Head of Compliance

Charm Recruit; Cape Town; On-site; ZAR 500,000 - 600,000; Full time

Job summary

A global licensed online trading company is seeking a Head of Compliance for their South African office. This role requires overseeing monitoring and managing compliance activities, ensuring adherence to regulations, and a strong background in FAIS compliance. Candidates should hold an undergraduate degree and have over 10 years of relevant experience. The position also necessitates participation in various compliance meetings and maintaining compliance communications.

Qualifications

• 10+ years of experience in FAIS compliance, including at least 5 years in a decision-making role.
• Strong knowledge of current South African regulatory issues including FAIS, AML, POPIA.
• RE5 qualification is mandatory.

Responsibilities

• Monitor and manage daily compliance activities for all business operations.
• Lead and execute risk-based AML compliance program.
• Identify potential compliance risks and advise management.

Skills

Regulatory compliance

Risk management

Knowledge of South African regulatory issues

Education

Undergraduate degree or higher with relevant professional qualifications

Job description

SUMMARY :

My client, a global licensed online trading company, is looking for a Head of Compliance for their South African office with industry experience.

POSITION INFO :

The Head of Compliance is responsible for monitoring and managing the daily compliance activities for all business operations, ensuring adherence to internal policies and external regulations.

This role involves working with external compliance consultants to ensure effective implementation of regulatory FAIS and ODP requirements. The incumbent will monitor processes and controls in line with compliance methodology and standards.

Accountabilities

• Oversee compliance functions, ensuring sufficient resources and training are in place to meet objectives.
• Monitor and identify regulatory developments, including enforcement actions, new laws, regulations, and guidance relevant to the business.
• Identify potential compliance risks and advise management on implementing proper programs to address regulatory issues.
• Lead and execute a risk-based AML compliance program to ensure ongoing statutory and regulatory compliance.
• Implement and oversee AML systems, monitoring their effectiveness and enhancing controls as necessary.
• Serve as the primary contact for compliance communications.
• Attend and prepare for monthly FAIS Compliance, Exco, and bi-annual Board meetings.
• Maintain competence register and supervision forms, and ensure timely reporting to FIC and SARB.
• Review and update policies, declarations, and perform periodic risk assessments and audits.
• Ensure compliance with POPIA, FSCA levies, and other regulatory requirements.
• Participate in weekly and monthly compliance, risk, and committee meetings, and prepare reports.
• Conduct annual reviews of third-party providers and IT audits.
• Review policies and procedures annually and ensure capital adequacy and other financial reports are up to date.

Experience & Skills

• Undergraduate degree or higher with relevant professional qualifications in regulatory compliance, risk management, or equivalents.
• 10+ years of experience in FAIS compliance, including at least 5 years in a decision-making role.
• Strong knowledge of current South African regulatory issues, including Conduct Standards 1 & 2, FAIS, AML, POPIA, FMA, etc.
• RE5 qualification is mandatory.