Compliance Manager at Watershed Consulting

Our client is a leading international bank with over 50 years of consistent growth, spanning 130 countries globally is looking to fill a position of Compliance Manager reporting to the Head of Compliance. In South Africa, they operate several branches nationally with their Head Office positioned at the Umhlanga Arch, Durban, KZN. 

• 5-7 years’ experience in a compliance/regulatory position in a banking environment
• LLB qualification/or similar and other compliance related courses/qualifications
• In-depth knowledge of FIC Act, POPI, FAIS, GDPR, EXCON Regulations and other applicable legislation impacting Banks.

The role requires the following responsibilities: 

• Guide and advise Business and management on Compliance requirements (POPI, FAIS, TCF, FIC Act, FATCA, CRS, EXCON Regs).
• Updating of Policy & Procedure Manuals due to regulatory and operational changes in terms of key legislation affecting the Bank.
• Assist in ensuring the Bank is compliant with the FAIS Act, TCF, Codes of Conduct, Fit and Proper requirements, Conduct standards.
• Conduct compliance training as per the compliance training plan. Update training manuals in line with regulatory changes and policy requirements.
• Conduct compliance monitoring and testing, including providing recommendations and actions plans
• Develop and update Compliance Risk Management Plans.
• Assist in submitting all reporting to the SARS for FATCA and CRS including implementation on new reporting requirements.
• Assist in managing and overseeing the re-kyc and Enhanced Due Diligence (EDD) processes of customers
• Assist in compiling an annual Compliance Activity Plan for approval by the BoD.
• Assist in reviewing the Legislative Risk Matrix on an annual basis and submit to the BoD.
• Assist in preparing and submitting all required reports to Group and Audit Committee on a quarterly basis.
• Regularly review the Compliance Monitor’s functioning, quality of commentary and timeliness of clearing.
• Assist in providing guidance on new product & delivery channel development.