Compliance Officer at Interswitch

Job Description

To conduct internal audits to ensure compliance with regulatory requirements and internal policies, and develop and implement compliance policies in liaison with regulators. To assess and report on compliance risks, investigate incidents and take action to ensure compliance.

Responsibilities

• Regulatory and Compliance Management Identify instances of non-compliance with the Interswitch's policies and procedures and / or relevant regulatory codes and codes of conduct, reporting these and escalating issues as appropriate
• Investigate standard incidents using current regulatory and compliance processes, systems and procedures, and take action to solve immediate compliance issues
• Analyse business processes and workflows to identify bottlenecks and redundant compliance tasks and execute processes enhancements to increase output efficiency
• Provide operational support to Team Lead, Compliance by performing prescribed and non-routine compliance monitoring activities, using existing programmes and protocols; suggest improvement opportunities on compliance and regulatory requirements
• Refer more complex issues to the Team Lead, Compliance
• Document Preparation, Insights and Reporting Prepare moderately complex documents using a variety of computer applications and also responsible for gathering and summarising data / information for reports and training programmes and material
• Contribute to the preparation of various data and analytics reports
• Develop weekly progress reports which include activities progress against set timelines, key risk and control indicators, and overall improvements on current processes and procedures that minimise relevant risks; submit reports to Team Lead, Compliance
• Consolidate and document Interswitch’s Compliance policies, procedures, and codes of conduct; monitor compliance against Compliance framework and provide feedback to Team Lead, Compliance
• Client and Customer Management Help Team Lead, Compliance to manage internal and / or external client and customer relationships by using relevant client systems
• Resolve standard Compliance queries from internal or external customers or suppliers by providing information on policies and procedures, and referring the more complex issues to the Team Lead, Compliance
• Attend meetings led by Team Lead, Compliance, along with relevant stakeholders, and acquire client needs on compliance processes and requirements and execute legal mitigation activities in line with communicated requirements
• Build and maintain long-term relationships with contractors, clients, consultants and compliance specialists in the Compliance ecosystem

Requirements

BEHAVIORAL COMPETENCIES

• Manages Complexity - Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems; For example, quickly determines the most critical data and focuses analysis there; recognises even subtle symptoms that indicate problems; probes deeply for root causes; uses systematic problem-solving methods
• Instills Trust - Gains the confidence and trust of others through honesty, integrity, and authenticity; For example, consistently adheres to organisational policies and practices, even when they are unpopular or inconvenient; Builds trust by honoring commitments and by being open and honest at work
• Optimises Work Processes - Knows the most effective and efficient processes to get things done, with a focus on continuous improvement; For example, uses metrics and benchmarks to monitor accuracy and quality; Takes steps to make methods productive and efficient; Promptly and effectively addresses process breakdowns
• Action Oriented - Takes on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm; For example, takes immediate, decisive, independent action to resolve issues or problems; Persists as needed; Quickly and consistently identifies and pursues beneficial new opportunities
• Collaborates - Builds partnerships and works collaboratively with others to meet shared objectives; For example, readily involves others to accomplish goals; stays in touch and shares information; discourages "us versus them" thinking; shows appreciation for others' ideas and input
• Ensures Accountability - Holds self and others accountable to meet commitments; For example, holds self to high standards and consistently honours policies, procedures, and work requirements; Scrupulously ensures all work is correct
• Plans and Aligns - Plans and prioritises work to meet commitments aligned with organisational goals; For example, adopts a sequence of activities that allows for optimal efficiency and effective coordination with others; Makes skillful use of resources and support to deliver efficient, high-quality work
• Communicates Effectively - Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences; For example, seeks out others' perspectives and asks good questions; Shares information that people want to know; gives appropriate context and details when speaking

TECHNICAL COMPETENCIES

• Data Collection, Analysis, Review and Reporting - Works without supervision and provides technical guidance when required on analysing data trends for use in reports to help guide decision making; Works without supervision and provides technical guidance when required on reviewing and creating relevant, lucid and effective reports
• Policy, Regulation and Procedures - Works without supervision and provides technical guidance when required on interpreting and applying knowledge of laws, regulations, policies and procedures in area of expertise
• Compliance Management - Works without supervision and provides technical guidance when required on achieving full compliance with applicable rules and regulations in management and / or operations
• Planning and Organising - Works without supervision and provides technical guidance when required on planning, organising, prioritising and overseeing activities to efficiently meet business objectives
• Verbal and Written Communication - Uses clear and effective verbal and written communications skills without supervision and provides technical guidance when required on expressing ideas, requesting actions and formulating plans or policies
• Computer Skills - Supports business processes without supervision by understanding and effectively using standard office equipment and standard software packages, while providing technical guidance as needed
• Masters Service Conversations - Works with full competence to navigate customer conversations by leveraging the four parts of a service conversation: open, learn, reply, and close
• Typically works without supervision and may provide technical guidance
• Confirms customer satisfaction; Confirms understanding; Delivers unwelcome or unexpected news; Documents service-interaction efforts; Gains customer confidence and cooperation; Highlights positive outcomes; Leverages open and closed questions; Manages scope creep; Provides alternatives when an item is out of stock or unavailable; Recognises conversation barriers; Shares clear and correct information; Uses appropriate tone of voice
• Navigates Customer Challenges - Works with full competence to navigate conversations in which the customer is frustrated or unhappy with the organisation
• Typically works without supervision and may provide technical guidance
• Assists multiple customers simultaneously; Defuses customer tension; Explains and addresses customer issues; Keeps promises made to the customer; Listens nondefensively to angry / upset customers; Offers appropriate goodwill gestures; Prepares for commonly encountered customer challenges
• Assessment - Works without supervision and provides technical guidance when required on analysing data from multiple sources to draw appropriate conclusions and make suitable recommendations

GENERAL EDUCATION

• University (First degree) in Accountancy, Banking, Business or Law, or relevant professional qualification in financial services or audit
• Possessing any of the following certifications is mandatory:
• Association of Certified Anti Money Laundering Specialists (ACAMS)
• Certified Information Systems Auditor (CISA)

GENERAL EXPERIENCE

• At least 3 years Compliance experience to be able to work unsupervised
• Experience should include:
• Knowledge of government laws and regulations affecting Interswitch's business area
• Ability to interpret laws and regulations in light of operations
• TASKS
• This is a list of possible tasks that could form part of the job: Assisting the Team Lead, Compliance with the updating of training programmes / manuals tailored to the Business needs, to reflect the most updated regulation changes
• Carrying out research of legislation relevant to Interswitch's business lines as well as drafting of summaries
• Assisting with the implementation of the Interswitch approved Compliance risk-based customer onboarding and monitoring process
• Identifying deficiencies in compliance measures and recommending appropriate remedial action plans to the Team Lead, Compliance
• Identifying potential areas of compliance vulnerability and risk; in collaboration with the concerned business areas and recommending action plans for resolution of problematic issues to the Team Lead, Compliance
• Carrying out the review of new regulations affecting Interswitch and work with Team Lead, Compliance in developing a Compliance plan in that regard for approval
• Monitoring the adoption of business specific Rule Book by the business teams and providing progress report to the Team Lead, Compliance
• Analysing and identifying Compliance risks, processes, controls and provide escalations to Team Lead, Compliance