Investment Banking provides clients with a range of advisory and financing solutions. Specialising in high-growth emerging markets, our expert advisers work on mergers and acquisitions, capital restructurings and empowerment deals, as well as arranging finance for acquisitions, client projects and property transactions.
- To support the Head of Investment Banking Compliance, Head of CIB Compliance, the Group Chief Compliance Officer and the embedded business risk management function to discharge their responsibilities relating to the compliance risk management process as required by relevant regulatory requirements, applicable codes of conduct and minimum standards.
•Assists line management and the embedded business risk management function by providing advice to guide line management in discharging their responsibility to comply with applicable statutory, regulatory and supervisory requirements in order to:
-Protect the reputation of the Bank;
-Avoid legal action against the Bank;
-Promote a good working relationship with supervisors/regulators; and
-Enable the Bank to demonstrate to regulatory authorities and other stakeholders that it is “fit and proper” to undertake its business.
•To maintain and develop a thorough understanding of the relevant regulatory requirements applicable to the Investment Banking that he/she represents as a Compliance Officer; thereby facilitating the establishment of a compliance culture.
Provide input into the Regulatory Universe and develop Compliance Risk Management Plans (RMP’s)
- Provides input to the CIB and Group Regulatory Universe.
- Responsible for the completion and/or maintenance of a Business Unit specific Regulatory Universe.
- Adopts and customises generic RMPs (as provided by the Centre of Excellence from time to time) in conjunction with the embedded business risk management function.
- Develops, in consultation with the embedded business risk management function, and maintains Business Unit specific RMPs.
- Ensures the appropriate use of the compliance risk management tool in his/her Business Unit’s context.Provides advice to management, relevant committees, the embedded business risk management function and employees, in order to effectively manage compliance issues.
- Analyse & identifies compliance risks and
- Provides assistance and advice on compliance issues specific to the Business Unit (new businesses, products, and other initiatives such as projects).
- Completes the annual Compliance Critical Business Area (CCBA) review.
- Safeguards the reputational risk of the Standard Bank Group by ensuring the Business Unit supports the Reputational Risk Standard and related reputational risk policies & procedures.
- Ensures the Business Unit’s reputational risk policies and procedures are in compliance with the Standard if the Group Policy is not adopted.Assists with completion of Compliance Monitoring Plan
- Assist with the compliance monitoring plan in consultation with the embedded business risk management function and tracks progress thereto.
- Monitors (on an on-going basis) in conjunction with the embedded business risk management function and the combined assurance structure, the adherence to the Compliance Governance-, legal- and regulatory standards in order to identify further areas of improvement and detect significant compliance breaches and exposures.
- Ensures that there is a customised RMP for all high risk legislation pertinent to the Business Unit and in line with the compliance plan for the year.
- Assists the Business Unit, in conjunction with the embedded business risk management function, with the resolution of compliance audit issues.
- Establishes a line of communication to the Business Unit Exco, in order to monitor CIB BU’s compliance with regulatory requirements.
Maintenance of Compliance Manuals, Standards, Policies/Procedures & Training
- Maintenance and alignment (to the CIB Compliance Manual) of a IB specific Compliance Manual.
- Assists, as and when required, in the development drafting and updating of policies and related training programmes (in as far as such assistance is aligned to L&D and Centre of Excellence initiatives).
- Ensures all training which has been tailored for the Business Unit is signed off and, if appropriate, assists in the delivery of the training and awareness.
- Customises, if necessary, Group Minimum Standards and facilitates, in consultation with the embedded business risk management function, the process of adoption thereof by the Business Unit.
- Requests dispensation when Business Unit policies and procedures deviate from that of minimum standards.Keep Abreast of Regulatory Requirements
- Remains aware of regulatory & legislative developments, and practices of regulatory authorities, which are relevant to the Business Unit.
- Assists the embedded business risk management function and the Business Unit in implementing existing, new and/or amended regulatory requirements.
- Assesses and advises the embedded business risk management function and the Business Unit on the impact of regulatory developments.
- Provides input or comment in relation to the drafting of proposed regulatory requirements.Promote a Compliance Culture
- Actively promotes, on an ongoing basis, the Compliance Function, to ensure that a culture of compliance is established in the Business Unit.
- Seeks to establish a compliance culture that contributes to the overall objective of prudent risk management by the Bank.
- Cultivates relationships within the Business Unit which results in the Business Unit Exco or other relevant forums proactively seeking Compliance involvement in their dealings.Provide Feedback, Reporting & Escalation
- Utilises established mechanisms for reporting and resolving non-compliance with regulatory requirements.
- Immediately reports material compliance related matters to the Head of GM Compliance.
- Contributes to and involves the embedded business risk management function in the annual sustainability reporting process.
- Informs Central Compliance, Group Compliance and the embedded business risk management function about regulatory inspections and acts as a conduit for any significant information requests, comments and findings.
- Completes formal monthly and quarterly compliance reports as may be required by various Group governance structures and regulatory requirements.
- Plans in cooperation with the embedded business risk management function and the Business Unit, corrective action regarding audit and regulatory findings.
- Monitors in conjunction with the embedded business risk management function the timely and effective implementation of the plans, escalating progress and results to CIB Central Compliance and Group Compliance.
Preferred Qualification and Experience
Honours Degree: Business Commerce
5-7 Years – Solid understanding of banking products and activities, and associated regulatory frameworks, including client assets and transaction reporting obligations. Knowledge of upcoming regulatory developments impacting the financial services.
5-7 Years – A seasoned experience working in a compliance advisory capacity within IB environment.
5-7 Years – A seasoned experience working in a risk capacity within the BU environment.
HOW TO APPLY