Compliance Manager - Financial Services at Shoprite Group of Companies

Purpose of the Job    
Our company is searching for a motivated and experienced Compliance Manager to assist with compliance functions in Financial Services and more specifically at the Money Market Account (MMA). The Money Market Account is a mobile wallet account where you can deposit money, send money to other people, pay in store and make withdrawals. The ideal candidate will be professional, highly-analytical, and possess excellent written and verbal communication skills. To prosper in this role, you should be fluent in the industry’s standards and practices. Experience in and working knowledge of the following are essential: Financial and Intermediary Services Act 37 of 2002; Financial Intelligence Centre Act 38 of 2001 and AML regulations thereto; General Code of Conduct for Authorised Financial Services Providers and Representatives under the FAIS Act (‘the FAIS General Code of Conduct’); Conduct Standards for Banks; Protection of Personal Information Act 4 of 2013 (‘POPI’).

Job Objectives    

• Assist MMA in managing its Regulatory and Compliance risks and provide assurance, guidance and oversight to Senior Management. Development and implementation of Compliance Risk Management Plans (CRMPs) for core legislative and regulatory provisions.
• Research and communicate applicable legislative developments to all senior stakeholders.
• Engagement with the following regulators: Financial Sector Conduct Authority (FSCA); Financial Intelligence Centre (FIC); Engagement and working closely with the MMA sponsoring Bank.
• Provision of compliance knowledge and advice ensuring external legal and regulatory requirements are met.
• Alignment of internal compliance policies, processes and systems with legal and regulatory requirements.
• Report to internal stakeholders and external regulators.
• Oversee and ensure that MMA are compliant with Market Conduct Standards. Management of the Complaints register.
• Provision of input for committee reports such as the Audit and Risk Committee, Social and Ethics Committee.
• Management of Compliance risks on Financial Services Risk Register.
• Assist Internal Audit department in performing annual audit on MMA.
• Reporting to the FIC in terms of Section 29, 28A within the required period.
• Submit all section 27- and 32 requests to the FIC in the required time period.
• Duty to respond to section 34 Intervention Orders when received. Investigation of high risk transactions, assist with enhanced due diligence on customers.
• Supervise the duty of the recordkeeping requirements of all regulatory reporting requirements.
• Ensure that the Group Compliance Manager and the Money Laundering Reporting Officer are aware of any notices or changes published by FICA in terms of the legislative administrative requirements (PCC’s).

Qualifications    

• LLB/BCom degree. ACAMS, FAIS RE 5 certification or similar (essential).

Experience    

• 3-5 years compliance experience in the Banking and AML landscape (essential).

Knowledge and Skills    

• Solid knowledge and experience in the Anti-money laundering and Banking landscape.
• Drafting, implementing, reviewing of internal policies.
• Solid knowledge of the FAIS Act and Market Conduct Standards.
• Experience in investigating and the mitigation of high risk transactions and performing enhanced due diligence.
• Strong planning and organising skills.
• Ability to cope under pressure.
• Strong team player and ability to work within a team and independently.
• Strong communication and written skills.
• Problem solving ability.
• Knowledge of applicable laws and regulations as they relate to operations are critical.

Closing Date: 11th, March 2022