Compliance Officer at The Payments Association of South Africa (PASA)

Job Description

Overall job purpose

• To maintain the Compliance function in the Payment Association of South Africa (PASA) through the execution of defined monitoring, investigating and reporting to ensure PASA, PASA Members and the internal committees comply with legislation, regulations and supervisory requirements and to provide advice, consultation and facilitation on all compliance and membership requirements relating to the National Payment System (NPS).
• To facilitate and process all membership applications and to advise prospective and existing Members of PASA and South African Reserve Bank (SARB) membership requirements. To facilitate and manage the drafting of various agreements and clearing rules until finalisation.

Responsibilities:

• Maintain a compliance framework for PASA. Continual input into the enhancement of the framework, policies & procedures that impact all of PASA.
• Ensure compliance and membership application processes are implemented in alignment with other processes. Processes must be integrated and optimised.
• Procure and drive independent assurance assessment of PASA’s compliance management framework at regular intervals.
• Maintain and oversee PASA’s Regulatory Universe and Annual Compliance Management Plan.
• Compile and maintain a consolidated compliance and membership register regularly in consultation with the membership professional in your team.
• Manage reporting on compliance and membership matters.
• Consolidate all information pertaining to all compliance and membership-related functions, processes, and activities.
• Transfer the knowledge/skill- training in respect of an effective and sustainable process of compliance identification, quantification, and monitoring to management.
• Work with functional areas to ensure monitoring and reporting to ensure compliance with the organisation’s standards and reporting of the risk-related, non-compliance issues.
• Draft entry and participation with the support of industry participants.
• Process membership applications and advice on membership requirements.
• Manage compliance enforcement processes and escalations to external advocates for decision, and notification to the relevant Executive.
• Fulfill the role of Deputy Information Officer of PASA in terms of POPIA or any amendment legislation thereto.
• Protect and create value for the organisation and all stakeholders by identifying and proactively addressing compliance risks and opportunities.
• Ensure effective mitigation of identified compliance risks across PASA to prevent/reduce loss, and support achievement of performance and profitability targets.
• Compliance monitoring and reporting.
• Ensure that all relevant stakeholders are informed of, and educated on compliance requirements, legislation, and issues.
• Provide professional advice and guidance to Members, Council and executives to facilitate decision-making.
• Proactive forward-looking internal compliance management.
• Adoption of leading compliance management practice and providing guidance to management for implementation.
• Manage stakeholder relations and ensure that their needs are met in line with business and legislative requirements.
• Ensure that compliance platforms and tools meet business and Member requirements.
• Ensure sound working relationships with stakeholders through quality service and information.
• Manage the overall approach to external compliance management and membership applications and maintain necessary infrastructure, frameworks, tools, and methodologies accordingly.
• Maintain compliance identification, assessment and measurement processes.
• Manage and maintain appropriate compliance monitoring and validation.
• Ensure compliance management coverage across all compliance types.
• Ensure effective compliance governance through the maintenance of appropriate governance structures and processes.
• Ensure the establishment of required compliance management capacity through the ongoing building and development of appropriate skills.
• Ensure the establishment of a compliance talent pool, and maintain and leverage scarce skills across PASA as required.
• Keep abreast of industry trends, practices and regulatory change.

Education and experience

• 5 - 7 years of relevant business experience in a corporate environment (Financial Services and/or Banking experience).
• Exposure to the National Payment System.
• A bachelor's degree or qualification in Law or Compliance.
• Postgraduate qualification in law, compliance or risk management is preferred.

Knowledge:

• Knowledge of compliance frameworks, processes and methodologies.
  Knowledge of Corporate Governance & Compliance Legislation (that controls the NPS).
• Knowledge of Banking and National Payment Systems is essential.
• Ability to develop and execute compliance strategy in a financial environment.
• Ability to develop and maintain strong relationships with relevant internal and external stakeholders (Working in teams).
• Exceptional oral, written and interpersonal skills.
• Sound business judgment and an ability to solve problems.
• Numeracy: The ability to solve routine mathematical problems in the business environment
• Relationship building: The ability to form mutually beneficial strategic relationships to achieve long-term organisational outcomes.
• Knowledge of Banking legislation and regulation is advantageous.
• Knowledge of Protection of Personal Information Act (POPIA) and Promotion of Access to Information Act (PAIA) advantageous.

Skills

• Strong attention to detail.
• Strong stakeholder management and communication.
• Analytical thinking and problem-solving.
• Detail-oriented and committed to a high level of accuracy.
• Personal organisation and time management discipline.
• Good communication skills (verbal and written).
• Good interpersonal and consultative skills.
• Strong facilitation & presentation skills.
• Team orientation with ability to motivate others towards performance.
• Ability to work independently.
• Ability to work under pressure and on multiple priorities as the same time.