Latest Jobs at Al Baraka Bank South Africa

CORE PURPOSE OF THE JOB

•  To manage regulatory and reputational risk at the Bank.

 MAIN FUNCTIONS OF THE JOB

 Assists the Manager in the overall management of Regulatory Risk

• Ensure compliance with current laws, regulations, guidance notes and supervisory requirements or provisions
• Ensure that the Bank is not subjected to prosecution, levied with fines or its licence affected in any way
• Prepare a Compliance Functional Plan for the following year and obtain Audit Committee approval
• Report on progress with the Compliance Functional Plan for the year
• Prioritise legislation for analysing for the year
• Analyse the legislation pertaining to banking by preparing Risk Management Plans for each prioritized Act, Action Plans and ensure embedded in Departmental Manuals
• Inform management of legislative updates through legal alerts
• Monitor for non-compliance and maintain records of monitoring for audit purposes
• Prepare presentations for staff and regulators
• Submit returns to regulators such as for FAIS, FICA, etc.
• Prepare policies and procedures for relevant legislation
• Maintain and annually update the compliance manual

Assists in Monitoring

• Monitor compliance with legislation by conducting branch reviews
• Monitor legislative updates
• Advise Management and the Board of non-compliance with legislation
• Query non-compliance with staff and management and suggest corrective measures including disciplinary action where necessary
• Monitor submission of BA returns to the Registrar by other departments

Assists in the overall management of Reputational Risk

• Manage any negative publicity that could result in reputational risk to the bank or have other adverse consequences
• Monitor customer complaints and any threatened or actual events that could result in a reputational risk to the bank
• Inform management and directors of such events

Assists in the management of Money Laundering Risk

• Manages the activities of the AML Department
• Manages and mitigates Money Laundering and Terror Financing risk
• Advises senior management and the Board on application and implementation of AML, CFT and sanctions legislation, regulations and international best practice
• Develops and maintains the AML/CFT and Sanctions policies and procedures and recommends for approval on an annual basis - eg. RMCP
• Monitors development of, analyses and interprets the regulatory requirements in terms of the Financial Intelligence Centre Act (FICA) and associated Guidance Notes, Public Compliance Communications and Directives, the FATF 40 Recommendations and international best practice such as Wolfsburg Group, Basel Committee on Banking Supervision and Central Bank of Bahrain Directives
• Develops and maintains an appropriate risk-rating methodology by considering the relevant legislation, international best practice and industry application in the form of an AML/CFT Risk-Rating Policy
• Develops and maintains an appropriate risk-based approach (RBA) to Customer Due Diligence (CDD)/ Know Your Customer (KYC) obligations in terms of the FIC Act, industry standards and international best practice
• Provides oversight and guidance in performing and adhering to the Bank’s ODD obligations
• Develops and maintains the enhanced due diligence (EDD) requirements taking into account the high money laundering and terror financing (ML/TF) risk areas of the Bank
• Assesses the adequacy of applicable typologies and parameters selected for implementation in the SAS system
• Ensures that all regulatory reporting is conducted timeously, eg. CTRs, STRs.
• Ensures a comprehensive, efficient and effective sanctions and watchlist screening function by the implementation of an automated sanctions screening software to comply with local and international sanctions regulations, as well as financial crime risk mitigation measures
• Ensures annual training conducted to all staff on FIC Act obligations in line with their job functions
• Reviews branch compliance to AML/CTF matters by reviewing customer files and reports on findings to EXCO and Board
• Conducts regular reviews to ensure compliance with AML/CFT matters, eg. submission of reports, updating of watchlists, etc.

Assists with Training requirements

• Train staff and directors on legislation generally
• Provide intensive training to staff on important legislation e.g. Financial Intelligence Centre Act, the FAIS Act, etc.
• Conduct tests to ensure employees obtain the relevant level of expertise

General

• Preparing regular reports for EXCO and Board
• Assisting on Committees
• Conducting research and providing compliance opinions to Exco and Board
• Maintaining relationship with Group Compliance and submitting quarterly Compliance reports

Assists in performing Information Officer Duties

• Ensures Compliance by the Bank with the conditions for the lawful processing of personal information. 
• Develops and maintains the policy on the eight (8) conditions for the lawful processing of personal information.
• Deals with requests made to the Bank pursuant to POPIA
• Works with the Regulator in relation to investigations conducted pursuant to Chapter 6 of POPIA in relation to the Bank.
• Ensures compliance with the provisions of POPIA.
• Develops, implements, monitors, and maintains a compliance framework
• Develops, monitors, and maintains a manual as prescribed in sections 14 and 51 of PAIA, as amended
• Develops internal measures together with adequate systems to process requests for information or access thereto
• Conducts internal awareness sessions regarding the provisions of POPIA, regulations made in terms of POPIA, codes of conduct, or information obtained from the Regulator
• Provides copies of the manual when requested upon the payment of a fee to be determined by the Regulator from time to time.

