Regulatory Compliance Specialist

Regulatory Compliance Specialist

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Bank

Discovery Bank is a bank like no other – a shared-value bank, designed with our clients in mind. We are all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If you are adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that’s safe and nurturing.

Job Purpose

The Regulatory Compliance Specialist develops, implements and oversees the regulatory compliance strategies of the bank. Assists in the establishment of an effective compliance function, framework and core processes for the bank.

Areas of responsibility may include but not limited to

• Initiates the development of key compliance policies and standard operating procedures
• Ensures that these policies and procedures are consistent with the approvals of various boards
• Identifies training and educational needs regarding compliance practices and make recommendations and develop training content
• Ensures compliance with industry regulatory standards
• Implements core Compliance principles, frameworks, processes, systems and platforms
• Implements Compliance Risk Management Framework, reviews Regulatory Universe and implementation of the Compliance Risk Management Plans and control gap analysis.
• Has an ability to advise on the establishment of effective Compliance frameworks, structures and core processes and the establishment and embedment of the same in relation to the core systems and platforms of the proposed Banking business.
• Compiles compliance reports for Management and relevant Bank committees.
• Assists with Regulator and Audit reviews and oversee compliance actions.
• Assist with Regulatory Change and commentary processes in Discovery Bank.

Skills

• Required:
  • Have an understanding of and an ability to implement Compliance governance
  • Have an understanding of the legislative and regulatory requirements impacting the South African Banking Sector
  • Have detailed knowledge of the legislative and regulatory environment and reporting requirements imposed by South African Regulators (SARB, FSCA and NCR) specifically in relation to the Banks Act, FAIS and NCA.
• Preferred:
  • Microsoft word, excel and power point.

Qualifications

• Required:
  • A Legal degree, a Bachelors degree and or a compliance qualification
  • Have an understanding of the core principles of an effective Compliance function.

Work Experience

• Required:
  • At least 5 years Compliance experience in the financial services industry.
• Preferred:
  • Retail Banking experience advantageous

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.