Head of Risk and Compliance

Role Description

The Risk and Compliance function is essential for enabling FNZ Group to safely achieve its strategic objectives and protect value; to support the growth and delivery of services and propositions to the quality our clients and regulators expect.

This role is part of the second line of defense (2LOD) and is crucial in shaping the company’s risk and compliance framework. The Head of Risk and Compliance will lead a dedicated team, providing valuable insights, oversight, and constructive challenges on all risk and compliance matters.

This leadership position is responsible for developing and implementing a risk and compliance strategy that aligns with the organization's goals. It ensures effective risk management while maintaining compliance with relevant regulations. Additionally, the role involves leading the South African Risk and Compliance team to foster a culture of risk awareness, accountability, and continuous improvement throughout the business.

The Head of Risk and Compliance – South Africa liaises with internal and external stakeholders, including regulatory bodies, auditors, and senior management, providing guidance and advice on compliance-related matters to support business initiatives. Regular reporting to senior management and the board on risk and compliance matters is required, ensuring that significant risks and compliance issues are communicated clearly and effectively.

Specific Role Responsibilities

Core Responsibilities.

• Leadership: Leading and developing a team of compliance and risk management professionals. 
• Risk Framework Development: Design, implement, and maintain a comprehensive risk management framework, ensuring alignment with regulatory requirements and industry best practices.
• Three Lines of Defence Model: Collaborate with FNZ senior management, boards, and committees to implement and maintain a robust three lines of defence model, ensuring effective first line of defence risk management capabilities.
• Global Risk and Controls Framework: Manage the implementation and embedding of policies and procedures within the Global Risk and Controls Framework for the region.
• Risk Assessments: Conducting regular risk assessments to identify potential compliance and operational risks including the facilitation and production of the ICAAP. 
• Regulatory Management: Focus on the management and maintenance of FNZ’s regulatory obligations, including, FSCA/FIC/PA, AML/CTF laws, and Data Protection and Privacy laws.
• Regulator Engagement: Oversee engagement with regulators, including the Financial Sector Conduct Authority (FSCA) and other regulatory stakeholders, to ensure FNZ is well represented and maintains positive, mutually beneficial relationships.
• Regulatory Change: Staying abreast of evolving South African laws and regulations to ensure ongoing compliance. Analyse new legislation, assess its impact on FNZ and its customers, and work with business partners to ensure successful implementation.
• Privacy and Data Protection Compliance: Oversee compliance with Privacy and Data Protection laws, including conducting Privacy Impact Assessments.
• AML/CTF Compliance: Oversee AML/CTF processes and ensure ongoing compliance.
• Governance: Manage local risk and compliance committees and report to the board as required.
• Policy and Procedure:  Designing, implementing, and enforcing risk and compliance policies and procedures across the organization.
• Training and Awareness: Promoting a culture of risk awareness and ensuring employees are trained on compliance matters. 
• Reporting:  Provide assurance on the standards of risk management through regular reporting to the relevant governance committees e.g. Board Risk & Compliance Committees (“BRCC”), ZA Board and other regional Boards and Management Risk & Compliance Committees (“MRCC”)
• Audits:  Liaise with auditors and consultants on Risk and Compliance matters

Team Working

• Foster a supportive team environment that values diverse perspectives and encourages collaboration in achieving compliance goals.
• Sharing ideas to enhance cross-team learning and business development. 
• Building and maintaining relationships with internal and external parties. 
• Work closely with other Risk and Compliance teams ensuring approaches to risk and compliance are the same.

Personal Effectiveness

• Managing time effectively, personally and on behalf of others.
• Ability to prioritise and re prioritise work and manage service delivery targets within tight constraints.
• Taking ownership for workload and is proactive in approach.
• Demonstrating sufficient self-awareness to identify personal strengths and areas for development.
• Calm, reasonable and professional manner. 
• Ability to work under pressure.

Performance Assessment

List of measures which will be used to grade on-going performance in this role

Experience Required

This role requires strong Risk and Compliance experience in a management capacity. The following professional and functional qualities are also highly desirable for prospective applicants

• Degree Qualified and appropriate experience in a similar role within the Financial Services industry or professional services firm is essential.
• In-depth knowledge of the South African financial services and regulatory framework, with 5-10 years of senior-level experience in a regulated environment.
• Experience in leadership and people management
• Experience in engaging with regulators and auditors
• Ability to communicate effectively at a variety of levels within a regulated environment, both internally and externally, written and verbally.
• Experienced in working collaboratively across all levels of the organisation, from frontline staff to executive leadership.
• Strong relationship management and interpersonal skills with a proven ability to secure stakeholder buy-in at all business levels.
• Good attention to detail
• Numerate
• Experience in risk management and control

About Fnz

FNZ is the market leading provider of technology and administration services to major financial institutions in the platform and wealth management sectors across the globe. We partner with life companies, banks, asset managers and discretionary wealth managers to enable them to develop and distribute financial products and services to their customers across all major distribution channels.

FNZ has a strong blue-chip customer base including Standard Life, Axa Wealth, JP Morgan, HSBC, AMP, National Australia Bank, Bank of New Zealand, Friends Life, UBS, Zurich Financial and Close Brothers Asset Management. It has helped these customers grow to over £30 billion of platform assets in aggregate. FNZ now employs over 700 people with offices in Edinburgh, London, Bristol, Brno (Czech Republic), Wellington and Sydney.

Opportunities

• Be part of a highly successful, rapidly growing, global business that is leading the delivery of financial services via cloud computing and partners with some of the world’s largest companies.
• Remuneration and career advancement is based on individual contribution and business impact rather than tenure or seniority.
• We provide significant financial rewards for high performing individuals; and
• We provide global career opportunities for our best employees at any of our offices in the ZA, Czech Republic, UK, USA, Australia or New Zealand.

About Fnz

FNZ is committed to opening up wealth so that everyone, everywhere can invest in their future on their terms. We know the foundation to do that already exists in the wealth management industry, but complexity holds firms back. 

We created wealth’s growth platform to help. We provide a global, end-to-end wealth management platform that integrates modern technology with business and investment operations. All in a regulated financial institution. 

We partner with over 650 financial institutions and 12,000 wealth managers, with US$1.7 trillion in assets under administration (AUA).

Together with our customers, we help over 26 million people from all wealth segments to invest in their future.