Compliance Manager

Location: Cape Town, South Africa

Department: Compliance

Start Date: 01 April 2024

Closing date: 09 February 2024

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Core Functions

  • To oversee the group compliance requirements, implementation, and monitoring.

Details of Functions

  • Assuring compliance with the FSCA (Financial Service Conduct Authority) is always adhered to through close collaboration with stakeholders, key individuals, and external compliance officers.
  • Identify and brief key individuals and EXCO on all forthcoming regulation changes and impacts on the business.
  • Liaison with external compliance consultants.
  • Preparation of board packs and compliance reports every quarter.
  • Due diligence and review of third-party contracts including terms of business with various providers.
  • Ongoing compliance monitoring and onboarding checks of all advisory staff, fit and proper competency checks according to FSCA regulations.
  • Audit support – Provision of compliance requirements for internal and external audits.
  • Oversight of the compliance team responsible for all onboarding and compliance checks of all cases within Carrick, and review of case escalations.
  • Establish a culture of compliance by training all staff accordingly.
  • Complaints management.
  • Implementation and oversight of all aspects of anti-money laundering (AML) systems, including monitoring effectiveness and enhancing the controls and procedures where necessary.
  • Leading and executing a risk-based AML compliance program to ensure ongoing compliance with regulatory requirements.
  • Regular risk assessments and updates to Risk Management and Compliance Policy: such as identifying potential compliance risk and advising management to implement proper compliance programs to address any potential regulatory problems.
  • Review, update, and implement all policies and procedures to ensure accuracy and compliance with regulatory changes such as the Treating Clients Fairly, Risk Management Policy.
  • Monitor industry trends and developments and plan for potential changes.
  • Support company secretary on agreements and license applications/renewals where required.

Qualifications, Experience and Skills

  • Essential Qualification: Senior Certificate, Compliance Officer (recognised qualification).
  • Total Number of Years’ Experience: 5+ years’ experience in a compliance role.
  • Preferred qualifications include RE1, RE5, or any other qualifications associated with wealth management.
  • Computer literacy (MS Word, Excel, Outlook – intermediate).
  • Excellent communication skills (verbal and written).
  • Compliance role in financial services.
  • Must be a registered Compliance Officer with the FSCA.
  • Management experience of a compliance department with a clear understanding of both local and offshore compliance requirements for South African investors.

Personal Attributes

  • Good understanding of the South African and offshore compliance framework / risk management.
  • Legal business contract drafting / amendment.
  • Building strong stakeholder relationships.
  • Strong ability to prioritise multiple projects and deadlines.
  • Attention to detail.
  • Excellent communication skills across a range of levels in the business.
  • Good understanding of MS Office Suite.