Compliance Business Advisory at ABSA Bank Limited

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ABSA Group Limited Jobs 2024

About Us

Truly African
We are a diversified standalone
African financial services group, delivering an integrated set of
products and services across personal and business banking, corporate
and investment banking, wealth, investment management and insurance.

Absa
Group Limited is listed on the JSE and is one of Africa’s largest
diversified financial services groups with a presence in 12 countries
across the continent and around 41 000 employees.

Absa Group Limited
is listed on the JSE and is one of Africa’s largest diversified
financial services groups with a presence in 12 countries across the
continent and around 41 000 employees.

We
own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius,
Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in
Tanzania and National Bank of Commerce), Uganda and Zambia. We also have
representative offices in Namibia and Nigeria, as well as insurance
operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and
Zambia.

Compliance Business Advisory
Compliance Business Advisory at ABSA Bank Limited April 2024

• locations Absa House – ABT
• time type Full time
• job requisition id R-15963866

Empowering Africa’s tomorrow, together…one story at a time
With
over 100 years of rich history and strongly positioned as a local bank
with regional and international expertise, a career with our family
offers the opportunity to be part of this exciting growth journey, to
reset our future and shape our destiny as a proudly African group.

My Career Development Portal:
Wherever you are in your career, we are here for you. Design your
future. Discover leading-edge guidance, tools and support to unlock your
potential. You are Absa. You are possibility.

Job Summary
CIB Compliance requires a CIB dedicated Compliance Officer in country
who will support the business for CIB products as well as engage with
Absa CIB on compliance matters.
The Compliance officer will be required to:
• Manage delivery of all monthly and Quarterly Compliance reports to Line Management and Business.
• Provide adequate support to the Africa Sales and Trading, and Investment banking teams.
•
Report on the level of compliance with internal policies and
procedures, applicable laws, regulations and rules impacting the
businesses.
• Implement and manage specific regulatory compliance projects.

Job Description
Main accountabilities and approximate time split
Accountability
Operational duties – 80%
Outputs:

• Provide
  Compliance support to the Africa Sales &Trading and Corporate and
  Investment Banking teams, which may include projects and/or transactions
• To
  provide proactive advice on transactions, conflicts, new products and
  business initiatives within the Corporate and Investment banking and
  Trading areas.
• Provide Compliance guidance on Sales and Trading matters
• Deliver other Compliance related projects as and when directed
• Interaction with local regulators
• Interpretation of statutes and regulations
• The ability to translate compliance requirements from legislation into business processes/procedures
• Ability to apply legislative requirements to the approval and roll out of new products
• Enhance and promote a compliance culture through awareness activities
• Achieve the compliance coverage plan as contracted with the in-country Compliance Director and CIBW Head of Compliance
• Advise business on compliance issues and providing of compliance opinions
• Implement, embed and monitor CIB compliance policies, processes and methodology in the business operations.
• Create and build a compliance presence in the business
• Participate
  in the new product initiative process by reviewing new product
  proposals for compliance against local regulatory requirements and
  providing the in-country Compliance Director and CIB Head of Compliance
  with a report on these requirements.
• Ensure that business addresses concerns raised by the Regulator /delivers on commitments made to the Regulator
• Implement and comply with BIA Audit recommendations
• Follow up on any compliance related findings or action items
• Advise business on any changes in set standards/ local requirements (throughout the year)
• Identify business impact for new regulatory requirements and escalate upwards as necessary
• Provide
  clear, accurate and timely responses to in country Compliance Director
  and CIB Head of Compliance requests and requests from management for
  input on new initiatives and projects thereby providing a superior
  service which protects and enhance reputation of compliance function
• Act as point of contact between business and Compliance department.
• Ensure timely completion of deliverables stipulated in the CIB compliance scorecard.

