Compliance Officer: Product, Marketing & FAIS

Job Mission / Objective

As the Compliance Officer overseeing Product & Marketing, and Financial Advisory and Intermediary Services (FAIS) within our financial institution, you will play a pivotal role in ensuring strict adherence to regulatory requirements and industry standards across these essential areas. Your responsibilities will encompass developing, implementing, and monitoring comprehensive compliance programs, policies, and procedures. Your expertise in Product & Marketing, FAIS regulatory reporting, registers, FAIS portal, and supervision management will be critical in effectively mitigating risks and maintaining regulatory compliance.

Requirements

Regulatory Compliance Oversight:

• Provide expert oversight and guidance on regulatory compliance matters related to Product & Marketing, and FAIS activities.
• Stay updated on regulatory developments and promptly implement changes to ensure compliance across relevant business functions.
• Provide oversight and guidance on regulatory compliance matters related to, Product & Marketing & FAIS activities.
• Develop and implement CRMPs on all legislative elements that impact applicable business units.

Stakeholder Engagement:

• Cultivate collaborative relationships with internal stakeholders across various departments, including business units, support functions, and senior management, to foster a culture of compliance and risk awareness.
• Serve as a trusted subject matter expert on compliance matters, offering guidance and advice to stakeholders as required.
• Attend stakeholder meetings and regulatory meetings, as and when required.
• Contribute to the preparation and delivery of regular reports to various stakeholders, EXCO and Audit and Compliance Committee.

Risk Assessment and Mitigation:

• Conduct thorough risk assessments to identify potential compliance risks and vulnerabilities.

• Develop and implement robust strategies for effectively mitigating compliance risks, collaborating closely with relevant stakeholders.

Compliance Monitoring and Reporting:

• Establish and execute robust compliance monitoring programs to assess adherence to regulatory requirements and internal policies within the specified areas.
• Generate comprehensive regulatory reports on compliance activities, findings, and remedial actions as mandated.
• Prepare and submit regulatory reports on compliance activities, findings, and remedial actions to senior management and regulatory authorities as required.
• Lead and facilitate compliance reviews and audits to evaluate compliance with regulatory requirements and internal policies.
• Formulate and execute corrective action plans to address findings derived from compliance reviews and audits.

FAIS Portal Management:

• Manage interactions with the FAIS portal for registration, reporting, and other compliance-related activities.
• Ensure all necessary filings and updates are completed within regulatory deadlines.

Supervision Management:

• Develop and implement supervision management processes to monitor and oversee FAIS activities of the bank.

Training and Awareness:

• Provide ongoing support and guidance to staff on compliance-related matters and inquiries. Develop and deliver Market Conduct and FAIS awareness training.
• Promote a culture of compliance throughout the organisation.
• Maintain records of mandatory compliance training.

Team development:

• To assist fellow compliance officer’s / team members in achieving project or operation goals and reporting deadlines.
• To Identify and extract any possible synergies that exist between internal audit and to develop/foster a co-operative relationship which would be to the advantage of the business.
• General compliance administrative duties.

Policies and Procedures Management:

• Develop, review, and enhance compliance policies and procedures specific to Product & Marketing, and FAIS operations.
• Formulate and execute corrective action plans to address findings derived from compliance reviews and audits.

Personal Development:

• Be willing to learn and grow by being exposed to various disciplines within the department and not work in isolation.
• Take responsibility of personal development within the compliance sphere.
• Attend compliance related workshops, training interventions and conferences.
• Contribute by assisting in ensuring training hours are completed and training is attended.
• Ensuring attendance of business workshops and training sessions.
• Participate on industry-specific associations, standing committees, work groups and other interest groups in the financial services industry, where necessary.

Academic Knowledge:

• Appropriate professional qualification from a reputable educational institution or professional body; or
• Appropriate accredited compliance related course endorsed by the Compliance Institute.
• Post graduate diploma in Compliance Management (advantageous)
• Member of the Compliance Institute.
• Candidate must be approved (or eligible for approval) by the FSCA as a FAIS Compliance Officer and meet all Fit and Proper Requirements, including appropriate FSCA-recognized qualifications, successful completion of regulatory examinations (RE1 and applicable category exams), and a minimum of 3 years’ relevant compliance or risk experience in the financial services sector.
• The candidate must demonstrate strong knowledge of FAIS and related legislation, as well as the ability to operate independently, maintain an effective compliance framework, and engage with regulators and senior management.

Work Experience:

• Minimum of 2 – 5 years of experience in compliance or regulatory roles within the banking or financial services industry, with a focus on Treasury, Global Markets, Trade Finance, Product & Marketing activities.
• 3 years’ FAIS experience for a Cat 1 License
• Understanding and ability to assess compliance risks.
• Ability to interpret legislation.
• Understanding of and ability to implement monitoring methodologies.
• Proficiency in compliance frameworks, CRMPs, and risk mitigation strategies.
• Good presentation skills (Ability to provide awareness training).
• Ability to provide advice and guidance to Business.
• Ability to compose compliance related reports.

Skills / Specialized Know How:

• In-depth knowledge of South African regulatory landscape, including FAIS, FICA, POPIA, TCF, CPA, Market Conduct Standards for Banks (MCSB), Codes of Conduct for Financial Products and Services, Exchange Control, FAIS, and other relevant legislation.
• Proven track record in developing and implementing compliance frameworks and controls.

All appointments will be made in line with Access Bank’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals living with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.

Benefits

• Medical Aid
• Pension Fund
• Staff Rates