Chief Compliance Officer (CCO) at Ratio Recruitment

Job description

Rem: R1,300,000.00 ctc p/a - R1,700,000.00 ctc p/a Neg... plus annual performance bonuses

MAIN PURPOSE OF THE POSITION:

The Chief Compliance Officer (CCO) is responsible for overseeing and managing compliance within the Bank, ensuring compliance with applicable regulatory requirements and policies and procedures. As the compliance leader and subject matter expert, the Chief Compliance Officer is responsible for establishing standards and implementing procedures to ensure that the compliance programs are effective in identifying, preventing, detecting and correcting non-compliance with applicable rules and regulations. The Chief Compliance Officer is required to provide reasonable assurance to Executive Management and Head Office that there are effective and efficient policies and procedures in place, well understood and respected by all employees, and that the company is complying with all regulatory requirements.

DUTIES / RESPONSIBILITIES INCLUDE:

• Promoting, leading and managing the culture of practicing compliance across the organisation
• Driving and maintaining the compliance strategy and leading the implementation thereof
• Providing guidance to executive management, senior management, staff, and employees on compliance
• Playing a role as business enabler by advocating solutions to resolve compliance related challenges
• Drafting new and updating existing internal policies and procedures in accordance with regulatory and business requirements, including enhanced due diligence procedures
• Maintaining current knowledge of laws and regulations, keeping abreast of changes, and revising policies and processes in light of changes in legislation and needs of the organization
• Overseeing and monitoring the implementation of internal policies and procedures related to compliance
• Co-ordinating internal compliance reviews and monitoring activities
• Being pro-active in anticipating and addressing compliance risks
• Reporting to relevant committees, Head Office, and to SARB, on a regular basis on compliance matters
• Liaising and collaborating with Internal Audit and Risk to avoid/remediate compliance weaknesses
• Dealing with regulators in respect with on-site visits, licence applications, client complaints and regulatory forums
• Responding to regulatory investigations and queries as the principal point of contact
• Ensuring that all areas of the Bank are compliant with the applicable laws and regulations and ensure that gaps are swiftly identified and measures are put in place to close all gaps identified
• Participating in the approval process for new products and activities
• Attending all interbank meetings relating to compliance
• Drive and oversee the training of all employees on applicable compliance legislation
• Managing Compliance and AML staff within team, conducting staff appraisals and interviewing and recruiting new staff members
• Independently investigating and acting on matters related to compliance
• PEOPLE MANAGEMENT:
• Responsible for managing the Compliance team in a positive and constructive manner,
• encouraging and motivating others and providing guidance where required
• Set adequate and measurable goals / objectives, with ongoing review to aid staff
• development
• Deal effectively with complex and sensitive issues
• STAKEHOLDER ENGAGEMENT:
• Build and maintain strong working relationships with senior and executive management to
• facilitate and accomplish organisational objectives
• Engage effectively and constructively with key clients where necessary
• Engage effectively with regulatory bodies

QUALIFICATIONS, EXPERIENCE, KNOWLEDGE AND SKILLS:

• Legal degree, plus post graduate qualification/s in Compliance
• 8-15 years’ credible and relevant experience in the compliance function of a Bank that has a corporate/institutional client base
• Knowledge and understanding of banking in a Corporate/Investment Banking environment, as well as legislation, rules and regulations relating to banking
• Detailed knowledge of AML/CFT legislation, including experience in establishing/maintaining applicable policies, and successful implementation of AML
• related systems
• Sound technical knowledge of compliance related monitoring systems, and experience in implementing and refining such systems in order to effectively meet regulatory obligations
• Good working knowledge of MS Word, MS Excel and MS Outlook
• Ability to communicate effectively, verbally and in writing
• Strong problem solving abilities, including ability to think clearly and assess matters quickly to solve problems. Proven ability to find solutions to compliance related challenges
• Strong negotiation skills and ability to communicate effectively and persuasively with senior and executive management
• Ability to make well thought out decisions with appropriate foresight
• Experience in overseeing entire compliance function
• Effective leader with proven team leadership abilities

PERSONAL ATTRIBUTES:

• Pro-active self-starter
• Team player with strong commitment to achieving organisational objectives
• Strong leadership and team-building skills, with proven experience in developing and maintaining a strong team
• Emotional maturity
• Personal credibility
• Logical thinking, with strong problem solving and negotiation skills, and ability to influence stakeholders
• Exceptional oral and written, and presentation skills