Our client, a financial services provider is looking for a Compliance officer who will be responsible for Identifying, accessing, and managing compliance risk. The incumbent will also be responsible for regulatory compliance monitoring and related activities for applicable Group companies.

Formal Qualifications

• LLB / or other relevant postgraduate qualification in compliance and risk management
• FAIS approval for Category I, 2,2A ,3 and CISCA

Required Experience

• 3-5 years related experience
• Understanding of the financial services and insurance industry essential

Job responsibility:

To establish a Compliance Framework
Ensure company-wide commonality with respect to compliance risk management principles and methodologies
• Design and implement standards, policies and procedures for compliance risk management that are in line with global best practice
• Support, guide and educate the business and GRC Specialists on compliance related matters
• Develop, implement and maintain the Cherwell Compliance and Surveys tool for compliance risk management in the fulfillment of its monitoring obligations, record keeping and subsequent reporting to various stakeholders
• Take responsibility for all compliance and governance aspects under SAM
• Development of reports, setting of reporting standards to provide accurate pertinent compliance reports
• Provide guidelines for dealing with and escalation of compliance breaches
• Assist the business in resolving (remedial action) compliance breaches to legislative requirements
• To ensure that all the statutory reporting requirements are done on a timely basis as required in terms of the applicable legislation and/or approvals obtained
To identify all amendments to legislation, draft legislation and new legislative that impact or could impact the compliance universe
• Ensure consistent interpretation and implementation of legislative requirements
• Review and update the monitoring plan to include new high risk exposure areas to enable compliance to provide assurance on the implementation of new policies and procedures regarding the new/amended legislation
• clarification/interpretation of new/amended legislation if required
Maintain strong working relationships with the applicable Regulators being FSB, SARS, SARB and FIC and with other interest groups in the financial services industry
• Assist GRC Specialists to respond to regulatory enquiry received, including request for information, fines imposed, and outstanding statutory returns and onsite visits
• Interact with the Regulators regarding proposed legislative amendments
Development of a monitoring plan in consultation with Head of Compliance
• Develop and obtain approval of the risk based monitoring plan to be implemented by the Risk Committee
• Monitor the effectiveness of controls to mitigate or minimize risks and to detect breaches on a timely basis