Overview of position

Background:

• The Federal Republic of Somalia is currently preparing for the Mutual Evaluation by the Middle East & North Africa Financial Action Task Force (MENAFATF) of the country's technical compliance & effectiveness of its Anti Money Laundering / Combat Financing of Terriorism (AML / CFT) Regime. The mutual evaluation is an assessment of the country's measures to combat money laundering, the financing of terrorism & the proliferation of weapons of mass destruction. This includes an assessment of the country's actions to address the risks emanating from designated terrorists or terrorist organisations.

• This mutual evaluation process that is planned to take place in early 2024 is a top priority for the government of Somalia, as a successful evaluation will enable Somalia's public & private sector to engage with global financial institutions &boost the country's ability to attract the necessary foreign direct investments. Additionally, a successful evaluation will also assist Somalia in identifying areas of weakness & thereby pave the way for the necessary government action to rectify these identified shortcomings.

• Our client is recruiting Anti Money Laundering Expert to support the Ministry of Finance to effectively manage the upcoming mutual evaluation.

Purpose & scope of assignment:

• Recognizing the Financial Action Task Force ("FATF") 40 recommendations on combating money laundering & financing of terrorism & proliferation, the related UN conventions & UN Security Council resolutions, as the worldwide accepted international standards in this regard, in addition to any other standards that are adopted by the Arab states to enhance the fight against money laundering & the financing of terrorism & proliferation in the region, The consultant will report to the Senior Project Manager & closely works with Ministry of Finance for the upcoming mutual evaluation to Somalia.

Role objectives

Under the supervision of the Senior Project Manager the individual will perform the following tasks:

• Support the Ministry of Finance for the implementation of the National Anti Money Laundering Committee (NAMLC) directives.

• Take part in NAMLC task force meetings & report to the Senior Project Manager on the progress made in the implementation of NAMLC directives.

• Support the Ministry of Finance's participation in the mutual evaluation task force by acting as a liaison to facilitate communication & coordinate the internal efforts of the Ministry of Finance. This includes assisting in responding to queries, questions & all other requests for cooperation from the Mutual Evaluation Coordinator.

• Share quarterly report to our client for the development of the ministry's compliance with the technical & effectiveness criteria of the mutual evaluation.

• Under the guidance of Senior Project Manager, undertake rigorous assessments of the ministry's compliance with the relevant recommendations of the Financial Action Task Force (FATF) & recommend where necessary ways to address areas of deficiency.

• Work closely with the Financial Reporting Centre (FRC) Director on the implementation of the AML / CFT roadmaps & keep the Senior Project Manager & the relevant parties up to date.

• Build the capacity of the Ministry of Finance in the areas of system filing management including creation of accessible case folders for all tax evasion & tax crimes cases that are being investigated & prosecuted by the relevant authorities.

• Assist the customs department & customs authorities at customs places with the implementation of legal regimes aimed at controlling the cross border movement of currencies & bearer negotiable instruments by keeping the Senior Project Manager up to date.

• Support tributary division of the police & provide the necessary technical assistance aimed at creating transparent case management files for the investigation of tax evasion & tax related crimes & keep the Senior Project Manager abreast for any development.

• Carry out routine financial & economic analyses on the AML / CFT & tax evasion & tax crimes cases & share reports to our client outlining the vulnerabilities of the competent public authorities & recommendations on how to address these vulnerabilities.

• Work closely with the Revenue Directorate of the Ministry of Finance in developing the necessary digital tools to detect crimes of tax evasion & share quarterly progress reports to our client.

Project reporting

This role works under the supervision of the Senior Project Manager & is required to assess the progress made against the assigned deliverables every quarter.

Key competencies

• Master’s degree in financial / economic analysis or banking.

• 10 years of post graduate working experience in a reputable organisation.

• The candidate should have worked in the public sector of Somalia, preferably in the law enforcement the judiciary or other public agencies that are mandated to protect the financial security of the country.

• The candidate shall be able to function routinely at the Ministry of Finance's headquarters in Mogadishu.

• The candidate should have some form of AML / CFT experience.

• The candidate shall be able to employ financial / economic analyses digital tools.

• Candidates certified in the use of financial and economic digital analysis tools are preferred.

• Proficiency in English & Somali is a must.

• Working knowledge of other languages is desirable.

Team management

Team management experience is required for this role.

Further information

Qualified female candidates are encouraged to apply for this role.

Disclaimer:
· At no stage of the recruitment process will CTG ask candidates for a fee. This includes during the application stage, interview, assessment and training.
· CTG has a zero tolerance to Sexual Exploitation and Abuse (SEA) which is outlined in its Code of Conduct. Protection from SEA is everyone’s responsibility and all staff are required to adhere to CTG’s Code of Conduct at all times.