Compliance Officer at Standard Bank Group

Job description

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.

Key Responsibilities/Accountabilities

• Implement a risk-based compliance monitoring programme from the Compliance Risk Management Plans.
• Prepare and/or enhance compliance obligation checklists and Self-Assessments of regulatory, legislative, AML and compliance policies in conjunction with the respective business functions.
• Review and maintain comprehensive compliance self assessment attestations from branches and departmental functions on a quarterly basis.
• Conduct off-site and onsite reviews to ensure compliance risk management controls are being adhered to.
• Prepare working papers for the onsite assessments to be conducted on branches and departments.
• Monitor and track closure of exceptions/ lapses raised from the Compliance Self-Assessment attestations.
• Co-ordinate the implementation of corrective measures to mitigate identified deficiencies.
• Identify and assess the compliance and internal control risks and gaps associated with the bank’s activities.
• Entrench AML policies and ensure that appropriate AML procedures are implemented effectively by the bank including customer acceptance policy, customer due diligence, record keeping and on-going monitoring
• Work with business functions to ensure potential risks have been mitigated in the bank’s proposed future business activities.
• Advice on compliance related legislation affecting the bank.
• Make recommendations for the amendment of policies, procedures, and processes where necessary.
• Review the bank’s compliance policy on an annual basis to ensure completeness and consistency with current and prospective organizational responsibilities.
• Conduct targeted reviews to assess compliance with internal policies, procedures and processes.
• Provide compliance risk reports on completion of reviews to all functional heads.
• Monitor and track closure of management actions by regulators and external auditors and ensure management response.
• Monitor the Bank’s risk status periodically and report to Board Audit and Risk Committee on a quarterly basis
• Provide input for compliance reports to RMC, EXCO and Board committees, ensure such are submitted timely.
• Raise awareness and provide training to bank staff on compliance policies
• Training
• Conduct continuous risk management awareness training to all staff to ensure staff are aware of risks relevant to their functional roles.

Preferred Qualification And Experience

• Bachelor's degree in business administration or equivalent;
• Minimum 4 years of experience in the AML/ CFT and Compliance in the banking industry;

Knowledge/Technical Skills/Expertise

• 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