Requirements
QUALIFICATIONS

• B.Com/ LLB or similar relevant degree
• Certificate in Compliance Management from a tertiary institution will be a definite advantage

PREFERRED EXPERIENCE

• 4 years compliance experience at a financial institution

KNOWLEDGE

• The role requires a thorough knowledge of Legal Compliance and the risks inherent in non-compliance
• Proficient in Microsoft Office Programs
• Legislation affecting the bank
• Compliance processes and procedures
   

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Description

•  Ensures accuracy of product, limits, collaterals, pricing, fees, and conditions, by reviewing and updating credit advances documents, so as to ensure all requirements are met. The role also prepares and releases documents via SigniFlow or SharePoint, verifies signed documents for completeness, and reviews subjective conditions such as fee recovery and FICA approvals before facility establishment/utilization. By delivering efficient advances processing to all business units, promoting excellent client service.  Queries to be managed via escalation to the Credit Administration Manager or relevant business units. The role also entails management of staff.

FUNCTIONS OF THE JOB INCLUDE:

PRE-PAYOUT/ESTABLISHMENT OF iMAL FACILITIES/ iMAL DEALS

• Select and process finance applications via Apply for Finance Portal, iMAL Applications, iMAL Facilities, and iMAL Deals using SharePoint Technical Advances Support Log.
• Review decisions and applications to ensure accuracy of limits, product, pricing/profit markup, collateral, fees, data capture, grouping, and account creation before approval on the applicable processing system.
• Issue offers and final approvals on iMAL after completing reviews and coordinating enhancements/updates with Tech Team/Business Units.
• Extract and update approval letters/quotations, update with additional conditions, and upload finalized documents to SigniFlow and/or SharePoint Technical Advances Support Log.
• Set-up/Create signing requirements on Signiflow as per approved Mandates. Confirm accuracy of signing requirements on Signiflow. Release of documents via Signiflow.
• Update SharePoint logs to reassign applications to the responsible Business Unit.
• Review customersigned approval letters as acceptance and process to final approval on iMAL, generating facility number/s for further processing.
• Extract and verify supporting documents such as trust resolutions, beneficiary consents, and resolutions against source documents (CIPC, Trust Deeds, etc.).
• Conduct collateral reviews and approve collateral updates on iMAL.
• Verify accuracy of facilities and deals in iMAL FMS and IIS, review accuracy of fees, product, term, profit markup, securities, and data against source documents like tax invoices and valuation reports, etc.
• Coordinate updates with Business Units or Tech Team, review changes on the applicable processing system, and approve facility.
• Coordinate updates with Business Units or Tech Team, review changes on the iMAL IIS system , and process with document extraction.
• Ensure Shariah compliance for all advance product facilities and deals before releasing documents.
• Processing establishment of performance guarantees.
• Process and establish Foreign Exchange contract facilities.

PAYOUT/ESTABLISHMENT OF iMAL FACILITY/ iMAL DEAL

• Verify documents received from Business Units are correctly signed, complete, and meet all requirements.
• Review FICA Approval confirmation uploaded to the SharePoint Technical Advances Support Log prior to facility establishment and/or payout.
• Ensure fees and deposits are collected and correctly allocated to Fee/GL accounts before processing of facilities/deals.
• Check Shariah checklist for motor vehicle and equipment payment requests (ensure correct checklist is utilised).
• Ensure Shariah compliance of all advance facilities/deals prior to facility establishment and/or payout.
• Verify Credit Committee conditions are met before processing facilities/deals, refer queries to Business Units.
• Process instructions from Business Units for facility establishment and/or deal payouts within agreed timeframes to support customer service.
• Forward property finance payouts to Conveyancing.
• Review insurance confirmations for motor vehicle and equipment deals meet requirements. Notify Insurance Desk of delas to be updated onto register for review.
• Review accuracy of not finalised deals for finalisation process to be initiated by Business units.
• Process all payment requests promptly and accurately.

POST PAYOUT

• Review completeness of security documents, sign off Shariah checklists, and ensure timely dispatch to Conveyancing.

