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Head of Compliance (SA)

Remote and Office.

Job Type

About the Company

Ukheshe and EFT Corporation have recently merged to bring together the best of both worlds; innovation and agility of BaaS solutions, and robust payment solutions infrastructure to offer unparalleled fintech services across Africa. Our two companies, now trading as EFTCorp are poised to redefine the landscape of digital transactions and payments, empowering financial institutions and driving meaningful impact across emerging markets in Africa.

We believe that being bold, curious, having an entrepreneurial mindset, purposeful collaborations and diversity and inclusion are just some of the hallmarks associated with building great teams. We innovate through a culture of ownership, being human and valuing our people's voice and perspective while creating an opportunity for them to become the best version of themselves and thrive personally and professionally

What we are looking for

Head of Compliance (South Africa)

About the Role

Role Purpose:


The Head of Compliance is responsible for driving and overseeing compliance within the organisation to ensure that financial and operational procedures and personal conduct within the organisation comply with relevant and applicable laws, regulations and contractual agreements. This role will lead the compliance team and take accountability to informing and execute on the compliance strategy, taking direct accountability for the efficient and effective execution of day-to-day operational compliance activities. This role will be appointed as the section 42 Compliance Officer in terms of FIC in respect of the South African Alliance Banking business.


Organisational Compliance Implementation and Monitoring:


  • Drive and enforce organisation compliance with the, NCA, FAIS, FICA, POPIA and NPS and any other applicable legislation.



RMCP Implementation and Monitoring:


  • Drive FICA compliance.

  • Keep the board of directors and governance committees informed of developments in RMCP, potential risks and vulnerabilities, applicable impending legislation and impact on overall health of program.

  • Roll-out and monitor the implementation of the RMCP program and provide input into the same as part of the enhancement process.

  • Oversee and implement an ongoing AML Training program for employees.

  • Drive Sponsor bank reporting and SLA’S under RMCP.


Compliance Risk Management:


  • Document & maintain organisational risk register for the compliance function.

  • Document & maintain the company compliance universe register reflecting all appliable legislation, obligations and level of compliance with action plans to mitigate or close any non-compliance.

  • Effectively close any compliance gaps or risks.

  • Timeous reporting of compliance related risks to Board of Directors, and appropriate governance committees.

  • Implement, monitor and execute on the outputs of the compliance performance dashboards (compliance KPI’s).


Compliance Governance:


  • Establish and ensure execution of relevant governance practises for AML/ Compliance reporting in line with King IV



Policy, process and procedure Implementation and Monitoring:


  • Take ownership for the compilation and review of compliance policies and procedures aligned with document control standards.

  • Drive effective implementation and quality management of compliance policies and procedures.

  • Risk management: Provide oversight and monitoring of processes and procedures to ensure policy objectives and risk mitigation are effectively achieved.

  • Conduct periodic internal reviews and investigations of compliance issue, monitor and test policies and procedures to ensure the Group is compliant and report to the Board of Directors or relevant governance committees as required.

  • Assess the identification and recording of non-compliance matters and implementation of the agreed recommendations and report to the Board of Directors or relevant governance.

  • Communicate key aspects of the compliance policies and frameworks to business stakeholders.



Stakeholder relationship management and correspondence:


  • Regular engagement with the business and legal and regulatory bodies on compliance-related matters including:

    • Board of Directors, Senior and Executive Management

    • Governance Committees o The organisation's sponsoring bank(s)

    • PASA, NPSD and other regulatory bodies.

    • Serve as a point of contact for regulatory inquiries and audits, and coordinate responses as needed.


Compliance Research and Business strategy support:


  • Analyse current and forthcoming regulations, proposals and legislation and provide meaningful, detailed analysis.

  • Conduct compliance related research where required to support new products or business requests.


Compliance Practice Development:


  • Engage and attend workgroups with external stakeholders such as FIC, FSCA, PASA, PIB, IFWG, PASA, NPS as well as with the Regulatory Authorities.

  • Provide feedback on the workshops. o Identify suitable workshops provided by these regulators for the AML staff.


Compliance Training:


  • Responsible for Compliance Training, monitoring, guidance and coach employees on Compliance matters.


