Responsible in delivering enhanced due diligence for the Life retail Business.
The role of Enhanced due diligence is to identify, prevent and create and implement an enhanced due diligence framework to mitigate customer risks borne through services and/or products that we provide to our customers vis-a-vis the customer data that we collect. Lack of such a framework can lead to increased opportunities for money laundering or terrorist financing through our services and/or products.
Develop and implement an enhanced due diligence framework
Institute controls towards enhanced due diligence
Review of customer information and related transactions, analysing complex data to determine if activity appears suspicious and warrants further investigation by the MLRO
Responsible for conducting initial and periodic reviews when certain events occur that may give raise the risk profile for certain customers
Compile and assess customer due diligence documentation for flagged customers on Sanctioned and watch lists
Analyse politically exposed persons (“PEP”) and prepare accurate reports on the analysis performed and supporting documentation provided
Analyze client profiles and information according to prescribed internal policies and procedures on AML, FATCA, and UFAA and mark them as appropriate for continuous monitoring. the client on-boarding process to ensure that valid FATCA documents are received, validated and clients classified as required in source systems
Identify any inconsistencies/gaps in client information and identify US indicia
Oversee enhanced review of accounts to ensure all are FATCA compliant
Reporting to the relevant stakeholders on all unusual transactions
Marking clients as high risk for continuous monitoring
Filing returns to Regulators based on the set deadline
Investigate and promptly respond to all KYC enquiries
Ensuring that due diligence controls and processes are mapped out and implemented within the affected business functions
Monitoring risks that have been identified in relation to the function and following up wit the relevant functions to ensure that compliance is achieved.
Record all incidences in barn-owl or the risk management system as the case may be as well as in CRM.
Ensure maintenance and safety of all documentation relating to identified risk cases.
Custodian of processes and procedures manual for enhanced due diligence for retail life business.
Knowledge, Experience And Qualifications Required
Bachelor’s degree in a business, statistics, mathetics or a related field
Technical/ Functional competencies
Decision making –ability to make strategic decisions in a timely and effective manner
High moral and ethical standing
Data modelling skills
Emerging Leaders In Britam Need To
Plan, direct and apply efficiencies and resources in order to optimise output and profitability against time, cost and team targets;
Effectively communicate strategic and operational departmental goals and objectives to peers and others in order to ensure proper implementation;
Ensure that department priorities are adhered to and effectively communicated;
Ensure competent and effective people resources through appropriate coaching, development and people supervision as appropriate;
Embody a high performance, proactive culture;
Effectively ensure the adherence to key performance areas, deadlines and goals in order to optimise operational effectiveness;
Effectively communicate resource needs, possible opportunities and achievements to management in order to aid them in their decision-making;
Effectively set and monitor priorities and objectives for more junior staff;
Understand and communicate objectives in relation to the larger organisational impact;
Effectively disseminate knowledge within the correct context, towards subordinates as well as management;
Appropriately model the company values while setting the pace and energy for delivering;
Effectively manage and communicate change within the department in order to increase staff and process effectiveness;
Provide access to accurate and consistent information and services across all channels;
Ensure a seamless experience for clients;
Improve service delivery for clients;
Engage in continuous brand building to become the trusted partners to clients.