Compliance Officer at Nedbank

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

• Post Graduate Diploma in Compliance Management
• Legal Degree
• Occupational Certificate: Compliance Officer
• Certificate in Compliance Management
• CPrac (SA) - Compliance Practitioner designation from CISA

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

• 3-5 years’ experience in risk management in a compliance-related role in an environment specializing in Financial Planning, wills, trusts and estates

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