Head: AML & Compliance (MT4) - Risk Management
Listing reference: capbw_002606
Listing status: Online
Apply by: 24 July 2025
Position summary
Industry: Banking
Job category: Banking, Finance, Insurance. Stockbroking
Location: Windhoek
Contract: Permanent
Remuneration: Market Related
EE position: No
Introduction
The Head: AML and Compliance is responsible for leading the compliance function in Bank Windhoek by providing strategic direction and focus in establishing an effective and efficient compliance risk management framework in the Bank in line with national and international legislative frameworks. The scope of the responsibility is focused on Bank Windhoek with AML support to compliance functions in Capricorn group entities.
Job description
KEY PERFORMANCE AREAS
• Provide strategic leadership for the AML/CFT/CPF, Compliance and Exchange Control, Third Party Risk Management (TPRM) function for Bank Windhoek.
• Provide support to entities within the Capricorn group which includes formal contracting of compliance services through SLAs.
• Perform general management activities in relation to the compliance team. This includes the appropriate use of technology, conducting effective processes, appropriate organisations structure and employing people with the rights skills.
• Report to relevant governance committees such as Bank Windhoek Executive Management Committee and the Board Risk and Compliance Committee.
• Responsible for developing and implementing appropriate risk mitigating strategies within the Compliance and TPRM environment to ensure strict adherence to all the Bank’s policies and procedures as well as regulatory and compliance requirements.
• Responsible for maintaining Bank Windhoek’s strategic relationship with the Bank of Namibia and the Financial Intelligence Centre.
• Take charge of growing and maintaining Bank Windhoek’s relationships with other local Financial Institutions and industry bodies to ensure we keep abreast with current events, changing trends, business drivers, best practices and legislative requirements within the industry to proactively identify any possible risks to the Bank.
• Implement appropriate and effective compliance AML and TPRM training strategies.
• Stay abreast of all TPRM, legislative and regulatory developments both locally and globally that might have an impact on the Bank.
• Ensure coordination of the TPRM function within the Bank;
• Design and implement a legislative review process to pro-actively determine the impact of new legislation, rules and regulations on the Bank and the actions needed to comply, assign responsibility for the changes and trigger the necessary change process.
• Determine the impact of current and new legislation, rules and regulations on Bank Windhoek, its current/new projects and current/new products.
• Monitor non-compliance and escalate any issues where non-compliance is not addressed.
• Coordinate efforts related to audits, reviews, and examinations by regulators and independent assessors.
• Establish and continuously improve a consistent operating framework for the identification, management, monitoring and reporting of Compliance risks and issues.
• Develop an appropriate TPRM and compliance communication strategy and facilitate the implementation across Bank Windhoek.
• Responsible for the review, challenge and roll-out of Group Compliance Policies and standards.
• Provide specialist advisory services to Business Units in respect of development of local policies and standards relating to regulatory compliance, AML and TPRM as required.
• Monitor non-compliance and escalate any issues where non-compliance is not addressed.
• Liaise with Risk Management and Internal Audit on risk related issues, as well as non-compliance with internal policies, legislation, rules and regulations.
• Ensure periodic AML/CFT/CPF Risk Assessments when prompted by Group AML on all products and services of Bank Windhoek
• Ensure risk assessments are conducted for existing and potential third parties;
• Ensure that all employees are aware of the compliance measures, including policies, procedures, control mechanisms and the channel of reporting.
• Manage correspondent banking relationships.
• Participate in the yearly review of service providers’ i.e Fintech and other third parties.
• Discuss, formulate and obtain approval from Group on specific Compliance system adjustments as required by the business' specific needs.
• Define the local requirements, scope and deliverables for projects or LBCs before the PI in which the project is to be prioritised.
• Manage the execution of Compliance projects.
• Promote a compliance and TPRM culture throughout Bank Windhoek.
Competency Profile
Knowledge
- Computer literate (Word, Excel, PowerPoint);
- Good knowledge of Compliance requirements at local and international level and a sound appreciation of the overall regulatory agenda and objectives.
- In depth knowledge of and general familiarity with prevention of money laundering and financing terrorism (AML/CFT).
- Advanced understanding of financial services and Banking will be an advantage.
Minimum requirements
Qualifications
• 4-year Degree with Legal, Compliance, Risk Management or Audit focus
• Degree/Diploma in Compliance Management or related field will be a distinct advantage.
• Certification in a professional association such as the Association of Certified Anti Money Laundering Specialists (ACAMS) or Compliance Institute in South Africa (CISA would be a distinct advantage.
• Degree/Diploma in Compliance Management or related field will be a distinct advantage.
• Certification in a professional association such as the Association of Certified Anti Money Laundering Specialists (ACAMS) or Compliance Institute in South Africa (CISA would be a distinct advantage.
Experience
• At least 10 years’ experience in Anti Money Laundering, Compliance, Legal, or audit fields preferably in a banking environment
• At least 5 years in a management capacity
• At least 5 years in a management capacity