To ensure that African Bank Business and Commercial conducts its business activities in compliance with applicable legislation, regulatory requirements, and internal policies, by proactively identifying, managing, and mitigating compliance risks across African Bank.
Responsible for implementing and updating compliance policies and procedures to reflect changes in the regulatory landscape. Support the business in embedding compliance controls into operational processes. Drive compliance training programs for employees to promote a culture of compliance across the bank.
Key Responsibilities:
Monitoring and Reporting on adherence to Statutory and policy obligations
- Determine and advise the level of Compliance within each assigned business unit and entity within Business and Commercial
- Develop and implement a monitoring plan based on identified areas of risk and as per routine required as well as from receipt and analysis of findings from Internal Audit
- Prepare reports on same within timeframes
- Advise Line Management and compliance champions of deficiencies and recommend corrective action
- Maintain an issues log of deficiencies and monitor the implementation of corrective action
- Report instances of non-adherence to Line Manager and the Business and Commercial Head of Compliance
- Prepare the necessary Compliance reports for submission to the various management and governance forums
- Perform regular audits and compliance monitoring activities to assess adherence to policies and regulations
- Report findings to senior management and regulatory authorities, as required, and recommend remediation measures
- Determine all relevant laws and regulations pertaining to the activities in Business and Commercial
- Develop/review risk management plans in accordance with best industry compliance practice
- Regularly engage with and advise the business of the relevant regulatory requirements in order to determine the necessary controls and ensure update or amendment of operational procedures
- Analyse and advise on adequacy of controls to Line Management
- Launch compliance initiatives across all relevant departments, ensuring proper communication of objectives
- Project management of strategic compliance initiatives under the Business and Commercial Banking compliance programme
- Prepare the necessary project reports for submission to the various governance forums within the Bank
- Embed compliance controls into day-to-day operations and workflows
- Ensure that standard policy and process documents are in place in the various businessunits and that these are regularly reviewed and updated
- Creating awareness of legislative requirements and ensuring that staff are aware of and competent in all aspects of Compliance, interalia through; conducting presentations
- Issuing compliance alerts, publishing documentation on the intranet & drafting communication and advice for internal use
- Advise Training Department of required training interventions in respect of new or amended laws and regulations, prepare training material as required and monitor educational outcomes
- Prepare information for the Line Manager and Business and Commercial Head of Compliance for presentation at various levels within the organisation
- Bachelors degree/Law/ Risk Management or related qualification
- Minimum 5-7 years in a Compliance role within the banking or financial services sector
- In-depth knowledge of banking operations, procedures and compliance processes
- In-depth working knowledge of Market Conduct, POPIA, NCA, FICA and related legislation
- Ability to compile compliance risk management plans and conducting monitoring activities to ensure adherence to applicable legislation.
- Ability to analyse complex information, identify compliance risks, and recommend practical solutions
- Exceptional focus on accuracy to ensure adherence to regulatory requirements and internal policies
- Experience in providing regulatory compliance advice and training to internal stakeholders
- Ability in monitoring and interpreting regulatory developments and changes in legislation to ensure ongoing compliance by the Bank
- Agility to respond to changes in regulatory environments and business operation
- Familiarity with compliance monitoring tools, reporting systems, and risk management software
- Ability to influence and work collaboratively with stakeholders across different departments
- Competence in leveraging data analytics to support compliance activities
- Analytical and problem-solving abilities to identify and address compliance issues
- Competence in drafting guidelines, regulatory submissions, policies and standards for business stakeholders
- Staying abreast and maintaining up-to-date knowledge of industry trends and best practices in the financial sector and compliance profession
- Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook)
- Project management knowledge and tools for tracking compliance tasks and projects
- Report writing
