Description:
Primary Objectives/Purpose of Job:
The Compliance & Operational Risk Manager is responsible for (1) driving and overseeing compliance within the organisation with relevant and applicable laws, regulations and contractual agreements as well as (2) the development and implementation of a “fit for purpose” enterprise risk management framework which is aligned to business processes. This position involves informing and executing on the compliance & operational risk strategy as well as taking direct responsibility for the efficient and effective execution of day-to-day operational activities for both these disciplines.
This is an excellent opportunity for an individual to make their mark within the organisation by partnering with business to drive and achieve the compliance and operational risk objectives.
Compliance Duties and Responsibilities:
- Take full responsibility for the compliance function within the business and work with the relevant business partners to ensure compliance with the NPS, FAIS, FICA, POPIA and any other applicable legislation;
- Roll-out and monitor the implementation of the Risk Management and Compliance (RMCP) program and provide input into the same as part of the enhancement process;
- Ensure efficient and effective running of the daily compliance operational activities;
- Assist in communicating key aspects of the compliance policies and frameworks to business stakeholders;
- Take ownership for the compilation and review of compliance policies and procedures;
- Monitor and execute on the outputs of the compliance dashboards;
- Review new/existing processes and products to identify and mitigate compliance risk and sign-off on the same;
- Be proactive and monitor changes to the regulatory landscape and provide the necessary compliance advice and guidance to business partners;
- Assist in the design, development and delivery of compliance awareness and training interventions;
- Assist to produce/contribute to the Compliance quarterly board reporting and
- Ensure that any outstanding compliance allocated internal audit actions are closed within deadline.
Operational Risk Duties and Responsibilities:
- Take full responsibility for the operational risk function within the business and work with the relevant business partners to identify and manage operational risks across the business and build a risk culture/risk-aware mindset
- Derive, obtain buy-in and drive the execution of the strategy for Operational Risk within the Merchant segment
- Own and drive the process to draft, maintain and review the Operational & Strategic Risk Registers for the business units and functions and ensure that there is appropriate, constructive challenge from a risk perspective during this process
- Take the lead on and undertake business assurance activities as and where necessary to provide assurance on business processes/products/services etc.
- Serve as the risk subject matter expert and provide the necessary guidance as part of new product/process/service/channel development in line with the Agile methodology
- Ensure the documentation of risks in the internal operational risk tool and ensure management of the same
- Perform root cause analysis on risk events and document lessons learnt related to the same
- Develop and provide the necessary Operational Risk training to business as is required
- Produce the necessary risk reporting on a monthly and quarterly basis respectively for both internal stakeholders and the Board Audit Committee.
- Proactively escalate any areas of concerns and ensure remedial steps are identified and implemented
Knowledge and Experience Required (What you’ll need to succeed):
Educational Level : Legal, Risk or Compliance related degree or equivalent. CISA membership or any additional risk qualification/membership would be advantageous.
Specialist Skills required: Organisational skills, Leadership skills, Detail orientation, Stakeholder Management skills, Problem-solving and Communication Skills (written and verbal), Effective time management and multi-tasking skills as well as the ability to work under pressure, Ability to work independently or as a team player. Knowledge of relevant laws and regulations. Having worked with risk tools such as Exclaim or equivalents will be advantageous.
Experience Required: 3-5+ Years experience in a Compliance or Operational Risk environment in either Banking, a Fintech or a Payments company managing/leading a Compliance or Operational Risk team. Previous FICA or AML Compliance Officer experience as well as payments industry experience is required.
Personal Characteristics (What you’ll bring):
- Can operate both at a strategic and operational level
- Proactive individual who is a self-starter and gets things done
- A business orientated, practical and pragmatic mindset to Compliance & Operational Risk management
- Has the ability to work well with people and collaborate to develop practical solutions to compliance & operational risk related issues
- Possesses good stakeholder management ability and can develop relationships across senior and junior management levels
- Good written and verbal communication skills
- Passionate about compliance & operational risk management
Key Stakeholders:
- Senior and Executive Management
- Audit Committee
- Regulatory/Industry Bodies viz. the FIC, FSCA, PASA/PIB and other relevant regulators
Requirements:
- Take full responsibility for the compliance function within the business and work with the relevant business partners to ensure compliance with the NPS, FAIS, FICA, POPIA and any other applicable legislation;
- Roll-out and monitor the implementation of the Risk Management and Compliance (RMCP) program and provide input into the same as part of the enhancement process;
- Ensure efficient and effective running of the daily compliance operational activities;
- Assist in communicating key aspects of the compliance policies and frameworks to business stakeholders;
- Take ownership for the compilation and review of compliance policies and procedures;
- Monitor and execute on the outputs of the compliance dashboards;
- Review new/existing processes and products to identify and mitigate compliance risk and sign-off on the same;
- Be proactive and monitor changes to the regulatory landscape and provide the necessary compliance advice and guidance to business partners;
- Assist in the design, development and delivery of compliance awareness and training interventions;
- Assist to produce/contribute to the Compliance quarterly board reporting and
- Ensure that any outstanding compliance allocated internal audit actions are closed within deadline.
- Take full responsibility for the operational risk function within the business and work with the relevant business partners to identify and manage operational risks across the business and build a risk culture/risk-aware mindset
- Derive, obtain buy-in and drive the execution of the strategy for Operational Risk within the Merchant segment
- Own and drive the process to draft, maintain and review the Operational & Strategic Risk Registers for the business units and functions and ensure that there is appropriate, constructive challenge from a risk perspective during this process
- Take the lead on and undertake business assurance activities as and where necessary to provide assurance on business processes/products/services etc.
- Serve as the risk subject matter expert and provide the necessary guidance as part of new product/process/service/channel development in line with the Agile methodology
- Ensure the documentation of risks in the internal operational risk tool and ensure management of the same
- Perform root cause analysis on risk events and document lessons learnt related to the same
- Develop and provide the necessary Operational Risk training to business as is required
- Produce the necessary risk reporting on a monthly and quarterly basis respectively for both internal stakeholders and the Board Audit Committee.
- Proactively escalate any areas of concerns and ensure remedial steps are identified and implemented
- Can operate both at a strategic and operational level
- Proactive individual who is a self-starter and gets things done
- A business orientated, practical and pragmatic mindset to Compliance & Operational Risk management
- Has the ability to work well with people and collaborate to develop practical solutions to compliance & operational risk related issues
- Possesses good stakeholder management ability and can develop relationships across senior and junior management levels
- Good written and verbal communication skills
- Passionate about compliance & operational risk management
- Senior and Executive Management
- Audit Committee
- Regulatory/Industry Bodies viz. the FIC, FSCA, PASA/PIB and other relevant regulators