SUMMARY:
My client, a global licenced online trading company is looking for a head of compliance for their South African office with industry experience.
POSITION INFO:
The Head of Compliance responsible for monitoring and managing the daily
compliance works for all business activities, ensure to comply with the internal
policies and external regulations
The incumbent, working with our external compliance consultant to ensure
regulatory FAIS and ODP requirements are effectively implemented within
business. This role is to ensure effective monitoring of processes and related
controls in accordance with compliance methodology and minimum standards.
Accountabilities
• Overseeing compliance functions, ensure sufficient resources and
training are in place to successfully discharge the objectives of the
functions
• Monitoring and identifying regulatory developments, including
enforcement actions, new laws, regulations, rules and interpretations or
guidance relating to the business of the firm
• Identifying potential compliance risk and actively advise management to
implement proper compliance program to address any potential
regulatory problems
• Leading and executing a risk-based AML compliance program to ensure
ongoing compliance with statutory and regulatory requirements
• Implementation and oversight of all aspects of AML systems, including
monitoring effectiveness and enhancing the controls and procedures
where necessary
• Serving as the primary point of contact for compliance communications
FAIS
• Monthly FAIS Compliance Meeting
• Monthly Exco Meeting
• Bi-annual Board Meeting
• Maintain competence register
• Keep supervision forms up to date
• CTR and CTA report to FIC
• Check bank accounts daily for cash deposits
• Quarterly SARB reporting
• Review policies: Update and sign off by KI
• Fit & Proper declarations
• Liquidity calculations bi -annual
• BEE certificate – Annual
• FSCA Levies payment
• Professional Indemnity and Fidelity Insurance
• POPIA
ODP
• Weekly meeting regarding compliance, risk
• Monthly meetings: EXCO, IT, Compliance and Risk Committees
• Monthly risk reports and screen shots
• Annual review of 3rd party providers
• Annual IT audit
• Annual supervisory review with FSCA
• Capital adequacy – quarterly
• Monthly report of unconfirmed transactions
• Portfolio compression – bi-annually
• Board meeting and prep – bi-annually
• Review policies and procedures – Annually
Experience & Skills
• Undergraduate degree or above and relevant professional qualifications
in regulatory compliance, banking, risk management, accounting, or
equivalents
• 10+ years of experience in FAIS compliance, including 5+ years of
experience in a decision-making function
• Solid working knowledge of current regulatory issues in South Africa:
Regulatory Legislation and Financial Markets with a focus on Conduct
Standards 1 & 2, FAIS, AML, POPI, FMA, etc.
• Candidate with RE5 Qualification is a must
