Summary
Date Posted: Thursday, July 14, 2022 , Base Salary: Not Disclosed

JOB DETAILS:
Job Summary
To work within a pressurized and high performing environment, to ensure that the Absa business is fully compliant with all regulations and that conduct, and reputational risks are proactively monitored and mitigated.
Oversee implementation of a compliance risk management plan that is fit-for-purpose. The plan requires an effective assessment of the regulatory, conduct and reputational risks in the business and the management thereof through effective implementation of governance, policies and standards, training, monitoring and ongoing assurance. This requires the compliance officer to be a trusted partner to the business whilst maintaining independence as a second line of defense.
The role also requires the incumbent to be proactive in anticipating and addressing risks, driving adherence to the Values of the Group, and being a role model for Compliance across the industry.
Manage regulatory relations and engagements in respect of the Absa Life Zambia business and work together with the business, Head of Regulatory Relations, and the Head of AFS Compliance on matters pertaining to the Absa Life Zambia business. Support with board engagements, board reporting, advisory compliance services, strategic projects, and reporting into the business MANCO’s. EXCO’s ERC’s and boards.

Mandatory Responsibilities and Competencies
• Assume the Compliance Officer role and be directly accountable to the board, the regulators and ensure that the Absa Life Zambia business is fully compliant with all laws/regulations, applicable policies, and that conduct, and reputational risks are proactively monitored and mitigated.
• Oversee implementation of a compliance risk management plan that is fit-for-purpose. Assessment of the regulatory, conduct and reputational risks in the business and the management thereof through effective implementation of governance, policies and standards, training, monitoring and ongoing assurance.
• Support the Managing Director and Head of AFS Compliance in the management of the compliance, conduct and regulatory risk.
• Manage regulatory relations and engagements with the regulators in respect of the business and work together with the Head of Regulatory Relations and the Head of AFS Compliance on matters pertaining to the Absa Life Zambia business.
• AFS Business Management
• Support the AFS Head of Compliance through development of and execution of the Compliance strategy
• Provide input to enhance the Compliance methodology
• Provide input into the RBB regulatory, conduct and reputation risk environment
• Share knowledge across the RBB business
• Compliance Advisory
• Drive the right behaviour, specifically adherence to the organizational Values, in the business through effective standard setting, advice, training, assurance, escalation, reporting and engagement.
• Clearly communicate the role and objectives of Compliance to the business.
• Maintain constructive regular engagement with relevant stakeholders, including business, other functions (including second and third lines of defence) and regulators.
• Provide accurate and timely compliance and regulatory advice to the business as a second line of defence.
• Provide relevant Compliance risk information reporting to management.
• Report and escalate policy and regulatory breaches and conduct or regulatory issues to appropriate stakeholders, which may include business management and regulators.
• Maintain a compliance training plan for the business and ensure effective execution of training, including face-to-face and e-learning.
Deployment of policies.
• Manage new regulatory requirements by evaluating regulations (local and international) identified as relevant to the business and provide an impact analysis relevant to the business. Address impacts, including policy amendments, business notifications and provision of training.
• Keep Business appraised of notifications distributed by the regulator impacting the business.
• Stakeholder Management
• Be the point of entry for interactions with each regulator regarding the business.
• Position and communicate compliance policies, requirements, and initiatives with the relevant stakeholders
• Actively drive a stakeholder management plan for all compliance and regulatory matters affecting the business
• Liaise with senior executive stakeholders and stakeholder groups
• Risk Management
• Be the accountable key conduct risk owner for the business
• Perform on-going monitoring of the business through stakeholder engagement, compilation, and assessment of management information, and tracking and analysis of issues.
• Maintain detailed conduct risk assessments for the business, identifying all regulations and assessing the regulatory risk.
• Maintain and assess regulatory risk MI for the business.
• Perform effective monthly assurance testing on key regulatory risks of the business.
• Review and provide input on the Compliance Risk Review coverage for the business. Review the coverage plan, the scope of each review, and conclusions and final report of each review.
• Assess the overall testing coverage on regulatory risk for the business and address deficiencies
• Governance
• Serve on appropriate risk and governance forums in the business and Compliance
• Report to relevant governance forums with overall conclusions on conduct, regulatory and reputational risks.

Education
• Bachelor’s Degree: Business, Commerce and Management Studies (Required)

Job Experience: No Requirements

Work Hours: 8

Level of Education: Bachelor Degree

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