Job Purpose:
To form part of Compliance Function in Risk and Compliance team. A compliance officer is an individual who ensures that a company complies with its outside regulatory and legal requirements as well as internal policies and bylaws. Compliance officers have a duty to their employer to work with management and staff to identify and manage regulatory risk.
The Financial Intelligence Centre Act (FICA) requires accountable institutions, such as banks, attorneys and estate agents, to appoint a FICA compliance officer. The compliance officer is responsible for ensuring that the institution complies with FICA's requirements and for reporting any suspicious transactions to the Financial Intelligence Centre (FIC).
Reporting Line:
This role will report to the Group Executive Policies and Procedures
Key Areas of Responsibility:
Provide support to Head of FICA Compliance Officer and the wider Compliance team in the practical
Implementation of the FIC Amendment Act requirements including relevant guidance notes and contribute towards maintaining a sound compliance culture in the group companies through the achievement of established compliance deliverables including the following:
FICA Compliance Related Responsibilities:
- Work closely with FICA Compliance Manager and ensuring the adherence to the Risk Management and Compliance Program, including providing assistance with FICA related queries from all staff members
- Ensuring compliance to all FICA process as per the FIC Act
- Adhere to CDD and EDD processes
- Manage all logged calls from the business with 48 hours
- Screening on Docfox or BPG approved screening software
- Reporting High Risk clients/Tenants to FICA Compliance Manager
- Approved high risk clients/tenants – FICA entities to be captured on B# FICA Module
- All approved tenants/clients from Docfox (or BPG approved screening software) screening entities to be created on B# within 24 hours
- All renewals to be captured on Docfox (or BPG approved screening software)
- Maintaining a monthly register of all high risk tenants/clients
- Maintaining a monthly register of all PEPS
- Reporting cash transactions of over R 49 999.00 to FIC on the GoAML platform daily
- Printing of Cash reporting from B# to ensure cash is reported daily and within 48 hours
- Prepare STR and SAR reports to the FICA Compliance Manager
- Auditing of portfolios monthly (FICA COMPLIANCE %)
- Complete audit reports and capture the information on B# ISO compliance fault centre
- Take-On of new portfolios- auditing and ensuring 100% compliancy with the 3-6 months remediation process
- Follow up on corrective actions from audits
- Maintain and update PEP and High risk register monthly
- Follow up and respond to all FICA related queries and requests
- Monthly reporting on the progress of the audits to be sent to the FICA Compliance Manager
- Perform due diligence reviews and reporting on high risk tenants annually
- Record keeping- Customer Due Diligence documents, all FICA related documents or any client transaction that takes place- this is kept on B# on FICA module or the document centre
Qualification & Skills Required :
- FICA Certified
- Sound and in-depth understanding of FICA/ML/TF control regulations and FIC Guidance Notes
- Minimum 3 years FICA experience
- Compliance Monitoring Experience
Personal Attributes:
- Process driven and analytical;
- High level of attention to detail;
- High degree of agility;
- Good planning and organisational skills;
- Ability to engage with stakeholders at various levels
- Ability to query, challenge and maintain a high degree of professional scepticism;’
- Insight to make relevant conclusions
- Excellent communication skills, both oral and written;
- Ability to perform in a demanding team
- Resilience
- Team player
- Integrity and confidential nature
Computer Competency Requirements:
- Word
- Excel
