Compliance Specialist at IDC

Qualification and Experience

Qualifications

• A bachelor’s degree in business related discipline; LLB, B Com Law, BA Law, Risk Management
• Post-graduate Compliance Qualification is mandatory
• CPRAC Qualification from CISA will have an added advantage

Knowledge and Experience

• Minimum of 5 to 8 years relevant and practical compliance monitoring or regulatory compliance risk management experience
• Member of the Compliance Institute of Southern Africa

Roles and Responsibilities

• Develop a risk based annual compliance monitoring plan to ensure coverage of key compliance risks across IDC and subsidiaries for board approval. Work with the Compliance Manager to regularly assess the relevance and focus of the Compliance Monitoring Plan
• Execute the board approved compliance monitoring plan and ensure that monitoring reviews are strategic and structural to deliver the required level of assurance within the agreed timelines as per the compliance monitoring schedule.
• Implement the CRAD’s annual compliance monitoring plan by performing complex monitoring reviews, producing quality compliance monitoring results and providing compliance advice and guidance to business to achieve regulatory compliance outcomes.

Develop and implement the Compliance Risk Management Plans (CRMPs) and perform compliance monitoring reviews by doing the following:

• identifying and risk rating of the applicable provisions identifying, analysing and testing controls;
• Undertaking thorough process, system and business walkthroughs and applying best practice sampling mechanisms to form a reasonable assurance view identifying potential areas or compliance vulnerability and risk;  properly prepare and record working papers; and present the monitoring outcomes to business stakeholders;
• To provide assurance to the board and relevant sub-committees on the adequacy and effectiveness of controls and systems developed by business, including adherence to regulatory requirements.
• Deliver high quality compliance monitoring reports regarding compliance risks that have been identified through compliance monitoring reviews and provide recommendations on sustainable remedial plans.
• Provide timely communication on the results of compliance monitoring reviews to SBUs/Departments, and management as and when the identified gaps are confirmed, present and submit these monitoring reports to relevant stakeholders in line with the requirements of the CRAD monitoring process and plan.
• Develop and monitor the issue log/tracker to ensure the information is accurate, valid and supported by factual evidence and manage record-keeping of all review documentation in the relevant SharePoint folders. Take ownership for reporting issues raised during reviews to ensure effective resolution of issues within agreed timeframes.
• Provide independent compliance advisory services through the development of recommendations for improvements to controls and processes, which will ensure adherence to legislative requirements and mitigation of regulatory risks.
• Continuously develop and improve the monitoring methodology and overall approach to conducting monitoring reviews and stay abreast of relevant trends and typologies to utilize this information to inform the IDC Compliance Monitoring Framework.
• Pro-actively engage with stakeholders at all levels and build collaborative, effective relationships across the business and other assurance providers to contribute effectively to the execution of reviews and enhance knowledge and understanding of the IDC business operations.
• Drive continuous improvement across the business by ensuring that statutory and legislative knowledge is always current, and stakeholders are engaged effectively to facilitate the establishment of a compliance culture that contributes to prudent risk management.
• Keep abreast with IDC internal business context, standards, and goals.
• Contribute to the drafting and revision of company policies