Job title : Risk and Compliance (Cape Town)
Job Location : Western Cape, Cape Town
Deadline : December 21, 2024
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WORKING RELATIONSHIPS
This key role has a functional reporting line to the Head of Risk & Compliance in South Africa. The role also includes regular interaction with other key stakeholders based primarily within the South African offices, when dealing with a variety of compliance duties and risk management responsibilities.
OVERALL PURPOSE
To assist Stonehage Fleming and employees in complying with applicable legislative and regulatory requirements by identifying, assessing, managing, monitoring and reporting on compliance risks facing the organisation.
To assist the Risk & Compliance team in maintaining and executing the compliance monitoring programme, on a risk weighted basis.
To assist the Head of Risk and Compliance, South Africa, in any risk and compliance matters as deemed necessary.
Key Responsibilities
PRINCIPAL ELEMENTS & ACCOUNTABILITIES
To act as the FAIS compliance officer for various local and foreign FSPs.
Apply for, and maintain, FSP licenses:
Responsible for the appointment and/or removal of FSP products, key individuals and representatives;
Responsible for keeping FSP profile information up to date;
Review the adequacy of the supervision template and draft Supervision Agreements between supervisor and supervisee;
Maintain supervision register and ensure supervision is being tracked appropriately;
Assist with the application of new FSP licenses or lapsing of existing FSP licenses (where applicable); and
Prepare reports and regulatory submissions to regulatory authorities.
Fit & Proper Requirements (including Competence Registers & CPD):
Ensure that key individuals and representatives comply with fit and proper requirements including (where applicable) competence relating to RE5 exams, product specific training, Class of Business Training and CPD;
Maintain approval as an accredited CPD provider in order to assist representatives in obtaining the minimum of 18hours in a CPD cycle;
Draft and roll out CPD know how articles to assist with CPD requirements;
Implement CPD plan template to ensure that key individuals and representatives remain fit and proper in terms of their competence requirements; and
Maintain the Competence registers.
Maintain Risk & Compliance Policies & Procedures:
Horizon scanning and responding to regulatory consultations;
Remain up to date on new regulations affecting the organisation, perform impact assessments and update policies and procedures accordingly; and
Ensure employees are educated on the latest regulations and policies.
Combined Risk Assessment (CRA):
Assist with the review of the regulatory universe, assessment and prioritisation of regulatory risk;
Meet with relevant individuals within company to identify, measure and formally document the risks and controls in the CRA; and
Assist with the continual review of and update to the existing CRA with any changes to business process or with regards to any new legislation.
FICA:
Act as Deputy MLRO for various Accountable Institutions;
New Business Acceptance Committee (NBAC): Review and summarise sign-off NBAC opportunities; and
Assist with the review and sign-off of periodic AML risk reviews.
Risk and Compliance:
Create metrics to help track compliance and pull management information in order to provide succinct compliance reports;
Assist with the preparation of compliance reports to management, various committees and governance structures within the Group; and
Attend and present at various committee meetings when the Head of R&C is unable to attend
Other:
Support the business and provide compliance and regulatory advice;
Assist with customer complaints;
Assist with Breach management and complaints: investigation, internal and external reporting and administration;
Review financial promotions/advertisements;
Perform any ad hoc duties that may be required from time to time to assist the Risk and Compliance department in meeting its regulatory obligations.
QUALIFICATIONS
FAIS approved Compliance Officer for Category I and Category II Financial Services Providers.
Regulatory Examinations (RE1, RE3).
RE5 an advantage.
Preferable: recent AML qualification.
EXPERIENCE
Required: At least 5 years compliance/risk/legal work experience in the Financial Services sector.
Preferred: investment related (Category II FSP) and fiduciary/trust experience (Category I FSP).
Good working knowledge of FAIS, CISCA, FICA, POPIA and a solid knowledge of the South African Regulatory Environment in the Financial Services sector.
COMPETENCIES AND SKILLS
Commercial focus, understand the nature of the various group businesses and to determine what needs to be done to comply with applicable legislation and regulation.
Excellent interpersonal skills with the ability to liaise and collaborate with individuals at all levels, being helpful and co-operative whilst working towards team goals.
Solution orientated, dedicated and someone who takes ownership of tasks and responsibilities.
Flexible and able to multi-task, setting appropriate priorities and adhering to deadlines.
Proven project management skills relating to risk and compliance initiatives.
Proven experience of working in a challenging and fast-moving environment, across multiple jurisdictions and with complex products.
Self-motivated and able to use initiative with a strong hands-on approach.
Experience managing FAIS/FICA related queries and engaging with the business.
Ability to motivate others and foster potential.
Ability to think strategically, critically and long term.
Strong understanding of Excel, Work and PowerPoint, with an ability to quickly learn/understand other in-house systems.
Accounting / Financial Services jobs