Risk and Compliance Officer - Investment Banking at Stanbic IBTC

Investment Banking provides clients with a range of advisory and financing solutions. Specialising in high-growth emerging markets, our expert advisers work on mergers and acquisitions, capital restructurings and empowerment deals, as well as arranging finance for acquisitions, client projects and property transactions.

Job Purpose

• To support the CEO of Stanbic IBTC Capital (SICL) and the Stanbic IBTC Chief Compliance Officer to discharge their responsibilities relating to the compliance risk management process as required by relevant regulatory requirements, applicable codes of conduct and minimum standards
• Assist line management and other members of staff by providing advice to guide in discharging their responsibilities to ensure compliance with all statutory, regulatory and internal policy requirements in order to:
• Protect the reputation of SICL and the Group;
• Avoid the institution of legal action against SICL;
• Promote a good working relationship with supervisors/regulators;
• Ensure good housekeeping practices; and
• Enable SICL to demonstrate to regulatory authorities and other stakeholders that it is “fit and proper” to undertake its business.
• To develop and maintain a thorough understanding of the relevant regulatory requirements and policies applicable to SICL, thereby facilitating the establishment of a compliance culture.
• To guide all members of staff to act with integrity, diligence, and in an ethical manner in dealing with all clients.

To develop and build relationships with key stakeholders within the Standard Bank Group.

Key Responsibilities/Accountabilities

Regulatory Universe

• Responsible for the completion and maintenance of SICL’s Regulatory Universe and Policies
• Ensure SICL’s timely compliance with all regulatory requirements including but not limited to all periodic and adhoc regulatory reports and obligations
• Responsible for the development and maintenance of detailed Compliance Grid on relevant laws, regulations and policies.
• Provides gap analysis of updated regulations/legislations and policies.
• To maintain a good working relationship with the Securities & Exchange Commission (“SEC”)
• To ensure that SICL is aware of changes to any applicable Rule or Regulation and to interpret the implications of any regulatory changes to SICL.
• Ensure a coordinated / aligned strategic approach to and position of, emerging regulatory developments.
• To be actively involved in relevant industry/regulatory committees

Compliance Risk Management Plans (CRMPs)

• Responsible for the development and deployment of SICL’s Compliance Risk Management Plans (CRMPs).
• Ensure the appropriate use of compliance risk management tools within the business.

Advisory

• Analyse and identify compliance risks, processes and controls and provide advice to management, relevant committees and the employees in order to effectively manage compliance issues.
• Provide assistance and advice on compliance issues in respect of new businesses, products and other initiatives such as projects.
• Complete the annual Compliance Self-Assessment.
• Reputational Risk
• Safeguard the reputational risk of SICL by ensuring regulatory requirements and developments are aligned.

Monitoring

• Create a compliance monitoring plan in consultation with Group Compliance.
• Monitor on an on-going basis the adherence to the Compliance Governance, legal and regulatory standards in order to identify further areas of improvement and detect potential compliance breaches and exposures. This includes monthly reporting to Operational Risk on Key Risk Indicators (KRI) and Risk Control Self-Assessment (RCSA) reports.
• Monitor Personal Account Trading (PAT), Conflicts of Interest (COI) and outside business interest (OBI) and investigate potential problem areas/trades.
• Review and approve requests for employees to gain access to areas behind Chinese Walls in respect of specific deals.
• Work closely with business units to ensure transactions are uploaded to the Compliance Control Room (CCR) on deal clearance and watch and restricted lists issues
• Responsible for the management of the SICL Procedures Manual and monitoring SICL adherence to all business procedures
• Monitor the level of compliance with SEC Rules & regulations as well as all SICL and Stanbic IBTC Holdings policies including but not limited to Records Management Policy, Market Abuse Policy, Conflict of Interest Policy, Gratification Policy etc.
• Provide guidance to members of staff of SICL in relation to Know Your Customer (KYC) requirements and ensure that SICL’s relationships are KYC compliant.
• Review various sources of compliance information, including regulatory websites, newspapers and informal sources.
• Ensure that there are customised CRMPs for all high risk legislations pertinent to SICL in line with the compliance plan for the year.
• Assist the business units with the resolution of compliance and audit issues.
• Establish a line of communication to SICL’s MANCO, in order to report SICL’s compliance with regulatory requirements.
• The Compliance Officer shall be well trained in the Rules and Guidelines and shall attend regular training sessions as organized or supported by the CBN or SEC.
• Compliance Manuals, Standards, Policies/Procedures & Training
• Responsible for the development and updating of policies and related training programmes in line with the compliance plan for the year.
• Responsible for educating the other personnel of periodic updates and adjustments as may be made by SEC from time to time. Ensure that trainings tailored for the business unit are signed off and, if appropriate, assist in the delivery of the training and awareness.
• Customise, if necessary, Group Minimum Standards and facilitate, in consultation with Group Compliance, the process of adoption thereof by the business units.
• Request dispensation when policies and procedures deviate from that of minimum standards.
• Regulatory Requirements
• Remain aware of regulatory & legislative developments, and practices of regulatory authorities, which are relevant to SICL.
• Assist the CEO and business units in implementing existing, new and/or amended regulatory requirements.
• Assess and advise the CEO and the business units on the impact of regulatory developments.
• Provide input or comment in relation to the drafting of proposed regulatory requirements.

