Regulatory Reporting Specialist

Job title: Regulatory Reporting Specialist

Job Location: Gauteng, Johannesburg
Deadline: April 24, 2025

Job Description

• RMB is a place where exceptional people create their own opportunities by challenging the conventional and driving sustainable impact.
• United by our proud heritage, strong ethics, and philosophy of traditional values and innovative ideas, it’s the magic of our people and culture that sets us apart.
• The Regulatory Reporting Specialist is responsible for ensuring compliance with regulatory obligations by managing the renewal of KYC records for Foreign Correspondent Banks, including related regulatory obligations.
• This role involves coordinating with internal teams, evaluating complex documents for regulatory adherence, and managing time-sensitive deadlines.

Are you someone who can:

• Manage timeous and accurate completion of the KYC renewal process due diligence questionnaires.
• Partner with all key stakeholders across the value chain to obtain and submit all necessary supporting evidence to fulfil KYC due diligence requirements.
• Comply with and adhere to identified governance and compliance standards and escalate problems for investigation and resolution.
• Establish and maintain key relationships with relevant stakeholders and departments across the Group that support achieving reporting obligations.
• Ensure compliance with legislative and audit requirements, as well as adherence to relevant processes.
• Track and manage non-compliance findings to finality.
• Actively participate in the execution and implementation of relevant enablement projects, initiatives, and remedial activities.
• Drive and adhere to quality reporting to meet stakeholders' requirements.
• Facilitate timeous engagements with correspondent banks to manage reviews and validation of regulatory information.
• Stay up to date with any changes to processes and procedures, regulatory changes, and ensure impacts are communicated to our business partners.
• Identify and execute process improvements, provide guidance and support on key processes and technology initiatives, and recommend changes to ensure compliance and optimisation of organisational processes.
• Collate and consolidate reporting stats and other governance reports required for reporting of monthly key risk indicators for submission to Operational Risk.
• Collate and update key Client Desirability inputs for quarterly SARB submission.
• Ensure reputational risks related to reporting and/or customers are identified, and appropriate measures are implemented to mitigate risks.
• Maintain a repository of regulatory responses provided.
• Ensure timeous annual and/or ad hoc updates of 3rd party databases, i.e., Bankers Almanac and KYC Swift Registry.
• Ensure licensing and regulatory compliance is in place, i.e., US Patriot Act and Wolfsberg Questionnaire.
• Assist with Due Diligence compliance calls and presentations.
• Facilitate the process of ensuring post-transactional enquiries are addressed and the process for investigations of blocked payments in respect of Correspondent Banking transactions.
• Deliver targeted training on Correspondent Banking operational processes emanating from regulatory/policy changes that relate to Correspondent Banking.
• Ensure oversight and governance of all outgoing due diligence questionnaires.
• Maintain a MI dashboard of all questionnaires received and submitted.

You will be an ideal candidate if you:

• Have completed a Bachelor’s Degree in Finance or Commerce, Risk, or Compliance Management with an ACAMS certification.
• Have 3 to 5 years’ experience in financial services in an environment that handled correspondent banking.
• Have 3 to 5 years’ experience in Financial Crime, KYC/Compliance/AML standards.
• Have resilient interpersonal skills, ability to partner with internal stakeholders, influencing and negotiating effectively with business partners and senior managers, including external stakeholders.
• Proactive and flexible approach to personal workload and wider team targets.
• An understanding of Banking Products, Processes, Systems, and Data.
• Effective at managing time appropriately and organising workload for maximum productivity.
• Self-starter with strong written and verbal communication skills.

You will have access to:

• Opportunities to collaborate and create innovative solutions for our clients.
• Work in a dynamic team and hone your Investment Banking knowledge and skills.

We can be a match if you are:

• Curious & courageous - you're driven by always wanting to know more and learn more and you're brave enough to take the next steps.
• Obsessed with mastery - you know what it takes to become good at what you do and are constantly pushing yourself to do it.