Compliance Officer

The role is responsible for providing compliance support across the institution by assisting with monitoring regulatory adherence and supporting the development of a culture of compliance. The role identifies and reports potential compliance risks or gaps in business processes, products, and transactions.

Key Responsibilities

KEY PERFORMANCE AREAS

Assessment and Management of Compliance Risk

• Guide business units in the implementation of compliance requirements across operational, investment, and support functions.
• Support the development of a culture of compliance through practical, solution-oriented advice.
• Monitor compliance and contribute to reducing the compliance risk exposure of the Bank.
• Keep abreast of the latest industry developments, technologies, and best practices to maintain a high level of competency and innovation.
• Support continuous improvement through identifying opportunities to enhance processes, products, or services, leveraging technical knowledge, creativity, and industry insights.

Monitor Regulatory and Internal Compliance

• Conduct reviews of business processes, documentation, and records to assess levels of regulatory compliance.
• Identify potential breaches, emerging risks, and control weaknesses, and recommend corrective actions.
• Track and monitor implementation of regulatory changes and internal policies.
• Provide input into compliance and audit reports in respect of audit issues/matters for the Audit & Risk Committee and other governance structures.

Develop and Implement Compliance Policies & Frameworks

• Participate in compliance risk assessments and control testing to enhance risk mitigation.
• Guide business units in maintaining compliance registers and reporting systems.
• Advise business units of compliance best practices and new developments.

Compliance Awareness and Reporting Capacity

• Support the delivery of training and awareness initiatives on compliance and ethical conduct.
• Prepare compliance reports and inputs for governance committees, regulators, and internal stakeholders.
• Collaborates with legal, ethics, financial crime, and business units to promote integrated compliance outcomes.
• Provide reports to ensure that compliance risks are considered and dealt with effectively and promptly.

Reporting and Data Analytics

• Generate detailed and insightful reports and analyses that support strategic decision-making and drive organisational improvement.
• Collect, process and interpret complex data using advanced analytical techniques and tools.
• Develop reports and dashboards tailored to the specific needs of stakeholders, presenting data in a clear, concise, and actionable manner using visualisations and other aids as necessary.
• Identify trends, areas of improvement and key insights that influence strategic planning and operational adjustments.

Stakeholder Management

• Engage and collaborate with key stakeholders to align expectations, gather insights, and ensure successful outcomes.
• Build relationships, communicating clearly and consistently, and addressing stakeholder needs and concerns with responsiveness and professionalism.

Key Measurements of Outputs

• Number and quality of compliance reviews, assessments, and advisory interventions
• Timeliness and accuracy of compliance risk reporting
• Level of regulatory breaches identified and resolved
• Contribution to policy interpretation and compliance training
• Clean Audit

INTERNAL LIAISON RELATIONSHIP (*The list is not exhaustive)

• Head: Compliance & Financial Crime

• Management Committees

• Credit Committees

• Group Risk

• Legal

EXTERNAL LIAISON RELATIONSHIP (*The list is not exhaustive)

• Investment partners

• Regulatory bodies

• Service providers

• 3rd parties

Expertise & Technical Competencies

QUALIFICATIONS AND EXPERIENCE

Minimum Qualification

• A Degree in Law, Finance, Accounting, Risk Management or Economics.
• Member of the Compliance Institute of Southern Africa.

Minimum Experience

• A minimum of 5 years experience in a compliance, legal, or regulatory risk function, preferably within a financial institution, development finance institution, or a state-owned entity.
• Experience in interpreting legislation and applying compliance frameworks across business units.
• Experience in monitoring, advisory, or control development functions.
• Familiarity with regulatory bodies such as the Prudential Authority, Financial Intelligence Centre (FIC), etc.
• Proven experience in end-to-end compliance management.
• Thorough understanding of regulatory requirements, industry practice, and risk management.

Desirable Requirements

• Exposure to public sector or development finance environments.
• A certification in compliance.

TECHNICAL COMPETENCIES

Solution Focus

• Identifies optimal solutions based on weighing the advantages and disadvantages of alternative approaches.
• After implementation, evaluate the effectiveness and efficiency of solutions.

Compliance Risk Management

• Establishing and embedding a compliance culture in the DBSA and its Business Units.
• Identify and assess regulatory universes and draft compliance risk management plans for high-risk legislation.
• Interact with internal and external bodies such as Risk Management, Internal Audit, Legal Services, Regulators and Industry Bodies to identify and manage compliance risk.
• Assist the Manager: Compliance in developing appropriate compliance policies and frameworks.
• Provide guidance to DBSA Management to execute compliance strategies and manage their portfolios effectively.
• Oversee the implementation of compliance management practices for allocated portfolios.
• Establishes, communicates and facilitates the consistent use of appropriate compliance methodologies, tools, templates and techniques.
• Works with Business Divisions and Units to establish, maintain and continuously improve compliance management capabilities.
• Facilitates compliance assessments and monitors priority compliance matters across the Organisation.
• Ensure that there are sufficient compliance execution capabilities within the Organisation.
• Provide input and support to group and divisional compliance initiatives.
• Coordinate and ensure maintenance of the compliance universe.
• Effectively contribute to reducing the compliance risk exposure of the Bank.
• Ensure that Compliance activities are undertaken for all areas and projects of the Bank.
• Partner with relevant Stakeholders within the Divisions to effectively manage risk.
• Re-engineer business processes to be fully compliant with legislation.

Compliance Risk Monitoring

• Compiles Business Unit-specific plan that ensures that the Business Units comply with the applicable legislative requirements and regulations.
• Compiles submissions to relevant Regulators.
• Reviews and monitors compliance processes and compliance with regulations and legislation.
• Establishes processes to identify instances of noncompliance and reports on non-compliance and any process deviations to senior management.
• Reports as necessary to ensure that compliance risks are considered and dealt with effectively and in a timely manner. All risk reporting must be of the highest quality.

Required Personal Attributes

BEHAVIOURAL COMPETENCIES

Analytical Thinking

• Analyses and interprets multiple complex causal links: several potential causes of events, several consequences of actions, or multiple-part chains of events in order to prioritise and develop a plan of action.

Attention to Detail

• Double-checks the accuracy of information or work.
• Ensures that the work produced doesn’t contain any errors.

Integrity

• Takes pride in being trustworthy, serves all equally, respects others and embraces diversity.
• Is honest in all relations (internal/external relations).

Teamwork & Cooperation

• Values and utilises the expertise of colleagues, asking for ideas and input and collaborates to form decisions and plans.
• Willingly learns from others.
• Creates opportunities for knowledge and expertise sharing between all members of the team.

Information Seeking and Analysis

• Analyses relationships among several parts of a problem or situation.
• Anticipates obstacles and thinks ahead about next steps in detail.

• The KPA’s, competencies and relationships listed in this document are not exhaustive, and the incumbent will be expected to undertake additional duties within their capacity to meet the needs of business and/or the business unit.