Job Description

Brief Description

The main purpose of to manage the off-site anti-money laundering/counter-terrorist financing/ proliferation financing (AML/CFT/CPF) supervision function within the Prudential Authority (PA) to ensure that efficient and effective risk-based supervision is undertaken in executing the PA's supervisory duties as defined in the Financial Intelligence Centre Act 38 of 2001(FIC Act).

Detailed description

The successful candidates will be responsible for, among other tasks, the following:


Lead and manage an AML/CFT team responsible for conducting off-site supervision pertaining to compliance with the provisions of the FIC Act with regard to AML/CFT ? this includes undertaking reviews to assess compliance with AML/CFT requirements and standards, with the application of a risk-based approach to supervision. Identify new and emerging money laundering/terrorist financing/proliferation financing (ML/TF/PF) risks, including those in jurisdictions where South African banks and insurers have operations ? this includes the maintenance of the risk-based tool and ensuring that information is incorporated into the risk-based tool that will inform the frequency and duration of onsite inspections. Develop and maintain the risk-based supervisory manual and framework. Compile the annual supervisory calendar, considering work of the offsite team which must be reflective of a risk-based approach ? including inspections as well as other supervisory engagements. Introduce innovation and drive the use of technology to inform risk-based supervision, collation of statistics, engagement with external stakeholders, creation of an AML/CFT/CPF dashboard for analysis and reporting purposes. Ensure that AML/CFT risk returns are analysed timeously and that sector risk assessments are being conducted on a periodic basis for the banking and life insurance sector. Oversee the drafting of AML/CFT/CPF guidance for internal and external stakeholders to ensure effective implementation of a risk-based approach. * Manage the performance and development of the AML/CFT off-site team.