Compliance Officer at Prescient

Purpose of role:

• Reporting to the Chief Financial, Risk and Compliance Officer, this regulatory Compliance role has the responsibility to cover a number of compliance requirements including FAIS, FICA, AML, JSE and A2X. The role also involves assisting the Board in ensuring adherence to internal policies and procedures while maintaining a strong compliance culture within the business. It is essential that you have a strong understanding of Stockbroking Operations and a working knowledge of FAIS, FICA and AML/CFT requirements.

Duties and responsibilities:

Regulatory Compliance, AML & Monitoring

• Conduct real-time monitoring of trading activity across all asset classes to ensure compliance, detect irregularities, and manage risks.
• Monitoring of daily CAPAD trading Limits and Monthly submission to JSE and A2X.
• AML – Conduct ongoing compliance and AML reviews in line with regulatory requirements and the company’s compliance program.
• Oversee access controls for trading and back-office systems to ensure compliance.
• Perform daily compliance checks to identify misdeals, outstanding allocations, incorrect journal entries, and faulty payments, escalating exceptions as required.
• Analyse root causes of compliance breaches and recommend corrective actions.
• Prepare and submit all FAIS regulatory reports within the required timelines.
• Ensure reporting obligations, both internal and regulatory reporting requirements, are conducted within required timelines.
• Take responsibility for the management and coordination of the regulatory and compliance training register, ensuring all regulatory training requirements are effectively tracked, reported and adhered to.

Stakeholder Engagement & Risk Management

• Provide guidance and support to internal business units on FAIS, FICA, and other relevant regulations.
• Report on compliance matters, business risks, and regulatory updates to the Board and Executive Committee.
• Build and maintain strong working relationships with Regulators and other key governance stakeholders.
• Assist in the development and implementation of risk-mitigation strategies to ensure adherence to financial laws and best practices.
• Coordinate regulatory engagements, including site visits.
• Escalate issues of non-compliance and manage all incident reporting to the Board and Exco.
• Ad hoc assistance and support to the Board as required.
• Take responsibility for managing counterparty due diligence processes, including responding to requests, coordinating internal stakeholders, and ensuring information provided aligns with regulatory and internal standards.
• Represent PSec at Compliance Committees as required.

Policy & Process Management

• Ensure company policies and procedures remain up to date and aligned with regulatory requirements.
• Review client and supplier accounts to ensure FICA compliance.
• Participate in regulatory audits and liaise with regulators as needed.
• Maintain and enhance business processes to strengthen compliance frameworks.
• Contribute to process improvements and development of data-driven reporting.
• Participate in Business Continuity Planning (BCP) testing as required.

Regulatory Awareness & Training

• Stay abreast of changes in legislation and assess their impact on business operations.
• Provide insights on upcoming regulatory changes and recommend effective implementation strategies.
• Conduct internal compliance training to foster a strong compliance culture within the organization.
• Ensure employees adhere to FAIS Fit & Proper requirements.

Required experience:

• 8 - 10 years’ experience in a similar role in stockbroking or financial services where you have had exposure to the full compliance function.
• Strong knowledge of FAIS, FICA, POCA, and other relevant financial regulations.
• Strong expertise in stockbroking operations, including local and international settlements.
• Experience in monitoring FAIS compliance, including Fit & Proper requirements.
• Proficiency in MS Office (Excel essential).
• In-depth knowledge of FICA and KYC documentation requirements for both domestic and international entities.

Required Qualifications:

• BCom, B.Compt, BSc, LLB, FRM, or an equivalent qualification is essential.
• Preference for completion of or registered to complete the following SAIFM Exams:
• JSE Equity Compliance Officer exam
• JSE Derivatives Compliance Officer exam
• SAIFM Introduction to financial markets RPE
• SAIFM Regulation and Ethics RPE
• SAIFM Bond Market RPE
• SAIFM Derivative Market RPE
• BCom, BCompt / equivalent is advantageous

Key competencies:

• Analytical – Collects, research, and processes data and information intuitively; develops effective processes.
• Problem Solving, Proactive and curious – Identifies and resolves problems in a timely manner; provides solutions.
• Balance attention to detail with broader risk awareness.
• Strong Verbal and Written Communication.
• Positive Team Player – with strong communication and stakeholder engagement skills.
• Balances team and individual responsibilities; values feedback; builds team spirit.
• Deadline Driven – Meets deadlines; works well under pressure.
• Quality Management – Promotes and demonstrates quality and accuracy; applies feedback to improve performance.