Principal Legal Counsel: Everyday Banking at Absa Group Limited (Absa)

Job Summary

To develop a functional legal operating model and framework in a broadly defined business functional strategy; enabling horizontal alignment, implementation and adoption.
Job Description

Job Description:

• We have a vacancy for a seasoned Principal Legal Counsel at Head/ Director Level with an exceptional track record of success, to join our Everyday Banking Legal Team. The incumbent will be responsible for all aspects of regulatory including policy, strategic initiatives and change for Absa group wide. Engage Executives on matters pertaining to the business, regulators and report to the General Counsel on all aspects of legal and regulatory risk. The ideal candidate will have 8-10 years PQE, banking and financial regulatory experience.

Other responsibilities include, but not limited to:

• Take responsibility for management of regulatory risks, including identifying risk areas and working with stakeholders to remediate.
• Own the Regulatory Risk Framework of Everyday Banking and ultimately, for the Group and ensure it is properly embedded and accurately interpreted to reflect regulatory requirements and ethical standards so that well-informed, ethical and responsible decisions can be reached
• Develop, motivate and manage people. Recognise performance, provide appropriate interventions and opportunities, and address poor performance.
• Set clear objectives and responsibilities for each individual
• Proactively absorb new regulatory developments to create digestible and precise analysis
• Monitor, control and reduce Regulatory Relations’ internal and external spend while remaining within the Group’s Risk appetite as determined by the board
• Lead a highly motivated Regulatory function which takes accountability for the regulatory and reputational risks falling within this function.

Accountability: Leadership & Management

• Formulate, articulate and manage strategy and delivery to objectives; effectively manages team resources, practices and costs as well as complex projects or matters
• Fosters a diverse and inclusive environment through recruitment, development and retention

Accountability: Commercial

• Leverage strong relationships with external peer group (including law firms) effectively
• Deep understanding of commercial drivers and external environment in own coverage areas

Accountability: Risk and Control

• Work across teams and business units to assist in Group-wide risk management and, manage the development and implementation of policy and procedure with limited direction
• Act as a principal legal advisor to relevant Executive committees by providing legal advice and counsel; and report to the General Counsel on all aspects of Legal Risk Management in the cluster business unit.

Accountability: Teamwork 

• Break down silos, encouraging team cohesion and collaboration across and display strong communication, influencing and negotiation skills

Accountability: Technical

• Participates in industry associations and acts as trusted advisor to heads of business / infrastructure teams, industry bodies and relevant internal committees.
• To provide legal solutions for commercial problems while demonstrating sound judgement and decision-making skills.

Education and Experience

• B Comm Law and LLB; or B A Law and LLB; or B Juris and LLB; or BProc and LLB
• Knowledge of banking business and products
• Understanding of regulatory laws
• Familiarity of high-profile financial sector regulatory reform.

Education

• Postgraduate Degrees and Professional Qualifications: Law (Required)