Compliance Specialist - EE - (Cape Town)

SUMMARY:
Seeking a Compliance specialist with a Legal/Commerce Degree and Compliance qualification (PG Diploma in Compliance Management) for an EE position with a large corporate in Cape Town.

POSITION INFO:

RESPONSIBILITIES

• Responsible for implementing and enforcing the organisation''s or business units'' compliance program.
• Maintain awareness of regulatory framework and specific obligations within Financial Advisory and Intermediary Services (FAIS) Act, code of conduct, and requirements.
• Consult on an on-going basis with operational managers to ensure conformance with applicable laws and regulations covering diverse fields.
• Manage, oversee and monitor Financial Advisory and Intermediary Services (FAIS) compliance to ensure that representatives comply with all financial soundness requirements, Licence conditions and annual levies.
• Perform statistical sampling and monitoring.
• Maintain register of representatives and inform 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.
• Analyze the received documents and interact with the investor, client, intermediary to advise if received KYC documents are acceptable.
• Ensure 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.
• Lead the AML/KYC team and organise its operations in terms of resources and development.

Core Tasks

• 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.
• Executing the monitoring plans and compiling monitoring reports on the results of monitoring.
• Compiling compliance risk reports for the particular business unit(s), incorporating findings and remedial actions.
• 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.
• Participate in workshops and projects aimed at facilitating an understanding regulatory measures in development, collecting business feedback on draft regulatory measures or implementation of new regulatory measures.
• Assist with the promotion of a culture of compliance and awareness within Group Life and Savings by actively participating in compliance projects and training initiatives.
• Provide training on regulatory requirements to channels.

Requirements

Qualifications

• Legal or Commercial degree.
• Compliance qualification (PG Diploma in Compliance Management) is advantageous.
• Meeting the competence, qualifications and experience requirements to be registered as a Compliance Officer with the Financial Sector Conduct Authority will be advantageous.

Experience & Knowledge

• 3-6 years’ experience as a Compliance Officer in the Financial Services Industry.
• Knowledge of the financial services industry, especially Insurance.
• Knowledge of Financial products sold in a Broker environment e.g. long-term insurance, collective investments, retirement provision, wrapped/ structured investments and short-term insurance.
• A thorough understanding and knowledge of Compliance Risk management and monitoring programmes.
• A thorough understanding and knowledge of the regulatory requirements impacting on the various businesses (e.g. FAIS, FICA, LTIA, PPR, POPIA) will be advantageous.

Knowledge And Skills

• Compliance and legal projects management
• Compliance advice and training
• Documentation reviews
• Risk Management
• Compliance monitoring and reporting

Competencies

• Business insight - Contributing through others
• Manages complexity - Contributing through others
• Persuades - Contributing through others
• Builds networks - Contributing through others

NB! This job is now closed. You can apply for other jobs by uploading your CV.