Investment Compliance Specialist

Through our client-facing brands and our other specialist brands, Momentum Group enables business and people from all walks of life to achieve their financial goals and life aspirations.

We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Group provides practical financial solutions for people, communities and businesses.

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Role Purpose

Oversee the implementation and ongoing maintenance of processes and procedures to ensure investment compliance within Momentum Investments. This includes adherence to statutory, supervisory, internal, and client-mandated investment restrictions applicable to portfolios managed and administered by the various legal entities.

Requirements

• A relevant degree (BCom with a specialization in finance or investments, BCom Law, or LLB with applicable compliance experience) and/or compliance qualifications are required.
• An advanced qualification such as a BCom Honours, MBA, CFA, or Postgraduate Diploma in Compliance is advantageous.
• In-depth knowledge of Investment Securities and Investment Markets is essential.
• Experience with Regulation 28 and SARB asset allocation reporting is mandatory.
• At least 3–5 years of relevant compliance or risk management experience, including interpreting and applying investment limitations in areas such as:
• Retirement Funds (Pension Funds Act – Reg 28)
• Insurance Act
• Collective Investments Schemes Act
• Collective Investment Schemes environment (CISCA – BN90)
• ASISA Codes, Standards, and Guidelines
• Medical Schemes Act – Reg 30
• Internal and Client Mandatory Limits
• LISP environment
• Asset Management environment
• Long-Term Insurance environment
• Other relevant legislation
• Must comply with FAIS honesty and integrity requirements and not be an unrehabilitated insolvent, nor have entered into a compromise with creditors, or been provisionally sequestrated or liquidated.
• Experience in most of the listed areas is required, though familiarity with all is advantageous.

Duties & Responsibilities

Providing Assurance

• Review and maintain the Investment Compliance Universe: Contribute to the review and accurate maintenance of the Investment Compliance Universe for Momentum Investments specific to this role. Ensure that all relevant investment limitations, both new and amended, are identified, classified, risk-rated, documented, and linked to the appropriate client accounts. Maintain these details accurately in the compliance systems used by Momentum Investments.
• Review and update Investment Compliance policies: Participate in the annual review of critical Investment Compliance policies related to this role. After making any necessary amendments, submit the updated policies to the Head of Compliance and Risk Attribution for review and approval by the relevant forum. Maintain the Investment Compliance Policy Register accurately.
• Develop and monitor Investment Compliance Monitoring Plan: Engage in the review and development of a comprehensive Investment Compliance Monitoring Plan to ensure its accuracy and completeness. Monitor all relevant investment limitations for the assigned portfolio universe on a regular post-trade basis, and, where practical, on a pre-trade basis.
• Manage compliance breaches: Contribute to and implement the compliance breach management process, including identification, analysis, resolution, and escalation procedures. Ensure the process addresses all aspects of compliance breaches effectively.
• Ensure accurate compliance reporting: Contribute to and implement the process for reporting compliance activities and instances of non-compliance, ensuring reports are relevant, complete, accurate, and timely.
• Oversee outsourced compliance functions: Contribute to and maintain oversight of any outsourced activities and independent investment compliance functions performed by legal entities within Momentum Investments.
• Engage with stakeholders: Contribute to and maintain regular interactions with internal and external stakeholders, as well as the broader compliance community within the MMI Group. Key stakeholders include regulators, supervisors, industry bodies, internal and external audit teams, and clients.
• Support statutory projects: Contribute to and participate in the initiation and implementation of critical statutory projects related to Investment Compliance.
• Statutory reporting: Responsible to review and oversee regulatory asset classification for statutory reporting i.e. Regulation 28, Regulation 30, SARB QAAR and CISCA.
• Data quality: Contribute to and maintain oversight of security and issuer database to ensure accurate compliance monitoring and downstream business reporting.

Providing Support Services

• Provide stakeholder support: Offer support services to all relevant stakeholders within Momentum Investments in the areas specific to this role, adding value to their operations.
• Deliver awareness and training: Contribute to and initiate awareness and training activities related to the areas assigned to this role. This includes informing the business about new investment compliance requirements, guiding on their potential impacts, and identifying compliance risks or weaknesses for which additional mitigating actions, processes, or procedures may be necessary.
• Offer professional advice and guidance: Provide professional advice and guidance to the business as needed or requested, specifically in the areas assigned to this role.
• Support project implementation: Participate in and contribute to the support of business projects that require compliance input, ensuring their successful implementation.

People

• Human Capital and Skills Development Management: Oversee the management of human capital, including skills development and knowledge sharing.
• Foster skills development and knowledge sharing: Contribute to and initiate activities that promote skills development and knowledge sharing within the team, including disseminating expertise across the broader compliance team.

Competencies

• Motivated and Tenacious
• Reliable and Service-Oriented
• Innovative and Creative
• Self-Starter and Decisive
• Team Player with Emotional Intelligence
• Flexible and Adaptable
• Influencing and Assertive
• Attention to Detail and Reporting Skills
• Relationship Management and Networking
• Business Writing and Communication Skills
• Project Management
• Advanced MS Office Proficiency – advanced Excel skills advantageous
• Specialist Investment Compliance Software Experience: Familiar with investment compliance monitoring tools such as Statpro Compliance, Charles River Compliance, and NX Manager Compliance systems.