Job Summary

To coordinate, plan & deliver day-to-day team tasks & activities in order to execute compliance accurately & timeously in support of org. policy compliance through the execution of predefined objectives as per agreed SOPs

Job Description

Compliance Assurance Manager

Job Purpose:

• The core responsibility of a Compliance Assurance Manager within Absa is to execute review/audit assignments in accordance with the Group Compliance Monitoring & Testing Plan and relevant policies, procedures, and quality standards.

Key Accountabilities

Compliance M&T Delivery and Issue Assurance

Develop an in- depth knowledge of the methodology, by attending training sessions and using knowledge gained during audits, use this proactively in executing audit activities. 

Deliver assigned responsibilities by the Head of Compliance Monitoring & Testing work to a high quality and in accordance with the requirements of the Quality Assurance scorecard.

Perform planning and execution of Design Effectiveness and Operating Effectives Testing, uniformly applying the methodology and quality standards, focusing the work on key risks, with minimum supervision from the Head of Compliance Monitoring & Testing. 

Develop and maintain relationships with key M&T contacts on each review by attending continuous stakeholder meetings. In addition, engage closely with stakeholders during assignments and encourage open discussion and interaction with business on the risks associated in their environment.

Engage proactively with Compliance colleagues during assignments and request technical assistance where required. Technical assistance may be requested for the review of the risks and controls to be tested, M&T working papers and M&T report.

Based on knowledge of business areas, provide guidance to other peers by sharing best practice so that their work meets and sometimes exceeds quality standards. 

Support the Head of Compliance M&T in the identification of risks to be tested by participating in planning sessions. 

Develop an in-depth knowledge of Absa and the various business areas and use this knowledge to assess risks and controls through identifying, assessing and documenting risks and controls within these processes. 

Evaluate the design and operating effectiveness of controls and document all working papers in High Bond for review by the Head of Compliance M&T. 

Ensure all M&T observations and planned actions are factually agreed with management as soon as they arise and increase the speed of report issuance. Provide suggestions to stakeholder management on how they can address the control issues identified. 

Document all working papers in line with methodology requirements. The working papers must be accurate, reflective of work performed and support conclusions drawn. 

Display professional scepticism, raising and discussing contentious observations with management and provide evidence to support all issues identified. 

On an ongoing basis throughout the review, discuss and agree the factual accuracy of M&T observations with the Head of Compliance M&T. 

Provide feedback to the Head of Compliance M&T and M&T team with progress and observations raised during the review by communicating honestly, frequently and effectively. Build and maintain good working relationships with fellow colleagues.

 Participate fully and be supportive in all reviews by providing assistance to the team where required. Be quick to learn and seek opportunities to share this knowledge with colleagues. 

• Continue to update awareness of risk issues and changes across selected business units from interaction with management and provide feedback to the Head of Compliance M&T. 
• Assist in the induction of new joiners, mentoring less experienced team members.
• Proactively take on additional tasks as requested by the Director of Legal & Compliance – which may include managing Issue Assurance and production of team Management Information. 
• Perform Issue Assurance testing and documenting of the working papers in accordance with the requirements of the Methodology.
• Support with the teams Data Analytics and Automation initiatives and have experience in performing data analytics.

Knowledge Management

• Improve technical knowledge through self-learning or training including mandatory Continuous Professional Education requirements. 
• Share knowledge with M&T colleagues and peers in the business. 
• Develop and enhance learning through seeking coaching, training and continual feedback 
• Coach new joiners and trainees on how to apply the methodology. In addition, to proactively share knowledge of within the team, leading a session at a team meeting. 
• Build knowledge of business and culture in business units for the Retail, CIB portfolio and Functions as assigned by the Head of Compliance M&T.
• Knowledge of key regulations, including FIC, KYC and AML, Sanctions, for business areas / locations within remit.

Reporting

• Prepare M&T observations and make sure that they are concise, factually accurate and cover all of the significant issues. The observations must be insightful, address the root causes, and have agreed actions that fully mitigate the risk. 
• Assist the Head of Compliance M&T where required, in the drafting of the M&T report in line with methodology requirements and as per the requirements of the Balanced Scorecard.
• Obtain regular updates on the control environment through ongoing discussions with management and provide the updates to the Head of Compliance M&T for inclusion in governance papers to the Board Audit Committee and other relevant stakeholders.
• Proficient in report writing for governance reporting.

Relationship Management

• Develop and maintain relationships with accountable management on each review.
• Present effectively at stakeholder meetings and forums (e.g.: Risk and Governance forums) to share knowledge and information including methodology, standards, changes and new developments with business stakeholders on an ongoing basis.

Preferred Qualification

• B Degree (Accounting, Commerce, Finance, Informatics, Statistics or similar business-related field); and/or
• Formal qualification or studying for CPA or ACCA, CIA (Levels 1,2 or 3).

Preferred Experience

• 2 to 3 years’ experience in Risk Based Auditing or Risk/Control activities
• Report writing and presentation experience.
• Stakeholder management and negotiation experience.

Knowledge and Skills

• Auditing/Assurance/Risk/Rigor/ Compliance and investigative skills under a risk-based methodology
• Understanding of key risks faced by banks and FCC control environment.
• Knowledge of the Bank’s governance requirements
• Compliance Controls Testing & Monitoring
• Stakeholder management and negotiation experience