Accountability
Reporting – 10%

• Provide updates on projects and business as usual activities
• Submit
  reports to the in-country Compliance Director and CIB Head of
  Compliance on areas covered, findings and appropriate recommendations
  for improvement as required so as to assist the business to operate
  according to the various regulatory requirements applicable
• Provide
  management, in country Compliance Director and CIB Head of Compliance
  with quantitative and qualitative reports on progress achieved in terms
  of coverage plan
• Deal appropriately with compliance issues and escalate issues in an appropriate manner to the relevant persons.
• Produce
  quality reports with issues identified with supportive business focused
  recommendations, and submit to senior management, in country Compliance
  Director and the CIB Head of Compliance
• Complete & submit
  accurate & timeous compliance returns and regulatory and reports
  (monthly, quarterly, yearly) to the in-country Compliance Director and
  CIB Head of Compliance

Accountability
Stakeholder Management – 10%

• Effectively
  manage in country compliance relationships with Corporate and
  Investment Banking Teams or any other internal stakeholder.
• Deliver valued and value-for-money advice and guidance to Corporate and Investment Banking Teams on all compliance issues.
• Keep
  the in-country Compliance Director and CIB Head of Compliance informed
  on compliance matters which may pose financial or reputational risks for
  the business.
• Attend relevant in country meetings, and assist forums in identifying and comprehending the regulatory compliance risks
• Communicate regulatory issues/concerns with internal stakeholders and line management
• Develop and implement programme of regular meetings with internal stakeholders (quarterly formal meetings)
• Assist business to draft correspondence and presentations to the Regulator.
• Ensure
  to always improve on communications with business through innovative
  thinking and approaches in line with Absa expectations

Risk and Controls Objectives
Ensure
that all activities and duties are carried out in full compliance with
regulatory requirements, Absa Operational Risk Framework and internal
Absa Policies and Standards

Manage risk and control effectively by applying applicable risk frameworks and embedding a positive risk culture

• Understanding of own role in the end to end processes in which you play a part, including applicable risks and controls.
• Adhere to Absa’s policies and procedures applicable to own role, demonstrating sound judgement and responsible risk management.
• Report
  all risk events / incidents / issues using the defined process for your
  business area and help to understand why these happened and how to
  prevent them in future.
• Proactively look for ways to improve
  the control environment by considering what could go wrong in the
  processes you operate and how errors could be prevented.All mandatory
  training completed to deadline

Key Success Measures / Key Performance Indicators
 Pursue your own development to increase personal effectiveness and acknowledge strengths and areas of development.
 Set annual performance development objectives with the Head of Compliance Business Advisory

Technical skills / Competencies

• Intellectual
  and analytical skills of a high order. He/she is likely to be a
  graduate and / or have a professional qualification.
• The
  strength of character, credibility and personal presence and the
  communication skills to operate confidently and effectively at senior
  levels both internally and externally.
• The flexibility to
  appreciate the commercial objectives of the business, coupled with an
  ability to challenge, independently and constructively, senior
  management, peers or other staff where appropriate, to insist upon
  adherence to the highest standards of business practice and to the
  requirements of relevant authorities. Tact and sensitivity as well as
  strength and authority are important.
• Ability to use initiative
  and work with minimum supervision but ensuring, at the same time, that
  the line reports are kept fully informed at all times.
• Ability
  to consider issues from a range of angles and propose creative solutions
  that assist the business in achieving its goals in a safe, compliant,
  and controlled manner.
• Ability to communicate effectively,
  orally and in writing, with senior internal and external audiences – to
  educate, persuade, negotiate, gain decisions, enforce.
• Ability to influence senior management.
• Ability to make a real contribution in a rapidly changing environment and thrive on change and the need to learn rapidly.
• Being
  able to effectively liaise with Absa CIBW compliance to solution
  projects and facilitate transaction approvals and BAU Business Skills

Knowledge, Expertise and Experience
Essential

• At least a relevant Bachelors degree preferably Bachelor of Laws ( LL.B) degree or other relevant tertiary qualifications
• At least three years compliance experience in a financial services environment.
• Experience in policy setting and roll out.
• Technical Knowledge – basic understanding of investment banking products including Bonds, Commercial paper, Loans, Derivatives

Preferred

• Relevant master’s degree
• Four years of compliance experience in a financial services environment

Absa Values

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