Test Division Summary
To enable the execution of Compliance Risk Management processes and activities within a specific business / functional area, to ensure that the area is undertaken in a compliant manner to avoid operational losses, fines, penalties or reputational damage to the organisation and enable the competitive advantage of the organisation.
Key Responsibilities / Accountabilities
Risk, Regulatory, Prudential & Compliance
Report all material compliance issues, using the established escalation and reporting mechanisms and processes to ensure these issues are resolved swiftly and therefore minimising the impact of any financial or reputational damages.
Proactively identify and address gaps in controls, processes and procedures as well as advise on and monitor remediation plans to address any short-comings.
Provide appropriate management information from a Compliance perspective in respect of the business area services.
Connect Centre of Excellence execution into the business area delivery in a manner that enables effective adherence to the required frameworks, policies and standards.
Fulfil the required regulatory role as prescribed by the relevant governing bodies.
Inform Business Line Heads, relevant CoE Heads, other Compliance Heads about regulatory inspections and act as a conduit for any significant information requests, comments and findings.
Provide advice to management, employees and relevant committees, within a functional area, regarding the regulatory universe, relevant compliance frameworks underpinning their operations and any other regulatory developments, to ensure that the area can comfortably manage compliance risks and conduct business in a compliant manner.
Customise and maintain generic risk management plans (RMPs) to ensure it is appropriate within the regulatory context of a specific functional area.
Develop, track and report on the progress of the compliance monitoring plan for a functional area in order to identify significant compliance breaches, exposures and potential areas of improvement.
Review compliance frameworks, standards and procedures in the context of a functional area and advise on their customisation or amendment, where necessary.
Maintain and align the compliance manual to ensure it is appropriate for the unique regulatory requirements of a functional area.
Review compliance training material to ensure that it is appropriate for the needs of the functional area therefore providing sufficient understanding and awareness compliance requirements within the relevant area of operations and deliver bespoke face-to-face training where required.
Keep abreast of and analyse regulatory and legislative developments, applicable across the business unit in order to deliver expert advice to relevant stakeholders.
Analyse the operational activities within a functional area to identify compliance risks and therefore ensure adherence to the relevant Standard Bank Group compliance frameworks and standards.
Completes and contributes to compliance reports as required by various governance structures, committees and regulations, particularly regarding the compliance performance of the business unit.
Complete and maintain a Business Unit specific Regulatory Universe to effectively enable the organisations adherence to the required legislative requirements.
Preferred Qualification and Experience
Complete the required regulatory qualification as required by the role (e.g. STRATE Compliance Officer, JSE Compliance Offer)
Certificate in Compliance Management
3 - 5 yearsThe role requires an expert in Compliance with a sound knowledge of the relevant regulatory requirements and upcoming developments applicable to a specific business area as well as a solid understanding of investments and long-term insurance products and financial services activities.