A well-established wealth management firm and authorised financial services provider is seeking a highly skilled Compliance Officer to join their experienced Compliance team. This role requires a strong understanding of financial services legislation, particularly the Financial Intelligence Centre Act (FICA). The ideal candidate will play a key role in ensuring compliance, mitigating risk, and enhancing regulatory processes across the business.

Key Responsibilities:

Regulatory Compliance & Risk Management:

Assist the Head of FICA Compliance in integrating Risk Management and Compliance Program (RMCP) requirements into the business.
Act as the Money Laundering Reporting Officer (MLRO), investigating and reporting suspicious transactions as required.
Prepare and submit Risk & Compliance Reports to regulatory bodies, including the Prudential Authority (PA) and the Financial Intelligence Centre (FIC).
Develop and refine processes to support RMCP and implement new or updated regulatory requirements.
Conduct Anti-Money Laundering (AML) due diligence on third-party entities and manage AML-related questionnaires for external parties, including offshore entities.
Contribute to the development and assessment of the firm’s due diligence questionnaires.
Provide input on technology solutions to improve compliance controls and processes.
Review and update internal policies, procedures, and FICA checklists.
Support FICA-related projects such as risk assessments and assist in drafting AML policies.
Evaluate Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs) for review and submission.
Assist in regulatory inspections and reviews, preparing submissions and liaising with regulators such as the FIC, FSCA, and PA.
Interpret and guide the business on new legislation, including PCCs and other regulatory instruments.
Oversee Enhanced Customer Due Diligence (ECDD) processes, including staff training and reporting findings to senior management.

Training & Awareness:

Develop and deliver regulatory training sessions on FICA and compliance matters.
Assist the Head of FICA Compliance in preparing and conducting compliance training.
Prepare and maintain training materials to address compliance gaps identified through monitoring.
Respond to FICA-related queries from internal teams.

Monitoring & Reporting:

Conduct ongoing compliance monitoring reviews across the group’s accountable institutions.
Assess the integration of regulatory changes within business operations.
Work closely with business units to discuss compliance findings, assign risk ratings, and implement corrective actions.
Prepare and finalize monitoring reports with supporting documentation.
Track the progress of remedial actions and escalate unresolved compliance issues.
Conduct sample testing of remediation efforts to ensure effectiveness.
Perform enhanced compliance monitoring for high-risk clients and escalate findings as needed.
Ensure compliance with legislation including the Long-Term Insurance Act, Insurance Act, FAIS Act, Pension Funds Act, and relevant tax laws.
Monitor compliance with insurance license conditions and prepare quarterly reports.
Maintain accurate record-keeping of compliance monitoring reports.

Other Duties:

Conduct sanctions screening and investigate flagged transactions.
Provide support on additional compliance-related projects as required.

Required Qualifications & Experience:

Legal degree or relevant qualification.
Minimum 5 years of compliance experience in the financial services industry (insurance background preferred).
Strong knowledge of FICA, ML/TF Control regulations, and FIC guidance notes.
Familiarity with the Insurance Act, Long-Term Insurance Act, FAIS Act, and Pension Funds Act.
Understanding of FATCA and CRS (advantageous).
Experience dealing with various entity structures, including non-profits, foundations, SOEs, and offshore structures.
Membership with the Compliance Institute of South Africa (CISA).

Key Competencies & Attributes:

Analytical and process-driven approach.
Exceptional attention to detail and problem-solving skills.
Strong organizational and planning abilities.
Ability to engage effectively with stakeholders at all levels.
Professional skepticism with the ability to query, challenge, and assess risks.
Excellent verbal and written communication skills.
Resilient, adaptable, and able to perform in a high-pressure environment.
Team player with the ability to work collaboratively.

Technical Skills:

Proficiency in Microsoft applications.
Experience with internal compliance systems.

If you meet the above requirements and are looking for an opportunity to advance your compliance career within a reputable financial services provider, we encourage you to apply.