Purpose Of The Job

The Compliance Officer is responsible for developing, implementing and enforcing the policies and procedures designed to minimize potential regulatory risks (including money laundering risks) and take responsibility for all reports, amendments, communication and compliance relating to SARB/FIC/FICA.

Minimum Qualifications:

A relevant degree or NQF5 qualification
A minimum of 5 years' full time experience in Foreign Exchange Operations
Certification in South African AML and FICA requirements
SARB APPROVAL
RE1 – Key Individual
Minimum Requirements:

7-10 years working experience as a Compliance Officer in Foreign Exchange & Money Transfer
Knowledge of SARB: Go AML/FIC Act/FICA/KYC
Knowledge of SARB: CFT: Combating Financing Terrorism
Highly Experienced in risk management of clients and staff
Highly Experienced in monitoring compliance with the Exchange Control Rulings
Highly experienced in reporting: Sections 28, 28A, 29 (STR & SAR) & 32 of the FIC Act
Highly Experienced in Foreign Exchange and Money Transfer Software
Language(s): English
Driver's license: B ,EB
Availability for travel: Local
Extensive knowledge of POPI Act
Key Performance Indicators

Well versed in AML, CFT, Fraud Prevention and Exchange Controlregulations and rulings
Regulations are followed by all employees as set out in the Internal Rules document
Proper recordkeeping as mandated by local regulations and contractual undertakings
Effectiveness and monitoring of the Internal rules
Ensure employees are trained and tested on a regular basis


Key Job Functions*

Forming and performing an efficient and effective Regulatory Risk & Compliance function which contributes to the company’s growth and strategy realization.
Developing and integrating a risk based approach across all services (including customer and branch profiles)
Implementing a risk-based monitoring program to monitor and manage regulatory requirements over the short, medium and long-term (RMCP)
Defining and rating the company’s regulatory risk universe and map
Conducting monitoring according to the monitoring program which must include Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements
Ensure compliance with the FIC Act and all other relevant legislation
Monitoring to ensure that there is continuous compliance with the Exchange Control Rulings
Correct and timely reporting per Regulatory requirements
Reports to be filed as per Sections 28, 28A, 29 (STR & SAR) & 32 the FIC Act)
Developing and maintaining relationships with the Regulator and industry bodies
Monitoring the regulatory environment to identify new applicable regulatory requirements and amendments to existing requirements
Advising and consulting with business on regulatory developments and on the regulatory implications of non-compliance
Ensuring that the Internal Rules document is kept up to date and is a “live” ongoing document
Providing ongoing employee training and assessment to ensure compliance with Internal Rules
Promoting and maintaining a compliance culture within Forex World through awareness campaigns and training programs
All employee transactions are monitored
Fraud Prevention
Employee training and advising
Key Qualities

Ability to integrate information with processes
Communication skills (verbal, written, numeric)
Accountable
Professional
Trustworthy