Compliance, Legal and Risk Management Specialist - Investments
Rory Mackie & Associates
Cape Town, South Africa, Western Cape, ZA
5d ago

The Compliance, Legal and Risk Management Specialist will be responsible for building a compliance, legal and risk management framework within a growing business.

Establish, implement and monitor processes and systems that support these functions while ensuring that proper regulations are adhered to.

Reporting directly to the CEO.

Responsibilities :

Operations Functions (Infrastructure, Process, Systems and Tools) :

  • Implementation of compliance, legal and risk management processes and systems that can cater for scale, operational efficiency, technology, workflow and strong governance
  • Create, implement and maintain procedures and documentation of best practices - policy formulation and implementation and leverage the use of technology to provide efficiencies in all areas of compliance, legal and risk management processes
  • Development and maintenance of systems and tools to support compliance, legal and risk management functions
  • Work on firm-wide special projects related to operational efficiencies, processes and system improvements
  • Strong awareness of market developments in compliance, legal and risk management and ensuring solid relationships across the business
  • Compliance :

  • Establishing a sound compliance and corporate governance framework and ensuring that all business practices, processes and activities are consistent with appropriate regulations as well as internal procedures
  • Assist management to establish and maintain a robust compliance function within the risk management framework of the business according to the FAIS Act
  • Ensuring all controls are in place to mitigate compliance risk within the business
  • Assess company operations to determine compliance risk
  • Provide key investment compliance monitoring expertise for investment related functions of the company alongside the investment team :
  • Responsible for compliance with the requirements of REG28, REG30, LTIA, CISCA etc. Responsibility includes monitoring compliance, documenting findings and reporting findings to management
  • Key person responsible for all investment compliance monitoring
  • Regulation 28 analysis and reporting
  • Assisting with ASISA and FSB quarterly reporting
  • Investigating breaches from portfolio managers
  • Interpretation of legislation, standards and Client Mandates - Coding of rules in compliance systems
  • Compliance Static Data Management
  • Pre-and post-trade breach analysis on relevant compliance systems - Breach resolution via liaison with portfolio managers
  • Advise management on the company’s compliance with laws and regulations through detailed reports
  • Create and manage effective action plans in response to audit discoveries and compliance violations
  • Regularly audit company procedures, practices and documents to identify possible weaknesses or risk
  • Ensure all employees are educated on the latest regulations and processes
  • Review and sign off the company's marketing material and ensuring records of all published marketing documents are kept in accordance with regulatory requirements
  • Responsible for liaison with Regulators
  • Ad hoc tasks as required
  • Legal :

  • To provide key legal advice and support primarily to the investment management and companywide operations of the company
  • Drafting, negotiating and reviewing of, among others, client agreements, trading agreements, service level agreements, loan agreements, shareholders agreements, preference share agreements and security agreements and any other legal agreements applicable to the different business units
  • Advising the company on the legal aspects of transactions as well as continued research into various aspects of the law and regulatory framework impacting on the legal viability of transactions
  • Experience with interest rate swaps, forwards, options, ISDA, GMRA and GMSLA Master Agreements, return swaps, various fund structures is essential.
  • It’s essential that you have good working knowledge and understanding of financial market legislation including but not limited to FMA, CISCA, LTIA, EMIR, FAIS and regulatory matters pertaining to OTC Derivative Markets

  • Advising on the impact of legislation applicable to the business
  • General legal advisor responsibilities
  • Provide expertise and oversight on litigation and regulatory matters
  • Drafting of legal opinions
  • Legal documentation management
  • Legal risk management reporting
  • Identifying and liaising with external attorneys to prepare the necessary documentation, reviewing these and negotiating with the client and their legal representatives to finalize agreements
  • Risk Management :

  • Management of enterprise risk management through the creation, enhancement, implementation and review of integrated frameworks for the identification, measurement, mitigation and monitoring of risks from all sources and across all business units within the company
  • Document and ensure communication of key risks
  • Plan and contribute to development of risk management systems
  • Recommend ways to control or reduce risk
  • Identify key risks and mitigating factors of potential investments such as asset types and values, legal and ownership structures, professional reputations, customer bases or industry segments
  • Consult with portfolio managers to identify and communicate risks associated with specific portfolio strategies or positions
  • Track, measure, or report on aspects of risk for traded portfolio positions
  • Meet with clients to answer queries on subjects such as risk exposure, market scenarios, or values-at-risk calculations
  • Gather risk-related data from internal or external resources
  • Develop or implement risk-assessment models or methodologies
  • Devise systems and processes to monitor validity of risk modeling outputs
  • Maintain input or data quality of risk management systems
  • Conduct statistical analyses to quantify risk using statistical analysis software or econometric models
  • Provide statistical modeling advice to other departments
  • Devise scenario analyses reflecting possible severe market events
  • Identify and analyse areas of potential risk to the assets, earning capacity or success of the company
  • Produce reports or presentations that outline findings, explain risk positions or recommend changes
  • Create business continuity plans in order to mitigate and reduce risks
  • Develop contingency plans to deal with emergencies
  • Analyse new legislation to determine impact on risk exposure
  • Review or draft risk disclosures for offer documents and for any other need
  • Consult financial literature to ensure use of the latest models or statistical techniques
  • Build risk awareness amongst staff by providing support and training within the company
  • Competencies and technical skills :
  • A solid knowledge of legal, compliance and risk management practices
  • Sound, proven analytical skills
  • Logical thinking skills
  • Excellent negotiation skills and an ability to influence
  • Strong and effective communication skills (verbal and written)
  • Meticulous planning and excellent organisation skills (must value being organized, accuracy and attention to detail)
  • Acute awareness and appreciation of detail, demands and deadlines
  • Strong computer literacy (Office Suite with Advanced Excel skills)
  • Problem solving skills
  • Research and due diligence skills
  • Strategic leadership and / or management skills
  • System automation skills (Ability to automate processes / procedures and apply analysis in a database environment)
  • Coordination skills
  • Implementation skills
  • Excellent decision making / judgement skills
  • Strong working knowledge of financial markets and financial securities / investments
  • Commercial awareness
  • Ability to understand broader business issues
  • Ability to evaluate employees’ risk awareness and train them when necessary
  • Qualifications and Experience required :

  • Bachelor of Law degree or LLB qualification
  • Must be an Admitted Attorney
  • Minimum of 7-10 years extensive and relevant experience in compliance, legal and risk management role in asset management or an investment environment for a regulated entity
  • FSB Regulatory Exams (as a Representative)
  • Any other relevant industry certification in compliance, legal and risk management
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