Hybrid Compliance Manager – Regulatory and Conduct Risk Management

at Old Mutual Limited

• Job title: Compliance Manager – Regulatory and Conduct Risk Management
• Job type: Full Time
• Experience level: Mid level, Senior
• Salary: Not specified
• Degree requirement: Bachelor's Degree
• Location requirements: Hybrid, Johannesburg, South Africa

About the role

• Compliance Manager focusing on regulatory and conduct risk management at OM Bank. Responsible for establishing compliance functions and supporting regulatory processes.

Responsibilities

• Report into the Head of Regulatory and Conduct Risk Management
• Assists in the establishment of an effective compliance function, framework and core processes for the bank.
• Participates in activities that drive a strong culture of compliance and internal control.
• Assist with the development of key compliance policies and standard operating procedures.
• Provides regulatory and conduct advisory support to business and where necessary, with support from the legal function.
• Assists with regulatory change and commentary processes.
• Supports with the maintenance of the Bank’s Regulatory Universe and the governance in relation to this maintenance.
• Undertakes research initiatives to determine best practice in relation to the management of regulatory and conduct risk management and share insights with stakeholders.
• Collaborates with business in the assessment of compliance risk based on impact and likelihood methodology.
• Collaborates in the identification and recommendation of controls to mitigate regulatory and conduct risk.
• Undertakes compliance assurance activities aimed at testing the efficacy of regulatory and conduct controls implemented in business as second line assurance. This includes the drafting of review reports and engagement with stakeholders in relation to findings and recommendations for remediation.
• Assist with the identification and roll-out of training and educational needs regarding compliance practices and make recommendations and assists with the development of training content with respect to legislative training.
• Assists with regulator and assurance and other audit reviews; and oversees and tracks compliance remediation initiatives executed by business as first line.
• Assist with the production of reports relating to the compliance posture of OM Bank for the various structures within the compliance governance framework including senior management, Executive Committee, Board sub-committees, the Board and regulatory bodies such as the PA, FSCA, SARB.

Requirements

• Minimum of 5-8 years in a similar role in the Financial/Regulatory/Banking sector
• Relevant bachelor’s degree that includes legal, compliance, governance, commerce and/or a senior compliance qualification. (BCOM; BCOM(LAW); LLB)
• CPRAC is recommended but not a pre-requisite.
• RE5 and RE1 a pre-requisite.
• Candidate must meet the competency requirements to be loaded as the FAIS Licence Compliance Officer
• Understands the core principles of an effective compliance function.
• Experience in Compliance environment within banking.
• Have an understanding of and an ability to implement compliance and governance requirements.
• Has detailed knowledge of the legislative and regulatory environment of the financial sector with specific emphasis on banking legislation such as FAIS, Market Conduct, Business Conduct, NCA, CPA.
• Direct exposure to and a keen interest in competitive compliance practices is recommended.
• Word, Excel and PowerPoint skills.
• Excellent report writing skills.

Benefits

• The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa.