Job Purpose
To support Bank management in the identification and management of compliance risk as required by relevant regulatory, supervisory and statutory regulations/guidelines, applicable codes of conduct and minimum standards.
Update of Compliance Policies and Documentation
Updating the regulatory universe and ensuring the compliance risk management plans (CRMPS) for new laws, regulations and amendments of existing laws and regulations (including other regulatory guidance notes and circulars) are comprehensively completed within 90 days of becoming effective.
To prepare the regulatory universe annually in the last quarter of the year and ensure sign off by business owners.
Ensure in conjunction with executive management, CRMPS are adopted and customized for all relevant risk legislation and regulations on an annual basis.
Ensure compliance policies and manual are reviewed and go through the requisite governance framework in a timely manner.
Draft relevant procedures for the various Compliance Policies.
Responsible for the implementation and adoption of all compliance, anti-money laundering, Anti Bribery and Corruption and sanctions related requirements contained in policies, procedures and processes. This includes the consideration and approval of PEP on-boarding and continued business engagement in instances where no adverse information is available.
Raise awareness and provide training to bank staff on compliance policies and maintain registers of training attended.
Ensure that the policies, procedures, and manuals posted on the Compliance website are upto date.
Regulatory Requirements
Scanning the environment for new regulatory requirements.
Understanding and interpreting new regulatory requirements.
Preparation of implementation action points for new regulatory requirements and advice the bank or specific business areas on the impact of regulatory developments.
Ensure relevant regulatory returns and reports are submitted in a timely manner.
Query and report any issues on non-compliance with policy and regulatory requirements as soon as this is noted.
On a regular basis conduct limited monitoring of business compliance with the relevant laws and regulations especially those deems high risk for the Bank.
Advice on compliance related legislation, regulations, circulars etc. affecting the bank.
Advisory
Respond to queries from business and the Centre in South Africa.
Attending Business forums as required and called upon.
Comprehensive review of high-risk clients and guiding the first line on enhanced due diligence requirements
Training and building capacity within the 1st line on matters compliance.
Ensure that on-boarding Checklist is always updated.
Represent Compliance at relevant forums for new products, service and channels development and provide comprehensive compliance input.
Conduct comprehensive compliance risk assessments for new products, channels, services, partnerships etc.
Represent Compliance at Projects meetings Conduct in liaison with the product manager’s product risk assessment for any new products/technology.
Attend functional meetings both local and regional monthly meetings.
Feedback, Reporting and Escalation
Prepare and provide input for compliance reports to relevant governance forums, ensure such are submitted timely.
Perform ongoing monitoring and assessment of compliance risks within 1st line and ensure risks identified are adequately identified, reported and escalated and provide the 2nd oversight to see through the closure and remediation of identified risks/ gaps.
Safeguard the reputational risk of the bank by ensuring that the business units adhere to policies, procedures, and guidelines.
Qualifications
Minimum Qualifications
Relevant Undergraduate degree
Minimum 5 years of experience in the AML/ CFT and Compliance in the banking industry.
Comprehensive understanding of the regulatory and business environment of the banking industry.
Understanding of business unit needs and ability to translate them into risk management solutions.
On-going awareness of regulatory requirements related to banking
Additional Information
Behavioral Competencies:
Adopting Practical Approaches
Articulating Information
Checking Details
Exploring Possibilities
Generating Ideas
Interacting with People
Interpreting Data
Making Decisions
Providing Insights
Team Working
Thinking Positively
Upholding Standards
Technical Competencies:
Compliance
Financial Industry Regulatory Framework
Legal Compliance
Promote Good Governance, Risk & Control
Risk Management
Strategic Planning and Reporting
Apply via :
www.standardbank.com
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