ABSA BANK
Job Summary
Act as the primary liaison between the Bank and Regulators, ensuring regulatory requirements are identified, assessed, and integrated into operations. It involves providing policy guidance, supporting compliance activities, coordinating training, and overseeing compliance in new acquisitions and due diligence projects. The position also manages compliance risk assessments, regulatory change, conduct risk, and governance reporting. Through a robust compliance risk management framework, the role promotes adherence to regulatory standards, drives awareness, and fosters a strong compliance culture across the organization.
Job Description
BUSINESS ENABLEMENT AND SUPPORT:
OUTPUT:
Build and maintain meaningful relationships with internal and external stakeholders to understand and support their business needs.
Implement established escalation processes for significant issues and concerns raised thus ensuring that there is a culture of ’no surprises’.
Actively participate in process re-engineering, product development and other project meetings to provide subject matter expertise on regulatory requirements and contribute to the risks and issues logs for these meetings.
Review formal requests from the business unit for input into regulatory reviews or risk assessments and determine if the issue can be dealt with or if it needs to be escalated.
Based on notifications received on new regulations pending, draft opinions on the impact of anticipated regulatory changes on the business unit and have the opinion reviewed by the Legal and Regulatory Compliance (LRC) Forum before submitting to Business.
Review and carry out Gap Analysis on new regulations and new policies and communicate the same to business.
Participate in designated Forums, to ensure that all new regulations that could potentially impact the assigned business unit are identified early and that plans are created to address the requirements.
Provide guidance notes to the business unit on processes, policies and controls at their request.
Provide subject matter input for the development of business unit training to ensure that technical regulatory requirements are covered correctly (for example AML regulations).
On invitation, do presentations or briefing sessions with business unit CMC.
Share regulatory technical product and transactional knowledge of the business
Interpret rules and regulations of specific – Laws, Acts, bills, white papers, Government Gazettes etc. in line with strategy, goals and risk attitude of business.
Assist business units in developing operating procedures and controls in order to manage the appropriate regulatory risk.
Ensure that key stakeholders in the business unit are signed up for their deliverables (including the business unit COO, policy owners, process owners and line managers).
COMPLIANCE REVIEW/ MONITORING SPECIFIC
OUTPUT:
Support the Head of Compliance to manage the compliance function ensuring commercially sound Compliance guidance and support in a professional and helpful manner, always considering the potential alternatives within the rules and regulations applicable.
Ensure that stakeholders’ / management requests and needs are addressed and workable solutions agreed
Communicate planned regulatory compliance reviews to the management team in the business unit at the start of each year and when plans are updated.
Escalate queries for Group level issues to the Head of Compliance and respective parties in accordance to the applicable Framework or guidance.
Track regulatory observations and work with business to ensure regulatory recommendations are addressed
Maintain a log of regulatory commitments and work with business to ensure these are met in accordance with regulatory timelines
On request, update content on the BBU Compliance intranet site by providing edited content to the authorised publisher specific to the relevant regulatory requirements (as mandated).
Ensure that the maintenance of regulatory commitments and regulatory contacts relevant to the business unit and the associated update and the attestation calendars are adhered to.
Participate in relevant Compliance Forums to share experiences and best practices with Compliance colleagues from across the Group.
Participate in business unit risk and compliance forums and ensure that participants in these forums are adequately informed on regulatory compliance requirements (specifically mandated).
Provide input to Group Compliance on the compliance themes that should be covered in awareness campaigns. Provide content on request.
Co-ordination of specific regulatory compliance related activities* within the business with the focus on monitoring and advice of the specific laws, regulations (as required by management). (*Specific Compliance related activities include, incidences of breach, high risk legislation and the associated policies and procedures which requires continuous monitoring and regular update / attention).
Continuously ensure the management of regulatory compliance (specific) responsibilities within Compliance in respect of the development and support of:
Identification, Measurement, Management and Monitoring of compliance risk, Training, awareness and advice, Regulatory reporting and Assist in business specific Compliance Projects
Regular assessment of findings (specific) in order to establish trends and escalate all issues of a significant nature to the appropriate stakeholders on a timely basis and through correct governance channels
Drive Absa Compliance Initiatives and develop and drive implementation of Absa Bank Uganda policies
Customize the compliance activities (as determined by management) to the coverage plan for the business unit, which includes reporting, meeting requirements and compliance reviews.
On a regular basis ensure the update of the business unit compliance risk profile graph in the Group Compliance manual and on an annual basis add the updated Compliance Risk Management Plan.
Represent the business unit at Group level compliance projects and occasionally act as advisor in Group Change projects that have a Compliance work stream.
Technical Skills / Competencies
Intellectual and analytical skills of a high order. He/she is likely to be a graduate and / or have a professional qualification.
The strength of character, credibility and personal presence and the communication skills to operate confidently and effectively at senior levels both internally and externally.
The flexibility to appreciate the commercial objectives of the business, coupled with an ability to challenge independently and constructively, senior management, peers or other staff where appropriate, to insist upon adherence to the highest standards of business practice and to the requirements of relevant authorities. Tact and sensitivity as well as strength and authority are important.
Ability to use initiative and work with minimum supervision but ensuring, at the same time, that the line reports are kept fully informed at all times.
Ability to consider issues from a range of angles and propose creative solutions that assist the business in achieving its goals in a safe, compliant and controlled manner.
Ability to communicate effectively, orally and in writing, with senior internal and external audiences – to educate, persuade, negotiate, gain decisions, enforce.
Ability to influence senior management.
Ability to make a real contribution in a rapidly changing environment and thrive on change and the need to learn rapidly.
Market Knowledge and innovation
Wide-ranging compliance experience in a financial services environment.
Good understanding of current and anticipated African, and other countries’ requirements and supervisory expectations.
Experience in policy setting and roll out
Experience
Essential
NQF Level 7: Honours/Master’s Degree
Masters/ Honours degree in Commerce or Law
Certificate in Compliance Management
Three years postgraduate experience in law, auditing, risk management or compliance with Technical / Managerial experience
Education
Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)
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