Business Compliance Officer

Stonehage Fleming; Cape Town; On-site; ZAR 500,000 - 800,000; Full time

Job summary

A leading company in Cape Town is seeking a Compliance Officer to support and advise Relationship Managers on trusts and compliance matters. This role involves close collaboration with various teams, ensuring compliance with regulations, and strengthening relationships with Risk and Compliance departments. The ideal candidate will possess strong communication and risk management skills, with the ability to train staff and manage compliance initiatives effectively.

Qualifications

• Experience in compliance and risk management is crucial.
• Strong communication and training skills required.
• Ability to collaborate with various teams and stakeholders.

Responsibilities

• Assist and advise Relationship Managers on compliance matters.
• Act as the First Line of Defence for compliance issues.
• Conduct periodic risk reviews and monitor exceptions.

Skills

Compliance

Risk Management

Communication

Interpersonal Skills

Education

Bachelor's degree in Finance, Business Administration or a related field

Job description

WORKING RELATIONSHIPS

The position reports to the Head of Global Business Control.

It involves close interaction with members of the Family Office and Corporate Service team, as well as departments such as Accounting, Banking, Investment, Middle Office, and Risk & Compliance.

OVERALL PURPOSE

To assist, support, and advise Relationship Managers on trusts, company administration, and trustees' compliance matters.

As permissible by regulation, to handle all interactions for the 'First Line of Defence' and liaise with Risk and Compliance as needed.

PRINCIPAL ELEMENTS & ACCOUNTABILITIES

1. Collaborate with Relationship Managers, their assistants, and Business Heads to strengthen relationships with Risk and Compliance.
2. Serve as the First Line of Defence for compliance matters, acting as liaison with the Second Line (Risk and Compliance) and occasionally with Audit (Third Line).
3. Review and manage records related to conflicts of interest, breaches, complaints, and operational incidents.
4. Monitor and record exceptions, recommendations, and regulatory issues requiring resolution.
5. Conduct periodic risk reviews (e.g., daily, AML file reviews), seeking additional information and documentation as needed, including KYC / CDD.
6. Report material risk issues to Risk and Compliance and assist in mitigation efforts.
7. Provide training to Relationship Managers and business heads on compliance and AML / CFT matters, supporting staff development.
8. Enhance the technical and compliance skills of Front Office staff to meet current and future business needs.
9. Assist Relationship Managers with AML reviews and Risk Screen checks.
10. Collaborate to ensure proper updating of the New Business Approval Committee and onboarding workflows, including risk assessments and CDD collection.
11. Coordinate with regional BCO regarding cross-border business.
12. Update the database for EDD / SDD applications and PEP / EP connections during onboarding or client lifecycle.
13. Generate reports for regulators and Risk & Compliance upon request.
14. Participate in quarterly Risk & Compliance Committee meetings.
15. Support AML / CFT projects and risk action items.
16. Assist regulatory boards with data collation for jurisdictional data requests.
17. Propose policies, procedures, and workflow improvements; coordinate their implementation with Risk & Compliance and business leaders.
18. Maintain and update the Front Office processes, guidance notes, policies, and procedures.
19. Assess the impact of new laws and regulations, informing relevant stakeholders of changes.
20. Liaise with Group Head BCOs on cross-border AML / CFT issues and process improvements.
21. Attend the monthly Center of Excellence BCO meetings.

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Position: Compliance Officer • Location: Cape Town, Western Cape