Business Control Officer

Stonehage Fleming; Cape Town; On-site; ZAR 300,000 - 400,000; Full time

Job summary

An established industry player is seeking a skilled compliance officer to support Relationship Managers in navigating complex compliance matters. This role involves acting as the First Line of Defence, ensuring adherence to regulations while fostering strong relationships with various teams. The ideal candidate will have substantial experience in the finance industry, particularly within the fiduciary sector, and possess excellent interpersonal skills. If you thrive in a dynamic environment and are passionate about compliance, this opportunity offers a chance to make a significant impact in a supportive and collaborative setting.

Qualifications

• Minimum 5 years experience in finance industry, preferably fiduciary sector.
• Professional qualification in legal and compliance matters is advantageous.

Responsibilities

• Support Relationship Managers with compliance-related matters.
• Act as the First Line of Defence for compliance issues.
• Conduct client risk reviews and manage regulatory matters.

Skills

English proficiency

Confidentiality

Finance industry experience

Legal and compliance qualification

Interpersonal skills

Multi-tasking

Microsoft Office (Word, Excel)

Compliance advice delivery

Experience in fast-moving environments

Education

Professional qualification in legal and compliance matters

Tools

Microsoft Office

Job description

WORKING RELATIONSHIPS

The position reports to the Head of Global Business Control. This role involves close and regular interaction with all members of the Family Office and Corporate Service team, Accounting, Banking, Investment, Middle Office, and Risk & Compliance.

OVERALL PURPOSE

To provide practical assistance, support, and advice to Relationship Managers associated with trusts, companies administration, and trustees on compliance-related matters and, as far as permissible by regulation, assume the responsibility for all interaction for ‘First Line of Defence’ and for liaison with Risk and Compliance where required.

Key Responsibilities

PRINCIPAL ELEMENTS & ACCOUNTABILITIES

1. Working with Relationship Managers, Relationship Manager assistants, and Business Heads to build and strengthen the relationship with Risk and Compliance.
2. In respect of compliance matters, to act as the First Line of Defence for the Relationship Managers and Business Heads and as their liaison with the Second Line of Defence, i.e., Risk and Compliance and occasionally with Audit on the Third Line of Defence. This includes client risk reviews, such as:
   
   1. Review and manage any records relating to conflicts of interest, breaches, complaints, and operational incidents.
   2. Record and monitor exceptions, recommendations, and any other regulatory matters requiring resolution.
   3. Prepare new (i.e., 120 days review) / existing (i.e., AML file review) periodic risk review and approve where required. This includes seeking additional information and documentation when not provided, obtaining KYC/CDD.
   4. Report any material risk matters to Risk and Compliance and assist in addressing and mitigating.
   5. Provide effective training/refresher training to Relationship Managers and business heads on compliance and AML/CFT matters, and assist with new employee inductions and ongoing staff development.
   6. Review and develop the technical and compliance skills of the Front Office employees to ensure they meet both the current needs and future of the business.
3. Assist the Relationship Manager through their AML review and performing the Risk Screen pro checks.
4. Work in collaboration with the Relationship Manager to ensure that the New Business Approval Committee and the onboarding workflows are correctly updated, profile properly captured, risk assessment conducted, and proper CDD collected. Coordinate with regional BCO in respect of cross-border business.
5. Ensure that the Database is updated where any EDD/SDD is applied or if any PEP/EP connection is identified at the time of onboarding or during the lifecycle of the client. Being able to extract any report on these items upon request by the Regulator and/or Risk & Compliance.
6. Attend quarterly jurisdictional Risk & Compliance Committee meeting.
7. Assist on AML / CFT project / Risk action items. Support the relevant regulatory board(s) in the collation of all data required in relation to the submission of information for the purposes of jurisdictional regulatory data requests.
8. Suggest relevant policies and procedures and workflow solutions & coordinate with Risk & Compliance to implement relevant policies and procedures and workflow solutions, and changes to them, in liaison with business and operational heads.
9. Maintain and streamline the Front Office section of the Hub, ensuring all processes, guidance notes, and policies and procedures are available and kept updated.
10. Consider the business impacts of new and future laws, regulations, and compliance and other risks and their impacts on the current policies, procedures, and processes. Inform relevant business heads and operation heads of such changes.
11. Liaise with Group Head BCO’s in any cross-border AML/CFT issues / suggestions for improvement to Group AML/CFT processes.
12. Attend the monthly Center of Excellence BCO meeting.

QUALIFICATIONS AND EXPERIENCE
Sound experience within the Financial Services Industry and in particular across the fiduciary sector. A reasonably well-developed knowledge of relevant legislation and regulation would be an advantage. Exposure to operational functions would be an advantage and an ability to communicate well with people, and speak/write the English language.

SKILLS

1. High level of English.
2. Ability to keep confidentiality with regard to client matters.
3. At least 5 years of experience in the finance industry.
4. Professional qualification in respect of legal and compliance matters.
5. Excellent interpersonal and influencing skills and an ability to liaise and collaborate with individuals at all levels, being helpful and co-operative whilst working towards team goals.
6. Flexible and able to multi-task, setting appropriate priorities and adhering to deadlines.
7. Advanced Microsoft Office skills (Word and Excel).
8. Confidence to deliver practical compliance advice balancing risk management and commercial considerations.
9. Proven experience of working in a challenging and fast-moving environment, preferably across multiple jurisdictions and with complex products.