Risk & Compliance Officer – Bifm Unit Trusts

Applications are invited from suitably qualified individuals for the position of Risk & Compliance Officer – Bifm UT.
Job Summary
To promote a risk aware environment by working with the Senior Risk and Compliance Officer in supporting the execution of the enterprise risk management framework within BIFM UT. To ensure risk policies, standards and methodology are effectively executed within BIFM UT. They will also assist with the implementation of risk and compliance within Bifm holdings and its subsidiaries. Furthermore, the risk and compliance officer will support the Senior Risk and Compliance Officer with maintaining and managing the governance of BIFM UT business continuity program for recovery from all types of business disruption risks (location, geopolitical, industry and regulatory).
Key Performance Areas:
  • Annually perform Bifm Unit Trusts money laundering and terrorism financing risk assessments and prepares a report for approval. They will also assist with the the risk assessments of the rest of the Bifm holdings subsidiaries.
  • Conducts compliance checks on documents and sign off on behalf of compliance (i.e. KYC checks), including enhanced due diligence on high risk clients for Bifm UT and when required, Bifm.
  • Conducts Anti-Money Laundering (AML) assessments and ensure that processes and systems meet company policies and procedures as well as regulatory requirements. This includes assisting within Bifm and Bifm Holdings subsidiaries.
  • Conducts training sessions for employees to raise awareness of policies and procedures to ensure compliance across the organization, including assisting within Bifm and Khumo.
  • Assist in the design and implementation of an effective data privacy compliance program by identifying gaps and developing solutions and controls to address potential threats to personal data
  • Coordinates submission as and when of license renewal, product approvals and key controllers for Bifm UT and the broader Bifm Holdings subsidiairies.
  • Respond to Regulators’ requests within set deadlines and turnaround times for all regulatory requests.
  • Delivers high-quality AML/CFT training to all employees in a timely manner, including new hires, refresher training, and targeted training for high-risk business areas.
  • Maintains accurate training records for all employees, including tracking completion of required training and providing reports to management as needed.
  • Timely identification and reporting of any breaches in investment mandates or regulations. Proactive investigation and resolution of pre-trade compliance issues.
  • Identification, assessment, and monitoring of major risks within the business, business units’ subsidiaries and associates
  • Prepares and coordinates of Enterprise Risk Committee meetings including meeting packs and minutes of the meeting
  • Reviews and analysis of incident reports to identify key risk areas and possible controls
  • Assist with preparations for business continuity testing within all the business units. Support the departments with developing disaster recovery plans for physical locations with critical assets such as data centres.
  • Effective monthly, quarterly and annual regulatory reporting requirements are met for BIFM Unit Trusts
  • Contributes towards compiling reports on regular basis and as directed and requested to inform senior management of the operations and progress of compliance efforts and Regulatory issues.
  • Implements key controller vetting and product vetting submission to Regulator.
  • Monitor the company’s operations and activities to ensure compliance with all relevant industry regulations and standards. This includes conducting regular compliance audits and inspections.
  • Assist to develop and implement risk management and compliance policies and procedures. This includes updating policies and procedures to reflect changes in regulatory requirements.
  • Manage and respond to risk and compliance incidents. This includes conducting incident investigations, preparing incident reports, and implementing corrective actions
  • Assist with preparing Quarterly reports for SanlamAllianz and Board, bi-monthly reports for BIHL Risk and Compliance forum and monthly reports for Bifm ExCo
  • Review and manage regulatory change within the business
Skills & Competencies
  1. Self-assurance and a confident manner.
  2. A self-starter who shows initiative and assumes responsibility for projects.
  3. Excellent interpersonal and communication skills, both verbal and written.
  4. Ability to work with minimal supervision.
  5. Established negotiation skills and sound judgment.
  6. A strong work ethic.
  7. Ability to handle multiple tasks within strict time frames within a fast-paced environment.
  8. A ‘team player’ who interacts confidently with management, clients, and professional advisors.
  9. Strong attention to detail.
  • Degree in Accounting / Finance or any relevant undergraduate qualification
  • Or a part qualified CA with some practical experience in auditing asset managers (external audit, internal audit)
  • Any other compliance or risk related qualification such as ACAMS would be advantageous.
Work Experience
  • In addition to formal qualification:
  • 3 – 4 years of relevant work experience in a risk/ compliance environment within the financial services sector
  • Asset management experience is an advantage.
The Company offers an attractive remuneration package with benefits.
Note: Communication will be made to shortlisted candidates only.
Closing date: July 03, 2024