Compliance Manager at Shoprite Group of Companies

What you'll do

Compliance Governance and Framework

•  Develop and maintain the Money Transfers Compliance Plan.
•  Maintain the Regulatory Universe and Compliance Risk Register.
•  Develop and maintain compliance policies, standards and standard operating procedures.
•  Ensure compliance frameworks remain aligned with regulatory, contractual and business changes.
•  Coordinate annual reviews of the RMCP, Business Risk Assessment and Compliance Plan.
•  Provide compliance input into new products, distribution channels, systems and partnerships.

AML, CFT and Financial-Crime Compliance

•  Oversee Customer Due Diligence and Enhanced Due Diligence controls.
•  Oversee sanctions, politically exposed person and other required screening controls.
•  Oversee transaction-monitoring governance, alert management and investigation standards.
•  Ensure effective suspicious and unusual transaction escalation processes.
•  Monitor money-laundering, terrorist-financing and proliferation-financing risks.
•  Oversee regulatory reporting controls and evidence-retention requirements.
•  Identify emerging typologies and financial-crime risks relevant to money transfers.

 Regulatory and Partner Governance

• Maintain constructive relationships with regulators, sponsor banks and other regulated partners.
• Coordinate accurate and timely regulatory submissions, information requests and responses.
• Ensure compliance with partner-bank contractual and control obligations.
• Coordinate inspections, audits, attestations and regulatory reviews.
• Maintain evidence that regulatory and contractual compliance obligations have been fulfilled.

Monitoring, Assurance and Remediation

•  Develop and execute a risk-based compliance monitoring programme.
•  Perform thematic reviews and control testing across customer, transaction, store and agent processes.
•  Monitor compliance with FICA, AML/CFT, sanctions, Exchange Control and record-keeping requirements.
•  Track internal audit, external audit, partner-bank and regulatory findings.
•  Maintain breach, issue, action and remediation registers.
•  Escalate material control failures, overdue actions and regulatory breaches.

Risk Management and Reporting

•  Produce clear monthly compliance dashboards and management information.
•  Report compliance risks, incidents, trends and control effectiveness to relevant governance forums.
•  Develop, maintain and monitor key risk and performance indicators.
•  Analyse compliance trends, root causes and emerging regulatory risks.
•  Provide decision-useful recommendations to business leadership.

Policy, SOP and Training Oversight

•  Maintain compliance policies, procedures and supporting control documentation.
•  Ensure regulatory and contractual requirements are embedded into operational procedures and customer journeys.
•  Oversee mandatory AML/CFT and compliance training programmes.
•  Support competency assessments, refresher training and awareness campaigns.
•  Drive a strong compliance culture across central office, stores, agents and support teams.

 Data Governance and Regulatory Record Keeping

•  Ensure regulatory record-retention requirements are met.
•  Oversee appropriate governance of customer and transaction data used for compliance monitoring.
•  Support compliance with POPIA and internal data-governance requirements.
•  Enable reliable compliance analytics, monitoring and regulatory reporting.
•  Drive continuous improvement in compliance data quality, completeness and accessibility.

People Leadership

•  Lead, coach and develop the compliance team, setting clear priorities, performance expectations and accountability.
•  Build team capability through ongoing guidance, knowledge sharing and development planning.
•  Promote a collaborative, high-performance culture that supports ethical conduct and effective compliance delivery.

Essential Qualifications

•  Bachelor’s degree in Law, Commerce, Risk Management, Auditing, Compliance Management or a related discipline

 Knowledge Requirements

•  Financial Intelligence Centre Act and associated AML/CFT/CPF requirements.
•  Financial Intelligence Centre guidance and reporting requirements.
•  Exchange Control Regulations and the SARB ADLA framework.
•  National Payment System requirements relevant to money transfers and payments.
•  Protection of Personal Information Act.
•  Compliance monitoring, risk assessment and control-testing methodologies.
•  Governance, issue management, record keeping and regulatory reporting.
•  Retail financial services, remittances, digital payments and partner-bank operating models

Preferred Qualifications

•  Postgraduate qualification in Compliance, Risk or Financial Crime.
•  Relevant professional certification, such as CPrac (SA), ACAMS or an ICA qualification in AML or Compliance.

Essential Experience

•  At least 7 years’ compliance experience, including a minimum of 3 years in financial services, banking, payments, remittances or another regulated financial services environment.
•  Practical experience in AML/CFT compliance, regulatory reporting, compliance monitoring, audits and remediation management.
•  Experience engaging regulators, auditors, sponsor banks and senior business stakeholders.
•  Experience managing compliance teams or specialist resources.

Preferred Experience

•  SARB, FIC, banking, remittance or payments experience.
•  Exchange Control and cross-border remittance experience.
•  Experience with transaction-monitoring, sanctions-screening and compliance-reporting systems.