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  • Posted: Nov 18, 2021
    Deadline: Not specified
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  • Lets find opportunities together. Lets get it done. As a subsidiary of The Bidvest Group Limited, were an entrepreneurial bank that seeks out the opportunities and market gaps which traditional banking often ignores. By being flexible and nimble, were able to service our customers better than anyone else. How? We understand that no two individuals are ali...
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    Compliance Manager

    ABOUT THE POSITION

    • Perform on-going pro-active compliance risk management activities and advisory services as part of the Bank's Compliance Function (2nd Line of Défense), as per Generally Accepted Compliance Practice (3 Lines of Défense Model), to contribute towards maintaining a compliance culture within the Bank.
    • Improving the maturity of the compliance function, and ensuring acceptable levels of compliance to regulatory and policy requirements as per the Bank's legislative risk matrix (derived from the regulatory universe), compliance risk framework, policies and procedures.
    • Perform ongoing monitoring, data analysis and reporting on the levels of compliance to legislation, standards and policy requirements as per the Bank's regulatory compliance risk indicators, in order to ensure that compliance risk (regulatory & reputational) to the Bank and its Strategic Alliance Partners is adequately understood and mitigated.

    RESPONSIBILITIES:

    Regulatory Risk Profiling:

    • Advise on Compliance KRI's (Administrative sanctions like fines; regulator interactions; and developments within industry governance structures (Changes in supervisory approach; international best practice, trending issues etc.).
    • Prepare and maintain a Legislative Risk Matrix (informed by the Regulatory Universe) in order to profile compliance risk relating to each business unit/department.
    • Stay abreast of and advise on relevant regulatory changes (Existing and new legislation).

    Compliance Risk Management:

    • Develop and maintain comprehensive Compliance Risk Management Plans (CRMP's) for higher-risk legislation (Requirements, inherent risk ratings; internal controls).
    • Provide and document input relating to internal control design and implementation (Policies; Business Process Flows; Operational Procedure Manuals; Systems User Manuals; Training Manuals & Records Management).
    • Maintain and automate CRMP's for business units/departments (Regulatory& Organisational change).

    Compliance Monitoring:

    • Prepare, implement, and maintain a risk-based 2nd LOD Compliance Monitoring Program relating to relevant business units/departments & strategic partners, as part of the annual Compliance Coverage Plan.
    • Conduct legislation-based monitoring of the levels of compliance in accordance with the Compliance Coverage Plan (Business unit/departments & strategic partners).

    Compliance Reviews:

    • Conduct theme-based business unit/departmental/strategic partner compliance reviews.
    • Conduct management surveys as an additional measure to encourage managerial control.
    • Provide input relating to new products and distribution channels, as well as review and sign-off on new products/initiatives.
    • Perform due diligence exercises when required (i.e. related party onboarding practices).
    • Review reports submitted by other stakeholders to governance forums and structures.
    • Review process flows & procedure manuals, forms, checklists, governance and legal documentation (i.e. Terms & Conditions).

    Data Analysis:

    • Analyse compliance monitoring and review processes and output, considering the organisational culture, relevant internal audit reports; risk and control self-assessments; regulatory inspection findings etc. in order to ensure data integrity, prevent re-occurrence of non-compliance and identify trends.
    • Identify Key Risk Indicators (KRIs) for specific regulatory requirements (non-compliance event triggers & breach thresholds), including underlying rationale.

    Compliance Reporting:

    • Report on the levels of compliance with relevant legislation and standards to management and the heads of the relevant business units/departments & strategic partners (i.e. Credit; Finance; Risk), as well as to the Bank's senior management and risk management structures/committees.
    • Obtain details of proposed corrective measures to remediate findings (non-compliance and internal control gaps/weaknesses) in order to ensure compliance going forward and report on progress against plan until closure.

    Project Management & Administration:

    • Log and track progress on the database until resolved; and follow-up on open findings and corrective actions to be taken by relevant stakeholders to remediate non-compliance issues, risks and trends.
    • Manage/conduct regulatory change implementation projects.
    • Manage/conduct regulatory change impact assessments.
    • Manage Reg Tech projects.

    Record Keeping:

    • Classify and store records properly in required manner and form (paper and electronic) for required periods.
    • Maintain a due diligence database of legal interpretations relating to compliance requirements.

    Compliance Training:

    • Manage the implementation and delivery of compliance training as per the Training Program for business unit/departmental & strategic partner staff.
    • Physically train staff in a class-room format; and do proficiency assessments.

    Advisory Services:

    • Approve advertising & marketing material in order to ensure adequacy of disclosures and compliance with marketing and advertising requirements.
    • Prepare compliance training material/modules for business units/departments (on-line and face to face) (induction, customized & refresher training).
    • Provide guidance to business units/departments on the specific provisions of applicable existing legislation and standards, and of relevant new regulatory requirements.
    • Promote a compliance culture within the bank.

    Relationship Management:

    • Maintain stakeholder relationships with other co-assurance functions (e.g. Operational Risk, AML/CFT; and Internal Audit) and Subject Matter Experts/Compliance Specialists
    • Maintain sound relationships with business unit/department heads and staff, as well as Strategic Alliance Partners.
    • Maintain relationships with assigned regulatory bodies, respond to enquiries by regulators/supervisory bodies and assist with regulatory reviews and inspections by regulators

    Qualifications:

    • Degree (Audit; Legal: Risk Management).

    LLB Degree.

    • Registered Compliance Officer with the Financial Sector Conduct Authority.
    • Certified Anti-money Laundering Compliance Officer (ACAMS).
    • CPrac (SA) Designation from the Compliance Institute, Southern Africa

    Experience:

    • 3 years regulatory compliance experience in a financial services sector.
    • Exposure to GACP (Compliance risk management methodology and specifically to compliance monitoring and reporting)
    • 5 years regulatory compliance experience in a bank, specifically in Retail and Business Banking, Merchant Banking, Trade Finance, Asset Finance and Foreign [URL Removed] Skills and Abilities Required:
    • Ability to liaise professionally with senior management and staff at all levels; and in governance structures/committees (Effective communicator).
    • Generally Accepted Compliance Practice (GACP, 2018) and/or ISO 19600, specifically compliance risk profiling; risk rating methodology; risk mitigation & management (CRMP's); monitoring & reporting.
    • Ability to interpret legislation and draft legal opinions and other business documentation (Memoranda & reports).

    Project Management & Administration.

    • Confidentiality of information, data classification.
    • Accurate, attention to detail.
    • Problem solving (Analytical); root cause identification, interpreting quantitative and qualitative data, dataset comparisons.
    • Judgement (Decision making).
    • Computer Literate, including Microsoft Office, Outlook, Word, PowerPoint, and Excel.
    • Ability to work across systems and processes, multi-tasking.
    • Ability to work/perform under stress, tenacity, conflict situation management.
    • Structured, systematic, organised and self-disciplined.
    • Self- motivated, self-starter and independent.
    • Positive attitude to work and colleagues.
    • Team player, influencer.
    • Presentations/public speaking(training).

    WORKING CONDITIONS:
    Office Bound & On-Site

    Desired Skills:

    • Compliance
    • Banking
    • Data Analysis
    • Data Reporting
    • Risk Profiling
    • Record Keeping
    • Financial Services
    • FAIS
    • Financial Crime
    • Data Privacy
    • Tax administration act

    Desired Work Experience:

    • 5 to 10 years Banking

    Desired Qualification Level:

    • Degree

    Method of Application

    Interested and qualified? Go to Bidvest Bank on www.careerjunction.co.za to apply

    Note: Never pay for any training, certificate, assessment, or testing to the recruiter.

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