Risk and Compliance at Stonehage Fleming

OVERALL PURPOSE

• To assist Stonehage Fleming and employees in complying with applicable legislative and regulatory requirements by identifying, assessing, managing, monitoring and reporting on compliance risks facing the organisation.
• To assist the Risk & Compliance team in maintaining and executing the compliance monitoring programme, on a risk weighted basis. 
• To assist the Head of Risk and Compliance, South Africa, in any risk and compliance matters as deemed necessary.

Key Responsibilities    
PRINCIPAL ELEMENTS & ACCOUNTABILITIES

• To act as the FAIS compliance officer for various local and foreign FSPs.
• Apply for, and maintain, FSP licenses:
• Responsible for the appointment and/or removal of FSP products, key individuals and representatives;
• Responsible for keeping FSP profile information up to date;
• Review the adequacy of the supervision template and draft Supervision Agreements between supervisor and supervisee;
• Maintain supervision register and ensure supervision is being tracked appropriately; 
• Assist with the application of new FSP licenses or lapsing of existing FSP licenses (where applicable); and
• Prepare reports and regulatory submissions to regulatory authorities.
• Fit & Proper Requirements (including Competence Registers & CPD):
• Ensure that key individuals and representatives comply with fit and proper requirements including (where applicable) competence relating to RE5 exams, product specific training, Class of Business Training and CPD;
• Maintain approval as an accredited CPD provider in order to assist representatives in obtaining the minimum of 18hours in a CPD cycle;
• Draft and roll out CPD know how articles to assist with CPD requirements;  
• Implement CPD plan template to ensure that key individuals and representatives remain fit and proper in terms of their competence requirements; and
• Maintain the Competence registers.

Maintain Risk & Compliance Policies & Procedures:

• Horizon scanning and responding to regulatory consultations;
• Remain up to date on new regulations affecting the organisation, perform impact assessments and update policies and procedures accordingly; and
• Ensure employees are educated on the latest regulations and policies.
• Combined Risk Assessment (CRA):
• Assist with the review of the regulatory universe, assessment and prioritisation of regulatory risk;
• Meet with relevant individuals within company to identify, measure and formally document the risks and controls in the CRA; and
• Assist with the continual review of and update to the existing CRA with any changes to business process or with regards to any new legislation.
• FICA:
• Act as Deputy MLRO for various Accountable Institutions;
• New Business Acceptance Committee (NBAC): Review and summarise sign-off NBAC opportunities; and
• Assist with the review and sign-off of periodic AML risk reviews.

Risk and Compliance:

• Create metrics to help track compliance and pull management information in order to provide succinct compliance reports;
• Assist with the preparation of compliance reports to management, various committees and governance structures within the Group; and
• Attend and present at various committee meetings when the Head of R&C is unable to attend

Other:

• Support the business and provide compliance and regulatory advice;
• Assist with customer complaints;
• Assist with Breach management and complaints: investigation, internal and external reporting and administration;
• Review financial promotions/advertisements;
• Perform any ad hoc duties that may be required from time to time to assist the Risk and Compliance department in meeting its regulatory obligations.

QUALIFICATIONS

• FAIS approved Compliance Officer for Category I and Category II Financial Services Providers.
• Regulatory Examinations (RE1, RE3). 
• RE5 an advantage.
• Preferable: recent AML qualification. 

EXPERIENCE

• Required: At least 5 years compliance/risk/legal work experience in the Financial Services sector.
• Preferred: investment related (Category II FSP) and fiduciary/trust experience (Category I FSP).
• Good working knowledge of FAIS, CISCA, FICA, POPIA and a solid knowledge of the South African Regulatory Environment in the Financial Services sector.

COMPETENCIES AND SKILLS

• Commercial focus, understand the nature of the various group businesses and to determine what needs to be done to comply with applicable legislation and regulation.
• Excellent interpersonal skills with the ability to liaise and collaborate with individuals at all levels, being helpful and co-operative whilst working towards team goals.
• Solution orientated, dedicated and someone who takes ownership of tasks and responsibilities.
• Flexible and able to multi-task, setting appropriate priorities and adhering to deadlines.
• Proven project management skills relating to risk and compliance initiatives. 
• Proven experience of working in a challenging and fast-moving environment, across multiple jurisdictions and with complex products.
• Self-motivated and able to use initiative with a strong hands-on approach.
• Experience managing FAIS/FICA related queries and engaging with the business.
• Ability to motivate others and foster potential.
• Ability to think strategically, critically and long term.
• Strong understanding of Excel, Work and PowerPoint, with an ability to quickly learn/understand other in-house systems.