SUMMARY:
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POSITION INFO:
Purpose
The Compliance Officer will be responsible for ensuring that Salt EB adheres to all legal and regulatory requirements related to being a financial services and retirement fund administration provider. This includes monitoring compliance with South African financial sector and retirement fund legislation, providing guidance to internal teams, and implementing compliance frameworks to mitigate risks.
Key Responsibilities
- Develop, implement, and maintain compliance policies and procedures in line with the Pension Funds Act, Financial Sector Regulation Act, Financial Advisory and Intermediary Services (FAIS) Act, and other applicable legislation.
- Monitor legislative and regulatory developments affecting the financial services and retirement fund industries and advise stakeholders on compliance obligations.
- Conduct regular compliance audits and risk assessments to ensure adherence to legal and regulatory standards.
- Develop and implement compliance training programs for employees to promote awareness of regulatory requirements.
- Ensure that Salt EB maintains proper records and documentation in compliance with regulatory requirements.
- Act as a liaison between Salt EB and its outsourced compliance consultant (Moonstone), regarding compliance matters.
- Act as a liaison between Salt EB and regulatory bodies, such as the Financial Sector Conduct Authority (FSCA), regarding compliance matters.
- Assist in preparing reports for the Board, senior management, and regulators on compliance-related matters.
Investigate compliance breaches and work with relevant departments to implement corrective actions.
- Support the due diligence process for clients and service providers to ensure compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
- Stay updated on industry best practices and emerging compliance risks related to the financial services sector and retirement fund administration.
Qualifications & Skills
- Bachelor’s degree in law, Business Administration, Risk Management, or a related field.
- Registered Compliance Officer (FSCA approval) or relevant compliance certification (e.g., CPrac (SA), CProf (SA), or similar).
- Minimum 3-5 years of experience in compliance, risk management, or regulatory affairs within the retirement fund industry or financial services sector.
- Strong knowledge of South African financial services and retirement fund laws, regulations, and industry standards.
- Excellent analytical, problem-solving, and communication skills.
- Ability to work independently and provide strategic compliance advice to senior management.
- Proficiency in Microsoft Office Suite and compliance management systems.
- Experience working with retirement funds and financial services.
- Familiarity with King IV governance principles and risk management frameworks.
- Strong interpersonal skills to engage with stakeholders at various levels.
