- To ensure that the bank implements all aspects of compliance (risk) frameworks, policies and processes.
- Ensure that line management promote an effective compliance culture in discharging their responsibility in complying with the applicable internal standards and policies, statutory, regulatory and supervisory requirements.
- Participate in the bank’s business processes (including new product and project development), meetings, initiatives and committees – to ensure that any compliance requirements are appropriately considered.
- Assist line management in avoiding sanctions relating to market conduct including Know-Your-Customer and Anti-Money Laundering requirements and management of conflicts of interest.
- Set compliance related standards and guide management to comply with applicable regulatory requirements through compliance training or the facilitation thereof.
- Escalate any conflicts between local laws and regulations and Group minimum requirements as contained in policies and standards to SBAF Risk to allow effective resolution of these conflicts.
- Create and maintain the regulatory universe in consultation with the bank’s executive team.
- Interpret and communicate relevant regulatory requirements applicable to the operating divisions and identify potential implications thereof – develop risk management plans in collaboration with the bank’s executive team.
- Maintain an effective compliance manual.
- Escalate breaches and incidents to Management and RoA Compliance while ensuring that appropriate remediating actions are being taken by Management.
- Maintain harmonious relationships between the bank and its regulators.
- Provide monthly and quarterly reports on compliance activities to the Chief Executive, EXCO, Risk Management Committee and Board Risk Committee and RoA Compliance.
- To perform appropriate monitoring activities to provide assurance on the effectiveness of compliance risk management plans and adherence to group compliance standards to RoA Compliance and country management.
- To provide support to the Money Laundering and Control Officer (MLCO).
- To evaluate and manage the performance of the MLCO to achieve a high standard of competence, motivation and service orientation,focusing on development and retention.
Preferred Qualification and Experience
- A Bachelor of Laws Degree (LLB)
- Minimum 3 years experience as a compliance officer.
- Comprehensive understanding of the banking environment.
- Understanding of international best practices in the areas of anti-money laundering, conflicts of interest management is an advantage.