Compliance Head-2

Job Description

To manage the Compliance function in the business unit and to assist the Segment Compliance Head and Group Chief Compliance Officer in terms of compliance holistically as per the Banks Act Regulations through the implementation of the FirstRand compliance risk framework enabling management to adhere to regulatory requirements and prevent exposure risks in this regard, in line with the FirstRand and related segment business strategy and FirstRand Group wide compliance strategy as well as ensure that the Segment and Business Unit specific Compliance deliverables are implemented and completed.

Key Responsibilities

• Contribute to the development of larger overall area budget.
• Develop the budget for the next financial year for area of responsibility taking all operational plans into consideration.
• Research and design a longer term financial resource requirement plan for the area of responsibility.
• Present the business case to motivate for financial resources.
• Analyse and develop implementation plans against the forecasted financial budget.
• Develop tactical budget for area of responsibility that minimise expenditure and manage costs.
• Control the budget for area including the authorisation of expenditures and implementation of financial regulations.
• Apply a customer-centric approach that focuses on creating a positive experience for the customer by maximizing service and/or product offerings and building relationships to ensure that the customer is at the centre of the business philosophy, operations and ideas.
• Build relationships that allow for the managing of expectations; the sharing of knowledge and diverse insights; and the creation of buy-in.
• Engage in cross-functional relationships to obtain and to provide work support.
• Contribute to sustaining a competitive edge through external networking, benchmarking and representation on related forums.
• Ensure integrated view and reporting of relevant business information.
• Analyse information to identify trends, discrepancies and inconsistencies for decision making purposes.
• Ensure reporting of identified inconsistencies or opportunities.
• Use the insights gained through integrated business reports to measure success and realign tactical strategy implementation objectives appropriately.
• Participate with senior management to establish strategic goals, plans and objectives for the organisation and make strategic decisions based on company goals and objectives.
• Develop compliance guidelines, processes, and procedures for various business units through collaboration with business unit leadership.
• Negotiate and influence matters affecting the compliance team within the Africa operations.
• Analyse, address and resolve compliance issues.
• Provide oversight and support on compliance related matters.
• Ensure processes and other controls exist within the business to enforce compliance with laws, regulations, policies, and procedures.
• Oversee and manage internal data privacy compliance reviews, where required under local laws and regulations.
• Ensure the implementation of compliance awareness and training programs across the organisation.
• Brainstorm, identify, implement and drive innovative best practice ideas within the organisation to ensure increased efficiencies.
• Create and participate in specialist communities of practice and represent the organisation at Group and industry level to share best practice insights and solutions.
• Drive strategic projects, change management and platform integration across operations.
• Leverage Group capability to exploit opportunities.
• Ensure and encourage adherence to an operational framework of policies and procedures.
• Implement compliance programmes, processes, and procedures in support of laws and regulations.
• Ensure that operations are monitored and audited, including systems in place to detect compliance violations in high-risk, transactional activities, red flag indicators and metrics for compliance risks.
• Evaluate the effectiveness of business unit processes and other controls that exist to ensure compliance with laws, regulations, policies, and procedures.
• Oversee and manage the monitoring of business unit conduct (e.g., for violations of applicable laws, regulations, policies, and procedures).
• Manage critical projects including incident and crisis management to ensure that the incident management plan is executed in a timely manner.
• Ensure compliance with the requirements of Business Continuity and Issues Management programmes.
• Collaborate with business units to perform periodic reviews of compliance effectiveness.
• Compile and submit compliance-related reports to various regulators, as and when required.
• Report to regional and international executives on all compliance related matters.
• Work closely with internal audit team and Head of Stakeholder Engagement on the audit findings and regulatory issues and updates.
• Lead and participate in compliance related system and operations development projects.
• Collaborate with the Legal and Corporate Investigations departments on all joint ventures and/or related matters.
• Respond to compliance and due diligence questionnaires from clients and prospects.
• Participate with the business unit in self-assessments/audits, incl. data privacy and compliance-related assessments and other reviews.
• Maintain expert knowledge on relevant legislative amendments, industry best practices and provide advice to relevant stakeholders.
• Maintain up to date knowledge of local and global trends.
• Provide thought leadership and expertise.
• Establish an enabling climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.
• Influence the development and enablement of a culture and climate where the organisational values are demonstrated and lived.
• Influence the understanding and adoption of the organisational strategic direction.
• Lead a development culture where information regarding successes, issues, trends and ideas are actively shared.
• Build and sustain collaborative working relationships with relevant peers and stakeholders to achieve productivity synergies.
• Lead specialist communities of practice and contribute positively to own and organisational knowledge improvement.
• Understand the competency and skills sets to be mastered to ensure personal and employee development and performance.
• Identify development needs and select effective solutions to address own and employee development needs to facilitate improvement of self and team.
• Ensure that each employee prepares a personal development plan that is implemented and reviewed as required.
• Create an environment conducive to cross-functional skills transfer.
• Keep abreast of learning opportunities, changing products and trends.
• Provide guidance, share knowledge and expertise and guide employees to find their own solutions.
• Share constructive feedback that motivates others to grow.
• Manage performance of team or teams in areas of responsibility against expected individual and team delivery targets.
• Manage performance moderation, disciplinary action, recognition and retention processes in line with HR policies and procedures.
• Build team succession plans for roles in own area and influence resource planning.
• Ensure clear contracting and assessment of performance expectations in line with identified objectives and enable a learning and growth culture.
• Implement people resource planning in line with delivery and performance objectives within budget and in partnership with specialised areas.
• Implement talent management practices in line with HR policies and procedures.
• Provide direction, coaching, and regular feedback to employees to improve performance and implement performance improvement initiatives.
• Ensure that skills are transferred in specific function.
• Ensure implementation of employment equity plan target achievement in all recruitment and employee movement activities.
• Identify current and future human capital needs and skills requirements.
• Ensure relevant resolution of conflict and respond to any complaints or concerns.

Job Requirements:

• Minimum of a Bachelor’s degree in compliance, legal, risk management or similar.
• Relevant certifications such as Certified Compliance & Ethics Professional (CCEP) or similar are preferred.
• Experience in the fintech or financial services industry is highly desirable.
• 10+ years of experience in a compliance role.
• Deep understanding of corporate governance, anti-money laundering (AML), investment, transact, lend products and/or payment services regulations, crypto asset regulatory frameworks and other relevant legislation.
• Experience in dealing with regulatory bodies, currency and exchange, crypto assets.
• Solid understanding of legal and AML/CFT and anti-bribery and corruption compliance requirements and controls.
• Ability to lead and manage a diverse team.
• Excellent spoken and written English communication skills.

Application Information

Take note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below: 18/11/24.

All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.