RBB Compliance Advisory Manager

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Job SummaryThe job purpose of the RBB Compliance Advisory & Regulatory Manager is as follows:

a. Support the business for all bank products as well as engage with Absa RBB Compliance on compliance matters.

b. To oversee and guide the development of compliant, flexible and robust systems, procedures and controls to deliver the Group Compliance objectives and improve business performance in areas.

c. Provide adequate support to the ABML Sales and Trading, Retail Banking Teams.

d. Report on the level of compliance with Compliance policies and standards, applicable laws, regulations and rules impacting the businesses.

e. Implement and manage specific regulatory compliance projects.

f. Provide sound and value added advisory services for all compliance related matters to all business segments in light of recommended practices, policy and regulatory requirements.

g. Act as an enabler to Business via effective business partnering with all functions.

h. To oversee and guide the development of compliant, flexible and robust systems, procedures and controls to deliver the Group anti-money laundering objectives and improve business performance in areas.

i. Demonstrate prudence, sound judgement and appropriate and timely escalations in the management of all types of risks applicable to the role.

j. Manage the day to day operations within the compliance advisory team.

Job Description

Advisory Services

Provide Compliance support to the Sales &Trading, Retail Banking teams which may include projects and/or transactions.

To provide proactive advice on transactions, conflicts, new products and business initiatives within above mentioned areas

Interpretation of statutes and regulations and provide guidance on compliance requirements from legislation into business processes/procedures.

Apply legislative requirements to the approval and roll out of new products by participating in the new product initiative process by reviewing new product proposals for compliance against local regulatory requirements and providing the in country Head / Deputy Head of Compliance and CIB Head of Compliance with a report on these requirements.

Manage applicable requirements in relation to data privacy requirements in collaboration with the Data Protection Officer

Advise business on compliance issues and providing of compliance opinions, changes in set standards/ local requirements (throughout the year).

Identify business impact for new regulatory requirements and escalate upwards as necessary.

Provide clear, accurate and timely responses to in country Head / Deputy Head of Compliance and CIB Head of Compliance requests and requests from management for input on new initiatives and projects thereby providing a superior service which protects and enhances reputation of compliance function.

Act as point of contact between business and Compliance department and create and build a compliance presence in the business and ensure all regulatory registrations are complied with.

Interact with local regulators and ensure that business addresses concerns raised by the Regulator /deliver on commitments made to the Regulator.

Complete the compliance coverage plan as contracted with the in country Head/ Deputy Head of Compliance.

Implement, embed and monitor all compliance policies, processes and methodology in the business operations and assist the Regional Compliance team with local input with regards Policy and Standards setting.

Implement and comply with Audit recommendations and the Enterprise Risk Management Framework.

Follow up on any compliance related findings or action items.

Undertaking trend analyses, thematic reviews on areas of concern, and enhance control deficiencies to promote a proactive approach to adherence with Group policy, CIB Standards and local regulatory requirements.

Deliver other Compliance related projects as and when directed.

Attend to any other cognate duties as may be directed or delegated by the Head/ Deputy of Compliance.

Management Information and Reporting

Provide updates on projects and business and provide input for all applicable reports submitted by Compliance to relevant stakeholders.

Submit reports to the in country Head / Deputy Head of Compliance on areas covered, findings and appropriate recommendations for improvement as required so as to assist the business to operate according to the various regulatory requirements applicable.

Provide management and in country Head/ Deputy Head of Compliance with quantitative and qualitative reports on progress achieved in terms of coverage plan and / or information for any other compliance related reports as may be required by the country Head of Compliance.

Deal appropriately with compliance issues and escalate issues in an appropriate manner to the relevant persons.

Produce quality reports with issues identified with supportive business focused recommendations, and submit to senior management and in country Head/ Deputy Head of Compliance.

Provide information for any other compliance related reports as may be required by the country Head / Deputy Head of Compliance.

Stakeholder engagement

Effectively manage in country compliance relationships with the business teams.

Deliver valued advice and guidance to management on all compliance issues.

Inform the Head/ Deputy Head of Compliance on compliance matters, which may pose financial or reputational risks for the business.

Attend relevant in country meetings, and assist forums in identifying and comprehending the regulatory compliance risks.

Develop and implement programme of regular meetings with internal stakeholders.

Assist business to draft correspondence and presentations to the Regulator.

Ensure to always improve on communications with business through innovative thinking and approaches in line with Absa Group expectations.

Enhance and promote a compliance culture through awareness activities.

Team Management

Actively promote, on an ongoing basis, a culture of compliance, to Business, to ensure continued strategic awareness and alignment.

Support and maintain strong team dynamics and culture.

Harness the collective resources within the Country and Centre Compliance teams and drive towards meeting the strategic goals of Compliance Advisory.

Manage the team to ensure top performance and effective delivery of the compliance objectives.

Manage and support any direct reports, in an effective and motivating manner, while developing, mentoring, and coaching them towards recognition of excellence.

Ensure appropriate goal and KPI setting of each subordinate takes place to ensure coordinated delivery of objectives.

Determine development needs of the team and ensure that development opportunities (training, rotation, on-the-job learning) are escalated to the Head/ Deputy Head of Compliance for budgeting.

Maintain a succession plan for the team by reviewing the skills of the team at least twice a year and having career conversations with them.

Create workforce plans for the area to ensure that current and future business requirements can be met.

Role/person specification

Preferred Education

Bachelor Degree in Law with 7 years relevant work experience with minimum 5 years at managerial level or Masters in Law with 6 years’ experience or equivalent bank related experience.

Additional Qualifications can include ACAMS/International Certificate or Diploma in Compliance, Risk Management.

Preferred Experience

Minimum work experience of 4 years as law practitioner

OR

Minimum of 3-4 years management experience within the Compliance environment including previous experience of assurance and business advisory;

Experience in policy setting and roll out.

Knowledge and Skills

Above

With Solid understanding of banking products and activities, and associated regulatory frameworks, including client assets and transaction reporting obligations. Knowledge of upcoming regulatory developments impacting the financial services, understanding of investment banking products including Bonds, Commercial paper, Loans, Derivatives.

Very Strong Knowledge of Risk Identification, Assessment, Management and Monitoring;

The strength of character, credibility and personal presence and the communication skills to operate confidently and effectively at senior levels both internally and externally.

The flexibility to appreciate the commercial objectives of the business, coupled with an ability to challenge, independently and constructively, senior management, peers or other staff where appropriate, to insist upon adherence to the highest standards of business practice and to the requirements of relevant authorities. Tact and sensitivity as well as strength and authority are important.

Ability to use initiative and work with minimum supervision but ensuring, at the same time, that the line reports are kept fully informed at all times.

Ability to consider issues from a range of angles and propose creative solutions that assist the business in achieving its goals in a safe, compliant and controlled manner.

Ability to communicate effectively, orally and in writing, with senior internal and external audiences – to educate, persuade, negotiate, gain decisions, enforce.

Ability to influence senior management.

Ability to make a real contribution in a rapidly changing environment and thrive on change and the need to learn rapidly.

Being able to effectively liaise with Absa CIB compliance in South Africa to provide solutions for projects and facilitate transaction approvals and BAU Business Skills

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

R-15984179