Compliance Manager

Primary Purpose

To develop, implement, monitor, and maintain the Bank's compliance risk management framework, ensuring adherence to all applicable regulatory requirements, internal policies, and ethical standards. The role provides independent oversight, guidance, and assurance to management and business units to minimise regulatory, legal, and reputational risk, while fostering a strong culture of compliance throughout the Bank.

Minimum Requirements

Qualifications

• Bachelor's Degree (Audit; Legal: Risk Management)

Experience

• 3 - 5 years regulatory compliance experience in a financial services sector
• Exposure to GACP (Compliance risk management methodology and specifically to compliance
  monitoring and reporting)

Competencies

• Compliance Risk Management
• Knowledge of Banking and Financial Services Legislation
• Regulatory Compliance Monitoring and Reporting
• Audit and Compliance Monitoring
• Regulatory Change Management
• Risk Assessment and Risk Mitigation
• Business Acumen
• Governance and Compliance Frameworks (GACP)
• Report Writing and Presentation Skills
• AML/CFT Knowledge
• Data Analysis and Interpretation
• Policy Development and Implementation

Duties and Responsibilities

Regulatory Risk Profiling

• Advise on Compliance KRI’s (Administrative sanctions like fines; regulator interactions; and developments within industry governance structures (Changes in supervisory approach; international best practice, trending issues etc.)
• Prepare and maintain a Legislative Risk Matrix (informed by the Regulatory Universe) in order to profile compliance risk relating to each business unit/department.
• Stay abreast of and advise on relevant regulatory changes (Existing and new legislation)

Compliance Risk Management

• Develop and maintain comprehensive Compliance Risk Management Plans (CRMP’s) for higherrisk legislation (Requirements, inherent risk ratings; internal controls).
• Provide and document input relating to internal control design and implementation (Policies;
• manage business process flows; Operational Procedure Manuals; Systems User Manuals; Training Manuals & Records Management).
• Maintain and automate CRMP’s for business units/departments (Regulatory& Organisational change).

Compliance Monitoring

• Prepare, implement and maintain a risk-based 2nd LOD Compliance Monitoring Program relating to relevant business units/departments & strategic partners, as part of the annual Compliance Coverage Plan.
• Conduct legislation-based monitoring of the levels of compliance in accordance with the
• Compliance Coverage Plan (Business unit/departments & strategic partners)

Compliance Reviews

• Conduct theme-based business unit/departmental/strategic partner compliance reviews.
• Conduct management surveys as an additional measure to encourage managerial control.
• Provide input relating to new products and distribution channels, as well as review and sign-off on new products/initiatives.
• Perform due diligence exercises when required (i.e. related party on- boarding practices).
• Review reports submitted by other stakeholders to governance forums and structures.
• Review process flows & procedure manuals, forms, checklists, governance and legal documentation (i.e. Terms & Conditions).
  

Administration

• Analyze compliance monitoring and review processes and output, considering the relevant internal audit reports; risk and control self-assessments; regulatory inspection findings etc.
• Identify Key Risk Indicators (KRIs) for specific regulatory requirements (non-compliance event triggers & breach thresholds), including underlying rationale.
•  Log and track progress on the database until resolved; and follow-up on open findings and corrective actions to be taken by relevant stakeholders to remediate non-compliance issues, risks and trends
• Classify and store records properly in required manner and form (paper and electronic) for required periods.

Advisory Services

• Approve advertising & marketing material in order to ensure adequacy of disclosures and compliance with marketing and advertising requirements.
• Prepare compliance training material/modules for business units/departments (on-line and face to face) (induction, customized & refresher training).
• Provide guidance to business units/departments on the specific provisions of applicable existing legislation and standards; and of relevant new regulatory requirements.
• Promote a compliance culture within the bank

This position is advertised in line with our commitment to Employment Equity.