Simi Shwabade

Drafting and reviewing Risk Management & Compliance Programme [RMCP] Conducting Anti-Money Laundering (AML) trainings Assist with reporting unusual and suspicious transactions (STRs) and Cash Threshold Transactions (CTRs)

AML & Anti-Fraud Consultant - M.R. Consultancy Services

(2026-01)

• Drafting and reviewing Risk Management & Compliance Programme [RMCP]
• Conducting Anti-Money Laundering (AML) trainings
• Assist with reporting unusual and suspicious transactions (STRs) and Cash Threshold Transactions (CTRs)
• Assisting with the FIC Directives and compliance thereof
• Providing assistance and advising on the on-boarding and due diligence processes
• Conducting fraud risk assessments, investigations, consolidate programmes and registers
• Conducting forensic investigations for private and public institutions.

Senior Inspector - Financial Intelligence Centre (FIC)

(2024-01 - 2025-12)

• Conducting on-site and off-site AML/CFT risk-based and forensic inspections across all sectors country-wide, including state-owned entities, to improve compliance in line with the Financial Intelligence Centre Act and Financial Action Task Force standards.
• Combating financial crimes through ensuring change in AML compliance behavior
• Guiding and leading the team and stakeholder
• Craft, monitor and manage the inspection plan for the financial year
• Supervising and mentoring team members during risk-based and forensic inspections, evidence gathering and conducting interviews with Accountable institutions
• Review quality of draft reports from team members
• Monitor and manage performance registers of team members
• Conduct data analysis – systems and documentary evidence, including bank statements.
• Conduct forensic investigations and compile intelligence reports
• Co-ordinate the remedial action process, file closure and record keeping
• Implementing recommendations and gathering of reporting information and partaking in meetings for Mutual Evaluation (Grey-listing)

Senior Compliance Officer - Financial Intelligence Centre

(2019-02 - 2023-12)

• Investigate financial crimes, produce reports for stakeholders, ensuring AML/CFT compliance monitoring through compliance reviews and make referrals where necessary
• Responsible for stakeholder management, through quarterly meetings - Supervisory Bodies (SARB, JSE, FSCA), state-owned entities and accountable institutions
• Providing guidance on AML compliance to accountable institutions through meetings, presentations and report recommendations
• Convening meetings with various (traditional and digital/ technology-driven) banks to assist the with FIC Directive 03/2014 and Directive 05/2019
• Handling and approving responses of complex compliance queries from the public collated through the public portal system
• Participation in research papers and assessments and providing inputs to certain typologies and PCCs
• Guiding and leading the team when planning, conducting interviews and quality-checking deadline-driven reports
• Monitor and manage performance registers of team members
• Stepping in and act as a manager when required Implementing recommendations and gathering of reporting information and partaking in meetings for Mutual Evaluation (Grey-listing)

Manager- Fraud Prevention & Anti-Money Laundering - Group Ithala Development Finance Corporation

(2014-04 - 2018-03)

Fraud prevention function – Group level:

• Managing fraud prevention through fraud prevention programs
• Development and review of anti-fraud policies
• Management of two whistle-blowing hotlines
• Facilitation of fraud risk assessments
• Conducting quarterly fraud prevention awareness
• Manage and update fraud risk registers.
• Conducting forensic fraud investigations through interviews, secure evidence, reporting writing, and reporting
• Stakeholder relationship management
• Human resource management and act as Divisional manager when required
• Prepare and update monthly and quarterly reports for various committees and the Board

Manager- Fraud Prevention & Anti-Money Laundering - Group Ithala Development Finance Corporation

(2014-04 - 2018-03)

Compliance management function – Group level:

• Manage and review regulatory universe and the annual compliance plan
• Responsible for all AML operations in synchronization with business products and systems
• Ensuring successful configuration of reporting systems (i.e. Enterprise Solutions, Temenos) to avoid reporting failures to regulators
• Engaging various business departments (IT, Training & Development and product owners)
• Review compliance management policies for Board's approval.
• Conducting investigation and timeous reporting of Suspicious and Unusual Transactions (STRs), SARs, IFTRs, TPRs and CTRs.
• Review AML/CFT policies and procedures (Business Risk Assessment and RMCP), vetting training manuals and liaise with stakeholders
• Conducting AML compliance audits in various departments and branches, testing KYC, CDD, client screening - enhance due diligence, reporting, record-keeping etc.
• Drafting and issuing of compliance audit reports with findings and recommendations, with timelines.
• Prepare presentations for on-site visits/inspections by the regulators (FIC, SARB and FSCA)
• Ensuring findings and recommendations by regulators and auditors are attended to timeously
• Ensuring proper custody of records for regulators (i.e. training manuals, training attendance registers, STR and TPR reports etc.)
• Preparing of Fraud detection, prevention and AML reports for various management committees and the Board.

Compliance Analyst - Group Ithala Development Finance Corporation

(2011-01 - 2014-03)

• Ensuring compliance with various legislative frameworks. Create and update compliance universe.
• Conducting compliance audits to various branches
• Drafting and issuing compliance audit reports with findings and recommendations
• Managing and updating annual compliance programme.
• Reviewing and updating compliance policies and procedures
• Preparing monthly/quarterly reports for various management committees
• Preparing presentations for regulator on-site visits
• Ensuring good internal compliance culture, good relationship with regulators and prevention of non-compliance and sanctions/fines.

Bank teller/Client Advisor/Compliance and Risk officer - Ithala Bank Limited

(1994-11 - 2010-12)

Retail Banking

• Provision of various banking services to customers and supervision of the branch network.
• Cross-selling of new products to clients
• Managing and dispensing cash to clients
• Management of the risk registers
• On-site visits to branch network for AML testing
• Development and review of policies for existing and new products
• Management and monitoring of daily transactions
• Monitoring of daily exception reports
• Partaking in testing new banking systems and new system development and request
• Managing and co-coordinating the work of AML compliance champions to improve compliance

Post Graduate Diploma - Compliance - University of Johannesburg (2017)

B.Com Degree - University of South Africa (2006)