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Foreign Exchange Compliance Officer - Aml Kyc Specialist Bureau de Change

Aml Kyc Specialist Bureau de Change

City of Johannesburg, Gauteng ·  More than 30 days

  • Description

  • The Compliance Officer is responsible for developing, implementing and enforcing the policies and procedures designed to minimize potential regulatory risks (including money laundering risks) and take responsibility for all reports, amendments, communication and compliance relating to SARB/FIC/FICA.

    Minimum Qualifications:

    • A relevant degree or NQF5 qualification

    • A minimum of 5 years' full time experience in Foreign Exchange Operations

    • Certification in South African AML and FICA requirements


    • RE1 – Key Individual

    Minimum Requirements:

    • 7-10 years working experience as a Compliance Officer in Foreign Exchange & Money Transfer

    • Knowledge of SARB: Go AML/FIC Act/FICA/KYC

    • Knowledge of SARB: CFT: Combating Financing Terrorism

    • Highly Experienced in risk management of clients and staff

    • Highly Experienced in monitoring compliance with the Exchange Control Rulings

    • Highly experienced in reporting: Sections 28, 28A, 29 (STR & SAR) & 32 of the FIC Act

    • Highly Experienced in Foreign Exchange and Money Transfer Software

    • Language(s): English

    • Driver's license: B ,EB

    • Availability for travel: Local

    • Extensive knowledge of POPI Act

    Key Performance Indicators

    • Well versed in AML, CFT, Fraud Prevention and Exchange Control regulations and rulings

    • Regulations are followed by all employees as set out in the Internal Rules document

    • Proper recordkeeping as mandated by local regulations and contractual undertakings

    • Effectiveness and monitoring of the Internal rules

    • Ensure employees are trained and tested on a regular basis

    Key Job Functions

    • Forming and performing an efficient and effective Regulatory Risk & Compliance function which contributes to the company’s growth and strategy realization.

    • Developing and integrating a risk based approach across all services (including customer and branch profiles)

    • Implementing a risk-based monitoring program to monitor and manage regulatory requirements over the short, medium and long-term (RMCP)

    • Defining and rating the company’s regulatory risk universe and map

    • Conducting monitoring according to the monitoring program which must include Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements

    • Ensure compliance with the FIC Act and all other relevant legislation

    • Monitoring to ensure that there is continuous compliance with the Exchange Control Rulings

    • Correct and timely reporting per Regulatory requirements

    • Reports to be filed as per Sections 28, 28A, 29 (STR & SAR) & 32 the FIC Act)

    • Developing and maintaining relationships with the Regulator and industry bodies

    • Monitoring the regulatory environment to identify new applicable regulatory requirements and amendments to existing requirements

    • Advising and consulting with business on regulatory developments and on the regulatory implications of non-compliance

    • Ensuring that the Internal Rules document is kept up to date and is a “live” ongoing document

    • Providing ongoing employee training and assessment to ensure compliance with Internal Rules

    • Promoting and maintaining a compliance culture within Forex World through awareness campaigns and training programs

    • All employee transactions are monitored

    • Fraud Prevention

    • Employee training and advising

    Key Qualities

    • Ability to integrate information with processes

    • Communication skills (verbal, written, numeric)

    • Accountable

    • Professional

    • Trustworthy

  • Requirements

  • Minumun level of education: Ocupational Certificate /N5
  • Years of experience: 7
  • Language(s): English
  • Driver's license: B ,EB
  • Availability for travel: Yes
  • Availability for change of residence: No

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Job summary

  • Foreign Exchange Compliance Officer

  • City of Johannesburg, Gauteng

  • Company

    Money Group
  • Type of contract

    Permanent contract

  • Work type

    Full Time

  • Apply now