Money Laundering Compliance Officer

Job Mission / Objective:

To establish, implement, maintain and oversee the Bank’s Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), Counter-Proliferation Financing (CPF), sanctions compliance and financial crime risk management framework. The MLCO is responsible for ensuring compliance with applicable regulatory requirements, internal policies and industry best practices, while providing independent oversight and advisory support to the business.

Requirements

AML/CFT Compliance Framework:

• Develop, implement and maintain the Bank’s AML, CTF, CPF and sanctions compliance programmes.
• Ensure policies, standards, procedures and controls remain aligned with regulatory requirements and industry best practice.
• Conduct periodic reviews of the AML programme and recommend enhancements where necessary.
• Ensure effective implementation of the risk-based approach across the Bank.

Regulatory Compliance:

• Monitor compliance with applicable legislation, regulations, directives and guidance issued by regulatory authorities.
• Act as the designated AML compliance officer where required by regulation.
• Liaise with regulators, supervisory authorities and law enforcement agencies on AML related matters.
• Coordinate regulatory inspections, audits and information requests.
• Ensure timely submission of all regulatory reports and statutory returns.

Financial Crime Risk Management:

• Identify, assess, monitor and mitigate financial crime risks across products, services, channels and customer segments.
• Conduct and maintain enterprise-wide AML risk assessments.
• Review emerging financial crime risks and recommend mitigating controls.
• Monitor effectiveness of financial crime controls and risk indicators.

Customer Due Diligence (CDD) ;

• Oversee customer onboarding and due diligence frameworks.
• Ensure compliance with Know Your Customer (KYC), Customer Identification and Verification requirements.
• Review and approve enhanced due diligence (EDD) cases.
• Provide guidance on high-risk customers, politically exposed persons (PEPs), correspondent banking relationships and complex ownership structures.
• Ensure periodic customer reviews are completed in accordance with risk ratings.

Transaction Monitoring and Investigations:

• Oversee transaction monitoring processes and systems.
• Review unusual and suspicious transaction investigations.
• Ensure appropriate escalation and investigation of alerts.
• Monitor quality and effectiveness of monitoring rules and scenarios.
• Recommend enhancements to transaction monitoring controls.

Suspicious Activity Reporting:

• Review and assess suspicious activity referrals.
• Determine whether suspicious transaction/activity reports should be filed.
• Ensure reporting obligations are met within prescribed regulatory timeframes.
• Maintain records relating to investigations and regulatory filings.

Sanction Compliance:

• Oversee sanctions screening programmes.

• Provide advice regarding sanctions risks and restrictions.
• Review sanctions alerts and escalations.
• Monitor developments in local and international sanctions regimes.
• Ensure appropriate controls for sanctions compliance are maintained.

Governance and Reporting:

• Prepare management and board reports on AML and financial crime matters.
• Present financial crime risk trends, incidents and key metrics to governance committees.
• Maintain AML-related management information and reporting dashboards.
• Escalate material compliance breaches and financial crime risks.

Training and Awareness:

• Develop and deliver AML, sanctions and financial crime awareness training.
• Promote a culture of compliance throughout the organization.
• Ensure employees understand their AML obligations.
• Maintain records of mandatory compliance training.

Advisory Support:

• Provide AML and financial crime advice to business units.
• Participate in product approval and change management processes.
• Review new products, services and delivery channels for financial crime risks.
• Support business units in implementing appropriate controls.

Monitoring, Testing and Assurance:

• Conduct compliance monitoring reviews and thematic assessments.
• Track remediation of identified findings.
• Support internal and external audits.
• Evaluate effectiveness of AML controls and recommend improvements.

Academic Requirements:

• Bachelor’s Degree in Law, Risk Management, Finance, Accounting, Commerce or related field.
• Relevant AML/Compliance certification preferred (e.g. CAMS, ICA, CFE, AML CPrac or equivalent).
• Postgraduate qualification advantageous.

Work Experience:

• 5–7 years’ experience in AML, compliance, financial crime, risk management or banking operations.
• 8–10 years’ experience in AML/compliance within banking or financial services.
• Experience managing AML investigations, transaction monitoring and regulatory engagements.

Skills / Specialized Know How:

• Anti-Money Laundering legislation and regulations.
• Counter-Terrorist Financing requirements.
• Sanctions compliance frameworks.
• KYC and Customer Due Diligence requirements.
• Financial crime typologies and emerging risks.
• Banking products and services.
• Regulatory reporting obligations.
• Corporate governance and risk management principles.

All appointments will be made in line with Access Bank’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals living with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

Benefits

• Medical Aid
• Pension Fund
• Work From Home
• Training & Development