CORE PURPOSE OF THE JOB
To manage the regulatory and reputational risk at the Bank ensuring that the Bank is complying with all legislations, regulations and Codes of Conduct.
MAIN FUNCTIONS OF THE JOB
Regulatory Risk
• Assists in ensuring Compliance with current laws, regulations, guidance note and supervisory
requirements or provisions
• Assists in ensuring that the Bank is not subjected to prosecution, levied with fines or its licence affected in anyway
• Assists in preparing a Compliance functional plan for the following year for approval by the Audit
Committee
• Assists in reporting on progress of the Compliance functional plan for the following year
• Assists in prioritising legislation to be analysed for the year
• Assists in analysing legislation pertaining to Banking by preparing Risk Management plans and Action plans for each prioritised legislation
• Informs management on legislative updates through legal alerts
• Assists in preparation of presentations for staff and regulators
• Assists in submitting returns to regulators including to FIC, SARB, FSCA and FSB
• Assists in preparing policies and procedures for relevant legislation
• Assists in maintaining and annually updating compliance manual
Monitoring
• Assists in monitoring legislative updates
• Monitors for non-compliance and maintains records of monitoring for Audit purposes
• Assists in advising management and Board of non-compliance with legislation
• Queries non-compliance with staff and management and assists in suggesting corrective measures including disciplinary action where necessary
• Monitors submission of Branch Administration (BA) returns to the SARB Maintaining, updating of FAIS register and attending to register and de-register FAIS representatives and Key Individuals
Reputational Risk
• Assists in managing any negative publicity that could result in a run on the Bank or have other adverse consequences
• Monitors customer complaints and any threatened or actual events that could result in a reputational risk to the bank
• Assists in informing management and directors of such events
• Assists in developing relationships with community organisations
Training
• Trains staff and Directors on legislation generally
• Provides intensive training to staff on important legislation such as Financial Intelligent Centre Act (FICA) and Financial Advisory and Intermediary Services Act (FAIS), etcetera
General
• Researching and investigating any general/specific area of law, for purposes of furnishing a legal
opinion, determining applicability, general enquiry or interest
• Preparing summaries and reports of new legislation, regulations, supervisory codes or codes of good practice, when required
• Doing general secretarial work including typing.
QUALIFICATIONS
• A BCom/ LLB/ Similar relevant degree will be required in order to meet the requirements of the role at the highest level of competence.
• A Certificate in Compliance Management from a tertiary institution will be an added advantage.
PREFERRED EXPERIENCE
• A minimum of 4-5 years Legal or Commercial and/or Accounting experience
• 3 years Banking and experience within a Compliance department would be an advantage
KNOWLEDGE
• Microsoft Office
• Equation
• Knowledge of Legal Compliance and the Risks inherent in non-compliance
• Legislation affecting the Bank
• Compliance processes and procedures
• Knowledge on the Bank’s policies and procedures
Al Baraka Bank is an Equal Opportunity Employer. Applicants from the previously disadvantaged groups and people with disabilities will be given preference.