Job Summary
To lead the Country Compliance & Legal function providing strategic direction and focus.
Responsible for the implementation and maintenance of a fit-for-purpose” operational framework managed to address all elements, which fall under the scope of Compliance and Legal. Ensuring the effective management of regulatory relationships.
To ensure legal and company secretarial function in country delivers effective control of legal risks and discharges company secretarial functions.
Lead the Compliance team by coordinating all regulatory compliance activities across the Bank, to ensure Senior Stakeholders are presented with an appropriate view and recommended measures that guarantee the permanent compliance of the Bank with all regulations in place and managing any regulatory compliance risks faced.
Also oversees that there is good corporate governance in the bank, ensuring that mandates are appropriately applied, executed and duly documented.
Job Description
Key Accountabilities
Risk & Compliance Management
Time Split: 50%
Establish and implement a consistent operating framework for the identification, management, monitoring and reporting of country Compliance risks and issues.
Responsible for ensuring that the operating framework is embedded consistently in country to meet internal and statuary requirements.
Participate in the development of processes, policies and procedures designed to reduce legal risk and/or increase the efficiency of Absa Africa.
Manage the provision of external support and maintain cost and budgeting discipline in external service purchasing.
Develop and manage collaborative frameworks and Arrangements with business areas and external law firms for the management of legal work capable of commoditization / out-sourcing.
Lead and work closely with direct management team, in proposing and ensuring the delivery of agreed compliance activities
Maintain a leading-edge compliance framework by working closely with People Function, the Africa Compliance leadership team, Global Compliance counterparts and key stakeholders
Accountable Executive for the review, challenge and group-wide deployment of Regulatory Compliance policies and standards
Business Management
Time Split: 20%
Participate in the development and implementation of training for business and support areas and for other members of the legal & compliance function on relevant legal & Compliance risk issues.
Attend business team and relationship management meetings with external legal firms and relevant Compliance Forums & Conferences to enable the role holder to stay abreast of developments in the Regulatory Compliance world.
Proactively forge relationships with a broad range of business areas and third parties in order to encourage the best quality output and service from the team.
Act as key advisor to business unit heads during the review of opportunities for the creation of new business categories, acquisitions, disposals or new joint ventures that will have Group wide impact
Accountable Executive to ensure that regulators are updated on progress relating to the deployment of regulatory initiatives across the Bank.
Build, maintain and implement a robust financial control and governance framework capable of withstanding high levels of internal and external scrutiny (internal Audit, External Audit, various regulators).
Own the financial planning cycle for Legal &Compliance and manage all costs in the Unit.
Advise, Guidance & Reporting
Time Split: 15%
Deliver valued advice and guidance to management on all Compliance issues.
Deliver an appropriate review mechanism to assess reputational risk before it is assumed.
Keep the local management team and ARO (African Regional Office)
Head Compliance and other Executives informed on Compliance matters, which may pose financial or reputational risks for the business.
Be a key role player in the establishment of the Bank’s appetite for compliance and implement a framework of supporting controls.
Actively engage across all business lines within the division in terms of compliance risk through various forums and individual meetings in order to ensure benchmarking and sharing best practices in support of the Bank’s control environment.
People Management
Time Split: 15%
Set challenging and stretching objectives and ensure effective performance management, development and succession planning.
Inspire and drive high performance in individuals and in the team.
Act as a role model and drive proactive application of Absa values throughout the team including establishment of common goals and objectives.
Equip team leaders to deliver a high performance culture.
Partnering with Exco members and their Executive teams in the design and delivery of their respective Compliance and corporate governance agendas
Role Person Specification
Education and Experience Required
Graduate with professional qualification and experience (Legal)
cal/Managerial) experience
Knowledge & Skills: (Maximum of 6)
Good knowledge of regulatory requirements and expectations. Sound application of the international agendas and objectives of international regulators, particularly Financial Services Authority
Qualified Lawyer with strong technical knowledge of or ability to deal with:
General banking law
Litigation and legal disputes (including Alternative Dispute Resolution)
Personal and Corporate Insolvency
Standard Bank Security Documents
Standard/common bank lending documents
Money laundering.
Business of banking: strategic direction, development of products and services, external business and regulatory environment
Business ompetencies: innovation and commercial awareness, ability to contribute to development of business strategy
Technical knowledge of; Data Protection; Advertising regulations; Intellectual property; Receivables financing (factoring); Asset finance; Consumer credit; Bank regulation and compliance; Local regulation of financial services industry; Leasing;
The above arce relevant areas of expertise, post holder may be expected to combine or develop some of them, No one could be a specialist in all.
Significant level of experience at senior level and managing senior stakeholders’ relationships
Competencies: (Maximum of 8 competencies)
Incisive analytical ability to resolve and minimize legal risk issues and new product legal issues
Solid knowledge, understanding and application of Regulatory Compliance
Influencing and negotiating
Autonomous decision making – ability to take major legal decisions and conduct negotiations for and on behalf of the business
Ability to design and conduct technical/up skilling programmes
Good understanding of global standards of best practice and shared changing environment and thrive on change and the need to learn rapidly.
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