Compliance Business Partner-Retail at Massmart

About the job

Summary

The Compliance Business Partner will ensure that the compliance programmes are implemented at a divisional level through collaboration with the Centre of Excellence in identifying, measuring, creating awareness, monitoring and mitigating risks within the business.

FUNCTIONS / RESPONSIBILITIES:

Risk Identification and Mitigation  

• Proactively identify, assess, and mitigate operational compliance risks, including risks relating to new or changing regulatory requirements, industry practices, and business initiatives.

• Leading the development of cross-functional, multi-program efforts to implement cost-effective risk mitigation strategies.

• Evaluating and measuring operational processes in order to close compliance gaps and continually improve programs and services.

• Adhering to additional requests from business stakeholders by actively participating in risk identification, mitigation and/or remediation at regional and store operational levels.

Compliance Programme Involvement and Partnership Massmart Compliance Programme

• Assist in coordination and implementation of the Compliance programmes within the Division i.e.; assist in development and implementation of remedial measures and strategic approaches for minimizing compliance related risks within the Division, coordinate and assist in resolution of red flags (warning signs) and provide general as well as forensic data analytics support to the investigations and FCPA teams in the Massmart Forensics and Ethics and Compliance (“E&C”) groups.

• Provide support and advice on the relevant regulatory requirements and compliance programs for each of the 14 Subject Matter Areas.

• Maintain adequate compliance data, records, and manuals system with associated repository for audit and reference purposes.

• Responsible for communication with process owners to ensure an appropriate compliance culture.

• Engage with Massmart Ethics and Compliance to assist and facilitate the planning of the required Massmart Compliance on-going monitoring and reviews as and when required.

• Supplement further assurance reviews, either internally or externally, within areas of concern or within significant compliance disciplines within the Division.

• Facilitate remediation and follow through on all areas where there are concerns with compliance levels, including, regulatory visits with issues, audit findings relating to compliance, continuous improvement review findings, fire watch, etc.

• Monitor and guide divisional stakeholders in sustainable remediation in order to ensure reduced exposure and timely closure of all Ethics and Compliance exceptions identified in regard to the following –

                         i. Massmart Audit Findings

                         ii. Continuous Improvement Programme Monitoring

                         iii.Regulatory Contacts with issues.

                        iv.Anti-Corruption Level 1 and Level 2 Monitoring

                        v. Manage performance of high level reviews within areas of concern or within significant compliance areas identified

                        . within the Division

• Provide on-going communication to all divisional stakeholders to support an appropriate compliance culture

• Develop a clear understanding of the business strategy and facilitate compliance

                    (i) integration striving for competitive advantage and trust

                     ii)Understanding on how E&C objectives live in business 

                    iii)Strategic plan communicated and shared with business to ensure consideration and inclusion in business strategy

                   iv) Partnership by design

                   l) Proactively conduct risk identification and risk mitigation exercises, for relevant BU, related to ethics and compliance and            

                      work together with COE to address risks.

Compilation & Management of the Risk Committee Reports       

• Maintain compliance dashboard and scorecards for the Division.

• Review of monthly and quarterly Compliance Reports.

• Evaluate, refine and align the Division’s Risk Management activities, policies and programs with the Massmart

• risk management framework.

• Coordinate, facilitate and manage the development and maintenance of Divisional Risk Registers and to ensure that risk reporting is undertaken in an appropriate way for different audiences.

• Coordinate and facilitate the embedding of the required Massmart standards into the Division’s risk management framework and programs.

                     iv)           Provide support, education and training to build compliance related risk awareness across the Division;

• Manage all compliance reporting regarding this based on declaration cycles.

• Facilitate the coordination of ethics and compliance reports across the division.

• Representative function of Ethics and Compliance at Risk Committee

Business Relationships and Stakeholder Engagement 

• Maintain a strong relationship and forge partnerships with internal Stakeholders for the relevant division, i.e. Divisional Legal and Internal Audit to protect and promote the company’s reputation for compliance, the Divisional owners of the 14 Subject Matter Areas.

• Maintain a strong relationship and forge partnerships with COE, i.e. SMEs and Compliance Programme Team to protect and promote the company’s reputation for compliance, the liaisons/point of contact of the 14 Subject Matter Areas for the division.

• Maintain a strong relationship and forge partnerships with external Stakeholders for the relevant division, i.e. External Audit and Consultants, Compliance Institutes, Government Regulatory bodies and External Compliance Assessment bodies.

• Interact with and respond to regulatory reviews at all levels.

• Directing colleagues’ involvement with regulators to ensure facility compliance with all environmental matters.

Meetings/Committees        

• Arrange and Attend Business Stakeholder Meetings held regularly to feedback, report and provide advice on compliance areas.

• Arrange and Attend Ethics Compliance Forums related to specific SMAs

• Arrange and Attend business specific projects that require compliance input

Training and Awareness

·       Assist regulatory compliance training and communication program with associated protocols for significant non-compliance matters across the division, this through collaboration with the Massmart Training and Communications Manager.

Research

• Maintain and assist in awareness of best practice techniques and tools in an area of compliance risk management so that the department optimizes efficiency and levels of service to internal customers.

• Maintain an on-going awareness of statutory and legal requirements and ensure that these are communicated to all relevant employees so that the company fulfills its statutory and legal requirements, as per the SMAs.

Governance         

• In consultation with the relevant stakeholders including the Legal Counsel, develop and maintain an appropriate Governance strategy, and program for the Division, including all markets and ensure alliance to Massmart.

• Implement and maintain governance policies, activities and programs for the Division.

• Providing a strong central oversight to guarantee consistency and quality in governance processes across the Division.

• Maintain appropriate governance records, through appropriate repositories. [Limits of Authority, Resolutions, Committee Charters, Governance Policies on Intranet].

Ways of Working

• Ensure appropriate escalation and communication of compliance matters to relevant stakeholders and Operational Compliance Lead.

• Collaborate and influence across in-market subject matters and business stakeholders.

• Influence, persuade, counsel, develop relationships and gain credibility with key stakeholders.

• Get involved in problem solving of operational issues, as per request from business stakeholders

Policy, Process and Document Management  

• Ensure simplicity in instruction and practicality of all mitigation controls and disciplines.

• Makes sure there are clear and measurable standards for controls and discipline within the business.

• Manages follow-up on changes made to assess refinement requirements to the enhancements made, documentation, functionality, etc.

• Responsible for the management of basic reference manuals and an associated repository.

• Ensures an appropriate update regimen for the reference material.

• Identifies non-compliance and associated exposure and escalates or remediates where warranted.

• Provides MAS with the documentation for commentary prior to being issued to facilitate the attainment of changes and will constitute an independent review.

Requirements:

Minimum Academic, Professional Qualifications & Experience required for this position

Law/Business degree and 5 years’ experience in regulatory compliance or related field. Compliance/Risk/Internal audit experience with compliance as a subject matter.