Compliance Manager

About the Role

The Compliance Manager is responsible for establishing, maintaining and enhancing the compliance framework for an assigned business portfolio. The role provides compliance management, advice and oversight to support responsible operations, effective controls and regulatory adherence.The role ensures adherence to applicable regulatory, contractual and internal governance requirements. For the Money Transfers portfolio, this includes financial-intelligence, anti-money-laundering and counter-terrorist-financing requirements, sanctions obligations, exchange-control requirements, data protection, partner obligations and relevant regulatory standards.The role is accountable for compliance monitoring, governance reporting, regulatory engagement, control assurance, remediation management, policy development and oversight of financial-crime controls, tailored to the requirements and risk profile of the assigned portfolio.

Key Duties

• Compliance Governance and Framework Develop and maintain the Money Transfers Compliance Plan.
• Maintain the Regulatory Universe and Compliance Risk Register.
• Develop and maintain compliance policies, standards and standard operating procedures.
• Ensure compliance frameworks remain aligned with regulatory, contractual and business changes.
• Coordinate annual reviews of the RMCP, Business Risk Assessment and Compliance Plan.
• Provide compliance input into new products, distribution channels, systems and partnerships.
• AML, CFT and Financial-Crime Compliance Oversee Customer Due Diligence and Enhanced Due Diligence controls.
• Oversee sanctions, politically exposed person and other required screening controls.
• Oversee transaction-monitoring governance, alert management and investigation standards.
• Ensure effective suspicious and unusual transaction escalation processes.
• Monitor money-laundering, terrorist-financing and proliferation-financing risks.
• Oversee regulatory reporting controls and evidence-retention requirements.
• Identify emerging typologies and financial-crime risks relevant to money transfers.
• Maintain constructive relationships with regulators, sponsor banks and other regulated partners.
• Coordinate accurate and timely regulatory submissions, information requests and responses.
• Ensure compliance with partner-bank contractual and control obligations.
• Coordinate inspections, audits, attestations and regulatory reviews.
• Maintain evidence that regulatory and contractual compliance obligations have been fulfilled.
• Develop and execute a risk-based compliance monitoring programme.
• Perform thematic reviews and control testing across customer, transaction, store and agent processes.
• Monitor compliance with FICA, AML/CFT, sanctions, Exchange Control and record-keeping requirements.
• Track internal audit, external audit, partner-bank and regulatory findings.
• Maintain breach, issue, action and remediation registers.
• Escalate material control failures, overdue actions and regulatory breaches.
• Produce clear monthly compliance dashboards and management information.
• Report compliance risks, incidents, trends and control effectiveness to relevant governance forums.
• Develop, maintain and monitor key risk and performance indicators.
• Analyse compliance trends, root causes and emerging regulatory risks.
• Provide decision-useful recommendations to business leadership.
• Maintain compliance policies, procedures and supporting control documentation.
• Ensure regulatory and contractual requirements are embedded into operational procedures and customer journeys.
• Oversee mandatory AML/CFT and compliance training programmes.
• Support competency assessments, refresher training and awareness campaigns.
• Drive a strong compliance culture across central office, stores, agents and support teams.
• Ensure regulatory record-retention requirements are met.
• Oversee appropriate governance of customer and transaction data used for compliance monitoring.
• Support compliance with POPIA and internal data-governance requirements.
• Enable reliable compliance analytics, monitoring and regulatory reporting.
• Drive continuous improvement in compliance data quality, completeness and accessibility.
• Lead, coach and develop the compliance team, setting clear priorities, performance expectations and accountability.
• Build team capability through ongoing guidance, knowledge sharing and development planning.
• Promote a collaborative, high-performance culture that supports ethical conduct and effective compliance delivery.

Qualifications

Bachelor’s degree in Law, Commerce, Risk Management, Auditing, Compliance Management or a related discipline

Requirements

• Financial Intelligence Centre Act and associated AML/CFT/CPF requirements.
• Financial Intelligence Centre guidance and reporting requirements.
• Exchange Control Regulations and the SARB ADLA framework.
• National Payment System requirements relevant to money transfers and payments.
• Protection of Personal Information Act.
• Compliance monitoring, risk assessment and control-testing methodologies.
• Governance, issue management, record keeping and regulatory reporting.

Preferred Qualifications

• Postgraduate qualification in Compliance, Risk or Financial Crime.
• Relevant professional certification, such as CPrac (SA), ACAMS or an ICA qualification in AML or Compliance.

Experience

• At least 7 years’ compliance experience, including a minimum of 3 years in financial services, banking, payments, remittances or another regulated financial services environment.
• Practical experience in AML/CFT compliance, regulatory reporting, compliance monitoring, audits and remediation management.
• Experience engaging regulators, auditors, sponsor banks and senior business stakeholders.
• Experience managing compliance teams or specialist resources.

Preferred Experience

• SARB, FIC, banking, remittance or payments experience.
• Exchange Control and cross-border remittance experience.
• Experience with transaction-monitoring, sanctions-screening and compliance-reporting systems.