Compliance and Risk Management Culture

• Actively promote, on an ongoing basis, the Compliance Function, to ensure that a culture of compliance is established in the business units within SICL.
• Seek to establish a compliance culture that contributes to the overall objective of prudent risk management by SICL.
• Cultivate relationships within business units which result in the business units or other relevant forums proactively seeking Compliance involvement in their dealings.
• Assist in the facilitation of Risk Control Self-Assessment (RCSA) for SICL and relevant business units within SICL.
• Assist in the creation and maintenance of key risk indicators (KRIs).
• Assist in ensuring that operational risk framework and policies are implemented in SICL, and that all members of staff are aware of operational risk policies and procedures.
• Assist in ensuring that adequate controls are in place to prevent regulatory breaches to the SEC and thereby avoiding regulatory fines.
• Manage BCM records and assist in ensuring that BCM culture is embedded in the SICL’s space.
• Feedback, Reporting & Escalation
• Utilise established mechanisms for reporting and resolving non-compliance with regulatory requirements.
• Immediately report material compliance related matters to the CEO of SICL and Group Chief Compliance Officer.
• Contribute to the annual sustainability reporting process.
• Inform the CEO, business unit heads and Group Compliance about regulatory inspections and act as a conduit for any significant information requests, comments and findings.
• Complete formal monthly and quarterly compliance reports as may be required by various Group governance structures and regulatory requirements.
• Create and maintain an appropriate electronic record and filing system.
• Act as point of contact for and manage audits on behalf of SICL, maintaining ongoing dialogue with Stanbic IBTC Internal Audit department.
• Business Planning/Decision Making
• Prepare the annual compliance and monitoring plans and submit it to SICL MANCO for approval.
• Prepare Compliance reports for each SICL Board meeting and as required for Group Board meetings.
• Provide back up support for the SICL Business Manager role to ensure business continuity management in the event of an absence, including financial and business management duties

Value Management

Strive to influence a continual reduction in costs within the areas under control. Ensure that service delivered remains cost-effective and efficient.

Preferred Qualification and Experience

Educational Qualifications

• First Degree in a relevant field including banking, finance, accounting, business management, law, economics or a chartered secretary.
• Masters degree and/or relevant professional qualifications would be an added advantage
• Technical Skills
• Good Compliance and Risk Management Knowledge
• Excellent use of MS Word and MS Excel
• Good understanding of the Investment Banking processes and SEC’s regulatory framework
• Good understanding of global financial markets
• Good research skills
• Ability to find practical solutions in line with regulatory/supervisory requirements

Work Experience

• Minimum of 5-6 years working experience in Financial services preferably in an Investment Banking environment with at least 3 years of Compliance experience.

Knowledge/Technical Skills/Expertise

Personal Skills

• Integrity
• Being proactive
• Result oriented
• Team player
• Self-motivated
• Ability to work with minimal supervision
• Strong analytical and numerical skills
• Excellent communication skills
• Strong interpersonal and leadership skills
• Consensus builder
• Discrete with information
• Creative and innovative

Good emotional intelligence skills