The main purpose of this position is to drive the off-site supervision of terrorist financing (TF) and proliferation financing (PF) controls to ensure alignment with the Financial Intelligence Centre Act 38 of 2001 (FIC Act) and the Financial Action Task Force (FATF) international standards, and to supervise compliance by accountable institutions.

Detailed description

The successful candidate will be responsible for the following key performance areas:

• Conduct research and keep abreast of TF and PF threats and vulnerabilities, trends and typologies, providing specialist reports to management for review and making recommendations on guidance to be issued to accountable institutions.
• Continuously update the Prudential Authority’s (PA) risk-based tool with relevant data from a domestic and an international TF and PF perspective, and assess the impact of TF and PF risks to South Africa from foreign jurisdictions.
• Provide inputs to the preparatory work/scoping documents of inspection teams prior to anti-money laundering and combating the financing of terrorism (AML/CFT) meetings and inspections.
• Assess the TF and PF financing controls of supervised institutions, including the activities and operations of supervised entities outside of South Africa.
• Provide insight and guidance to ensure the development of the risk-based matrix and the furtherance of a risk-based approach to supervision.
• Regularly inform and train the supervisory teams on key TF and PF developments.
• Ensure that the AML/CFT supervisory function adequately caters for the consideration of TF and PF risks in its risk-based approach to supervision, which should be reflected in the risk-based tool and supervisory activities of the division.
• Supervise accountable institutions to ensure compliance with the FIC Act, the Financial Action Task Force international standards, national legislation and best practice relating to TF and PF, including targeted financial sanctions related to terrorism and TF.
• Plan and drive workshops and engagement sessions with the relevant AML/CFT analysts and supervised institutions (banks and life insurers) to raise awareness of and provide guidance relating to TF/PF risks.
• Contribute to the drafting of banking and life insurance sector risk assessments, specifically with regard to TF/PF risks.
• Provide inputs to national risk assessments and contribute to the work of the national risk assessment committee.
• Contribute to the supervisory manual and training material of the division where it relates to TF/PF risks.
• Engage with external stakeholders to acquire information with regard to TF/PF risk assessments, and obtain TF/PF risk information for incorporation into the enhancement of the risk-based tool.
• Provide input into off-site reviews which are TF/PF risk-focused.
• Provide management information relating to TF/PF risk analysis.

Job requirements

To be considered for this position, candidates must be in possession of:

• A Postgraduate qualification in Political Science, International Law, Law, International Relations, International Security or another field related to non-proliferation and financial sanctions, or an equivalent qualification.
• Five to eight years of professional experience, including research and analysis experience in the area of preventing the financing of terrorism, the proliferation of weapons of mass destruction and/or targeted financial sanctions.

Additional requirements include:

• Industry, organisational and business awareness, knowledge and skill.
• Data analysis and reporting knowledge and skill in-depth technical knowledge.
• Experience in money laundering (ML)/TF/PF risk assessment tool design, implementation and analytics.
• Extensive experience in conducting ML/TF/PF risk assessments; excellent drafting skills.
• Comprehensive research and analysis experience in the area of preventing the financing of terrorism and the proliferation of weapons of mass destruction.

The following would be an added advantage:

Experience in data mining, modelling, predictive analytics and/or business intelligence reporting.