Compliance Analyst

MAJOR DUTIES AND RESPONSIBILITIES:

Operations

• Manage alerts of customer transactions and patterns in the Anti-Money Laundering System to identify anomalies, adverse trends, and suspicious activities; examine same and initiate appropriate action within specified timeframe.
• Remediate matches on sanction lists related to onboarding and maintenance of customers and/or effecting cross border payments to mitigate the risk exposure of the VM Building Society.
• Review and analyze compliance monitoring reports to identify threshold transactions and unusual/suspicious customer activity; provide recommendations after obtaining relevant KYC information, transactional details and supporting documentation and follow-up with responsible area for explanations/remediation.
• Conduct investigations, manage, and respond to Court Orders and other requests from the relevant regulatory authorities within stated timelines. Liaise with the Regulators and Designated Authority as deemed necessary.
• Guide, monitor and instruct Branches, Business Units and Subsidiaries of the VM Group, regarding responses to AML/CFT/PF queries/requests within specified timeframe and Service Level Agreement to ensure adherence to internal AML/CFT/PF Policies/Procedures and external regulations.
• Conduct AML/CFT Branch/Business Unit /Subsidiary reviews of customers, customers transactions, investigate unusual activities and instruct and guide staff in remedial actions where applicable.
• Provide support to the Compliance Manager on the introduction and implementation of new legislation and regulations and direct staff on new procedures resulting in these changes.
• Provide support and guidance with special projects assigned from time to time.

Reporting

• Assist in the preparation of Compliance, Risk Reports and Strategic Reports internally and to the Designated Authority and Regulators.
• Prepare review, coordinate, and finalize regulatory reports in relation to specified customers and their transactions for submission to the Designated Authority and maintain records of all reports filed therewith.
• Provide assistance in obtaining and preparing reports on compliance issues and drafting responses to Correspondent banks and Regulators including AML/KYC questionnaires and regulatory requests.

Training

• Develop AML/CFT/PF training material, conduct and direct AML/CFT/PF training for staff.
• Assist in specialized training for staff in the Compliance Unit.
• Provide guidance and training to staff on changes in the regulatory landscape.
• Provide guidance and training to staff members on changes in Company policy/procedure.
• Issue advisories on regulatory changes to AML regulations and new legislations and laws.

Risk Management

• Keep abreast of changes in applicable AML/CFT/PF legislation and provide support to the Compliance Unit in implementing policies and procedures to support the change.
• Identify risk exposure in customer behavior in the Society and across SBUs as deemed necessary.
• Monitor trends and effecting systems to address existing or adverse trends.
• Review High Risk Clients and Politically Exposed Persons (PEPs) and Direct and Instruct Branch leaders regarding enhanced due diligence review of same.
• Assist in the identification, preparation, and assessment of Risk Registers and ERM Reports.
• Identify, and prepare report on all significant regulatory compliance breaches or gaps; escalate to and work with Compliance Manager to develop and implement changes to AML policies and procedures as appropriate.

Miscellaneous

• Assist with the review of the Company’s Policies and Procedures; provides recommendations to the Policies and Procedures, to keep up to date with current laws and regulations.
• Address any other Compliance related matter.
• Ensure that the information for which you have access is handled in accordance with the Society’s Information Security (IS) policy*
• Perform any other related duties which may be assigned from time to time