Risk and Compliance Officer

Vacancy Details

This role is responsible for:

1. Monitoring, implementing, and maintaining all compliance activities.
2. Identifying, assessing, and managing relevant risks.
3. Developing, implementing, and maintaining the necessary risk and compliance frameworks.
4. Provides guidance on exchange control practices and exchange control consulting to clients.

Key Accountabilities

Compliance

1. Monitor, guide, and provide internal training on compliance matters related to:
   • Financial Services Board and related legislation (e.g. FICA, FAIS, etc.),
   • Protection of Personal Information (PoPI) Act.
   • Any other relevant legislation associated with a compliance environment of an FSP.
2. Identify and conduct internal investigations of compliance matters.
3. Develop audit schedules, conduct, and report on outcomes of internal audits to ensure adherence to all compliance requirements.
4. Develop and/or regularly review policies and procedures to ensure compliance requirements are accurate and up to date.
5. Compile and file appropriate compliance reports to the regulatory agencies.
6. Plan, schedule and provide compliance training.
7. Collaborate with regulatory agencies when compliance reviews are conducted.
8. Prepare monthly management reports regarding compliance operations and progress.
9. Develop and implement corrective actions where compliance shortcomings are identified.
10. Maintain and safe-keep all compliance-related documentation.
11. Develop and implement improvements in communication, monitoring, or enforcement of compliance standards.
12. Responsible for implementing and enforcing the organisation’s or business units’ compliance programs.
13. Prepare compliance reports for the quarterly Audit & Risk Committee of the Board

Risk

1. Update and maintain the risk management framework.
2. Continuous evaluation of internal and external business environments, identifying trends, statutory changes, opportunities, and threats, and anticipating possible implications for the organisation.
3. Evaluate, support, and oversee risk management activities.
4. Plan and conduct monthly risk audits and report findings.
5. Prepare monthly management reports regarding risk operations and progress.
6. Monitor, assess, and report the impact of any regulatory changes.
7. Plan, schedule and provide risk training.
8. Monitor the maintenance and update of Risk Registers across the business, conduct quarterly reviews, update as needed, and report outcomes.
9. Monitor the development and implementation of necessary controls to mitigate identified risks.
10. Review, analyse, and monthly report incidents recorded on the Incident Registers.
11. Execute daily medium (level 2) and high (level 1&2) risk ratings.
12. Prepare risk reports for the quarterly Audit & Risk Committee of the Board.

Key Relationships

Internal and external relationships; level of interaction and purpose.

Primary

• Chief Financial Officer (CFO) – to seek advice, direction, and guidance on matters affecting the business’s image, reputation, and brand.
• Chief Operating Officer (COO) – to share insights, to seek advice, and enhance the reputation of the business as perceived by its customers.
• Customers.
• Service providers and partners.
• Regulatory agencies (SARS, SARB).

Secondary

• Heads & Leads – to consult and seek input on financial/business risks, controls, mitigating actions, and response.

Additional Skills and Knowledge

It is desirable that the candidate has proven expertise in both business and technical facets of the role including:

1. A degree in commerce is recommended.
2. Membership of the Compliance Institute of Southern Africa is recommended.
3. A minimum of 5 years of risk and compliance experience is required.
4. Ability to influence change and to provide practical guidance on the implementation of new requirements/initiatives.
5. Demonstrated ability to deliver well-written, succinct but comprehensive reports within agreed timeframes.
6. Proven organisational skills, including the ability to prioritise work to ensure deadlines are consistently achieved.
7. High degree of initiative and motivation.
8. Demonstrated influencing and negotiation skills with a professional approach, and an ability to overcome resistance.
9. Proven ability to implement and manage a customer-focused service delivery and performance management culture.
10. An ability to work under pressure in a rapidly changing environment to deliver organisation targets.
11. Demonstrated skills in stakeholder management and developing trusted relationships.
12. Demonstrated ability to distil complex issues into succinct and easily understood language that conveys key messages successfully at all levels of the organisation.
13. Communication skills, both verbal and written (English & Afrikaans) with excellent grammar and spelling.
14. Demonstrated and applied knowledge of relevant regulatory and compliance frameworks.

Additional Information

Employment Engagement

This is a permanent position with FinGlobal Group. The incumbent will be employed under an employment contract that specifies employment terms and conditions including salary.