Empowering Africa’s tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
Assisting the Head of Compliance: Transactional Banking and ARO CIB Compliance to formulate, update and implement policies and control procedures that will ensure adequate compliance risk management to enable the business specifically, Absa Investor Services and Trade and Working Capital; setting common standards, assessing adherence to standards, providing training and guidance, monitoring the business and providing advice.
This requires being at the heart of the business, whilst being independent of the business as a second line of defence, being proactive in anticipating and addressing risks, driving adherence to the Values of the Bank, and being a role model for Compliance across the industry.
Job Description
Compliance Advisory
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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.
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Clearly communicate the role and objectives of Compliance to the business.
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Maintain constructive regular engagement with relevant stakeholders, including business, support functions and regulators.
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Provide accurate and timely compliance and regulatory advice to the business as a second line of defence.
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Provide relevant Compliance risk information reporting to management.
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Report and escalate policy and regulatory breaches and compliance or regulatory issues to appropriate stakeholders, which may include business management and regulators.
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Maintain a compliance training plan for the business and ensure effective execution of training, including face-to-face and e-learning.
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Implement policies.
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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.
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Keep Business appraised of notifications distributed by the regulator impacting the business.
Stakeholder Management
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Position and communicate compliance policies, requirements and initiatives with the relevant stakeholders
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Actively drive a stakeholder management plan for all compliance and regulatory matters affecting the business
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Liaise with senior executive stakeholders and stakeholder groups
Risk Management
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Perform on-going monitoring of the business through stakeholder engagement, compilation and assessment of management information, and tracking and analysis of issues.
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Maintain detailed regulatory risk assessments for the business, identifying all regulations and assessing the regulatory risk.
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Maintain and assess regulatory risk MI for the business.
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Perform effective verification testing on key regulatory risks of the business.
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Review and provide input on the Compliance Risk Review coverage for the business.
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Review the coverage plan, the scope of each review, and conclusions and final report of each review.
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Assess the overall testing coverage on regulatory risk for the business and address deficiencies.
Governance
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Serve on appropriate risk and governance forums for Compliance as delegated by the Head of Compliance
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Report to relevant governance forums with overall conclusions on Compliance risk.
Education and Experience Required:
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Bachelor`s Degrees and/or Advanced Diplomas: Business, Commerce, Law and/or Management Studies (Required)
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Strate Compliance Officer Exams (Required)
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Compliance advisory experience dealing with First Line functions (Preferred)
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Experience within Payments and/or Trade and Working Capital Product (Advantageous)
Knowledge & Skills:
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Understands the legislative and regulatory landscape and requirements imposed by relevant regulators
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Able to analyse, interpret and advise on regulation and legislation.
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Engages regulators and industry groups constructively on compliance and regulatory matters.
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Understands the core principles of an effective compliance function.
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Able to establish effective compliance frameworks, structures and core processes.
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Understands and is able to implement Compliance governance.
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
