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Risk & Compliance Officer

Capricorn Group Limited - namibia

2 years ago

Risk & Compliance Officer

Listing reference: capbg_000014

Listing status: Online

Apply by: 29 September 2023

Position summary

Introduction

The Risk and Compliance Officer will provide specialist assistance, with the effective monitoring of risk-related issues as well as the management of compliance risk in Peo Finance. The candidate will ensure effective roll-out of the risk management framework and provide specialist support for activities that are specifically aimed at compliance monitoring and reporting on the adequacy and effectiveness of the compliance risk management across the two subsidiaries.

Job description


1. RISK MANAGEMENT , COMPLIANCE POLICIES, MANUALS AND FRAMEWORKS

  • Assist CIHB management in the implementation of relevant frameworks, policies, manuals, and other governance documents/processes;
  • Develop, review, and maintain risk management framework that meets the Capricorn Group Internal Risk Control Assurance Framework;
  • Assist management to implement or review compliance processes that will encourage a compliance culture;
  • Work with BG Compliance office in the adoption of Group related policies for both Peo Finance;
  • Facilitate approval of all relevant policies, manuals by senior management and governance structures within the two subsidiaries;
  • Communicate key aspects of the compliance policies or charters and manuals to management, staff, and stakeholders to ensure compliance to regulators.
  • Assist CIHB management in becoming aware of their responsibilities relating to compliance with regulatory requirements and management of compliance risk in the two subsidiaries;
  • Develop and implement a compliance program that meets the compliance-related objectives of the Group;
  • Work with CIHB management in reviewing both Peo Finance risk appetite statement and tabling it for CIHB Board approval
  • Oversee the monitoring and review of all principal risks identified for Both Peo Finance;
  • Assist in monitoring that agreed action plans in respect of all findings are finalised, logged on the issues log and track to resolution

2. COMPLIANCE UNIVERSE

  • Liaise with applicable regulators such as NBFIRA, FIA, Data Protection Commissioner etc.
  • Maintaining good relationships with BG Compliance colleagues and Peo Finance and provide regular support to the same
  • Identify, assess, and prioritize the applicable regulatory requirements that Peo Finance is required to comply with;
  • Identify and analyze the Groups compliance risk universe in accordance with the Group wide-approved methodology;
  • Workshopping Peo Finance to categorize and assess the applicable regulatory requirements in order to prioritize the risks in terms of the risk matrix;
  • Apply Generally Accepted Compliance Practice as developed by the Compliance Institute of Southern Africa when monitoring and advising on the regulatory universe and embedding the compliance process;
  • Research regulatory requirements in relation to own environment, business and determine practical implications;
  • Monitor and review current practices, identify misunderstandings, areas of concern or non-conformance and develop/support the implementation of action plans and review progress against the objectives;
  • Monitor new regulatory developments and provide input into comment to regulators,
  • Communicate the regulatory universe and risk profile to relevant stakeholders;

3. COMPLIANCE RISK MANAGEMENT PLANS

  • Develop and document compliance risk management plans in accordance with Generally Accepted Compliance Practice and the Group`s compliance framework;
  • Facilitate the implementation of controls documented in risk management plans and communicate the compliance risk management plans to affected parties;
  • Obtain agreement from relevant parties on the actions required and due dates and monitor progress in implementing the plan;
  • Use the compliance risk profile to prioritize the development of risk management plans;
  • Facilitate and/ or effect the periodic review and update of risk management plans and establish whether there are any updates to the regulatory requirements that should be addressed in the risk management plan;

4. COMPLIANCE MONITORING

  • Actively participate in process re-engineering, product development and other project meetings where invited to provide subject matter expertise on regulatory requirements and contribute to the risks and issues logs for these meetings.
  • Develop and implement a compliance risk monitoring plan for the two subsidiaries;
  • Obtain input from BG compliance in preparation for the development of a CIHB compliance monitoring plan before presenting it to CIHB management and governance stakeholders for approval;
  • Monitor compliance with applicable regulatory requirements relevant to the subsidiaries and their products and / or services;
  • Scan the regulatory environment for proposed legislative/regulatory changes and creating awareness of such changes;
  • Communicate and monitor emerging local/best practice governance requirements in terms of laws, regulations, and industry standards e.g., King IV Code of Corporate Governance, ISO standards.

5. COMPLIANCE REPORTING

  • Determine the governance requirements relating to risk and compliance reporting in both CIHB and Capricorn Group e.g., Group risk committee, CIB Board etc.
  • Determine the compliance reporting requirements and frequency to all stakeholders and regulators / supervisors in terms of regulatory requirements;
  • Analyse regulatory requirements and frequency relating to reporting to regulators / supervisors;
  • Implement and maintain a compliance reporting processes for both Peo Finance, and submit compliance reports and other assignments to relevant stakeholders and regulators within requisite deadlines;
  • Prepare and submit risk and compliance reports in the appropriate format to CIHB Board, CIHB BARC etc.;

6. INDUSTRY REGULATOR, SUPERVISOR AND STAKEHOLDER INTERACTIONS

  • Develop and implement registers of all applicable regulators and supervisors AND Identify regulations applicable to the Peo Finance;
  • Assist CIHB management in coordinating communication and liaison with regulators and supervisors as appropriate;
  • Assist management in reviewing and implementing the Group`s Contact with Regulators Policy and other procedures to address the management of the relationship with regulators and supervisors;
  • Monitor the implementation of the regulator or supervisor management policies and procedures;
  • Monitors and identifies difficulties and challenges in the relationship with regulators or supervisors and facilitate the development of remedial actions;
  • Participate in regulator and supervisor working groups, meetings, and platforms;
  • Consistently demonstrate the ability to appropriately implement regulatory requirements

Minimum requirements


  • LLB Degree/ Degree in Risk Management or related qualification
  • A Certificate in Compliance Management or any compliance related training would be a distinct advantage



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