Regulatory and Compliance Manager

Watershed Consulting; Johannesburg; On-site; ZAR 60 000 - 100 000; Full time

Job summary

An established industry player is seeking a Regulatory Compliance Manager to ensure adherence to regulatory standards within the banking sector. This pivotal role involves guiding compliance practices, implementing frameworks, and conducting training. The ideal candidate will possess strong analytical skills and a deep understanding of compliance regulations, including FIC Act and POPI. Join a forward-thinking organization where your expertise will uphold the bank's reputation and operational integrity in a dynamic regulatory landscape. If you're passionate about compliance and eager to make a significant impact, this opportunity is for you.

Qualifications

• 5-7 years’ experience in compliance or regulatory role within banking.
• LLB qualification and additional compliance certifications required.

Responsibilities

• Provide regulatory guidance on compliance requirements.
• Conduct compliance training and monitor compliance programs.
• Develop Compliance Risk Management Plans to mitigate risks.

Skills

Compliance

Banking

Detail-oriented

Regulatory Reporting

FICA

FAIS

EDD

Education

LLB qualification

Compliance-related certifications

Job description

Job Title: Regulatory and Compliance Manager

Job Summary

The Regulatory Compliance Manager will play a pivotal role in ensuring that the bank adheres to regulatory standards by guiding, advising, and monitoring compliance practices across departments. The role is responsible for implementing effective compliance frameworks and strategies, conducting thorough training and testing, and ensuring compliance with legislative requirements. The Regulatory Compliance Manager will work closely with management and other stakeholders to uphold the bank's reputation and operational integrity within the regulatory landscape.

Experience and Qualifications

5-7 years’ experience in a compliance or regulatory role within the banking sector

LLB qualification (or equivalent) and additional compliance-related certifications

Extensive knowledge of FIC Act, POPI, FAIS, GDPR, EXCON Regulations, and other regulatory standards affecting banking operations

Key Responsibilities

Advisory and Guidance:
Provide regulatory guidance and advice to Business and management teams on compliance requirements, specifically for laws such as POPI, FAIS, TCF, FIC Act, FATCA, CRS, and EXCON Regulations.

Policy and Procedure Updates:
Regularly update Policy & Procedure Manuals to reflect changes in key legislation and operational standards impacting the bank.

Regulatory Compliance:
Ensure the bank’s alignment with FAIS Act, TCF standards, Codes of Conduct, Fit and Proper requirements, and other conduct standards through structured compliance programs and support.

Training and Development:
Conduct compliance training per the compliance training plan, ensuring training materials reflect current regulatory changes and policy updates.

Monitoring and Testing:
Perform compliance monitoring and testing; provide actionable recommendations and develop corrective action plans to address identified issues.

Compliance Risk Management:
Develop and maintain Compliance Risk Management Plans to mitigate risk and ensure organizational preparedness.

Reporting and Documentation:
Assist in submitting reports to SARS for FATCA and CRS, including new reporting implementations. Compile quarterly reports for Group and Audit Committee and update the Legislative Risk Matrix annually for the BoD.

Enhanced Due Diligence (EDD):
Oversee re-KYC and EDD processes for customers, ensuring compliance with enhanced customer due diligence standards.

Strategic Planning:
Develop and propose the annual Compliance Activity Plan for BoD approval, outlining compliance activities and priorities.

New Product Development:
Provide guidance on compliance considerations in the development of new products and delivery channels to ensure adherence to regulatory standards.

Skills and Competencies

Strong understanding of compliance frameworks and regulatory standards

Excellent analytical and problem-solving abilities

Exceptional communication skills for advising cross-functional teams

Proactive and detail-oriented, with the ability to manage multiple priorities

Skilled in training facilitation and compliance monitoring

Reports to: Head of Compliance

Desired Skills:

• Compliance
• Banking
• Detail-oriented
• regulatory reporting
• FICA
• FAIS
• EDD