachelor’s Degree in Fraud Examination, Financial Forensics, Fraud Investigation, Law, Criminology, or other similar qualification.
• Certified Fraud Examiner (CFE)
• Extensive training in Criminal Justice, Forensic investigations, and Prevention.
REQUIRED MINIMUM WORK EXPERIENCE
• 5-7 years extensive experience in combatting bank related crimes and applying risk mitigation strategies.
• 5 years’ experience in Financial Services Industry
• Minimum 3 years’ experience in a management role
• Experience in advising on financial crime matters in an organisation with a diverse range of business activities.
• Experience in developing and implementing Compliance planning, monitoring, and reporting relating to financial crime.
PERFORMANCE AREA (KPA)
FINANCIAL MANAGEMENT
▪ Monitor spend to adhere to allocated budgets within area of responsibility.
▪ Control and manage costs and expenditure in line with departmental and Bank budget expectations.
CUSTOMER CENTRICITY
▪ Identify and suggest improvements to financial crime policies, procedures, and frameworks and ensure adherence to regulatory requirements.
▪ Implement Fraud Operations, Fraud Prevention and Financial Crime Investigations remedial plans.
▪ Interpret and execute Financial Crime Unit strategy for the Bank.
▪ Provide input into the development of innovative solutions to address complex financial crime risks and issues and help our clients meet global regulatory expectations.
▪ Lead and work as part of a team to create valuable and practical insights for our clients, adapting methods and practices to fit their business needs.
▪ Limit potential losses to the Bank and ensuring that all processes have a rigorous control in place, can be monitored accordingly and are adhered to.
▪ Report, document and monitor all identified matters to all relevant internal and external bodies in line with regulatory and legislative reporting requirements.
▪ Identify, analyse, investigate, report and trend the risks faced by the team, the Bank to ensure that the necessary controls are in place to measure, monitor and control these risks
▪ Coordinate the implementation of changes to any deficiencies identified within the processes and procedures.
OPERTIONAL EXCELLENCE
▪ Assist Head: FCU to perform Financial Crime investigations of high/sensitive nature, including lifestyle audits and vetting.
▪ Appropriately plan and scope the investigations to ensure adequate investigatory focus.
▪ Ensure investigations are executed in a compliant manner ensuring adherence to the requirements of the applicable laws and regulations.
▪ Present evidence in Disciplinary enquiries, civil court and/or criminal court based on factual findings reports from investigations.
▪ Perform pre and post fraud control reviews to identify the failings in the control environment which led to/facilitated the financial crime or misconduct.
▪ Assist Head: FCU to perform compliance reviews in Divisions to ascertain whether the Divisions comply with the Bank’s standards.
▪ Drive Fraud awareness and fraud prevention/detection training.
▪ Give recommendations to optimise any system and capabilities used when identified.
▪ Delegate appropriate customer service duties within the team as required to ensure a more effective and efficient flow of operation.
▪ To constantly analyse and interpret deliverables to assess and improve individual performance and service quality.
PEOPLE LEADERSHIP
▪ Inspire, motivate, and support team so that they are effective and delivering high quality work and meeting organisational and individual objectives.
▪ Manage planning of resource requirements, ensuring sufficient capable resources are in place to meet service delivery demands, maintaining the effective and efficient capability of the team.
▪ Build a high performing team where the best people are deployed in the right roles and deliver against strategy.
▪ Ensure that all employees are motivated and continuously developed.
▪ Inspire and engage employees around the vision and strategy of the Bank, maximising employee engagement and willingness to invest discretionary effort.
▪ Take responsibility for engagement planning, management, and leading teams in a variety of financial crime engagements.
DIGITAL JOURNEYS
▪ Identify, assess, and implement opportunities to optimise the fraud process through digitisation and automation.
▪ Effective tracking and measuring of all digital and automation implementations to ensure ROI
▪ Effective change management for all newly implemented digital / automation solutions.
COMPLIANCE AND MONITORING
▪ Ensure horizon scanning on evolving financial crime risks including remaining up to date on global regulatory compliance, emerging trends and opportunities and legislative matters.
▪ Define and analyse data trends, key metrics, and financial risk patterns, to continually improve fraud prevention, customer experience and the efficiency and effectiveness of the Bank’s processes.
▪ Work with colleagues across the business to identify, assess and manage financial crime risk.
▪ Partner with Internal Audit to ensure appropriate third line oversight of financial crime risk.
▪ Ensure all statutory and business Reporting are done within predetermined deadlines, monthly, quarterly and annually in line with all relevant regulations and bank’s internal policies and procedures.
▪ Provide and track recommendations for actions to reduce the identified risks during the review and/or investigation.
STAKEHOLDER MANAGEMENT
▪ Liaise with regulators, external advisors, and relevant stakeholders.
▪ Pro-actively develop and maintain a wide range of external contacts to obtain/exchange information, identify environmental change which may impact the Bank.
▪ Work collaboratively with management to implement prevention and investigative strategies.
▪ Work collaboratively across function teams within Fraud Operations, Fraud Prevention and Financial Crime to ensure effective and efficient operations.
▪ Fostering and maintaining good relationships with law enforcement parties, including NPA, SAPS, AFU
REPORTING
▪ Produce regular management information and data for reporting on Financial Crime risks to Head: FCU.
▪ Ensure consistent and timeous feedback on cases that have been escalated.
▪ Gather, Collate, Analyse data, Evaluate and Disseminate information to be actioned to aid in the reduction, identifying and addressing current threats, trends, subjects and activities of financial crime.
▪ Generate or review accurate investigative reports to provide feedback where necessary on matters in order to ensure key stakeholders have the correct information to make critical decisions.
▪ Report any data inaccuracies and anomalies to the relevant persons / bodies / entities.
▪ Analyse trends observed, identify discrepancies in reports and provide recommended solutions.
▪ Analysing industry data and report on trends that effect the Bank
LEARNING AND GROWTH
▪ Work with relevant stakeholders to design and implement appropriate financial crime education, learning and communication for employees.
▪ Take ownership for driving own career development.
▪ Achievement of objectives/milestones set out in the development plan.
▪ Preparation and signing off, of the development plan.
▪ Development of knowledge base and intellectually property.
WORK CONDITIONS
Office bound
This position is advertised in line with our commitment to Employment Equity.
