Head Compliance: Personal Banking
4 days ago
To assist in the implementation and monitoring of compliance program, policies, and procedures within Personal Banking. Responsible for identifying, assessing, and mitigating compliance risks; advising on compliance positions and controls.
Facilitate and communicate compliance and non-compliance to business, and to the Group Chief Compliance Officer in line with Regulatory and Statutory requirements.
Minimum Role Requirement and Qualifications:
- Bachelor's degree/Post graduate degree in Law/Business administration or related qualification
- 5 years Senior Manager level Compliance experience within a banking environment
- Minimum 8+ years' experience in banking, financial services, or a related industry, with a focus on compliance management and risk management
- Knowledge of the end-to-end Compliance in Personal Banking/Retail Banking
- Must have working knowledge of the Financial Intelligence Centre Act; Financial Advisory and Services Act; Cybercrimes Act; Electronic Communication and Transactions Act; ICASA Regulation; Market Conduct and Financial Sector Regulation Act; Privacy Regulation; Consumer Protection Act; NCA; the King IV on Good Corporate Governance
Role Responsibilities:
- Analysing Statutory requirements and Providing Advice to management
- Determine all relevant laws and regulations pertaining to the activities of the Group
- Consult widely with regulatory bodies and industry on interpretation and application of laws and regulations
- Analyse the detailed requirements and document e.g. risk management plan
- Advise Line Management of the requirements in order to determine the necessary controls and update or amend operational procedures
- Analyse and advise on adequacy of controls to Line Management
- Interpret, advise and consult with various business functions in respect of legislative requirements
Monitoring and Reporting on adherence to Statutory requirements
- Determine the required tests for internal audit to provide the necessary assurance
- Receive and analyse findings from Internal Audit
- Advise Line Management 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 Executive Management and Board
- Issue a report annually to Audit committee on the general level of compliance with Regulation 47 in the Group
Compliance to Statutory and Regulatory and other Requirements
- Draft and maintain compliance policies and manuals for approval by the Board
- Create awareness as per the following activities:
- conducting presentations
- Issuing compliance alerts
- Publishing documentation on the intranet
- Drafting communication for internal use
- Advise Training Department of required training interventions in respect of new or amended laws and regulations (e.g. FICA)
- Inform Board, Executive and Regional Management on developments in the regulatory environment
Communicating with Regulatory Bodies
- Liaise with and communicate with regulatory authorities
- Consult widely with such regulatory bodies on interpretation, application and level of adherence to laws and regulations
- Manage and assess the quality of regulatory reporting
- Respond to any enquiries from the regulatory bodies
- Liaise with business regarding special requests from Regulators and facilitate submissions where required
- Co-ordinate and facilitate on-site regulatory audits whenever requested
- Inform the board of relevant regulatory interaction
- Submit the required reports and returns in order to discharge the duties of the Money Laundering control officer
- Prepare Information on relevant regulatory interaction as requested
Other/general
- Assist the Group Chief Compliance Officer in the implementation of the compliance strategy, programme and objectives
- Responsible for adding value to the efficiency of the division through process and systems enhancement including documenting and implementing enhancements and automation
- Mid-Senior level
- Full-time
- Legal
- Industries
- Banking
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