Specialist, Compliance Monitoring

Company Description

Standard Bank Group is a leading Africa-focused financial services group, and an innovative player on the global stage, that offers a variety of career-enhancing opportunities – plus the chance to work alongside some of the sector’s most talented, motivated professionals. Our clients range from individuals, to businesses of all sizes, high net worth families and large multinational corporates and institutions. We’re passionate about creating growth in Africa. Bringing true, meaningful value to our clients and the communities we serve and creating a real sense of purpose for you.

Job Description

To complete high quality reviews from planning to reporting and contribute to the global implementation of the Group Compliance Monitoring methodology and processes to ensure the Standard Bank Group and all legal entities are conducting business in accordance with relevant regulations, applicable codes of conduct and within best business practice and drive the development and implementation of a combined assurance approach across all Compliance Assurance Functions.

Risk, Regulatory, Prudential & Compliance

Remain proficient and knowledgeable of best practice in the specialist field or focus area of your function, and provide the necessary recommendations for adaptation and improvement.

Participate in effective governance structures in order to meet the requirements imposed by governmental bodies, regulators, industry mandates or internal policies.

Implement the annual risk based Compliance monitoring plan which strategically covers key Compliance risk exposures across the Standard Bank Group (SBG) in line with the Group Compliance Monitoring Methodology.

Report on the progress of remediation programmes ensuring adherence to regulatory requirements and that sustainable solutions are developed and implemented.

Take ownership for reporting issues raised during reviews to ensure effective resolution of issues within agreed timeframes.

Execute the Compliance Reviews to ensure monitoring reviews are strategic, thematic and structural to deliver the required level of assurance within the agreed timelines.

Monitor and control monitoring reports, committee meeting submissions and the issue tracker to ensure the information is accurate, valid and supported by factual evidence.

Execute Group Compliance Monitoring processes, as per the approved minimum standards, across the Standard Bank Group to ensure compliance with applicable laws and regulations.

Stay abreast of relevant trends and typologies in order to utilise this information to inform the Group Compliance Monitoring Framework, to create awareness around new modus operandi and to identify potential risks.

Provide specialised advice, to executives and appointed representatives on all minimum standards, strategies, projects, plans, initiatives, reporting and other relevant activities to ensure all business areas effectively comply with the required internal standards and legislative requirements. Provide guidance to management on developing remediation programmes that ensures adherence to regulatory requirements.

Monitor compliance with laws and regulations in order to facilitate the establishment of a compliance culture that contributes to prudent risk management.

Be flexible, solutions-driven and focused on risk mitigation instead of insisting on outdated agreed actions that do not adequately address the risk of non-compliance.

Provide timely communication on the results of monitoring reviews to Business Units, appropriate Subject Matter Experts and Business Compliance Officers as and when the identified gaps are confirmed instead of raising these at later stages of the review

Strategy

Contribute to the development of risk-based Compliance Monitoring Plans to ensure coverage of key compliance risks across the Standard Bank Group.

Deliver high quality reports regarding compliance risks that have been identified through compliance monitoring reviews and provide recommendations on sustainable remediation programmes.

Escalate significant compliance risks to the Head, Group Compliance Monitoring in order to report significant compliance risks identified through compliance monitoring reviews to Governance Committees, Group Compliance and Africa Regions Governance Forums.

Contribute to and inculcate conscientious leadership practices, promoting Compliance Monitoring as a meaningful value and building Compliance Monitoring into a strength across the Standard Bank Group. Apply the knowledge of the regulatory environment and Business Units to enhance awareness of regulatory obligations through the performance of quality monitoring reviews.

Technology & Architecture

Contribute in the setting of the Group Compliance Monitoring CoE's technology plan. Provide domain expertise to develop the relevant technological requirements. Adhere to and implement the relevant technology standards developed by the IT Function.

Drive the automation of Compliance Monitoring processes by working with the Group Compliance Monitoring data analytics team to automate and simplify the compliance monitoring and review processes for the GCM, Business Compliance Officer (BCO) and other monitoring functions.

Client

Provide expert advice and guidance to stakeholders and clients (Trusted Adviser) on WHAT and WHY based on the results of monitoring reviews conducted.

Provide guidance to management on developing remediation programmes that ensures adherence to regulatory requirements.

Provide effective training, direction and awareness to enhance the knowledge of the Business and applicable regulatory requirements on a continuous basis.

Data

Monitor and control record-keeping of all review documentation in the relevant SharePoint folders in line with the Group Compliance Monitoring Data Handling Procedures.

Full adoption and application of data analytical techniques and tools (including but not limited to ACL, SAS, Excel, Power BI) to ensure full population or larger sample-based testing on reviews.

Advise on the collection, capturing & maintenance of data to ensure the information is reliable and therefore will effectively guide critical business decisions.

Deliver holistically on all the regulatory and internal reporting requirements. Produce aggregated and reliable reports and formulate pertinent observations and recommendations to enable the effectiveness of critical business decisions and reporting.

Financial Management

Monitor spending or costs against the agreed budgets and identify areas for improvement to ensure the Function remains cost-effective and efficient.

People

Demonstrate collaboration with team members within Group Compliance Monitoring, Subject Matter Experts, and the wider Group Compliance community during reviews and other assigned tasks.

Be deliberate about building and maintaining meaningful relationships with key stakeholders, such as Group Internal Audit, Compliance, Business and other Assurance providers) in order to contribute effectively to the execution of reviews and enhance knowledge and understanding of the Business.

Qualifications

• Type of Qualification: First Degree
• Field of Study: Audit
• Type of Qualification: First Degree
• Field of Study: Legal

Experience Required
Compliance Risk Management
Compliance
3-4 years
Experience in compliance monitoring, auditing or risk management within a financial services organisation or one of the big four auditing forms. Experience in leading a team of Risk and Compliance specialist and working with business unit Heads to deliver on risk mitigation

3-4 years
Overall experience in the Corporate and Investment Banking sector with an understanding of the how the business and products are structures and operate

Additional Information

Behavioural Competencies:

• Adopting Practical Approaches
• Articulating Information
• Checking Things
• Exploring Possibilities
• Generating Ideas
• Interacting with People
• Interpreting Data
• Making Decisions
• Providing Insights
• Team Working
• Thinking Positively
• Upholding Standards

Technical Competencies:

• Compliance
• Financial Industry Regulatory Framework
• Legal Compliance
• Promote Good Governance, Risk & Control
• Risk Management
• Strategic Planning and Reporting