Senior Regulatory Relations and Compliance

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- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group. Job Summary

Job Purpose

This role reports to the Head of Regulatory Relations within the Absa Financial Services (AFS) Insurance Group.

The role is responsible for compliance advisory and support

The role is further responsible for regulatory and compliance developments and relations for AFS Insurance Group to support the Group’s understanding and adherence to relevant financial sector regulations, laws, and industry guidelines.

Job Description

Job Description Stakeholder Management

The role requires close interaction with senior managers within business, such as Business Unit Compliance Officers (BUCOs), EXCO members and Group Secretariat.

Compliance Advisory and Support

Provision of proactive, real-time guidance and advice on the compliance aspects of transactions and other wider organisational decisions.

Assisting the insurance cluster to formulate, update and implement control procedures and policies that will ensure adequate risk management to enable business; adequately monitoring instances of non-compliance with the company’s policies and procedures and generally establishing a compliance culture and creating an awareness of compliance through interaction with business in industry-related initiatives and establish networks with key role players.

Regulatory Relations and Regulatory Horizon Scanning and Advice

Support the AFS Head of Regulatory Relations through the development of and execution of the regulatory relations programme

Conduct horizon scanning to identify and interpret emerging regulatory requirements.

Evaluate the impact of regulatory changes and support the implementation of necessary updates.

Manage the cluster regulatory universe

Comment on draft regulatory requirements and co-ordinate submissions on proposed regulatory requirements for submission to Absa Group, relevant industry bodies and/or regulatory authorities

Keep Business appraised of regulatory developments and notifications distributed by the regulator impacting the business.

Identify, monitor and escalate to the Head Regulatory Relations on any or potential material risk to business with a regulatory impact.

Forum Participation and Reporting

Actively engage in internal compliance forums and committees, including Group Compliance Committees

Ensure the provision of relevant and accurate information for inclusion in various stakeholder reports, such internal and board committees

Take responsibility for analyzing data and reporting on regulatory relations metrics, as well as overseeing the management of regulatory commitments.

Contribute to the drafting of the regulatory newsletter and/or articles on matters pertaining to local and international regulatory developments

Board Training

Provide support in the development and execution of the Board compliance training programme

Professional / Technical Experience:
Minimum of 5 years proven experience within financial services

Intricate knowledge of financial services prudential and market conduct regulatory frameworks

Advanced level of knowledge of financial sector laws with a focus on Insurance Act and Prudential Standards, FAIS Act, STIA, LTIA, PPRs, etc.)

Previous regulatory relationship management

Experience in compliance advisory that balances the compliance requirements with commercial objectives Collaborating with business colleagues to solution, turning regulatory compliance into an advantage

Experience in developing compliance related policies, risk management plans, assessing and qualifying risks, implementing procedures and controls to mitigate risks, training, monitoring and review.

Excellent Microsoft Office knowledge

Minimum Qualifications

BCom (or similar)/LLB (or similar) or relevant insurance related qualifications

Certificate or Diploma in Compliance Management (advantageous)

Attributes

Ability to work as part of a team

Ability to take initiative and think strategically

Strong organisational and interpersonal skills

Attentive to detail

A sense of urgency and an ability to meet deadlines

Ability to manage multiple tasks effectively and efficiently

Proficient engagement abilities

Assertive, with an ability to manage conflict - clearly understanding and articulating the regulatory, governance and control requirements

Sound understanding of Business’s vision, values, mission and strategy.

Express and implied ethical responsibilities.

Challenge conventional thinking.

Education

Bachelor's Degrees and Advanced Diplomas: Business, Commerce and Management Studies (required)
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_