Senior Compliance Officer

Overall Purpose of the Role:

Responsible for acting as the sole Compliance Officer and Deputy Information Officer while guiding the business and monitoring processes and procedures to ensure that the joint venture complies with all legislation relevant to the joint venture company (JVCO).

Experience Required:

• 5 (five) years practicing as admitted attorney; and / or 5 (five) years in the field of compliance within the financial sector.

• Extensive understanding and working knowledge on relevant compliance requirements applicable to the financial sector, particularly the National Credit Act (NCA), the Financial Advisory and Intermediary Services Act (FAIS) and the Protection of Personal Information Act (POPIA).  

Qualification/s Required:

• Law degree and admitted attorney / advocate of the High Court of South Africa.

• Accredited member of the Compliance Institute of South Africa.

Responsibilities:

• Identification and defining of the legislative universe – impact analysis for new legislation and amendments to existing legislation. Interpreting and scrutinizing each provision for applicability (an analytical assessment of legislative requirements and how it applies to the JVCO).

• Developing Compliance Risk Management Plans for legislation pertinent to various areas of the JVCO. Identifying areas of high, medium and low risk, recommending risk mitigation controls for areas where none exist and revising existing controls if inadequate. Agree action plans with business stakeholders and assist with implementation. 

• Subject matter expert on the National Credit Act, Financial Advisory and Intermediary Services Act, Consumer Protection Act, Protection of Personal Information Act and other relevant legislation. 

• Test and monitor controls after implementation by drawing samples of work performed by the relevant areas of the JVCO and verifying that legislative requirements were adhered to.

• Liaising, compiling and reporting to internal and external stakeholders on the levels of compliance within the JVCO.

• Drafting, updating and maintaining the JVCO’s Compliance Manual. In addition, ensure that the JVCO’s Compliance Manual is in adherence with the latest legislative and industry requirements (pro-active environment scanning).

• The provision of information and staff training to ensure compliance with statutory and/or regulatory requirements.

• Assist the Chief Compliance Officer with the design and implementation of compliance strategy requirements for current and new legislation applicable to the JVCO.

• Assist the Chief Compliance Officer with formulating, implementing and documenting compliance related policies, processes and practices to manage the related risks for the JVCO.

• Evaluate operational risks, as well as identify risks / potential risks and directing them to the appropriate stakeholders within the JVCO.

• Drafting opinions and memoranda on compliance related matters / issues.

• Awareness training and communication to increase the understanding and commitment of staff to the Compliance Function. (Communication will mean, inter alia, the giving of advice and guidance to staff, to contribute to any compliance awareness campaign/drive, to circulate information received from regulators, auditors and legal counsel if and when necessary).

• Bringing any legislative, regulatory or industry changes or developments to the attention of internal stakeholders.

• Build and maintain a positive relationship with Regulators, external and internal Auditors and industry bodies (relevant associations, Payments Association, Compliance Institute, etc.).

• Attend and represent the JVCO at industry body meetings and give feedback to the relevant stakeholders.

• Reporting of non-compliance by the JVCO to the Chief Compliance Officer, the CEO and / or the Board of Directors, as the case may be.

• Acting as Information Officer or Deputy Information Officer and assisting the Information Officer of the JVCO with executing his duties as Information Officer, which include assisting the Business in the creation and implementation of policies in compliance with POPIA and PAIA, providing guidance to the Business on its obligations in terms of POPIA and PAIA to ensure compliance with POPIA and PAIA and conducting compliance monitoring to assess the level of compliance of the JVCO and performing any other duties required of an Information Officer/Deputy Information Officer.

• Any other duties that may be required from time to time.