Senior Compliance Analyst - RMCD

The successful candidate will be responsible for the following key performance areas:

• Develop, maintain and embed SARB Group compliance management frameworks, methodologies, processes and systems while implementing associated policies.
• Develop risk management quality criteria and perform quality reviews on compliance risk management outcomes.
• Identify, collate, analyse and report on information technology (IT) related legislative developments to the SARB Group.
• Analyse and assess the impact of emerging IT-related compliance risks on the SARB Group and report thereon.
• Identify training needs, develop a training plan for compliance risk management and conduct related training.
• Facilitate Priority 1 IT compliance risk management processes in the SARB Group, in accordance with the SARB Group Compliance Management Framework.
• Compile, coordinate and monitor the implementation of the Risk Management and Compliance Department (RMCD) compliance risk treatment action plans and provide integrated reporting on compliance risk management outcomes and activities to the SARB Group’s executives and risk oversight committees.
• Lead the development of the organisation-wide and SARB Group regulatory universe in collaboration with stakeholders.
• Coordinate and implement compliance risk and continuous risk management across the SARB Group (key risk indicators, compliance risk incidents and emerging risks).
• Develop compliance and regulatory risk awareness campaigns to educate stakeholders, influence behaviour and promote a positive and proactive compliance risk management culture across the SARB Group.
• Analyse risk data and information on the various IT-related compliance risk management plans (cross-cutting) to identify trends, interconnectedness and commonalities.
• Develop compliance risk reports and derive reliable business intelligence and insights for management to enable decision-making.
• Manage internal and external stakeholder relationships to effectively manage compliance risks.
• Research and benchmark leading compliance risk management processes and developments and propose improvement accordingly.
• Analyse and understand the SARB’s environment (internal and external) to support and guide the identification of compliance risks and opportunities to enable decision-making.
• Provide input on compliance risk management processes (i.e. policies, methodologies and frameworks).
• Monitor the implementation of the RMCD compliance risk treatment action plans and report on their progress and impact on risks.
• Drive a positive culture within the division and department.
• Oversee the integration of RMCD and other specialised risk areas.

To be considered for this position, candidates must be in possession of:

• an Honours degree (NQF 8) in Compliance Management, Risk Management, Auditing or an equivalent qualification; and
• 8−10 years’ experience in the relevant environment (Audit/IT/Project Risk Management/Risk).

The following would be an added advantage:

• Knowledge of IT Systems/Projects

Additional requirements include:

• knowledge in:
• the industry, organisation and business;
• quality assurance;
• continuous improvement;
• continued learning and/or professional development;
• risk management principles, tools, methodologies, frameworks, policies and processes;
• risk management strategy and planning;
• risk identification, analysis and assessment;
• risk mitigation and management;
• risk monitoring and reporting skills;
• project management skills; and
• the ability to build and manage relationships.

About SARB

Primary mandate of the SARB

Section 224 of the Constitution of South Africa states the mandate of the SARB as follows:

The primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.

The South African Reserve Bank, in support of its primary objective, must perform its functions independently and without fear, favour or prejudice.

WHAT WE DO

Monetary Policy

The Constitution gives the SARB the mandate to protect the value of the rand. We use interest rates to keep inflation low and steady.

Financial Stability

The SARB has a mandate to protect and enhance financial stability. We identify and mitigate systemic risks that might disrupt the financial system.

Prudential Regulation

The Prudential Authority regulates financial institutions and market infrastructures to promote and enhance their safety and soundness, and support financial stability.

Financial Markets

Open market operations are the main tool we use to implement monetary policy. We manage South Africa’s gold and foreign exchange reserves.

Financial Surveillance

The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.

Payments and Settlements

The SARB is responsible for ensuring the safety and soundness of the national payment system, which is the backbone of South Africa’s modern financial system.

Statistics

The SARB provides important economic and financial statistics that present an overview of the economic situation in South Africa.

Research

Research conducted by the SARB focuses on economics, financial stability, banking and emerging trends in finance. Our research supports policy decision-making.

Banknotes and Coin

The SARB has the sole right to make, issue and destroy banknotes and coin in South Africa.