Financial Crime Risk Assessment Specialist at FirstRand Group

Purpose

• The purpose of this role is to provide ongoing oversight of the compliance issues impacting the financial crime risk profile. The role includes active engagement with segments on non-compliance issues raised by assurance providers or identified through breaches in key risk indicators. In addition, the incumbent will co-ordinate and participate the group’s response to quarterly regulatory returns, periodic inspections, and progress reports on remediation.

Experience and Qualifications

• Minimum Qualification -  Post-graduate degree or an honors degree in Commerce with specialisation preferences in Auditing or Risk Management or Compliance or Legal.
• Preferred Qualification -  Post-graduate degree or an honors degree in Commerce with specialisation preferences in Auditing or Risk Management or Compliance or Legal.
• Experience -  At least 5 years relevant experience in compliance, risk management, internal or external audit, including - financial crime experience in a financial services industry.
• Additional Knowledge  - Compliance and Risk Management in Financial Services.

Responsibilities

• Coordinate (manage/direct/contribute to) requests for information, quarterly returns to the regulator, and self-assessment questionnaires or declarations.
• Co-ordination of group response to inspections by the regulators, requesting information from segments, evaluation and assessment of segment feedback, submission to regulators and co-ordination of presentations.
• Perform monthly Archer logs reviews and facilitate meetings with the respective segment compliance teams. The aim is to ensure that non-compliance issues are complete, accurate and valid when logged on Archer. Critically review risk rating, root causes and action plans and the adequacy of actions to close the findings on a timely basis.
• Oversight through attendance of key segment or business unit meetings.
• Reporting
• Regulatory reports (management meetings, internal governance meetings, regulators): Co-ordination of submissions, consolidation to create group view, evaluation and assessment of segment feedback.
• Assurance
• Facilitation of assessments and evaluation of the adequacy and effectiveness of established controls.
• Logging, tracking and follow up of corrective actions to address deficiencies identified through assessments.
• Preparation of the high-risk themes for monitoring based on legislation, frameworks, policies, minimum standards and guidance notes.
• Other
• Any other ad hoc task or work requirement which may be allocated to the incumbent by the Head of the Financial Crime or the Evaluation and Assessment Manager.
• Customer
• Manage/direct/contribute, as appropriate, to engagement with regulators.
• Maintain effective working relationships across FirstRand’s financial crime centre of excellence including business unit compliance officers.