Financial Crime Manager Mama Money

  • Finance Jobs In South Africa
  • Full time
  • 2 months ago
  • South Africa
  • Job Qualifications Bachelor
  • Number of vacancies 3 openings
  • Job level Officer

Job Description

As our Financial Crime Manageryou will be responsible for:

AML Program Management:

  • Oversee AML team activities, including investigations, regulatory reporting, and customer/payment screening.
  • Develop and maintain agent and partner due diligence processes.
  • Evaluate risks associated with clients, financial instruments, and services, updating systems and procedures accordingly.
  • Align the AML program with regulatory changes and business strategy.
  • Review and update AML policies and procedures as needed.
  • Provide guidance on corrective measures and inform senior management of policy application shortcomings.

Corridor Analysis and Training:

  • Assist in corridor analysis and develop/review corridor-specific AML Red Flags.
  • Facilitate an annual employee training program on Money Laundering and Terrorist Financing prevention.
  • Identify departments and employees requiring further training and education.

Fraud Management:

  • Collaborate with legal and law enforcement to plan and execute fraud case resolutions.
  • Conduct suspect interviews, analyze documents and financial data, and direct fraud unit operations.
  • Provide professional recommendations to limit fraud risks for business establishments.
  • Support negotiations and recovery processes.
  • Design and implement effective fraud prevention processes.
  • Manage day-to-day activities of the fraud investigations team

Fraud Prevention and Technical Expertise:

  • Establish and enforce rule configurations based on fraudulent activities.
  • Oversee various lines of defence against fraud and lead fraud investigations.
  • Analyse data and trends for proactive fraud prevention.
  • Develop a strategic approach to fraud mitigation, transitioning from reactive to proactive measures.
  • Collaborate with technical experts to implement effective anti-fraud measures.

Technical Leadership:

  • Utilise systems thinking and data analysis for informed decision-making.
  • Own the implementation, management, and enhancement of compliance systems.
  • Drive technical understanding and data analysis for AML and fraud prevention.
  • Enhance technical capabilities within the Compliance department.
  • In your first 90 days at Mama Money you will:
  • Understand our business, our corridors, our transaction patterns, our existing rules and framework, and our regulatory obligations.
  • Do your first risk assessment of our business from a compliance perspective, identify gaps and propose mitigation strategies.
  • Propose AML system improvements and champion their implementation.
  • Get to know the compliance team, the senior management team, and the overall people in our organisation.

About you:

  • You have at least 8-10 years of Financial Crime & Compliance management role.
  • You are familiar with industry practices and professional standards and have knowledge of legal requirements and controls (e.g. AML, KYC, Fraud).
  • Strong technical understanding and experience in AML and fraud prevention.
  • You have experience setting up, managing, and developing a team of AML / Customer Screening / Fraud investigators, specifically focusing on their ability to grow their skillset and liaise with the rest of the organisation.
  • You have actively managed the set up and maintenance of transaction monitoring rules set, specifically with regard to rules that identify money laundering and fraud patterns
  • Proficiency in data analysis and trend identification.
  • You have experience in the successful implementation of robust compliance & Fraud frameworks and processes – both in AML/KYC and Consumer Fraud.
  • You have experience managing and improving the usage of customer screening and automated transaction monitoring tools.
  • You have designed and implemented risk management programmes
  • You have the ability to provide input in product development with regards to Fraud enhancements and customer protection.
  • You have experience dealing with payment partners and third-party agents especially in terms of DD, EDD and risk management.
  • Strategic thinking and the ability to design and implement effective anti-fraud measures.
  • Excellent communication and leadership skills.
  • Proven experience in managing compliance, AML, and fraud prevention teams
  • Compliance with regulatory requirements.
  • Effectiveness of AML and fraud prevention measures.
  • Timely identification and mitigation of fraudulent activities.
  • Proactive approaches to risk management.
  • Successful expansion into new corridors with minimised risks.
Job skills