Head, Money Management & Advisory Risk & Governance at Standard Bank Group

Job Description

• Integrate all risk management (e.g: Ops Risk, Reputational Risk) and compliance activities / disciplines in order to provide a consolidated view of the Money Management and Advisory risk landscape.
• Ensure the implementation of all relevant legislation (e.g: FAIS, POPI Act, TCF, FICA, KYC, AML) through the development of appropriate processes, systems etc. in order to drive adherence to regulatory and compliance requirements.
• Ensure that Financial Advisor proficiency levels are maintained through coaching and development interventions to enable Advisors to provide holistic financial advice against pre-defined criteria (e.g: quality scores).
• Define appropriate certification and people development criteria to meet the agreed requirements.
• Manage a “Centre of Excellence”, coach and develop Financial Advisors to provide holistic financial advice against pre-defined criteria (quality scores).
• Chairs all Advisory risk and compliance related committees (e.g: monitoring, quality assurance), and provides risk reports for other relevant committees.
• Interpret and implement all relevant legislation that impacts the Advisory function (e.g: FSCA, FAIS, TCF), (supported by compliance and group FAIS advisory services).
• Act as “KI (Key Individual) of KIs” in the business, independent of income statement metrics, ensuring sound advice is rendered to our clients with regards to their financial planning, estate and offshore planning.
• Ensure advice complies with legislation e.g. FICA and FAIS, Income Tax Act, Estate Duty Act, International tax, Currencies and Exchange Act to preclude any reputational risk, as well as TCF.
• Ensure that end-to-end administrative processes are put in place to ensure compliance with FAIS (e.g: recording of qualification, regulatory exam and other fit and proper required documents, register). Provide training and certification requirements.
• Retain national oversight of the level of adherence to all relevant policies and processes and implements corrective actions where required.

Qualifications

Minimum Qualifications:

• Bachelors Degree in Wealth Management / Risk & Governance Managament / Financial Planning / Economics (or related qualification) (Non-negoatiable)
• Honors or Masters Degree (Beneficial)
• Certified Financial Planning certification (CFP) (Beneficial)
• Regualatory Exam 1: Key Individual (KI) (Non-negotiable)

Experience Required:

• 10 to 12+ years' experience of Financial Planning experience with Money Management related licenses (sub-categories).
• 10+ years' experience with advisory risk and compliance matters.
• 10 to 12+ years' experience with financial services operational processes, policies and systems and its value chain.
• 10 to 12+ years experience dealing with third party suppliers (e.g: Liberty, Stanlib)
• 10+ years of complying with current legislation (e.g: FAIS regulation and its requirements) as it relates to SBFC/Money Management & Advisory.

Additional Information

Behavioral Competencies:

• Articulating Information
• Negotiating
• Developing Strategies
• Change Management
• Innovation
• Providing Insights
• Resolving Conflict

Technical Competencies:

• Contract Management
• Financial Industry Regulatory Framework
• Knowledge Management
• Legal Compliance
• Legal Knowledge
• Operational Planning