Job Purpose
The Regulatory Compliance Associate Specialist assists and develops, implements and oversees the regulatory compliance strategies of the bank. Assists in the establishment of an effective compliance function, framework and core processes for the bank.
Areas of responsibility may include but not limited to
Provide Compliance advice and guidance to business and key stakeholders
Initiates and assists in the development of key compliance policies and standard operating procedures
Ensures that these policies and procedures are consistent with the approvals of various boards
Identifies and assists with training and educational needs regarding compliance practices and make recommendations and develop training content
Ensures compliance with industry regulatory standards
Implements core Compliance principles, frameworks, processes, systems and platforms
Implements Compliance Risk Management Framework, reviews Regulatory Universe and implementation of the Compliance Risk Management Plans and control gap analysis
Compiles and assists with Compliance reports for Management and relevant Bank committees
Assists with Regulator and Audit reviews and oversee compliance actions
Assist with Regulatory Change and commentary processes in Discovery Bank
Register and maintain breaches and incidents
Skills
Required:
Have an understanding of and an ability to implement Compliance governance
Have an understanding of the legislative and regulatory requirements impacting the South African Banking Sector
Have detailed knowledge of the legislative and regulatory environment and reporting requirements imposed by South African Regulators (SARB, FSCA and NCR) specifically, but not limited to , the Banks Act, FAIS ,NCA,CPA and Conduct Standards for Banks
Preferred:
Microsoft word, excel and power point
Qualifications
Required:
A Legal degree, a Bachelors degree and a compliance qualification
Have an understanding of the core principles of an effective Compliance function
Work Experience
Required:
At least 3- 5 years Compliance experience in the financial services industry
Preferred:
Retail Banking experience advantageous