Compliance Review Officer

  • Full Time
  • Lilongwe
  • Applications have closed

Standard Bank

Job Purpose

  • To ensure that the bank implements all aspects of compliance (risk) frameworks, policies and processes.

Key Responsibilities/Accountabilities

  •  Ensure that line management promote an effective compliance culture in discharging their responsibility in complying with the applicable internal standards and policies, statutory, regulatory and supervisory requirements.
  •  Participate in the bank’s business processes (including new product and project development), meetings, initiatives and committees – to ensure that any compliance requirements are appropriately considered.
  •  Assist line management in avoiding sanctions relating to market conduct including Know-Your-Customer and Anti-Money Laundering requirements and management of conflicts of interest.
  • Set compliance related standards and guide management to comply with applicable regulatory requirements through compliance training or the facilitation thereof.
  • Escalate any conflicts between local laws and regulations and Group minimum requirements as contained in policies and standards to SBAF Risk to allow effective resolution of these conflicts.
  • Create and maintain the regulatory universe in consultation with the bank’s executive team.
  • Interpret and communicate relevant regulatory requirements applicable to the operating divisions and identify potential implications thereof – develop risk management plans in collaboration with the bank’s executive team.
  • Maintain an effective compliance manual.
  • Escalate breaches and incidents to Management and RoA Compliance while ensuring that appropriate remediating actions are being taken by Management.
  •  Maintain harmonious relationships between the bank and its regulators.

Reporting

  • Provide monthly and quarterly reports on compliance activities to the Chief Executive, EXCO, Risk Management Committee and Board Risk Committee and RoA Compliance.

Monitoring

  • To perform appropriate monitoring activities to provide assurance on the effectiveness of compliance risk management plans and adherence to group compliance standards to RoA Compliance and country management.

People management

  • To provide support to the Money Laundering and Control Officer (MLCO).
  • To evaluate and manage the performance of the MLCO to achieve a high standard of competence, motivation and service orientation,focusing on development and retention.

Preferred Qualification and Experience

Qualifications
  • A Bachelor of Laws Degree (LLB)

Experience

  • Minimum 3 years experience as a compliance officer.

Knowledge/Technical Skills/Expertise

  • Comprehensive understanding of the banking environment.
  • Understanding of international best practices in the areas of anti-money laundering, conflicts of interest management is an advantage.
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