Group Head: Risk and Compliance

Roles and Responsibilities

Core Functions:

• Enforcing standards through well publicized disciplinary guidelines.
• Developing policies addressing dealings with sanctioned individuals.
• Conducting periodic risk assessments and response plans.
• Conducting internal monitoring and auditing.
• Ensure that employees conform to laws and regulations when performing tasks.

Oversee and monitor the implementation of the compliance program. Report on a monthly basis to the executive management team, CEO and External Compliance Officer on the progress of implementation and assisting these components in establishing methods to improve efficiency and quality of services, and to reduce the vulnerability to fraud, abuse, and waste. Ensure that the business continuously meets all its regulatory reporting requirements. Periodically revise the compliance program in light of changes in the needs of the organization, and in the law and policies and procedures of government. Develop, coordinate, and participate in a multifaceted educational and training program that focuses on the elements of the compliance program, and ensure that all employees and management are knowledgeable of, and comply with, pertinent government and industry regulations and standards. Ensure that independent contractors, agents and service providers are aware of, and comply with the requirements of the compliance program. Coordinate internal compliance review and monitoring activities, including periodic reviews of agent activities. Respond to customer and governing body queries as the principal point of contact. Independently investigate and act on matters related to compliance, including the flexibility to design and coordinate internal investigations (e.g., responding to reports of problems, ''hot-line'' calls, or suspected violations) and any resulting corrective actions with all departments, providers and sub-providers, agents and, if appropriate, independent contractors. Develop policies and programs that encourage managers and employees to report suspected fraud and other improprieties without fear of retaliation Implement written policies, procedures, and standards of conduct. Establish a compliance committee. Promote and monitor good corporate governance throughout the Group;

• Develop and monitor adherence to regulatory universe in South Africa and establish and manage risk ratings for such legislation;
• Establish training programs, including e-learning, around high risk legislation to be rolled out to staff;
• Head up internal audit, oversee outsourced audit provider;
• Overseeing licensing compliance, if applicable;
• Report to and participate in the Risk and Audit Committee;
• Developing and implementing written policies, procedures and standards of conduct for Group;
• Review and revise enterprise-wide risk management policies and procedures and implement in line with best practice;
• Establish risk appetite and risk tolerance, total cost of risk;
• Custodian of Company Risk Registers – updated regularly, risks addressed and mitigated, allocate ownership of risks- present at audit committee;
• Conducting periodic risk assessments and response plans;
• Control and management of the Tip-Offs Anonymous Hotline;
• Review and revise current Business Continuity and Disaster Management Plans and implement;
• Carry out risk awareness training;
• Liaison with PACI (Partnering against Crime Initiative);
• Develop risk assurance mechanisms;
• Ensuring compliance with King IV

Education & Qualification

• CA(SA) or Bachelor’s degree in commerce or law with at least 10 years’ experience in a risk and compliance role.
• Understanding of the Financial Advisory and Intermediary Services Act.
• FAIS Regulatory Examinations (RE 01 and RE 05) - TBC
• Ability to make critical business decisions and recommendations.
• 3 years general compliance and/or risk management experience.

Preferred Skills

• Proven success record in Compliance management.
• Excellent verbal, writing and presentation skills.
• Excellent organisational skills.
• Self-motivated with a high level of creativity and a sense of urgency.
• Ability to manage several simultaneous projects and resources without losing focus.
• Well organised and detail-oriented.
• Ability to coach and develop employees.
• Risk Management software – off the shelf or developed internally
• Communicating lessons learned, best practice, trends, fraud prevention etc

Competencies

Essential

• Writing and Reporting
• Analysing
• Adhering to Principles and Values
• Learning and Researching
• Delivering Results and Meeting Customer Expectations<