Risk and Compliance Specialist - Parktown at Rand Mutual - RMA

The Job at a Glance

Reporting to the COID Risk and Compliance Manager, the COID Risk and Compliance Specialist will be responsible for ensuring that all regulatory compliance that is applicable to the COID business, are implemented and enforced and are in line with the controls established by the Risk and Compliance department in RMA. The incumbent will also be responsible for performing periodic compliance monitoring reviews, to identify areas of non-compliance and improvement and aid the business unit in executing its responsibility to comply with all regulatory codes and legislative requirements. Furthermore, the Risk and Compliance Specialist will also be responsible for working closely with the Risk and Compliance Manager and Group Risk and Compliance to assist with the implementation and operationalization of risk and compliance management frameworks within the COID business.

WHAT WILL YOU DO?

• Performing Periodic Compliance Monitoring Reviews
• Interact periodically with stakeholders in each BU gathering information in preparation for monitoring activities.
• Conduct controls assessment in advance of monitoring, where required, using defined methodology.
• Identify Areas of Non-Compliance and Improvement
• Provide the business with their compliance report highlighting areas of non-conformance.
• Agree deadlines/responsibilities and required improvement.
• Ensuring Compliance with All Regulatory Codes and Legislative Requirements
• Monitor the efficiency and consistency of compliance controls.
• Monitor regulatory updates and assist in conducting gap analysis where there are changes.
• Provide inputs on implementation/ operationalisation of regulatory changes.
• Consolidate reports to reflect compliance for the COID business.
• Consolidate tracking documents and progress reports.
• Consolidate defined Regulatory reports for sign off prior to submission to the relevant internal/ external stakeholders.
• Monitor completion of mandatory Compliance training, conducting escalations and reporting on progress.
• Administration of the Risk Function within the COID Business
• Assist with the implementation of all aspects of the risk function within the COID business, including implementation of risk management framework and processes, utilization of tools and systems to identify, assess, measure, manage, monitor and report risk.
• Assist in the development and management of processes to identify and evaluate business areas' risks and risk and control self-assessments within the COID business.
• Consolidate tracking documents and progress reports.
• Assist in the co-ordination of Risk and Compliance activities (first line of defence) and collaboration through appropriate forums.
• Communicate and facilitate the use of appropriate risk management methodologies, tools, and techniques across the COID business.
• Highlight areas of constraints, areas of improvement and report recommendation to management.
• Co-ordinate with business for escalation and reporting of risks and Loss Data Collection (LDC).
• Develop and ensure maintenance of risk register for the COID business.

Regular and Ad Hoc Reporting

• Use appropriate templates and channels to engage stakeholders and report progress on a weekly and monthly basis or as required.
• Consolidate defined Regulatory reports for sign off prior to submission to the relevant internal/ external stakeholders.

WHAT YOU'LL BRING TO THE TABLE?

• NQF Level 7: Bachelor’s Degree in Law or Compliance Qualification
• RE1 and RE 5 qualifications required
• Eligible to be registered with FSCA
• At least 3 - 5 years’ experience in financial services sector within legal/ risk/ compliance environment
• Strong working knowledge of regulatory universe within the Financial Services Industry
• Good working knowledge of GACP (added advantage)