ABSA South Africa Stockbrocking and Portfolio Management :Internship : ABSA South Africa

Job Summary

Bring your possibility to life! Define your career with us

Duties and Responsibilities

Job Description

Outputs to deliver this accountability:

Accountability: Provision of KYC Expertise

Check documentation/ mandates to ensure it is correct first time in terms of KYC Regulatory, Business, Legal and Audit Requirements and if not correct full provide full details to the front line in terms of requirements so as to ensure compliancy.
Check and validate files prepared by front line on a trigger event as described in terms of Absa's regulatory policies and framework. Be alert for any information that could be considered suspicious and bring these to the attention of the RE / OB and the Client Relations Manager.
Identify training gaps and escalate to management where applicable in order to up skill frontline staff in order to embed a first-time right attitude and overall regulatory compliance.
Record and escalate nonconformance / deviations from policy and regulatory requirements to management for remediation / corrective action. This entails the recording and maintaining of KYC statistics on a daily basis as determined by Absa's regulatory framework and business rules thus maintaining the necessary risk controls and the prevention of relationships with non-compliant customers, e.g. frontline staff adheres to the process with respect to non-compliant customers before clients are placed into lock up (clients not able to transact on their accounts)
Ensure all documentation is fully complaint before approval is granted to frontline to proceed with instructions thus ensuring that SPM is not in breach of KYC and KAMLS regulatory requirements, e.g. SPM not running a reputational risk and the risk of monetary losses as a result of non-compliance.
Accountability: KYC Regulatory and Compliance Risk Factors

Monitor and control assigned pending matters, e.g. following up on diary dates set for the remediation of noncompliant customer files, etc.
Escalates to the next level if not remediated within the rules of the regulatory framework , this will refer to Exemption 4, outstanding documents, resolutions, etc.
Accountability: Self Development

Remain up to date with all regulatory and compliance related information and Credit Policy issues
Maintain and continuously look for opportunities to further develop skills and knowledge base
Build on a sound understanding of commerciality and the implications of compliance within the workings of Absa Capital
Keep abreast of training initiatives for the Regulatory Compliance environment

Qualifications and Experience

Education and Experience Required

NQF Level 6:
B Degree or Diploma in Commerce, Accounting, Financial Management (Essential)
South African Institute of Financial Markets (SAIFM) Certificate or equivalent to NQF level 5 (Preferred)

How to Apply

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