Compliance Officer

SUMMARY:

The Compliance Officer is responsible for assisting and supporting SBUs/Departments in complying with all applicable regulatory requirements (i.e. Laws, Regulations and Supervisory requirements (i.e. rules, codes, and self-regulatory organizational standards) applicable to the IDC by facilitating the implementation, management, and monitoring of...

POSITION INFO:
The Compliance Officer is responsible for assisting and supporting SBUs/Departments in complying with all applicable regulatory requirements (i.e. Laws, Regulations and Supervisory requirements (i.e. rules, codes, and self-regulatory organizational standards) applicable to the IDC by facilitating the implementation, management, and monitoring of the board approved compliance program, policies, processes, and procedures. •Law degree/ B. Com Law degree •Post-graduate Compliance Qualifications will be an added advantage. •CPRAC Qualification from CISA will be an added advantage • Minimum of 5 to 8 years relevant and practical regulatory compliance risk management or legal experience • Member of the Compliance Institute of Southern Africa  COMPLIANCE RISK IDENTIFICATION AND ASSESSMENT • Conduct formal Compliance Risk Profile workshops with SBU’s/ Departments to identify, assess and risk rate the total universe of regulatory requirements applicable to the IDC and its subsidiaries. • Conduct Compliance Risk Profile reviews to identify amended and/or new regulatory requirements and update the regulatory universe accordingly in support of the overall IDC Compliance strategy. • Stay abreast of amended and/or new regulatory requirements, and pro-actively identify, provide an analysis, monitor, and communicate the impact of the anticipated regulatory change on the IDC and its subsidiaries. • Compile and continuously update, manage, and execute a Divisional Compliance Coverage Plan, detailing the compliance risk identification, assessment, management, monitoring and reporting activities to be undertaken for a financial year. • Identify and articulate compliance risks associated with proposed SBUs/Dept transactions, projects, and activities that the business intends to undertake and mitigate risks wherever possible.  COMPLIANCE RISK MANAGEMENT • Drafting compliance risk management plans (CRMPs) for all legislation in the Regulatory Universe (RU) to assist the relevant responsible persons to understand the legislation to enable them to fulfil their responsibilities when monitoring compliance. • Review, manage and update existing CRMPs when so required, before conducting monitoring reviews. • Provide compliance advice to the SBUs/Depts on the requirements stipulated within the CRAD owned policies, the regulatory control environment (existing and/or emerging) and the ways in which to minimize the impact of occurred non-compliance. • Participate in projects to identify applicable regulatory compliance risks and advise on the management and mitigation thereof. • Undertake compliance awareness activities such as: - contributing articles to the departmental newsletter; - distributing interesting and relevant articles; and conducting presentations to the SBUs/Dept. on applicable regulatory requirements to support the embedment and enhancement of a culture of compliance. • Assist SBU’s/ Depts in the maintenance of their compliance policies, procedures, and other compliance documentation (reviewing existing policies and aligning them with identified regulatory changes or provide input in drafting new policies). • Develop and document compliance procedures, draft and maintain the compliance manual, reviewing its adequacy periodically and updating it as necessary. COMPLIANCE RISK MONITORING • Plan, manage and conduct compliance monitoring (i.e. identifying existence of controls, testing the adequacy and effectiveness of controls to mitigate compliance risks, prepare control self-assessment questionnaires /signoffs and/or control spot check reviews) on the applicable regulatory requirements in line with the departmental monitoring process. • Review existing complex business processes and procedures to ensure these are compliant with identified legislative requirements to ensure that business is conducted in a compliant manner, while considering the compliance risk management framework. • Compile and discuss the Compliance Review Reports with the relevant stakeholders and agree on the corrective actions to be taken, the person responsible for implementing the corrective actions and the due date for implementation. • Record all compliance findings after the monitoring review on the Compliance Issues Log, manage and track the progress made by the responsible persons in closing the findings. • Ensure that the Compliance Issues Log accurately reflects all amendments, supporting the integrity of the data reported on to the relevant governance committees.  COMPLIANCE RISK REPORTING • Compile and submit a Compliance Risk Profile Report to Divisional Executives on quarterly basis, detailing the status of the management of the compliance risks within the Division. • Assist the department by providing input in compiling internal compliance reports on all compliance activities, and compliance risks to various governance committees. TRAINING AWARENESS • Prepare, plan, and conduct compliance training of employees across the organisation regularly as required with the aim of establishing a compliant business culture in line within the IDC’s compliance risk management framework. • Communicate compliance policies, processes, and procedures to employee’s organization wide and ensure understanding. • Review and improve training material and deliver training programs to educate employees about compliance requirements and best practices. TECHNICAL/FUNCTIONAL COMPETENCIES Planning and organized approach to work Project Management Skills Strong analytical skills Strong presentation skills Strong stakeholder Engagement Skills Strong negotiating and influencing skill BEHAVIOURAL COMPETENCIES Highly detail-oriented and meticulous High level of integrity and ethical standards Effective communication and interpersonal skill Ability to work independently and as part of a team Proactive and able to take initiative