Business Compliance Officer

3 weeks ago

Cape Town, South Africa Stonehage Fleming Full time

Description

OVERALL PURPOSES To provide practical assistance, support and advice to the Family Office and Investment Management teams on operational compliance matters and assume full responsibility for all interaction and liaising with Risk and Compliance where required; and To maintain a strong control framework within First line of defence. The role supports the Executive Team; liaises with the second line of defence (Risk and Compliance, or ‘R&C’),and the Middle Office Group (MOG) with ongoing implementation and maintenance of the risk and compliance governance framework. The role manages identified issues through to scaleable, efficient and, where possible, systematised solutions.

REPORTING LINE AND PRINCIPAL LIAISONS

The Senior Associate position reports to the Head of Middle Office in South Africa. The position will also liaise regularly with the front office, R&C, MOG, and supports regional Business Compliance Officers (BCOs). 
Key Responsibilities PRINCIPAL ELEMENTS & ACCOUNTABILITIES

• Based in South Africa, to act as the first line of policy, procedure and process defence. 
• To provide ad hoc support and advice to the regional Business Compliance Officers for the first line of compliance defence. 
• Provide guidance to team members on the collation and review of new and existing client KYC CDD during the establishment of new structures and advise on the reporting of beneficial ownership information.
• Reviewing cases through the new Business Approval Committee process
• Client take on via for example, Business Central and other systems processes. 
• Assist the Executive Team in the clearing of any internal audit, compliance and other track queries and assisting with any remediation work required.
• Record breaches, complaints and incidents, changes to PEP status and assist in maintaining the relevant registers, providing support to the Executive Team to manage / remediate such breaches, complaints and incidents
• Produce timely management information and board reports for board meetings
• Provide system support and input in respect of sanctions screening, transaction monitoring, RiskScreen and internet searches in liaison with R&C and prepare reports for the Executive Team and committees. Coordinate and assist Relationship Managers (‘RMs’) to complete risk reviews.
• Exercise effective oversight of governance to encourage timely and regular completion by RMs of AML risk reviews, scoping AML risk reviews and undertaking preliminary work on those reviews for the review of RMs and senior management and monitor completion of data returns.
• Provide assistance and business technical advice to senior management and any divisional technical forum and follow up on action points arising relevant to the role. 
• Maintain and regularly update the combined risk assessment in liaison with the Director – Risk and head of the business unit as regards suitable controls for relevant mapped legislative and regulatory effects on other risks on the business
• Project manage / undertake assigned remediation and other project work as directed. 
• Provide support for the Executive Team for systems utilised by the Family Office and Investment Management divisions, providing assistance to the team as required with any system issues.
• Act as gatekeeper in respect of any marketing material, supporting the Executive Team to ensure any marketing material is logged in the register, and with approval from second line of defence, complies with relevant legislation and regulation. 
• Attend regular R&C meetings and BCO group meetings where requested.
• Any other relevant duties that may be identified. 

QUALIFICATIONS AND EXPERIENCE

• Sound experience within the Financial Services industry, preferably across the fiduciary and investment management sectors. 
• A well developed knowledge of relevant legislation and regulation.
• Exposure to operational functions would be an advantage. 

SKILLS

• Comprehensive knowledge of relevant regulatory regimes with the ability to fully understand the risk and process implications for the business. 
• Previous exposure to international data protection and privacy laws and regulations. 
• Good I.T. skills. 
• Proven experience of working in a challenging and fast-moving environment, across multiple jurisdictions and with complex products. 
• Good communication and influencing skills.
• Good project management skills. 

COMPETENCIES AND BEHAVIOURS

• Flexible and able to multi-task, setting appropriate priorities and adhering to deadlines. 
• Excellent interpersonal skills with the ability to liaise and collaborate with individuals at all levels, being helpful and co-operative whilst working towards team goals. 
• Confidence to deliver practical governance and compliance solutions balancing risk management and commercial considerations. 
Education LevelDegree or EquivalentExperience LevelMid LevelBenefits

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