SUMMARY:
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POSITION INFO:
The Compliance Officer is primarily responsible for leading the effort to develop and maintain the companies Compliance framework, including but not limited to ensuring the Business Partner Due Diligence process runs effectively, establish and enforce Compliance Directives, Compliance culture is understood and adhered to by all divisions, respond to monitor requests and prepare and maintain compliance reports.
The position will support strategic decisions to drive compliance appropriate directives and practices and to support employees in all business units to proactively identify, assess, mitigate, monitor and report on all compliance risks and exposures throughout the entity and its subsidiaries. The position will liaise with appropriate management to ensure compliance risks, which threaten the assets or earning capacity of the company, are properly identified, monitored, eliminated and/or controlled.
The position reports directly to the Manager for Governance, Risk, Compliance and Integrity of the entity and will work closely with representatives of the various Divisions
Duties include:
- Implement & monitor business partner due diligence and provide guidance to employees on internal compliance and on the business partner due diligence process;
- Track and oversee whistleblower reports and inform employees about the Whistleblower process and other compliance systems to ensure their effectiveness;
- Prepare and maintain management reports regarding compliance operations, progress and compliance activities—including any complaints or investigations;
- Evaluate the efficiency of controls and improve them continuously;
- Identify compliance risks and competently advise on applicable regulatory matters;
- Developing and overseeing control systems to prevent or deal with violations of legal guidelines and/or internal directives;
- Will have or attain strong knowledge of laws, regulations, industry best practices, and current trends in the field;
- Keep abreast of regulatory developments within or outside of the company as well as evolving best practices in compliance control;
- Initiate and lead training activities on Compliance topics to New Hires on a regular basis and to all employees periodically;
- Review and analyse compliance monitoring reports and other related source documents for suspicious/unusual patterns of activity. Follow-up with responsible area for explanations and discussions for appropriate action.
- Work with other departments (e.g. Human Resources) to facilitate the design of a training program for new staff and design continuous training programs for all staff including the board of directors to keep everyone abreast of the latest developments and areas of concern as needed.
- Participate in compliance reviews, projects and training efforts; act on behalf of senior management, as required.
- Develop an enhanced systematic approach on Anti Money Laundering including local legal requirements, training and review controls.
- Co-ordinate targeted training, including completeness checks in terms of what percentage of people have completed the training and whether the outstanding people have been informed and requested to complete the training.
- Prepare targeted Compliance Communication campaigns timeously
- Development, preparation and maintenance of Organisational Directive/s, Work Instructions, Process Standards that depict the implementation of the Compliance Management System (CMS)Â
Essential:
- Bachelor’s degree in either Business, Economics, Finance, Accounting, Law or comparable field, OR
- Certified Internal Auditor (CIA)
- a Post Graduate Diploma or Certificate in Compliance Management would be advantageous
- 3-5 years in Risk, Compliance or comparable positions
- Strategic decision making skills for executing measures to manage complicated tasks
- Solid financial understanding – knowledge of relationship between risk and control as well as industry exposure and understanding.
- Highly developed interpersonal skills.
- Excellent communication skills (oral and written) and attitude necessary to establish and maintain positive working relationships with all management and personnel.
- Ability to communicate effectively through presentations and individual discussions through all levels within the company (directors to staff level).
- Independent judgment with strong analytical and risk assessment skills.
- High level of computer literacy, i.e. MS Office (Excel, PowerPoint, Word) at an advanced level
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