CIB: Monitoring & Testing Officer at Absa

Job Summary

• Execute M&T review activities to the highest quality in terms of the Group Compliance M&T methodology with minimum supervision from the line manager

Job Description

Continue to build confidence and strengthen relationship with internal and external stakeholders as well as ensure that regulatory demands and technical requirements are effectively delivered by business within the agreed frameworks/boundaries.

• Build and maintain effective relations with all relevant stakeholders (example: senior members of business, auditors, operational risk and legal), through formal and informal interactions.
• Work in conjunction with/as part of the broader Compliance team, including any specialised functions pertaining to the assigned business (e.g. Global Compliance Services, Compliance Officers ,COO, Financial Crime, etc.) in order to provide adequate support to the business and ensure that all agreed compliance deliverables have been attained. This would also extend to representing Compliance at Group-level and special projects.
• Provide input to the Compliance Officers on the level of compliance by the business with internal policies and procedures, applicable laws, regulations and rules impacting the business  (e.g. overdue actions and Management Information)
•  Maintain professionalism in all verbal and written communication with stakeholders.
• Demonstrate convincing skills by obtaining buy in and co-operation from business unit management during the execution of reviews as well as identified weaknesses in business processes, with no negative feedback from business unit staff or the line manager.
• Provide business unit management (senior and middle management), Compliance Officers and the line manager pro-actively with continuous feedback regarding the progress of the assignment and concerns to ensure awareness of possible issues and concerns raised by business with a view towards obtaining consensus regarding findings, with minimum comebacks and re-work after the close out meeting, and minimum review notes from the line manager.
• Keep up-to-date on regulatory-related issues across a range of topics by awareness of current regulatory changes, attendance at training sessions and business unit risk forums.
• End to End process review
• Horizon scanning- i.e. taking in to account the issues currently topical e.g. fines/penalties , news headlines pertaining to financial services sector etc.
• Build a people-centric Africa Compliance function through improving employee engagement. 
• Adhere to Barclays' values and internal policies and procedures at all times, in order to contribute towards the image within Compliance, with positive feedback received from colleagues, peers and stakeholders.
• Contribute towards operational efficiency of Compliance by timeously completing the required administrative activities (example: travel bookings, claims, compulsory training).
• Coach, mentor and motivate team members as well as stakeholders by sharing best practice in order to improve their own productivity and use of the bank’s processes and systems.  

Create a difference in the Community/Industry

• Participate in initiatives that make a difference in the community.
• Provide suggestions to stakeholder management on how they can address the control issues identified so that the risk is mitigated and a practical and commercial acumen decision is taken.
• Recommend changes in respect of approved procedures and controls to ensure strict adherence to Compliance requirements – this includes recommendations in respect of amendments to internal procedures, controls and business rules due to changes in policy and regulation.

We operate as an effective and respected 2nd line of defence, in partnership with the business, in the identification, assessment; management and reporting of conduct risks under the new Conduct Risk Principal Risk Framework

•   Manage delivery of all monthly and Monitoring and Testing reports to the Compliance Line Manager and Business, for discussion at the relevant governance forums (example: Quality Circle)
•  Compile any other reports as may be required over and above the standard reports above (e.g. reports on request from stakeholders).
• Ensure that all MI has been captured completely and accurately (reviews and issues) and that the required communication has been sent to business and the Compliance Officers.
• Positively embrace key projects and system changes (e.g. CITAM)
• Monitoring & Testing Reviews are executed as per the requirements of the Global Compliance Monitoring & Testing Methodology as communicated to Stakeholders.
• Execute M&T activities (contracted reviews, special requests and issue validation) to the high highest quality in terms of the BAGL Compliance methodology with minimum supervision from the line manager. Finalise the Compliance Risk Management Plan/ Test Matrix for all contracted reviews, indicating all relevant details pertaining to provisions and controls after input from the Compliance Officers.
• Ensure accuracy and completeness of information captured on CITAM on an ongoing basis.
• Agree on the scope for specific compliance reviews and communicate the planned compliance reviews to the business unit stakeholders accordingly, prior to the commencement of reviews. All reviews should be conducted using the Global Compliance Monitoring & Testing prescribed methods, including the compilation of detailed working papers. The process should include continuous feedback to stakeholders regarding the progress thereof.
• Work with the business unit stakeholders to agree on the findings, risk ratings and remedial action required.
• Ensure all issues identified and planned actions are factually agreed with management as soon as they arise in order to increase the speed of report issuance.
• Track open findings and perform desktop reviews or on-site testing of remedial actions (and supporting documentation) implemented to address reported weaknesses / findings in Compliance reviews. Record progress made towards findings’ closure for management information purposes, and conduct M&T reviews using the review framework defined by Group Compliance. 

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised