Perform ongoing surveillance, analysis and examination of Anti-Money Laundering and Counter Financing Terrorism (AML/CFT) in reporting entities in line with the Bank of Zambia AML/ CFT examination procedures in order to assess money laundering and terrorist financing risks and compliance with applicable legislation (such as BFSA, FIC Act, FIC Regulations, PPML Act, BOZ AML Directives and any other relevant legislation).

Main Accountabilities

• Analyse regular returns submitted by reporting entities to ensure that they comply with AML/ CFT requirements.
• Identify AML/ CFT breaches by reporting entities to facilitate prompt corrective actions.
• Initiate the preparation of weekly, monthly, and quarterly off-site AML/CFT analysis reports to ensure that supervisory concerns are effectively resolved.
• Provide input to the various reporting requirements of the Department as and when required (i.e. reports to the Supervisory Policy Committee and Management).
• Analyse the adequacy of AML/ CFT risk assessments of reporting entities to ensure proper risk categorisation of customers by type, products, delivery channels, and geography.
• Validate both financial and non-financial reports and records of reporting entities to determine adequacy of the AML/CFT programmes and internal controls.
• Review and analyse reporting entities’ AML/CFT training programmes to determine that the training is ongoing; and that all staff are trained including senior management and the board; and that the training content is appropriately pitched.
• Attend to reporting entity and customer enquiries on AML/CFT to ensure timely resolution of matters raised.
• Review AML/CFT policies and procedures of reporting entities to ensure the adequacy and alignment to national and international AML/ CFT standards.
• Review and assess the stature, independence, and resources of the reporting entities’ Compliance Function to determine its ability to perform its compliance oversight.
• Analyse independent reviews of compliance function by internal auditors, external auditors and other reviewers and responsiveness of the function to the findings.

Qualifications and Experience

• Bachelor of Arts in Economics, Business Administration, Bachelor of Laws or equivalent
• Grade 12 School Certificate with five (5) ‘O’ Levels (credit or better)
• ACAMS and other AML/CFT accreditation is an added advantage
• 3 years’ relevant experience

Key Knowledge and Attributes

• Knowledge of AML/CFT standards and assessment methodology
• Knowledge of applicable legislation
• Good understanding of financial sector operations