People and Leadership:


  • Lead and develop a high-performing compliance team, ensuring that the team has the necessary skills and resources to drive the overall business compliance strategy.

  • Drive transformation Goals.

  • Quality Job descriptions and KPI’s in place for all roles aligned with business strategy.

  • Performance contracts and performance reviews conducted on time in line with company process.

  • Personal Development Plans completed for the Compliance Team.


Team Cohesion:


  • Working together as a high-performance leadership team to drive sustainable business practices to achieve the short and long-term business strategy.

  • Providing compliance leadership and mentoring across the business.


Way of Work:


  • Use of proper punctuation, UK English grammar and spelling.


  • Ensure all documents, correspondence etc. are formatted correctly, are neat and accurate.

  • All activities are completed with due care and align with accuracy and quality standards.

  • Obtain necessary approvals for legal/compliance activities aligned with process.

  • Identify and / or confirm relevant timeframes / deadlines applicable to the task at hand.


Time-Sheet Management:


  • Time tracking must be completed on a daily/weekly basis in Jira (Tempo).

  • Accurate project codes must be allocated to each line item.

  • Employee must track a min of 8 hours per workday.


Business Risk Management:


  • Compliance with company policies and procedures.

  • Complete all periodic mandatory policy and security training in accordance with Ukheshe/ EFT’s guidelines.

  • A risk mindset must be applied, and any business risks must actively raise with the Business Risk Manager and report to the Chief Risk and Compliance Officer.



Country where services will be rendered:


The nature of this role may require the individual to provide services across different entities within the EFT Corporation Group as and when required. This could involve temporary assignments, projects, or

responsibilities that extend beyond the specific entity to which the individual is initially assigned. The willingness to adapt and contribute to the broader objectives of the group is essential for success in this role.


Country of Employment:


South Africa.

Requirements

  • B.Com Law and/or LLB Degree and or Diploma in Law or equivalent and any other compliance related qualification suitable for this position.

  • CISA membership would be advantageous.

  • 5+ Years experience in a Compliance environment and/ or managing/ leading a Compliance team preferably in the Financial Services sector (Banking, Fintech).

  • FICA or AML Compliance Officer experience, and Alliance Banking experience required.


  • FSCA Registered Category I Compliance Officer advantageous

  • A working knowledge of FICA, FAIS, and related anti-money laundering legislation.

  • A working knowledge of NPS legislation and SO/TPPP license requirements.

  • A working knowledge of POPI, PAIA, TCF and related topics.

  • Strong knowledge of industry protocols and best practices.

  • Working experience in managing a Team.

  • Organisational compliance training.

  • Passionate about compliance.

  • Ability to operate both at a strategic and operational level.

  • Proactive individual who is a self-starter and gets things done.

  • An individual who takes a pragmatic approach to Compliance and is business minded.

  • Has the ability to work well with stakeholders and collaborate to develop practical solutions to compliance related problems.

  • Possesses good stakeholder management ability and can develop relationships across senior and junior management levels, and with regulatory bodies.

  • Excellent written and verbal communication skills.

  • Stress tolerance – ability to deliver quality results under stress.

  • Ability to work independently while maintaining strong collaborative relationships with colleagues and partners.

  • A growth mindset – the ability to adapt and embrace challenges as opportunities for growth.

Purposeful Impact. Client Focus. Doing the Right Thing, Cultivating Excellence. Teamwork.

Purposeful Impact. Client Focus. Doing the Right Thing, Cultivating Excellence. Teamwork. 


We are an Equal Opportunity employer committed to a diverse and representative team. Different opinions, perspectives and personalities push us forward. We want to hear from people who are passionate about their work and align with our values. Regardless of race, religion, colour, national origin, gender, sexual orientation, age, marital status, neurodiversity or disability - whoever you are, if you’re curious, relentless and customer-obsessed, we want to hear from you. 


EFT Corporation does not accept unsolicited resumes from search firms/recruiters. EFT Corporation will not pay any fees to search firms/recruiters if a search firm/recruiter submits a candidate unless an agreement has been entered into concerning the specific open position(s). Search firms/recruiters offering resumes to EFT Corporation on an unsolicited basis shall be deemed to accept this condition, regardless of any other provision to the contrary.

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