Compliance Officer

Job Classification

• Talent Pool - Compliance Officer - Req 124 440
• Location - Johannesburg / Cape Town
• Wealth Cluster
• Please Note: Preference will be given to Applicants from Underrepresented Groups

Job Family

Career Stream

Leadership Pipeline

FAIS Affected

Job Purpose

Nedbank’s Wealth Management SA division is recruiting for a Compliance Officer to support their business. The incumbent will provide advice, guidance, oversight and assurance on the adherence to compliance practices in WMSA (1st line) to ensure compliance risks for applicable legislation are identified, assessed, managed and reported on for Nedbank.

Job Responsibilities

• Build and maintain relationships with internal stakeholders (i.e. the division’s 1st line as well as 2nd line divisional functions such as risk, AML and legal and 3rd line being audit) by establishing effective partnerships to identify and manage compliance risks
• Develop and maintain a clear understanding of the scope and nature of the business conducted by 1st line (business acumen)
• As part of 2nd line, engage with 1st line towards clarifying roles and responsibilities in the management of compliance risk i.e. risk identification, categorization, assessment, management (completing and maintaining Compliance Risk Management Plans - CRMPs) and monitoring
• Adopt and adhere to a risk-based approach in the management of compliance risk
• Develop a solid understanding of all high-risk legislation that applies to the division
• Keep abreast of all regulatory developments/changes that may potentially impact the stockbroking business and engaging relevant stakeholders on a timely basis to ensure business readiness and ongoing compliance risk management
• Contribute to the creation of a compliance culture and compliance awareness in the division by becoming a trusted advisor to 1st line (whilst maintaining independence of mind as part of 2nd line)
  Execute on the agreed annual Compliance Coverage Plan for the division within set timelines
• Ensure compliance risks are managed by developing/updating the Compliance Risk Management Plans (CRMPs) on an annual basis across client facing business (1st line)
• Provide advice and guidance to 1st line on compliance risks, controls, and possible contraventions, through formal and ad hoc monitoring and early detection
• Provide assurance to 1st line on whether compliance requirements are met, and adequate compliance risk management practices have been implemented
• Ensure accurate and timely reporting on any non-compliance, the management of compliance risks, and the state of compliance in the division (1st line)

Essential Qualifications - NQF Level

Essential Qualification

• Post Graduate Diploma in Compliance Management
• Legal Degree
• FSCA Regulatory Exam -  RE 1, RE 3 and RE 5
• CPrac (SA) - Compliance Practitioner designation from CISA; or
• Occupational Certificate: Compliance Officer; or
• Certificate in Compliance Management
• Registered/approved FSCA Compliance Officer

Preferred Certifications

Compliance Institute of South Africa (CISA) - preferred, not essential

Minimum Experience Level

• 5 -8 years’ experience in compliance risk management is required.
• Experience in FAIS, FICAA, POPIA, NCA, required.

Technical / Professional Knowledge

Behavioural Competencies