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Nedbank Group Limited is a bank holding company that operates as one of the four largest banking groups in South Africa. The company's shares have been listed on the JSE Limited since 1969. The group offers a wide range of wholesale and retail banking services through four main business clusters, namely Nedbank Corporate and Investment Banking, Nedbank Retai...
Job Purpose
The successful candidate will be required to provide advice, guidance, oversight and assurance on the adherence to compliance practices in client facing divisions (1st line) to ensure compliance risks are identified, assessed, managed and reported on for Nedbank. Be a trusted advisor to 1st line but maintain independence of mind as part of 2nd line.
Job Responsibilities
Operational responsibilities
Build and maintain relationships with internal stakeholders (i.e. the division’s 1st line as well as 2nd line divisional functions such as risk, AML and legal and 3rd line being audit) by establishing effective partnerships to identify and manage compliance risks
Develop and maintain a clear understanding of the scope and nature of the business conducted by 1st line (busines acumen)
As part of 2nd line, engage with 1st line towards clarifying roles and responsibilities in the management of compliance risk i.e. risk identification, categorization, assessment, management (completing and maintaining Compliance Risk Management Plans - CRMPs) and monitoring
Adopt and adhere to a risk-based approach in the management of compliance risk
Develop a solid understanding of all high-risk legislation that applies to the division
Keep abreast of all regulatory developments/changes that may potentially impact the division and engaging relevant stakeholders on a timely basis to ensure business readiness and ongoing compliance risk management
People Specification
Contribute to the creation of a compliance culture and compliance awareness in the division by becoming a trusted advisor to 1st line (whilst maintaining independence of mind as part of 2nd line)
Execute on the agreed annual Compliance Coverage Plan for the division within set timelines
Ensure compliance risks are managed by developing/updating the Compliance Risk Management Plans (CRMPs) on an annual basis across client facing business (1st line)
Provide advice and guidance to 1st line on compliance risks, controls, and possible contraventions, through formal and ad hoc monitoring and early detection
Provide assurance to 1st line on whether compliance requirements are met, and adequate compliance risk management practices have been implemented
Ensure accurate and timely reporting on any non-compliance, the management of compliance risks, and the state of compliance in the division (1st line)
Provide assurance to stakeholders on the state of compliance by reporting on how key risks are being managed, highlighting areas that require immediate attention and recommend corrective action to stakeholders
Take an active part in all relevant governance and other committees
Have a monthly one-on-one engagement with each of your key stakeholders in 1st and 2nd line (e.g. business, risk team, legal team, AML)
Perform any other tasks relevant to the role of a compliance officer as directed by management
Relevant regulatory knowledge - e.g. FAIS, POPI, NCA, COFI, FICA (AML)
Relevant software and systems knowledge - MS Office suite, LawExplorer, TeamMate
Essential Qualifications - NQF Level
Advanced Diplomas/National 1st Degrees
Preferred Qualification
Legal Degree
Post Graduate Diploma: Compliance Management
Essential Certifications
Preferred Certifications
Compliance Institute of South Africa (CISA) - preferred, not essential
Type of Exposure
Analysing situations or data that require an in depth evaluation of multiple factors
Drafting reports
Influencing stakeholders to obtain buy-in for concepts and ideas
Comparing two or more sets of information Working with a group to identify alternative solutions to a problem
Consolidating data from various sources and identify/interpret trends
Identifying and interpreting regulatory risk trends
Managing stakeholder expectations
Monitoring adherence and compliance
Working across all risk categories
Presenting to senior leaders
Minimum Experience Level
Occupational Certificate: Compliance Officer (advantageous)
Certificate in Compliance Management (advantageous)
CPrac (SA) - Compliance Practitioner designation from CISA (Advantageous)
3-5 years’ experience in risk management in a compliance-related role
Technical / Professional Knowledge
Change management
Cluster specific operations
Compliance reporting
Governance, Risk and Controls
Relevant regulatory knowledge
Relevant software and systems knowledge
Reputational risk management
Risk management process and frameworks
Stakeholder management
Codes of Good Governance
Behavioural Competencies
Decision Making
Influencing
Building Trusting Relationships
Managing Work
Quality Orientation
Stress Tolerance
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