Purpose of the Job
- To provide specialised compliance expertise that directly supports the Head of Compliance in managing the Postbank’s Regulatory Universe, compliance monitoring programme, policy framework, regulatory advisory, AML/CFT obligations, and regulatory engagement.
- The role requires a highly experienced compliance practitioner with proven capability in banking regulatory frameworks, compliance monitoring execution, drafting and maintaining manuals/policies, conducting training, and advising business on regulatory impact.
- This is a technical compliance role — not administrative — requiring deep regulatory knowledge and practical implementation experience.
Job Responsibilities
Regulatory Universe & Legislative Analysis
- Maintain and continuously update the Bank’s Regulatory Universe, ensuring full coverage of all applicable legislation, regulations, directives, circulars, standards, notices, guidelines, and supervisory expectations.
- Conduct regulatory impact assessments for new and amended legislation (e.g., PFMA, Banks Act, FICA, FAIS, PoPIA, PAIA, NPSA, Conduct Standard for Banks 3 of 2020, SARB directives).
- Translate legislative obligations into actionable compliance requirements, controls, and obligations for the business.
- Develop compliance interpretations, guidance notes, and briefings for the business and executives.
- Monitor global and local regulatory trends (FATF, Basel, FSCA, SARB PA, FIC) and identify emerging compliance risks for the Bank.
Compliance Monitoring, Testing & Assurance
- Develop, implement, and maintain the annual compliance monitoring plan aligned to the regulatory universe and key risk areas.
- Conduct compliance monitoring fieldwork, including walkthroughs, control testing, sampling, and reviewing evidence.
- Prepare detailed monitoring reports with findings, root-cause analysis, corrective actions, timelines, and responsible stakeholders.
- Follow up on remediation and action plans, ensuring closure and escalation where required.
- Perform thematic reviews on high-risk areas such as AML/CFT, KYC, data privacy, FAIS, money transfers, payments, and card operations.
- Identify gaps in current controls and recommend enhancements for better compliance and risk mitigation.
Policy, Framework & Procedure Management
- Draft, review, update, and maintain all compliance-related policies, frameworks, standards, SOPs, manuals, and guidelines.
- Align the Bank’s policies with legislation, industry best practice, and supervisory requirements (FIC, FSCA, SARB PA, Info Regulator).
- Drive the annual policy governance cycle, including reviews, approvals, training, communication, and version control.
- Ensure consistent implementation and embedding of policies across all business units.
AML/CFT/CPF Programme Support
- Support the implementation and ongoing enhancement of the Bank’s AML/CFT/CPF Framework.
- Conduct AML/CFT risk assessments, including ML/TF/PF risk ratings, product risks, customer risks, and channel risks.
- Support KYC/CDD/EDD implementation across all customer touchpoints.
- Review AML/CFT controls relating to sanctions screening, transaction monitoring, name screening, and adverse media.
- Assist in managing the STR/SAR process, ensuring alignment with FICA obligations.
- Support internal AML audits, FIC inspections, remediation actions, and staff training.
- Provide AML/CFT advisory across business units, ensuring decisions align with FICA, POCDATARA, POCA, FATF standards, and the Bank’s RMCP.
Compliance Advisory & Business Partnering
- Provide specialist regulatory advice to business units on processes, products, projects, systems, and customer interactions.
- Review business processes and new initiatives to ensure alignment with regulatory requirements.
- Participate in project committees, product development forums, and operational working groups as the compliance subject matter expert.
- Advise business units on FICA exemptions, FAIS interpretations, PoPIA obligations, PAIA requirements, reporting duties, and control implementation.
Governance, Reporting & Committee Support
- Compile high-quality compliance reports for various governance structures
- Prepare compliance dashboards, incident summaries, regulatory heat maps, and emerging risk trends.
- Maintain complete compliance evidence packs for internal audit, external audit, and supervisory reviews.
- Maintain a central compliance repository for regulatory documents, reports, policies, and monitoring evidence.
Regulatory Engagement, Inspections & Supervisory Support
- Support the Head of Compliance in preparing for, coordinating, and responding to supervisory engagements with:
- South African Reserve Bank (Prudential Authority)
- Financial Intelligence Centre
- Financial Sector Conduct Authority
- Information Regulator
- Payments Association of South Africa
- Coordinate all regulatory examination requirements, including information requests, evidence packs, submissions, and timelines.
- Assist in drafting responses to FIC inspections, SARB PA directives, FSCA requests, supervisory letters, audit queries, and remedial actions.
- Track compliance with regulatory actions and ensure effective closure.
Compliance Training & Awareness
- Develop annual compliance training plans for the Bank.
- Deliver targeted training programmes on:
- AML/CFT/CPF
- KYC/CDD/EDD
- PoPIA and data privacy
- FAIS requirements and conduct standards
- Banking regulatory frameworks
- Conduct post-training assessments and maintain training evidence for supervisory reviews.
Embedding Compliance Culture Across the Bank
- Serve as a compliance partner to business units by offering practical regulatory guidance.
- Promote ethical conduct, integrity, and accountability across all levels of the Bank.
- Support the implementation of the Bank’s compliance strategy and culture messaging.
- Ensure staff understand compliance obligations in daily operations.
Qualifications and Experience
- Relevant bachelor’s degree or equivalent (NQF Level 7) in Law, Commerce, or related field.
- Certificate in Compliance (advantageous).
- Professional AML/CFT certification such as CAMS or CISA (advantageous).
Minimum 5–7 years compliance experience specifically in a bank or regulated financial services entity, including:
- Running a compliance monitoring programme end-to-end.
- Developing and maintaining compliance frameworks, policies, manuals.
- Conducting in-depth compliance risk assessments.
- Leading AML/CFT initiatives within a regulated institution.
- Responding to regulatory inspections (SARB PA, FSCA, FIC).
- Delivering compliance training & advisory.
Experience must include:
- compliance monitoring
- AML/CFT work (KYC, screening, STR/SAR)
- policy/manual drafting
- regulatory universe work
- advisory & training
- regulatory engagement (SARB, FSCA, FIC
- Experience with compliance systems (screening/monitoring tools)
- Candidates with banking/regulated financial sector experience
Knowledge and understanding of:
- Expert knowledge of compliance risk frameworks and ability to conduct CRMPs.Applicable statutory and regulatory requirements, including but not limited to the Public Finance Management Act, Banks Act, Financial Intelligence Centre Act (FICA), Financial Advisory and Intermediary Services Act (FAIS), PoPIA, PAIA, NPS, etc.
- Regulatory change management and policy drafting skills.
- Experience engaging with regulators and managing inspections.
- Excellent written and verbal communication skills for reporting to executives and regulators.
- Strong analytical and investigative skills to interpret data and detect trends.
- Ability to train, influence, and support staff in compliance matters across the Bank.
- Familiarity with compliance tools and technology (e.g., screening/monitoring systems).
- Strategic mindset with the ability to align compliance with business objectives.
- Knowledge of key legislation: Banks Act, PFMA, FICA, FAIS, PoPIA, PAIA, NPSA.
- Experience preparing compliance reports and dealing with audits/inspections.
- Exposure to compliance or AML systems/tools.
Skills and Attributes
- High ethical standards and integrity.
- Strong attention to detail and organisational skills.
- Independent thinker with sound judgment under pressure.
- Resilient and able to manage competing priorities.
- Collaborative and solution-oriented approach.
- Discreet and trustworthy with confidential matters
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