Compliance Assurance Manager

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 SummaryThe role of the Compliance Assurance Manager is critical in ensuring that ABML effectively mitigates Compliance risk. The responsibilities encompass a broad range of activities to ensure regulatory compliance, safeguard the organization's reputation, and protect its assets. The Compliance Assurance Manager will support the Head of Monitoring, Testing and Training for: ensuring that the Compliance risk within the bank is managed in accordance with Group policies and procedures and local regulatory requirements. the project on ‘Statement of Compliance’Job DescriptionMonitoring and Testing:Design and oversee the execution of compliance monitoring and testing program to assess the effectiveness of internal controls, policies, and procedures across ABML.Conduct compliance conformance reviews of key risk areas including but not limited to Compliance risks, ensuring adherence to regulatory requirements.Systematically apply the pre-defined compliance methodology when conducting reviews which include but not limited to the following:Understand and document processes on the Audit toolIdentify, assess & document risks and controls within the processes on the Audit toolEvaluate the design and operating effectiveness of control.Perform testing to independently evaluate the adequacy and effectiveness of the controls in accordance with the applicable internal policies and local regulatory requirements.Draft a report detailing findings and corresponding agreed action plan in a concise and accurate way whilst ensuring that the allocated rating for each finding is in line with the Risk and Issue Classification Matrix.Update the Audit tool with all relevant working papers and ensure sign off before final report is issuedDevelop testing methodologies and reporting frameworks that align with industry standards and regulatory requirements.Conduct compliance self-assessment reviews as per the annual Compliance Assurance planMake use of data analytics to provide greater assurance and generate valuable insightsManage the monitoring activities for ensuring compliance with Group policies (owned by compliance) and local regulatory requirementsProvide timely feedback to the Head of M&T on the progress of the review and on identified observations and findingsFollow up on the implementation of action plans within agreed time frames, in line with the methodologyTrack to closure all findings raised during reviews and validate closure of findings as per the defined process and methodology and update the Audit tool accordinglyProvide timely reports of compliance monitoring reviews for senior management, including monthly and quarterly MI and updates on follow-up actionsManage more than 1 review concurrently whilst ensuring planned target dates are metPerform adhoc compliance reviews on specific matters at the request of Head of M&TSupervise the execution of compliance tests by the team and ensure quality control over test resultsRisk Identification And AssessmentIdentify and evaluate risks related to compliance in various business processesConduct regular risk assessments to determine areas of vulnerability and recommend corrective actionsGuide the team in identifying compliance risks and create mitigation strategiesDevelop risk-based monitoring approaches to prioritize testing efforts in high-risk areasReporting And DocumentationPrepare and deliver detailed reports summarizing the results of compliance testing and monitoring activitiesHighlight findings, provide risk assessments, and recommend corrective or preventive actions to managementEnsure accurate documentation of compliance tests, assessments, and outcomes for internal records and audit purposesReview reports produced by the team to ensure clarity, completeness, and actionable insightsRegulatory Knowledge And Compliance UpdatesStay informed about regulatory changes and industry trends to ensure the organization’s compliance framework remains up to dateBased on outcome from reviews conducted, provide insights for new compliance policies and procedures to meet regulatory and business needsUpon completion of assurance reviews, create awareness to departments on regulatory requirements and best practices.Ensure the team is up to date on regulatory changes and industry best practices through ongoing training and professional development.Training And AwarenessDesign and deliver training to raise awareness about Compliance Assurance methodology among staffCreate a culture of compliance within the organization, emphasizing ethical behavior and the importance of regulatory adherenceContinuous ImprovementRecommend and implement continuous improvements to compliance testing methodologies and strategiesAssess the efficiency of existing compliance processes and suggest improvements for better performanceFoster a culture of innovation within the team to identify process improvements and enhance compliance assurance activitiesStatement Of ComplianceProvide support to the Head of M&T to lead the team working on the ‘Statement of Compliance’ projectTeam Leadership And ManagementLead, mentor, and develop a team of compliance professionals, ensuring they are well-trained, motivated, and aligned with the organization’s compliance objectivesAssign tasks and monitor the progress of compliance testing activities, ensuring deadlines are met and quality standards are maintainedProvide regular feedback and performance reviews for team members, identifying opportunities for professional growth and skill enhancementFacilitate knowledge sharing within the team and foster a collaborative working environmentEnsure team adherence to best practices and compliance standards, offering guidance on complex issuesEnsure the team is up to date on the latest regulatory changes and industry practices through ongoing professional developmentStakeholder Communication And SupportCollaborate with various departments (e.g., legal, internal audit, operations) to address compliance issues and implement effective controlsServe as the primary point of contact for escalated compliance issues within the team and assist in resolving complex compliance concernsProvide training and support to staff across the organization regarding compliance assuranceLiaise with regulatory bodies during audits or examinationsAssist any ARO colleagues with any query on Compliance Assurance methodology and/or on the Audit toolPreferred Education & ExperienceACCA Qualified / A bachelor’s degree in finance or any related qualificationsA minimum of five years in Internal Audit/or Compliance Function/ preferably with experience in the financial sector Excellent knowledge of an assurance methodologyDegree with minimum 5 years relevance experience or equivalent of 8 years bank related experienceTechnical Competencies Including Knowledge And Skills Planning and Organising: Establish clear objectives and priorities in line with Compliance strategyAbility to work on different reviews concurrently and work under pressure whilst meeting all deadlines Intellectual and analytical skills: Analyse and integrate information and use appropriate knowledge, procedures and techniques to solve problems Presenting and disseminating information: Accurately and concisely express opinions/information and display confidence in facilitating presentationsReport writing skills: Ability to write report in a concise and factual manner Communication skills: Ability to communicate effectively, orally and in writing, with senior internal and external audiences – to educate, persuade, negotiate and take decisions.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 timesThe strength of character, credibility and personal presence to operate confidently and effectively at senior levels both internally and externallyAbility to be flexible coupled with an ability to challenge, independently and constructively senior management, peers or other staff where appropriate,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 mannerLead by example and create a positive work attitude Good knowledge of MS Office, IT conversant and ability for technology integration such as Artificial Intelligence (AI)Behavioural CompetenciesPersonal & Interpersonal Skills: Including Communication and Influence and CollaborationStrong problem solving and analytical skillsGood eye for details and quality orientedExcellent Planning, Organizing and Time management skillsAction and Result orientationResilient Team player Strong Interpersonal and influencing skillsAbility to work under pressure and without close supervisionPotential to Lead Self confidenceAbility to make decisions in high pressure environmentAdapting and responding to changeEducationHigher Certificates and Advanced National (Vocational) Certificates: Business, Commerce and Management Studies (Required)