Compliance Officer, Asset Management at Rand Merchant Bank

REF: RAML/CO/10/21
Level: Mid-Senior

Role Purpose

• The Compliance Officer will be responsible for end-to-end compliance functions for the business, regulatory reporting and group office reporting.
• He/she will also make recommendations to the Business regarding interpretation and implementation of policies, procedures, and processes to address live and/or potential regulatory compliance issues.
• This role aims to support and facilitate the company’s business to be conducted and supervised in compliance with applicable laws, regulations and firm policies

Responsibilities
The successful candidate will be responsible for:

• The identification, communication and tracking of regulatory changes and analyzing the impact of such changes for the company
• Identifying potential areas of compliance vulnerability and risk to aid in the development and implementation of corrective action plans for resolution of such vulnerabilities
• Regulatory Liaison: Responding to correspondences and inquiries from regulatory authorities, and government agencies, as well as proactively liaising with them to resolve all Compliance-related issues.
• Rendition of Returns: Rendition of quarterly returns to SEC or any other reports that may be required by relevant regulators and provision of information for half yearly returns to client companies.
• Compliance Monitoring: Supporting the implementation, continuous improvement and monitoring of AML (Anti-Money Laundering) and CFT (Counter-Terrorism Financing) programmes across the organization.
• Threat Assessment: Identifying potential areas of compliance vulnerability and risk, as well as drive development and implementation of corrective action plans for the resolution of problematic issues.
• Exception Management: Providing support to the team by following up with relevant parties in resolving exceptions raised in Regulators’ audits.
• Stakeholder Management: Proactively seek to build mutually beneficial, and trusting relationships with both internal stakeholders, and external stakeholders (i.e. regulators), with the aim of delivering operational impact.
• Developing and implementing policies and procedures that are designed to detect and prevent violations of the securities laws and mitigate various types of risk, including compliance and operational risks.
• Providing guidance to the business as necessary on compliance, client guideline interpretation and regulatory issues on existing and potential products / business initiatives
• Continuously review existing policies, procedures and surveillance activities to seek to modify and improve the compliance program
• Acting and the coordinator of the combined risk profile for the business by facilitating and overseeing risk reporting and engaging with risk counterparts in South Africa
• Oversight of portfolio compliance, which includes adherence with client investment mandates, regulation, house rules and industry standards
• Conduct of compliance monitoring reviews with the dotted line to FirstRand Group monitoring excellence.

Qualifications and Experience

• B.Sc. Degree in relevant field (preferably in Finance or Law). Post graduate degree will be beneficial
• Minimum of 8 years of work experience (with a minimum of 5 in Compliance role).
• Registration with Nigeria’s Securities & Exchange Commission (SEC) as a Sponsored Individual for the applicable function is a requirement.
• Risk management, or auditing experience from which knowledge in internal control and risk management was obtained, an added advantage • Asset management industry experience, including mutual fund business
• Knowledge of Market and Regulatory Environment.

Competencies:
Technical Skills:

• Technical / advanced analytical and model building skills
• Keen interest in and understanding of financial markets
• Technical / business process knowledge
• Demonstrate sound knowledge of multiple asset classes including money market, fixed income and equity.
• Knowledge and understanding of the market and regulatory rules / operating environment and ability to interpret regulations.

General:

• Good interpersonal skills
• Team player and good collaborator
• Strong decision-making skills
• Good verbal and written communication skills
• Attention to detail.

Human Relations Profile:

• Strong character & integrity are paramount
• Self-confidence, with a pleasant personality
• Well organized / good time management capabilities / disciplined / detail orientated
• Self-starter able to work with minimal supervision
• Strong work ethic and ability to operate in a fast-growing environment
• Flexible when necessary and ability to work effectively under pressure
• Team oriented.