Head of Regulatory Compliance

About the role

A recruiter representing a client in the Banking and Financial Services sector is looking for a Head of Regulatory Compliance to join its Compliance division in Somerset West, Western Cape. The role is responsible for developing, implementing and overseeing the Compliance Risk Management Framework (CRMF), ensuring adherence to banking legislation, regulatory requirements and governance standards, and providing strategic compliance guidance to Executive Management and the Board.

Key responsibilities

• Develop, implement and maintain the CRMF
• Ensure compliance with banking legislation, Prudential Authority requirements, FSCA regulations and the National Credit Act
• Maintain the regulatory universe and obligations register
• Develop annual compliance monitoring plans and track corrective actions
• Monitor legislative and regulatory changes and advise the business
• Manage engagements with regulatory authorities, including inspections, reviews and information requests
• Oversee compliance reporting, breach registers and compliance attestations
• Advise Executive Management, the Board and stakeholders, and assess regulatory implications of new products, services, partnerships and digital initiatives
• Collaborate with risk, audit and specialist compliance functions, develop compliance training and support the growth of the compliance function

Required profile

• Bachelor's degree in law, Commerce, Risk Management or a related field
• Minimum 10 years' compliance experience in Banking or Financial Services
• Minimum 5 years' experience in a senior regulatory compliance leadership role
• Proven experience with CRMFs and engagement with the Prudential Authority, FSCA and/or National Credit Regulator
• Experience with regulatory inspections, monitoring, reporting, risk identification and remediation

Required skills

• Strong knowledge of South African banking legislation and regulatory requirements
• Compliance monitoring and testing methodologies
• Regulatory interpretation, stakeholder management and executive reporting
• