Anti Money Laundering Analyst

The purpose of this qualification is to prepare a learner to operate as an Anti-Money Laundering Analyst. An Anti-Money Laundering Analyst monitors and analyses data relating to the movement of money and assets, investigates the legitimacy of these transactions within the local, national and international frameworks, regulations and guidelines and reports on it. A competent candidate shall demonstrate among others the following attributes: honesty, punctuality, initiative, critical analysis, integrity, ethics, professionalism, etc. A qualified learner will be able to: • Conduct screening of clients, business relationships and monitor transactions to identify risks associated with money laundering, sanctions, bribery, corruption financing of terrorism practices and related financial crime. • Investigate the identified risks associated with money laundering, sanctions, bribery, corruption financing of terrorism practices and related financial crime. • Continually research and identify new risks/red flags in the area of money laundering, sanctions, bribery, corruption financing of terrorism practices and related financial crime. • Develop and submit appropriate analysis reports on the risks associated with money laundering, sanctions, bribery, corruption financing of terrorism practices and related financial crime.

This qualification has been developed for Anti-Money Laundering Analysts. With financial crime more prevalent than ever, it is important that both companies and governments develop measures to curb it. The most common way to prevent it, is to implement anti-money laundering policies that prevent the smuggling of illegally-obtained funds. Most countries now have anti-money laundering policies, and many require that all financial institutions strictly abide by these policies in order to support efforts against financial crime. The work of these analysts is not limited to financial crime, it also embraces the detection and prevention of the flow of money and assets for the use by internationally recognised terrorist groups. Internationally there is a shortage of properly qualified individuals for this important work. This qualification has the aim of creating a pathway for current employees, in this field, to obtain an appropriate Occupational Qualification that will enable them to progress within the discipline. The qualification also creates a career pathway for new entrants into the industry. The work is not limited to one sector, the need for these analysts exists within all financial services providers such as: - Banks, Insurance Agencies, Estate Agencies, Retail Finance Providers, Gaming Industry, etc. This is a growing employment situation, the role has been identified as a critical and scares skill and it supports the spirit of the National Development Strategy. Meeting the international policies and standards relating to clean governance is critical for South Africa to access investments and global trade opportunities. Foreign direct investment result in job creation and economic growth for the country. This qualification contributes towards creating this environment. The qualification was developed in collaboration with South African Banking Risk Information Centre (SABRIC) and participation of major banks in South Africa.

Recognition of Prior Learning (RPL): RPL for access to the external integrated summative assessment Accredited providers and approved workplaces must apply the internal assessment criteria specified in the related curriculum document to establish and confirm prior learning. Accredited providers and workplaces must confirm prior learning by issuing a statement of result or certifying a work experience record. Learners who have been certified competent in some or similar modules through a statement of results from an accredited provider may be granted access to the EISA and credited for those modules after verification through Integrated Formative Assessment. RPL for access to the qualification Accredited providers and approved workplaces may recognise prior learning against the relevant access requirements. Learners who are competent in some modules after an integrated RPL assessment shall be awarded credits towards relevant modules by issuing a statement of results and granted access to the qualification for learning. Entry Requirements: The minimum entry requirement for this qualification is: • NQF Level 4 qualification.

• Conduct screening (due diligence) of clients and monitoring of transactions to identify risks associated with money laundering, sanctions, bribery, corruption, the financing of terrorism and related financial crimes.
• Investigate the identified risks associated with money laundering, sanctions, bribery, corruption, financing of terrorism and related financial crimes.
• Continually research and identify new risks/ red flags in the area of money laundering, sanctions, bribery, corruption, financing of terrorism and related financial crimes.
• Develop and submit appropriate analysis reports on the risks associated with money laundering, sanctions, bribery, corruption financing of terrorism practices and related financial crime.