Head of Compliance - RCRM at FirstRand Group

This position exists within the Regulatory and Conduct Risk Management function (RCRM) and is responsible for:

• Functional leadership across the group on regulatory and conduct risk management aspects including the group’s compliance strategy, group wide policies, frameworks and monitoring;
• Being the primary point of contact with the FirstRand board and chair of the risk and audit committees as well as the PA, FSCA and other regulators on the compliance status of FirstRand on regulatory and conduct risk matters;
• Working actively with the Client Desirability Risk Management (CDRM) function to ensure the group discharge its responsibilities on Anti Money Laundering (AML) and similar legislation. Act as the primary point of contact with the FIC and similar regulatory bodies;
• Working closely with the FirstRand central functions (ERM, GIA) as well as the group CRO, segment CRO’s, Rest of Africa in Country CRO, Compliance teams and segment RCRM teams to provide independent oversight of the regulatory and conduct risk profile, compliance with group policies and maturity of compliance programmes across the Group and to align practices and tools where practical for greater efficiency, enhanced reporting and risk insights.

The incumbent will be expected to operate on a strategic level and will be expected to engage both a board level as well as with business executives on the assessment, evaluation monitoring and testing of compliance with regulatory requirements within a risk-based approach. 

Role Purpose:

To develop, implement (in partnership with the business segment teams) and monitor a compliance strategy for RCRM across multiple geographies by ensuring appropriate control frameworks are in place and strengthening the compliance function's ability to partner with the business and other assurance providers such as central and deployed risk functions and group internal audit to raise the profile of compliance, identify and manage key compliance risks and facilitate the achievement of compliance objectives.

Qualifications and experience:

Minimum Qualifications:

• Post Graduate degree in Legal, Risk or Compliance  

Preferred Qualifications:

• Professional qualification – Honours level
• Experience and expertise (in line with the FSR Act) to assume the role of a key person in a financial institution of the nature, size and complexity of FirstRand.

Minimum Experience:

• 16+ years of compliance, legal, risk experience in a large organisation
• Comprehensive understanding of all facets of Regulatory and Conduct Risk Management, including; Financial Crime, Market Conduct, Data Privacy and Protection, Regulatory Risk Practice, Assessment and Monitoring, Prudential Regulatory Compliance, Public Policy and General Compliance
• Must have experience leading and managing large, cross-functional teams

Critical competencies:

• Risk sensitivity, strategic insight and ability to 'see the woods for the trees'/see the bigger picture/ability to connect the dots
• Independence of thought and courage
• Intellectual and emotional maturity to navigate complex and sensitive matters with regulators, balance competing interests and navigate grey areas
• Credibility: Professional and personal integrity, demonstrating values of openness and transparency
• Ability to lead, influence and build capabilities for collaboration with multiple stakeholders (business, regulators, functional team, board and peers)
• Embracing innovation: Use technology to further the ambitions of the Compliance function

Additional Requirements:

• In accordance with National Credit Act (NCA) candidates applying for this role will require a credit record check
• Candidates applying must not be a unrehabilitated insolvent