The Role:
This role is responsible for:
• Monitoring, implementing and maintaining all compliance activities.
• Identifying, assessing and managing relevant risks.
• Developing, implementing, and maintaining the necessary risk and compliance frameworks.
• Provides guidance on exchange control practices and exchange control consulting to clients.
Key Requirements:
It is desirable that the candidate has proven expertise in both business and technical facets of the role including:
• A degree in commerce is recommended.
• Membership of the Compliance Institute of Southern Africa is recommended.
• Minimum 5 years of risk and compliance experience is required.
• Ability to influence change and to provide practical guidance on the implementation of new requirements/initiatives.
• Demonstrated ability to deliver well-written, succinct but comprehensive reports within agreed timeframes.
• Proven organisational skills, including the ability to prioritise work to ensure deadlines are consistently achieved.
• High degree of initiative and motivation.
• Demonstrated influencing and negotiation skills with a professional approach, and an ability to overcome resistance.
• Proven ability to implement and manage a customer-focused service delivery and performance management culture.
• An ability to work under pressure in a rapidly changing environment to deliver organisation targets.
• Demonstrated skills in stakeholder management and developing trusted relationships.
• Demonstrated ability to distil complex issues into succinct and easily understood language that conveys key messages successfully at all levels of the organisation.
• Communications skills, both verbal and written (English & Afrikaans) with excellent grammar and spelling.
• Demonstrated and applied knowledge of relevant regulatory and compliance frameworks.
Key Responsibilities:
Compliance:
• Monitor, guide and provide internal training on compliance matters related to:
o Financial Services Board and related legislation (e.g. FICA, FAIS, etc.).
o Protection of Personal Information (PoPI) Act.
o Any other relevant legislation associated with a compliance environment of a FSP.
• Identify and conduct internal investigations of compliance matters.
• Develop audit schedules, conduct, and report on outcomes of internal audits to ensure adherence to all compliance requirements.
• Develop and/or regularly review policies and procedures to ensure compliance requirements are accurate and up to date.
• Compile and file appropriate compliance reports to the regulatory agencies.
• Plan, schedule and provide compliance training.
• Collaborate with regulatory agencies when compliance reviews are conducted.
• Prepare monthly management reports regarding compliance operations and progress.
• Develop and implement corrective actions where compliance shortcomings were identified.
• Maintain and safe-keep all compliance-related documentation.
• Develop and implement improvements in communication, monitoring, or enforcement of compliance standards.
• Responsible for implementing and enforcing the organisation's or business units' compliance programs.
• Prepare compliance reports for the quarterly Audit & Risk Committee of the Board.
Risk:
• Update and maintain the risk management framework.
• Continuous evaluation of internal and external business environments, identifying trends, statutory changes, opportunities and threats, and anticipate possible implications for the organisation.
• Evaluate, support, and oversee risk management activities.
• Plan and conduct monthly risk audits and report findings.
• Prepare monthly management reports regarding risk operations and progress.
• Monitor, assess and report the impact of any regulatory changes.
• Plan, schedule and provide risk training.
• Monitor the maintenance and update of Risk Registers across the business, conduct quarterly reviews, update as needed, and report outcomes.
• Monitor the development and implementation of necessary controls to mitigate identified risks.
• Review, analyse and monthly report incidents recorded on the Incident Registers.
• Execute daily medium (level 2) and high (level 1&2) risk ratings.
• Prepare risk reports for the quarterly Audit & Risk Committee of the Board.
Key Relationships:
Internal and external relationships; level of interaction and purpose.
Internal (Primary):
• Chief Financial Officer (CFO) – to seek advice, direction and guidance on matters affecting the business's image, reputation, and brand.
• Chief Operating Officer (COO) – to share insights, to seek advice and enhance the reputation of the business as perceived by its customers.
Internal (Secondary):
• Heads & Leads – to consult and seek input on financial/business risks, controls, mitigating actions and response.
External:
• Customers.
• Service providers and partners.
• Regulatory agencies (SARS, SARB).
Additional Information:
• Employment Engagement - This is a permanent position with the company. The incumbent will be employed under an employment contract that specifies employment terms and conditions including salary.
This description is a general statement of required major duties and responsibilities performed on a regular and continuous basis. It does not exclude other duties as assigned.