Money Laundering Control Officer

Money Laundering Control Officer

Job Title: Money Laundering Control Officer
Contract Type: Permanent
Location: Kwa-Zulu Natal
Reference: JN -062019-16503
Contact Name: Nicole Vine
Contact Email:
Job Published: November 12, 2019 11:14

Job Description


  • Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF)


Analysis and Investigation

  • Analyses, investigates and reports forex STRs and manual STRs
  • Reviews STR capturing by AML Admin Assistant for submission to the FIC
  • Analyses, investigates and reports alerts generated by the automated transaction monitoring system (SAS AML), including reporting of statistics to senior management
  • Analyses Enhanced Due Diligence applications for International banking, Non-Profit Organisations and foreign shareholding with suitable recommendations, and attends EDD Committee meetings


Reporting: Internal and External

  • Collates information and responds to other requests for information from the FIC eg Section 32, 35 etc.
  • Submits monthly return to South African Reserve Bank (SARB) on suspicious transactions reported to the Financial Intelligence Centre (FIC)



  • Researches local and international money laundering trends
  • Assists in informing senior management and directors of current events relating to anti-money laundering, counter terrorist financing and new legislation, when required
  • Responds to AML related queries from branches, CFT Team and other management
  • Provides approval to branches for downward changes in risk


AML/CTF Training

  • Prepares and updates training material on FICA and AML, on a regular basis and when new developments occur
  • Conducts presentations or training sessions to staff on FICA and AML, when new developments occur


Policy, Documentation and Interaction with Regulators

  • Prepares FICA and AML related Policies and Procedures
  • Prepares memos or circulars relating to internal policies and procedures on AML/CTF
  • Assists with enquiries from regulators and provides information when required



  • Supervises work of AML Admin Assistant in the absence of the Money Laundering Control Supervisor


Relief Duties (in the absence of the Sanctions Officer and/or AML Admin assistant)

  • Submits CTRs - daily cash threshold reports via the CTR system and manual submissions if required
  • Reviews submission status to ensure reports are successful
  • Reports suspicious transactions (includes saving, tracking and preparation of acknowledgement letters sent to branches as well as capturing and submission via the goAML site)
  • Provides a real time checking service to all relevant business areas which includes the evaluation of a case, the generation of the report and a decision to be made on whether the transaction may be processed
  • Responsible to ensure that the daily bulk screen of the customer database is conducted
  • Further to this conducting checks on UN, OFAC, EU and UKHM list updates against LN system to ensure LN system accurately updated and ensuring the maintenance and updating of any internal watchlists
  • Tracks and responds to Section 27 requests from the FIC (includes preparing a detailed CSV file of all listed names, running the file on Lexis Nexis Bridger Insight, generating audit reports for all matches and responding on the goAML message board)
  • Saves, tracks and acknowledges EDD submissions from branches
  • Collates the EDD committee meeting pack and provides branches with timeous feedback
  • Takes minutes at the meetings
  • Assists in the preparation and circulation of meeting packs

Special Projects

  • Assists with AML/CTF and other regulatory projects that form part of the department objectives and AML responsibilities of the Bank



  • A degree or relevant qualifications will be required in order to meet the requirements of the role at the highest level of competence
  • Anti-money laundering, compliance or anti-fraud professional membership or qualification advantageous


  • Experience in an anti-money laundering, fraud management or compliance environment
  • A minimum 3 years banking experience would be an advantage

Knowledge and skills:

  • Deadline driven
  • Analytical
  • Prioritisation
  • Efficiency and time management
  • Communication Skills (written and verbal)
  • Ability to work under pressure
  • Work independently and in a team
  • Computer literacy
  • Trustworthy
  • Professional
  • Initiative
  • Integrity

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