- REQ: 118862 - Refilwe Falatsi
- Division: Nedbank Insurance - Functional Area (Governance)
- Closing Date: 10 February 2023
- Employment Equity Statement: Preference will be given to individuals from underrepresented groups.
Risk, Audit and Compliance
Career Stream
Regulatory Compliance
Leadership Pipeline
Manage Self: Professional
FAIS Affected
Job Purpose
- To consult on and advise the business area regarding relevant domestic and international Anti-Money Laundering and Terrorist Financing legislation; risk, compliance and governance to ensure abidance to relevant codes; regulations and rules thereby minimising risk to and protecting the reputation of Nedbank.
- Advise business on best practice for AML/TF by ensuring the business is educated on the compliance culture and by creating awareness around AML/TF implication of daily duties.
- Support the central function by assisting in developing of policies, procedures, frameworks and tools with specific focus on relevant risk legislation, for the benefit of the larger organisation.
- Define governance frameworks and ensure good governance practice.
- Ensure business committees operate according to required business governance standards through regular engagement.
- Assess committees adherence to the governance requirements.
- Ensure AML/TF standards are met and risks are mitigated.
- Identify, define and agree on the regulatory universe applicable for each relevant Business Unit, mitigating risks.
- Conduct Finance Crime risk and control self-assessments (RCSA's)
- Mitigate risk and applicability to business.
- Ensure that AML/TF is adequately addressed.
- Test whether the business control is effective and adequate and ensure that business policies contain the right content addressing legislative requirements.
- Advise business of changes and identify potential impact of these changes on the business.
- Influence the enhancement of business processes and methodologies.
- Prevent AML/TF breaches and reputational risk from occurring, which could result in financial penalties.
- Ensure awareness of business AML/TF status.
- Promote and facilitate cross Cluster engagement, manage and improve business efficiencies.
- Engage with stakeholders on findings of Financial crime risk and control assessments.
- Enable management to make informed decisions and prevent AML/TF breaches.
- Ensure that stakeholders relationships are effectively managed.
- Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.
- Stay abreast of developments in field of expertise, ensuring personal and professional growth.
- Understand and embrace the Nedbank vision and values, leading by example.
- Ensure upskilling and effective handover to relevant responsible person.
- Manage performance through training, development and addressing poor performance via HR channels.
- Educate self-regarding business, through engagement, meetings, procedures and policy awareness.
- Contribute to a culture of transformation by participating in Nedbank culture building initiatives, business strategy, and CSI.
Essential Qualification
- Bachelor's Degree in Commerce, Business Science, Law, Risk or Compliance
- Matric / National Senior Certificate
- Compliance Institute of South Africa preferred
- Mandatory experience in an Anti Money Laundering (AML) Specialist function experience
- 3 - 5 years Insurance experience preferable
- Regulatory Advisory capacity for 5 - 10 years experience
- Relevant Governance controls and regulatory knowledge
- Corporate Governance & Compliance
- Compliance reporting
- Archiving Documentation
- Policy & Procedural Knowledge
- 360 Decision Making
- Influencing
- Building Trusting Relationships
- Managing Work
- Quality Orientation
- Stress Tolerance