Compliance Manager Financial Crime

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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 of inspiring and enabling our customers to grow and sustain their prosperity.

ROLE OVERVIEW

The role is best suited to a candidate that has a comprehensive skill set and experience in compliance risk management practices and processes in relation to financial crime compliance. The role requires an individual who has a keen interest in adopting an innovative approach to compliance 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 perspective.

KEY RESULT AREAS

The successful incumbent will:

• Report into and support the Head of Financial Crime in ensuring that OM Bank establishes and maintains processes and procedures in compliance with financial crime legislation.
• Create and maintain financial crime regulatory universe and keep abreast of regulatory and industry changes.
•  Pro-actively identifies, assesses, reports and mitigates financial crime compliance risks across the bank.
• Assists with the maintenance of the financial crime related policies and standards, where required.
• Enforces and upholds the banks compliance standards. Participates in activities that drive a strong culture of compliance and internal control.
• Advises business on financial crime related requirements and provides recommendation to meet regulatory expectations. Including responding to queries from business and FRAML on financial crime.
• Manages compliance monitoring in relation to Financial Crime legislation and policies, with emphasis on customer due diligence and enhanced due diligence in the client onboarding process, ongoing DD, verification of KYC documentations or verification protocols
• Tracking and reporting on client remediation and assurance findings remediation;
• Assist in the production of reports for the various governance structures on compliance monitoring findings.
• Regulatory reporting including STR, CTR etc, FATCA and Exchange Control reporting.
• Identifies and assists with training and educational needs regarding financial crime compliance practices and make recommendations and assists with the development of training content with respect to prescribed legislative training
• Assists with regulatory change and commentary processes.

ROLE REQUIREMENTS

• Minimum 5 years’ experience in a similar role in the Financial/Regulatory/Banking sector
• A relevant Bachelors degree that includes legal, compliance, commerce and governance and/or a senior compliance qualification. (BCOM; BCOM Law, LLB)
• Understands the core principles of an effective compliance function.
• Monitoring experience
• CPRAC is recommended but not a pre-requisite.
• Has held a role in a Financial Crime Compliance environment within the banking sector with exposure to financial crime legislation including FICA, FAFT recommendations and prescripts, PROCDATA, FATCA, Exchange Control
• Monitoring and report writing skills
• Word, Excel and Powerpoint skills.

Behavioural Attributes

• Excellent negotiation skills
• Ability to collaborate with and influence stakeholders
• Great listening skills
• Ability to manage conflicts
• Ability to manage self and others
• Highly organised and methodical with close attention to detail.
• Team player and collaborator
• Problem solving mindset
• Works well in a dynamic environment and manages stress
• Self-motivated
• Learning mindset

Manage a team of fraud analysts and fraud specialists in order to formulate anti-fraud policies in a specific area, such as digital, anti-terrorism, or money laundering. Manage and deliver fraud-prevention reporting and analysis to mitigate fraud risk. Take action to improve systems and procedures, resolve issues, and limit consequential damage.

Responsibilities

Fraud/Financial Crime Management

Manage the delivery of fraud/financial crime prevention and monitoring activities within a significant area of operations, such as digital, anti-terrorism, or money laundering, to minimize the risk of financial losses or reputational harm in line with the organization's fraud management policies and procedures.

Fraud/Financial Crime-Management Systems Development

Develop fraud prevention policies and procedures and guide the development of related systems to enable the organization to prevent fraud/financial crime, detect and investigate suspicious activity, and mitigate the risks of losses or reputational harm.

Fraud/Financial Crime Investigation
Investigate very complex or unusual cases of suspected fraud or financial crime. Clarify the scope of the investigation, identify lines of inquiry, and gather and retain information and physical or electronic evidence to support criminal investigation and/or legal action, engaging specialist investigators or authoritative subject-matter experts where necessary. Review the evidence gathered and recommend appropriate action to the organisation.

Organisational Risk Management

Manage a significant portion of the organization's risk management and/or risk control processes. This includes contributing to the development and implementation of risk management policies and procedures.

Horizon Scanning
Identify new external developments and/or emerging issues within an area of technology or business function and evaluate their potential impact on, or usefulness to, the organisation.

Leadership and Direction
Identify and communicate the actions needed to implement the function's strategy and business plan within the business area or department; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these tenets and do extraordinary things to achieve local business goals.

Performance Management
Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project/account team members and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of team/personal objectives.

Policy Development and Implementation
Develop procedures and interpret and apply policy for area of expertise to achieve specified outputs, or advise the wider business on application of policy, then monitor implementation of those procedures within the organization.

Organizational Capability Building
Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions, including continuing professional development specified by professional or regulatory institutions, to build their professional capabilities. Provide informal training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.

Budgeting

Develop and/or deliver budget plans with guidance from senior colleagues.

Operational Compliance

Monitor and review performance and behaviors within area of responsibility to identify and resolve noncompliance with the organization's policies and relevant regulatory codes and codes of conduct.

Skills

Adaptive Thinking, Cultural Awareness, Data Analysis, Data Collection Methods, Data Controls, Financial Auditing, Information Management, Oral Communications, Planning and organisational skills, Policies & Procedures, Risk Based Approach, Risk Management

Competencies

Builds Effective TeamsBusiness InsightCollaboratesCommunicates EffectivelyCultivates InnovationDecision QualityEnsures AccountabilityFinancial Acumen

Education

NQF Level 9 – Masters (Required)

Closing Date

26 February 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.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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