CORE PURPOSE OF THE JOB<\/p>\n
\t\u00a0To manage regulatory and reputational risk at the Bank.<\/p>\n
\u00a0MAIN FUNCTIONS OF THE JOB<\/p>\n
\u00a0Assists the Manager in the overall management of Regulatory Risk<\/p>\n
\tEnsure compliance with current laws, regulations, guidance notes and supervisory requirements or provisions
\n\tEnsure that the Bank is not subjected to prosecution, levied with fines or its licence affected in any way
\n\tPrepare a Compliance Functional Plan for the following year and obtain Audit Committee approval
\n\tReport on progress with the Compliance Functional Plan for the year
\n\tPrioritise legislation for analysing for the year
\n\tAnalyse the legislation pertaining to banking by preparing Risk Management Plans for each prioritized Act, Action Plans and ensure embedded in Departmental Manuals
\n\tInform management of legislative updates through legal alerts
\n\tMonitor for non-compliance and maintain records of monitoring for audit purposes
\n\tPrepare presentations for staff and regulators
\n\tSubmit returns to regulators such as for FAIS, FICA, etc.
\n\tPrepare policies and procedures for relevant legislation
\n\tMaintain and annually update the compliance manual<\/p>\n
Assists in Monitoring<\/p>\n
\tMonitor compliance with legislation by conducting branch reviews
\n\tMonitor legislative updates
\n\tAdvise Management and the Board of non-compliance with legislation
\n\tQuery non-compliance with staff and management and suggest corrective measures including disciplinary action where necessary
\n\tMonitor submission of BA returns to the Registrar by other departments<\/p>\n
Assists in the overall management of Reputational Risk<\/p>\n
\tManage any negative publicity that could result in reputational risk to the bank or have other adverse consequences
\n\tMonitor customer complaints and any threatened or actual events that could result in a reputational risk to the bank
\n\tInform management and directors of such events<\/p>\n
Assists in the management of Money Laundering Risk<\/p>\n
\tManages the activities of the AML Department
\n\tManages and mitigates Money Laundering and Terror Financing risk
\n\tAdvises senior management and the Board on application and implementation of AML, CFT and sanctions legislation, regulations and international best practice
\n\tDevelops and maintains the AML\/CFT and Sanctions policies and procedures and recommends for approval on an annual basis – eg. RMCP
\n\tMonitors development of, analyses and interprets the regulatory requirements in terms of the Financial Intelligence Centre Act (FICA) and associated Guidance Notes, Public Compliance Communications and Directives, the FATF 40 Recommendations and international best practice such as Wolfsburg Group, Basel Committee on Banking Supervision and Central Bank of Bahrain Directives
\n\tDevelops and maintains an appropriate risk-rating methodology by considering the relevant legislation, international best practice and industry application in the form of an AML\/CFT Risk-Rating Policy
\n\tDevelops and maintains an appropriate risk-based approach (RBA) to Customer Due Diligence (CDD)\/ Know Your Customer (KYC) obligations in terms of the FIC Act, industry standards and international best practice
\n\tProvides oversight and guidance in performing and adhering to the Bank\u2019s ODD obligations
\n\tDevelops and maintains the enhanced due diligence (EDD) requirements taking into account the high money laundering and terror financing (ML\/TF) risk areas of the Bank
\n\tAssesses the adequacy of applicable typologies and parameters selected for implementation in the SAS system
\n\tEnsures that all regulatory reporting is conducted timeously, eg. CTRs, STRs.
\n\tEnsures a comprehensive, efficient and effective sanctions and watchlist screening function by the implementation of an automated sanctions screening software to comply with local and international sanctions regulations, as well as financial crime risk mitigation measures
\n\tEnsures annual training conducted to all staff on FIC Act obligations in line with their job functions
\n\tReviews branch compliance to AML\/CTF matters by reviewing customer files and reports on findings to EXCO and Board
\n\tConducts regular reviews to ensure compliance with AML\/CFT matters, eg. submission of reports, updating of watchlists, etc.<\/p>\n
Assists with Training requirements<\/p>\n
\tTrain staff and directors on legislation generally
\n\tProvide intensive training to staff on important legislation e.g. Financial Intelligence Centre Act, the FAIS Act, etc.
