Compliance Specialist

Compliance Specialist 

Location: Umhlanga

A banking institution is seeking an experienced Compliance Specialist to strengthen its regulatory compliance function. This role combines advisory support, monitoring, investigations and reporting, with a particular focus on AML/CFT and FAIS requirements.

You will work closely with branches and management to identify compliance risks, improve controls and support sound regulatory practices.

Key responsibilities

• Provide practical guidance to branches on AML/CFT and FAIS obligations.
• Deliver compliance training and awareness sessions in line with the training plan.
• Perform compliance monitoring and testing, recommending corrective actions and improvement plans.
• Assist with cash threshold reporting to the Financial Intelligence Centre (FIC) through goAML.
• Support projects relating to FIC reporting requirements.
• Investigate suspicious activity and submit suspicious transaction and activity reports through goAML.
• Assess high-risk account applications, make approval recommendations and complete related reporting.
• Review and close transaction monitoring alerts, ensuring clear commentary and timely resolution.
• Compile monthly and quarterly management reports covering suspicious activity reports, high-risk accounts, frozen accounts and compliance monitoring.
• Use Microsoft Excel to analyse compliance data, investigate anomalies and highlight emerging risks and trends.
• Regularly assess the effectiveness of compliance monitoring, including the quality of commentary and turnaround times.
• Maintain and update the SWIFT KYC Registry.

Experience and qualifications

• Five to seven years’ experience in a banking compliance role covering FAIS and AML/CFT.
• A qualification in law, finance or a related discipline, supported by relevant compliance courses or qualifications.
• Thorough knowledge of the FIC Act and FAIS Act, including their subordinate legislation.

Skills and attributes

• Strong understanding of AML/CFT, KYC and regulatory compliance requirements.
• Confident presentation and facilitation skills, with the ability to communicate regulatory requirements clearly.
• Strong analytical and investigative ability, supported by sound IT skills and proficiency in Microsoft Excel.
• Excellent attention to detail and accuracy when reviewing complex information.
• Ability to translate compliance findings into clear insights and practical recommendations for management.