Junior Regulatory Specialist at Sanlam Group

What will you do?
Key responsibilities will include:

• Keep abreast of regulatory change by scanning the regulatory environment, and assisting the Regulatory specialist in the summarization of the pending changes, with relevant implementation dates
• Keep abreast of regulation which touches on SCI, e.g., CISCA, FICA, COFI, POPIA, FATCA, AEOI, Income Tax etc.
• Assist SCI operations with Fica/ Risk rating related enquiries
• Liaise with SCI Regulatory Specialist, and/ or Regulatory and Risk manager & as applicable, the SCI Compliance manager to share a common understanding of any regulatory requirements
• Perform regulatory monitoring activities, incl EDD, transaction monitoring and fraud investigations as applicable to activities (daily basis) and perform as a back up to the regulatory specialist, sign off duties regarding the Onboarding of EDD cases, and revert on issues, provide guidelines to solve problematic cases
• Review screening and risk rating reports to ensure compliance (daily) and revert on issues
• Identify training gaps and engage with Regulatory and Risk manager to ensure regulatory training is given where applicable
• Assist with providing source information for training material, review training programme and training material timeously  
• Assist in the update of the Fica Rule book as well as Risk Rating tools 
• Participate and give input on all SCI forms pertaining regulatory requirements to the Regulatory specialist and Manager
• Review analysis done on transaction (cash, suspicious transactions) and regulatory monitoring, reports and perform relevant approvals / sign offs (daily basis), and report to Regulatory and Risk manager and Specialist
• Assist with keeping relevant compliance policies, and processes within the business are continuously kept up to date
• Provide monthly and quarterly regulatory reports as required by the Regulatory and Risk manager, COO and SCI EXCO
• Assist Regulatory and Risk manager with any analysis and investigations needed for AML/ Fraud/ transaction monitoring
• Participate in discussions of business/ system requirements for regulatory changes and propose required changes to systems, reports and processes on regulatory changes to the Regulatory and Risk manager and Regulatory specialist
• Review and report post transaction screening and monitoring on High Risk rated clients report to Regulatory and Risk manager and Regulatory specialist accordingly
• Review Enhanced Due Diligence and screening investigations on high risk rated clients, as well as Fica Compliance by the business on a daily basis and report findings to Regulatory and Risk manager as well as the Regulatory specialist on a weekly basis
• Assist with the investigation of possible fraudulent instructions as well as suspicious behavioural actions of clients, and put the necessary steps in place to stop/ prevent the suspected fraud, as required 
• Ensure all tasks are completed timeously, and escalate to Regulatory and Risk manager as required
• Become efficient user of relevant system applications to enabling meeting Operational job requirements
• Develop an understanding of the instruction management process to identify potential incorrect or suspicious transactions
• Adherence to all governance, legislative and regulatory requirements 
• Reporting direct to the Regulatory and Risk Manager, and provide input on areas of responsibility 

What will make you successful in this role?

• B Comm degree or an equivalent qualification 
• Minimum of 5 years’ experience in Financial Services Industry (with 3 years CIS environment, with experience in the compliance arena; anti-money laundering; transaction monitoring or fraud prevention experience and or qualification in these areas; and/or Compliance management qualification will be beneficial.  
• Operational experience will be advantageous 

Qualification and Experience

• Degree with 5 years related experience.

Knowledge and Skills

• Compliance and legal projects management
• Compliance advice and training
• Documentation reviews
• Risk Management
• Compliance monitoring and reporting
• Personal Attributes
• Business insight - Contributing through others
• Manages complexity - Contributing through others
• Persuades - Contributing through others
• Builds networks - Contributing through others

Build a successful career with us

• We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping  our employees to realise their worth. Through its four business clusters – Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Core Competencies

• Being resilient - Contributing through others
• Collaborates - Contributing through others
• Cultivates innovation - Contributing through others
• Customer focus - Contributing through others
• Drives results - Contributing through others

Turnaround time

• The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. 

Our commitment to transformation

• The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensure a thriving and sustainable business in South Africa.  The Group's Employment Equity plan and targets will be considered as part of the selection process.