\n\tConduct tests to ensure employees obtain the relevant level of expertise<\/p>\n
General<\/p>\n
\tPreparing regular reports for EXCO and Board
\n\tAssisting on Committees
\n\tConducting research and providing compliance opinions to Exco and Board
\n\tMaintaining relationship with Group Compliance and submitting quarterly Compliance reports<\/p>\n
Assists in performing Information Officer Duties<\/p>\n
\tEnsures Compliance by the Bank with the conditions for the lawful processing of personal information.\u00a0
\n\tDevelops and maintains the policy on the eight (8) conditions for the lawful processing of personal information.
\n\tDeals with requests made to the Bank pursuant to POPIA
\n\tWorks with the Regulator in relation to investigations conducted pursuant to Chapter 6 of POPIA in relation to the Bank.
\n\tEnsures compliance with the provisions of POPIA.
\n\tDevelops, implements, monitors, and maintains a compliance framework
\n\tDevelops, monitors, and maintains a manual as prescribed in sections 14 and 51 of PAIA, as amended
\n\tDevelops internal measures together with adequate systems to process requests for information or access thereto
\n\tConducts internal awareness sessions regarding the provisions of POPIA, regulations made in terms of POPIA, codes of conduct, or information obtained from the Regulator
\n\tProvides copies of the manual when requested upon the payment of a fee to be determined by the Regulator from time to time.<\/p>\n
Requirements
\nQUALIFICATIONS<\/p>\n
\tB.Com\/ LLB or similar relevant degree
\n\tCertificate in Compliance Management from a tertiary institution will be a definite advantage<\/p>\n
PREFERRED EXPERIENCE<\/p>\n
\t4 years compliance experience at a financial institution<\/p>\n
KNOWLEDGE<\/p>\n
\tThe role requires a thorough knowledge of Legal Compliance and the risks inherent in non-compliance
\n\tProficient in Microsoft Office Programs
\n\tLegislation affecting the bank
\n\tCompliance processes and procedures
\n\t\u00a0<\/p>\n
go to method of application \u00bb<\/p>\n
Apply via company website ( N \/ A ) or<\/p>\n
<\/p>\n","protected":false},"author":2,"featured_media":0,"template":"","meta":{"_promoted":"","_job_location":"","_application":"","_company_name":"Al Baraka Bank South Africa","_company_website":"http:\/\/N%20\/%20A","_company_tagline":"Al Baraka Bank, registered in South Africa since 1989, pioneered Islamic banking in this country in response to an identified need for a system of banking which adhered to Islamic economic principles. The bank, with its Head Office in Durban and a strategically located national branch network, is So... read moreuth Africa\u2019s only fully-fledged Islamic bank and is a subsidiary of the international Al Baraka Banking Group B.S.C., which has established one of the largest international Islamic banking groups in the world.","_company_twitter":"","_company_video":"","_filled":0,"_featured":0,"_remote_position":0,"_job_salary":"","_job_salary_currency":"","_job_salary_unit":""},"job_listing_region":[16],"job-types":[12],"class_list":["post-26053","job_listing","type-job_listing","status-expired","hentry","job_listing_region-kwazulu-natal","job-type-full-time"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/job-listings\/26053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/job-listings"}],"about":[{"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/types\/job_listing"}],"author":[{"embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/users\/2"}],"wp:attachment":[{"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/media?parent=26053"}],"wp:term":[{"taxonomy":"job_listing_region","embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/job_listing_region?post=26053"},{"taxonomy":"job_listing_type","embeddable":true,"href":"https:\/\/jobs.dataaxisnode.com\/southafrica\/wp-json\/wp\/v2\/job-types?post=26053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}