Sanctions Officer - Head Office - Durban at Al Baraka Bank South Africa

In brief

**Overview** This role is for a Sanctions Officer at Al Baraka Bank South Africa, located at their Head Office in Durban. Al Baraka Bank, registered in South Africa since 1989, is recognized for pioneering Islamic banking in the country. It is South Africa's only fully-fledged Islamic bank, with its Head Office in Durban and a national branch network. **What you will do** Key responsibilities for this role include: * **Sanction Screening:** * Maintain an effective sanctions screening process. * Update watchlists as and when required, and maintain custom watch lists. * Provide guidance on the bank’s sanctioned countries and high-risk jurisdictions in line with the bank’s risk framework and enhanced due diligence requirements. * Assist with monitoring legislative/best practice requirements that impact sanctions/sanctions screening. * Assist in the preparation of memos to staff and communication to management/staff on areas of sanctions/sanctions screening. * Prepare and conduct presentations to staff and regulators on sanctions screening. * Assist with drafting and maintaining Sanctions Screening policy and procedure documents. * Assist in submitting returns and reports to Regulators when required. * Assist with reports to EXCO and FICA EXCO regarding true positive alerts for clients already on the customer database (e.g., PEPS, adverse media, SAFPS etc.). * Provide support to the AML Officer by assisting with AML Officer duties in their absence and on alternate Saturdays. * Monitor for non-compliance and maintain records of non-compliance for auditing purposes. * Undertake special projects when required. * **Training:** * Assist with the development of training material relating to sanction screening. * Assist the AML Supervisor and AML Officer to train staff and management on the watchlist screening system/sanction screening. * Conduct intensive training to users on the sanction screening system. * **Second in charge to MLCO:** * Analyse alerts on the transaction monitoring system (SAS AML) and conduct investigations of suspicious activities. * Monitor non-compliance of FICA through exception reports (when required), query with branches, and follow up. * Assist the branch with enquiries. * Report on STRs, CTRs, TPRs, IFTRs, as and when required. * Prepare FICA packs for FICA EXCO meetings, take minutes, and make enquiries etc. **Requirements (from the original advert)** * **QUALIFICATIONS:** A tertiary related qualification in Anti Money Laundering /Counter Terrorist Financing /Sanctions is required. * **EXPERIENCE:** * A minimum of 3 years administrative and/or banking experience is preferred. * Experience with a sanction screening system is an advantage. * **KNOWLEDGE:** * Microsoft Office * Knowledge of the bank’s systems * Knowledge of sanction screening systems (e.g., Lexis Nexis) * Knowledge of bank’s policies and procedures * Knowledge of AML/CTF/ Sanctions **Who should apply** The ideal candidate for this full-time role based in Durban, KwaZulu-Natal, should possess a tertiary qualification in Anti Money Laundering, Counter Terrorist Financing, or Sanctions. They should preferably have a minimum of 3 years of administrative and/or banking experience, with experience in a sanction screening system being an advantage. Essential knowledge includes proficiency in Microsoft Office, familiarity with bank systems, sanction screening systems (such as Lexis Nexis), bank policies and procedures, and AML/CTF/Sanctions. **Deadline** Not specified **Reference** Original posting: https://www.myjobmag.co.za/job/sanctions-officer-head-office-durban-al-baraka-bank-south-africa Source: myjobmag

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• Microsoft Office

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