Compliance Manager

Job Summary

The Compliance Manager will be responsible for ensuring the implementation of the Group's compliance frameworks and programmes in consultation with business units to ensure conformance and adherence with regulations and deliver through a team of Compliance resources/specialists.

Key Responsibilities

• Ensure adherence of organisation policies and procedures, especially regulatory and ethical standards.
• Perform regular audits, design control systems and help to design and implement company policies.
• Deliver against operational and cost targets.
• Prioritise resource allocation to minimise and reduce wastage.
• Monitor costs for the financial year according to the operational plan.
• Allocate and approve expenditure.
• Review cost reports and resolve or explain variances to the budget.
• Identify, control and escalate potential risks that may lead to increased costs.
• Manage costs or expenses within approved budget to achieve cost efficiencies.
• Provide input into the budgeting process and monitor utilisation for the financial year according to the operational plan.
• Produce or review budget reports to make sure they accurately reflect work activity.
• Ensure financial documentation is maintained to support accurate record keeping and future legislative requirements.
• Escalate potential budget risks that may lead to increased costs or financial losses.
• Present work proposals on planned activities that will require financial resources.
• Allocate and approve expenditure.
• Collate, analyse and evaluate data and information to forecast expenditure and cash flow trends and make recommendations to improve budget.
• Deliver customer experience excellence aligned to organisational values and service standards.
• Build professional long-term relationships with customers based on trust that builds the brand.
• Collect and interrogate information and feedback to ensure full understanding of customer needs to deliver a quality service.
• Deliver service that exceeds customer expectations through proactive, innovative and appropriate solution selection and application.
• Provide customers with relevant information to keep them informed of products and service options identification of improvement opportunities.
• Implement, monitor and control business processes according to quality standards; policy; and compliance and governance requirements in area of accountability.
• Ensure the development, alignment, mapping and implementation of end-to-end processes aligned to the customer journey map.
• Research, enable and consult on improvements and opportunities to harness technology and platform enablement.
• Review existing processes and suggest innovative ideas to improve and streamline processes to drive efficiencies and minimise redundancy.
• Monitor customer feedback reports and align processes to maximise efficiencies.
• Analyse and interpret regulation and legislation and using a risk-based approach. Identification and risk rating of applicable laws and regulations for responsible business units.
• Development and implementation of compliance/legislative universe for responsible business units.
• Development and implementation of Compliance Risk Management Plans (CRMPs) for core legislative and regulatory provisions.
• Compiling monitoring plans indicating the compliance monitoring methodology used and the frequency thereof.
• Compiling monitoring reports on the results of monitoring.
• Incident reporting, to ensure timeous escalation of compliance risks and incidents Interpret regulation and legislation and assist business units with practical implementation thereof.
• Advise and provide guidance to management on systems, policies, processes and controls implemented to enable compliance.
• Research and communicate applicable legislative developments to all stakeholders Assist with the promotion of a culture of compliance and awareness and actively participating in compliance projects and training initiatives.
• Provide training on regulatory requirements to channels.
• Ensure compliance with relevant statutory, legislative, policy and governance requirements in area of accountability.
• Ensure implementation of relevant policies, governance and practice standards across the business.
• Maintain knowledge on relevant legislative amendments, industry best practices and internal compliance procedures and requirements.
• Ensure compliance is adopted in terms of systems and procedures as laid out by organisation and review in response to audit findings and changes.
• Develops an understanding of risks and risk management approaches.
• Implement and provide input into the development of governance and compliance procedures and processes within area of specialisation and identify risks.
• Educates others and makes suggestions for improvements.
• Networks and participates in specialist risk forums where required.
• Provide input into the development of the business area tactical strategy in achievement of the overall business strategy.
• Develop and implement an area operational plan in achievement of Business objectives.
• Responsible for implementing and enforcing the organisation's or business units' compliance program.
• Maintains awareness of regulatory framework and specific obligations within Financial Advisory and Intermediary Services (FAIS) Act, code of conduct, and requirements.
• Consults on an on-going basis with operational managers to ensure conformance with applicable laws and regulations covering diverse fields.
• Manages, oversees and monitors Financial Advisory and Intermediary Services (FAIS) compliance to ensure that representatives comply with all financial soundness requirements, licence conditions and annual levies.
• Performs statistical sampling and monitoring.
• Maintains register of representatives and informs Registrar of any changes. May have supervisory responsibilities. Maybe responsible for the control of the Know Your Customer (KYC) / Anti-Money Laundering and Anti-Money Laundering Foreign Account Tax Compliance Act (FATCA) / Automatic Exchange of Information (AEOI) regulations. Analyses the received documents and interacts with the investor, client, intermediary to advise if received KYC documents are acceptable.
• Ensures compliance with and oversight of ongoing statutory regulatory requirements. This responsibility includes monitoring and validation of investor files, technical and documentary support to investor teams, updating of operational procedures and participation in compliance committees.
• Leads the AML/KYC team and organises its operations in terms of resources and development.
• Participate and contribute to 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.
• Participate in specialist communities of practice and contribute positively to own and organisational knowledge improvement.
• Promote teamwork and inclusivity amongst team members and demonstrates behaviours that respect diversity.
• Partner and collaborate with team members to achieve team success.
• Share information and knowledge that benefits the team.
• Manage team delivery against goals in the area of responsibility.
• Manage performance moderation, disciplinary action, recognition and retention processes in line with HR policies and procedures.
• Participate in Talent Management practices and processes in line with HR policies and procedures.
• Implement employment equity plan targets in all recruitment and employee movement activities.
• Manage performance of employees by clearly defining goals and objectives and providing direction, coaching and regular feedback.
• Ensure skills are transferred in specific functions.
• Ensure conflict resolution and respond to any complaints or concerns.
• Set relevant stretch goals for team and motivate achievement.
• Identify training/development needs and pro-actively identify effective solutions to address own and employee development gaps.
• Ensure that each employee prepares a personal development plan, review these plans and ensure implementation.
• Create an environment conducive to cross-functional skills transfer.
• Plan training interventions which support FNB and Group strategies.
• Understand which competencies and skills are required to be mastered to ensure personal and employee development and performance.
• Keep abreast of learning opportunities, changing products and trends.