Regulatory Compliance Specialist

Discovery Limited; Gauteng; On-site; ZAR 500 000 - 700 000; Full time

Job summary

A financial services company in Gauteng seeks a Regulatory Compliance Specialist to develop and oversee compliance strategies. You will ensure adherence to regulatory standards, provide guidance, and implement compliance frameworks. The ideal candidate has 5-7 years of experience in compliance, a legal or compliance qualification, and a deep understanding of the South African banking sector's legislative requirements. This role emphasizes the importance of excellent governance and problem-solving in a supportive environment.

Qualifications

• At least 5-7 years of compliance experience in the financial services industry.
• Retail banking experience preferred.

Responsibilities

• Provide compliance advice and guidance to business and key stakeholders.
• Initiate development of key compliance policies and procedures.
• Ensure compliance with industry regulatory standards.
• Compile compliance reports for management.
• Assist with regulatory change and commentary processes.

Skills

Compliance governance

Regulatory requirements knowledge

Legislative environment knowledge

Microsoft Word proficiency

Microsoft Excel proficiency

Microsoft PowerPoint proficiency

Education

Legal degree

Bachelor's degree

Compliance qualification

Job description

Business Unit: Discovery Bank

Function: Banking

About Discovery

Discovery's core purpose is to make people healthier and to enhance and protect their lives.

We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery.

Our fast-paced and dynamic environment enables smart, self-driven people to be their best.

As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Bank

Discovery Bank is a bank like no other – a shared-value bank, designed with our clients in mind.

We're all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards.

Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well.

If you're adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that's safe and nurturing.

Job Purpose

The Regulatory Compliance Specialist develops, implements, and oversees the regulatory compliance strategies of the bank.

They assist in establishing an effective compliance function, framework, and core processes for the bank.

Areas of Responsibility

• Provide compliance advice and guidance to business and key stakeholders.
• Initiate and assist in the development of key compliance policies and standard operating procedures.
• Ensure these policies and procedures are consistent with the approvals of various boards.
• Identify and assist with training and educational needs regarding compliance practices; make recommendations and develop training content.
• Ensure compliance with industry regulatory standards and represent the bank at various industry forums.
• Implement core compliance principles, frameworks, processes, systems, and platforms.
• Implement Compliance Risk Management Framework, review the regulatory universe and the implementation of compliance risk management plans and control gap analysis.
• Compile and assist with compliance reports for management and relevant bank committees.
• Maintain a strong grasp of Market Conduct, Reputational Risk, and Regulatory Affairs principles.
• Assist with regulator and audit reviews and oversee compliance actions.
• Assist with regulatory change and commentary processes in Discovery Bank.
• Lead new business initiatives, regulatory impact assessments, and update terms and conditions and related communication platforms.

Skills

Required

• Excellent understanding and ability to implement compliance governance.
• Excellent understanding of legislative and regulatory requirements impacting the South African banking sector.
• Deep knowledge of the legislative and regulatory environment and reporting requirements imposed by South African regulators (SARB, FSCA, NCR), specifically, but not limited to, the Banks Act, FAIS, NCA, CPA and Conduct Standards for Banks.

Preferred

• Proficiency in Microsoft Word, Excel, and PowerPoint.

Qualifications

Required

• A legal degree, a bachelor's degree and/or a compliance qualification.
• RE1, RE5 and/or admitted attorney.
• Leadership skills and a strong, honest work ethic.

Work Experience

Required

• At least 5–7 years of compliance experience in the financial services industry.

Preferred

• Retail banking experience.

EMPLOYMENT EQUITY

The company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process.

As an equal opportunities employer, we actively encourage and welcome people with various disabilities to apply.