Junior Investments Regulatory Specialist

SUMMARY:
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POSITION INFO:

About the Position:

Our client is one of South Africa''s leading investment and wealth management businesses and is based in Cape Town, with a presence in Sub-Saharan Africa, the United Kingdom, Europe and India.

Summary:

• The Junior Investment Regulatory Specialist will assist with conformance with applicable laws and regulations covering diverse fields
• Performs statistical sampling and monitoring spanning the ambit of the Regulatory Team, e.g., FICA Compliance, Transaction monitoring, Fraud investigations and preventative monitoring and reporting
• Assist the client’s operations with FICA/Risk rating related enquiries
• Review analysis done on transaction (cash, suspicious transactions) and High-Risk client monitoring, reports and perform relevant approvals/sign offs
• Keep abreast of the changes in regulatory environment and feedback impact to business

Key responsibilities will include:

• Keep abreast of regulatory change by scanning the regulatory environment, and assisting the Regulatory specialist in the summarization of the pending changes, with relevant implementation dates
• Keep abreast of regulation which touches on, e.g., CISCA, FICA, COFI, POPIA, FATCA, AEOI, Income Tax etc.
• Assist the clients operations with FICA/Risk rating related enquiries
• Liaise with the Regulatory Specialist, and/or Regulatory and Risk Manager and as applicable, the Compliance Manager to share a common understanding of any regulatory requirements
• Perform regulatory monitoring activities, incl. EDD, transaction monitoring and fraud investigations as applicable to activities (daily basis) and perform as a back up to the Regulatory Specialist, sign off duties regarding the Onboarding of EDD cases, and revert on issues, provide guidelines to solve problematic cases
• Review screening and risk rating reports to ensure compliance (daily) and revert on issues
• Identify training gaps and engage with Regulatory and Risk Manager to ensure regulatory training is given where applicable
• Assist with providing source information for training material, review training programme and training material timeously
• Assist in the update of the FICA Rule book as well as Risk Rating tools
• Participate and give input on all the organisations forms pertaining regulatory requirements to the Regulatory specialist and Manager
• Review analysis done on transaction (cash, suspicious transactions) and regulatory monitoring, reports and perform relevant approvals / sign offs (daily basis), and report to Regulatory and Risk Manager and Specialist
• Assist with keeping relevant compliance policies, and processes within the business are continuously kept up to date
• Provide monthly and quarterly regulatory reports as required by the Regulatory and Risk Manager, COO and EXCO
• Assist Regulatory and Risk Manager with any analysis and investigations needed for AML/Fraud/ transaction monitoring
• Participate in discussions of business/system requirements for regulatory changes and propose required changes to systems, reports and processes on regulatory changes to the Regulatory and Risk Manager and Regulatory Specialist
• Review and report post transaction screening and monitoring on High Risk rated clients report to Regulatory and Risk Manager and Regulatory Specialist accordingly
• Review Enhanced Due Diligence and screening investigations on High Risk rated clients, as well as FICA Compliance by the business on a daily basis and report findings to Regulatory and Risk Manager as well as the Regulatory Specialist on a weekly basis
• Assist with the investigation of possible fraudulent instructions as well as suspicious behavioural actions of clients, and put the necessary steps in place to stop/prevent the suspected fraud, as required
• Ensure all tasks are completed timeously, and escalate to Regulatory and Risk Manager as required
• Become efficient user of relevant system applications to enabling meeting operational job requirements
• Develop an understanding of the instruction management process to identify potential incorrect or suspicious transactions
• Adherence to all governance, legislative and regulatory requirements
• Reporting direct to the Regulatory and Risk Manager, and provide input on areas of responsibility

Minimum Requirements:

• B Com Degree or an equivalent qualification
• Minimum of 5 years’ experience in Financial Services Industry (with 3 years CIS environment, with experience in the compliance arena; anti-money laundering; transaction monitoring or fraud prevention experience and or qualification in these areas; and/or Compliance management qualification will be beneficial)
• Operational experience will be advantageous

Technical Competencies:

• Ability to understand business and technical processes across front and back-office capabilities
• Interpret new legislation and changes to existing legislation
• Understand the possible impact of such changes within the investment environment and engaging with the business to unpack the technical and/or operational changes required from a compliance perspective

Behavioural Competencies:

• Strong relationship capabilities
• Accuracy and attention to detail
• Collaborate and work collaboratively with others to meet shared objectives
• Deal with complexity
• Function as part of a team
• Handle a diverse range of tasks simultaneously
• Perform well under pressure, prioritise and meet deadlines
• Prioritise and function positively under pressure
• Accept accountability and take responsibility for tasks done
• Action oriented
• Adherence to all governance, legislative and regulatory requirements
• Excellent communication skills both written and verbal
• Excellent interpersonal skills
• Good planning, problem solving and analytical abilities
• Self-control
• Stress tolerance
• Team player and client centric

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