OTHER CONDITIONS LOG

• Create or update log items when processing payments, bond registrations, or facility/trade reviews.
• Update status monthly to show outstanding conditions for all items in the log.
• Review submitted items and flag them appropriately based on findings.
• Oversee monthly log reviews to ensure correct status and staff action on all items.
• Action enhanced email notifications promptly, as the Other conditions Log is monitored for Compliance
• Ensure staff manage requirements on Other conditions Log for the division to not exceed 20 logs for weekly processing.

COVENANT LOG

• Create or update log items when processing payments, bond registrations, or facility/trade reviews.
• Update logs during facility reviews, ensuring prior compliance decisions are uploaded by Business Units as an audit trail.
• Maintain logs to reflect covenant compliance and update status based on branch updates.
• Change status monthly to highlight outstanding conditions across all log items.
• Review and flag submitted items according to findings.
• Oversee monthly log reviews to ensure accuracy, correct status, and timely action by Credit Admin staff.

ASSET REGISTER

• Create new log items for revolving asset facilities.
• Manage utilisation and expiry by updating items during reviews, cancellations, extensions, or expiry.
• Upload signed facility letters at establishment, annual review and amendments/changes.
• Maintain and update data fields at establishment, annual review and amendments/changes to ensure accuracy.

ANNEXURE A LOG (2nd Sale – Musharaka – Sharepoint Log)

• Review and sign off property Shariah checklists prepared by Credit Admin Officers to ensure accuracy and completeness.
• Ensure monthly update of 2nd Sales schedule on SharePoint Log with applicable data from debtors listing.

DIARY UPDATES

• Update diary entries to reflect payments, bond instructions, and trade facilities pending receipt from Business Units, or note when no dispatch is expected.
• Record and manage Not finalised deal payment/s.
• For Development facilities, schedule to be maintained to manage the process and monitor progress
• Oversee monthly diary submission for MANCO meetings.

DOCUMENTS

• Receive, verify accuracy and completeness of documents received from Business Units.
• Sign off bank agreements on behalf of the bank, where applicable.
• Update diary records with documents received and dispatched to Conveyancing.
• Dispatch documents to Conveyancing for scanning and safekeeping.
• Ensure staff comply with all process requirements.

CASH COLLATERAL 

• Prepare or request pledge memos for new pledges or amendments.
• Update and maintain the pledge register with all new pledges, amendments, or releases.
• Review and sign off pledge memos before submitting to Banking divisions for processing.
• Conduct biannual review of pledged funds.
• Ensure staff comply with process requirements.

GUARANTEES

• Prepare legal documents required to establish property and performance guarantees.
• Verify guarantee documents from Business Units is correctly signed and complete.
• Dispatch original documents to Conveyancing.
• Ensure funds are transferred to the Investment Transaction account for processing by Conveyancing.

ARREARS MANAGEMENT

• Oversee arrears management to ensure effective control of due amounts and overdue accounts.
• Maintain arrears within performance targets.
• Review and submit legal handovers.
• Report highvalue arrears weekly to relevant Credit committee.
• Manage Non Performing Assets within approved benchmark

STAFF SUPERVISION

• Manage credit administration function and arrears function to ensure efficiency of daily operations.
• Review and update job descriptions regularly to keep roles aligned with requirements.
• Conduct PDP review process in line with the Bank’s policy.
• Oversee staff leave in accordance with HR policy.
• Daily management of CAH Administration function to ensure operational deliverables are processed efficiently.
• Identify training and development needs to support staff growth.
• Maintain operational efficiency by ensuring staff actively assign, process, and clear log items daily.

GENERAL ADMIN DUTIES/OTHER

• Monitor Advances Technical Support Log to ensure operational efficiency.
• Review and approve collateral updates and facility changes on the iMAL system.
• Support projects by managing applicable with credit documents, testing, reviews, arrears,and user training until rollout. Manage post go live requirements.
• Manage and coordinate project deliverables within assigned timelines.
• Oversee monthly MANCO requirements and ensure timely submissions.
• Maintain effective internal controls.
• Manage Audit requirements.
• Support Business Units.
• Manage/process general assigned administrative tasks
• Conduct ongoing review of processes with view to implement enhancements to improve operational efficiency and manage Operational risk.

PREFERRED EXPERIENCE

• Matric
• Relevant Accounting/ finance degree
• Credit Administration experience of 3 to 5 years in Financial Services Industry
• Any other pertinent qualification\\

SKILLS REQUIRED

• Attention to detail
• Good Communication skills (written and verbal)
• Efficiency and time management
• Ability to work under pressure
• Deadline driven and process orientated
• Ability to prioritize tasks
• Accuracy
• Organisational ability
• Computer literacy
• Confidentiality
• Professional
• Confidentiality
• AI & Robotics