Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

At OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose- building something unique and aspirational, always aiming to be the best they can be.

We are rooted in our purpose to inspire and enable our customers to grow and sustain their prosperity.

ROLE OVERVIEW

 The role is best suited to a candidate that has extensive skill and experience in compliance and conduct risk management practices and processes. The role requires an individual who has a keen interest in adopting an Innovative approach to compliance and conduct risk management.

Someone who is passionate about being a trusted collaborator to the organisation and has a willingness to learn and support the organisation in the delivery of its strategic and operational objectives, while promoting, maintaining and protecting the integrity of OM Bank from a regulatory and conduct perspective.

 

KEY RESULT AREAS

The successful incumbent will:

Report into the Head of Regulatory and Conduct Risk ManagementAssists in the establishment of an effective compliance function, framework and core processes for the bank.Participates in activities that drive a strong culture of compliance and internal control.Assist with the development of key compliance policies and standard operating procedures.Provides regulatory and conduct advisory support to business and where necessary, with support from the legal function.Assists with regulatory change and commentary processes.Supports with the maintenance of the Bank’s Regulatory Universe and the governance in relation to this maintenance.  Undertakes research initiatives to determine best practice in relation to the management of regulatory and conduct risk management and share insights with stakeholders.Collaborates with business in the assessment of compliance risk based on impact and likelihood methodology.Collaborates in the identification and recommendation of controls to mitigate regulatory and conduct risk.Undertakes compliance assurance activities aimed at testing the efficacy of regulatory and conduct controls implemented in business as second line assurance. This includes the drafting of review reports and engagement with stakeholders in relation to findings and recommendations for remediation.Assist with the identification and roll-out of training and educational needs regarding compliance practices and make recommendations and assists with the development of training content with respect to legislative training.Assists with regulator and assurance and other audit reviews; and oversees and tracks compliance remediation initiatives executed by business as first line.Assist with the production of reports relating to the compliance posture of OM Bank for the various structures within the compliance governance framework including senior management, Executive Committee, Board sub-committees, the Board and regulatory bodies such as the PA, FSCA, SARB.  

ROLE REQUIREMENTS

 

5-8 years in a similar role in the Financial/Regulatory/Banking sectorA relevant Bachelors degree that includes legal, compliance,  governance, commerce  and/or a senior compliance qualification. (BCOM; BCOM(LAW); LLB)CPRAC is recommended but not a pre-requisite ;RE5 and RE1 recommended but not a pre-requisite;Understands the core principles of an effective compliance function.Experience in the Legal and/or Compliance environment within banking.Have an understanding of and an ability to implement compliance and governance requirements.Has detailed knowledge of the legislative and regulatory environment of the financial sector with specific emphasis on banking legislation such as the Banks Act, FAIS, FICA, NCA, POPIA.Direct exposure to and a keen interest in competitive compliance practices is recommended.Word, Excel and Powerpoint skills. Excellent report writing skills.

Behavioural Attributes

Excellent negotiation skillsAbility to collaborate with and influence stakeholdersGreat listening skillsAbility to manage conflictsAbility to manage self and othersHighly organised and methodical with close attention to detail.Team player

Identify, evaluate, monitor and communicate the organizational QA, Risk and Compliance management activities to manage the organizations exposure to risk. Ensure that the organizations risk and compliance management framework and component policies are effectively implemented and applied.

ResponsibilitiesRegulatory and Compliance Management

Help design and implement a compliance program, liaising with the regulator to ensure the program adheres to regulatory and compliance standards. This may also involve supervising the activities of a regulatory/compliance team.

Regulatory Affairs

Take responsibility for managing and delivering a designated work program.

Quality Management System

Identify, analyze, and evaluate the effectiveness of current policies and business processes that are in the scope of the quality management system (QMS); contribute to the design of the QMS; provide specialist quality management oversight to the drafting of new policies and procedures and the design of business processes; contribute to the quantification of the costs and business benefits of change.

Audit Compliance

Manage a portfolio of audit assignments. Ensure that the team plans and delivers audits that cover identified risk areas, and that appropriate corrective actions are agreed on with auditees. Resolve issues arising from audits and refer serious or contentious issues to the audit program leader.

Quality Assurance Testing Design

Validate new or existing complex test methods and procedures; identify issues and recommend improvements to contribute to further development.

Stakeholder Engagement

Contribute to stakeholder engagement by identifying stakeholders; by finding out their needs, issues, and concerns; and by reacting to these needs, issues, and concerns, arranging meetings and events and drafting supporting materials to promote understanding and commitment.

Leadership and Direction

Communicate the local action plan; explain how this relates to the function's strategy and action plan and to the broader organization's mission and vision; motivate people to achieve local business goals.

Performance Management

Respond to personal objectives and use performance management systems to improve personal performance; or monitor the performance of the team, allocate work and review completion, take appropriate corrective action to ensure timeliness and quality, and contribute to formal individual performance management and appraisal.

Organizational Capability Building

Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Budgeting

Deliver a budget for an area of the organization or conduct complex analyses on budget progress in other areas of the organization.

Skills

Compliance Software, Data Compilation, Engineering Standards, Executing Plans, Legal Practices, Performance Management Design, Policies & Procedures, Procurement Performance, Project Quality Management, QA Methodologies, Regulatory Compliance Management, Requirements Development

Competencies

Balances StakeholdersCommunicates EffectivelyFinancial AcumenInstills TrustInterpersonal SavvyManages AmbiguityManages ComplexityOptimizes Work Processes

Education

NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

25 March 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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