Head of Compliance – CIB – Banking

Synopsis

Our client is one of South Africa's large banks, and they require a new Head of Compliance in the Corporate and Investment Banking Division. The role is based in Sandton. This is a managerial role and requires a person with a legal and compliance background for the CIB Division.


Minimum Requirements

• B-degree with Honours in (Law, Commerce, Governance and Compliance and/or Risk Management) (NQF level 8)
• LLB qualification preferred
• 10 years Banking or Compliance experience
• Minimum 8 years management experience

Knowledge & Skills: (Minimum of 6)
• Understands the legislative and regulatory landscape and requirements imposed by the South African regulators, including the South African Reserve Bank, Financial Services Board, the JSE Limited, and Strate Limited.
• Understands international legislative and regulatory requirements impacting South Africa
• Understands the business, including M&A, DCM and ECM products
• Able to analyse, interpret and advise on regulation and legislation
• Engages regulators and industry groups constructively on compliance and regulatory matters
• Understands the core principles of an effective compliance function
• Is able to establish effective compliance frameworks, structures and core processes
• Understands and is able to implement Compliance governance


Role Description

Key Accountabilities
People management
• Lead a highly motivated Compliance function which takes accountability for the regulatory and reputational risks falling within this function.
• Recruit the right people.
• Develop, motivate and manage people. Recognise performance, provide appropriate interventions and opportunities, and address poor performance.
• Set clear objectives and responsibilities for each individual. Measure performance against objectives.
• Encourage direct reports to set challenging objectives as part of the career development process and to ensure effective performance management, development and succession planning.
• Inspire and promote high performance in individuals and in the function.
• Act as a mentor and role model and drive proactive application of the Values throughout the team including establishment of common goals and objectives.
• Equip team to deliver based on a high performance culture
• Provide strategic direction to the team in line with the strategic direction of the Group.
Department Management
• Support Head of CIB Compliance through developing and executing the Compliance strategy, contributing to departmental recruitment and performance management, identifying and remediating departmental issues.
• Provide input to enhance the Compliance methodology.
• Provide input into the department’s risk and control assessment (RCA).
• Share knowledge across the department.
Private Side Advisory
• Drive the right behaviour, specifically adherence to the Values of the bank, in the business through effective standard setting, advice, training, verification, escalation, reporting and engagement.
• Clearly communicate the role and objectives of Compliance to the business.
• Maintain constructive regular engagement with relevant stakeholders, including business, infrastructure and regulators.
• Provide accurate and timely compliance and regulatory advice to the business as a second line of defence.
• Provide relevant Compliance risk information reporting to management.
• Report and escalate policy and regulatory breaches and compliance or regulatory issues to appropriate stakeholders, which may include business management and regulators.
• Maintain a compliance training plan for the business and ensure effective execution of training, including face-to-face and e-learning.
• Implement policies.
• Manage new regulatory requirements by evaluating regulations (local and international) identified as relevant to the business and provide an impact analysis relevant to the business. Address impacts, including policy amendments, business notifications and provision of training.
• Keep Business appraised of notifications distributed by the regulator impacting the business.
Stakeholder Management
• Be the point of entry for interactions with each regulator regarding the business.
• Position and communicate compliance policies, requirements and initiatives with the relevant stakeholders
• Actively drive a stakeholder management plan for all compliance and regulatory matters affecting the business
• Liaise with senior executive stakeholders and stakeholder groups
Risk Management
• Be the accountable key regulatory risk owner for the business
• Perform on-going monitoring of the business through stakeholder engagement, compilation and assessment of management information, and tracking and analysis of issues
• Maintain detailed regulatory risk assessments for the business, identifying all regulations and assessing the regulatory risk
• Maintain and assess regulatory risk MI for the business
• Perform effective monthly verification testing on key regulatory risks of the business
• Review and provide input on the Compliance Risk Review coverage for the business.
• Review the coverage plan, the scope of each review, and conclusions and final report of each review
• Assess the overall testing coverage on regulatory risk for the business and address deficiencies
Governance
• Serve on appropriate risk and governance forums for Compliance
• Report to relevant governance forums with overall conclusions on regulatory risk


City: Sandton

Salary: Market Related depending on Experience

Duration: Full time Permanent Role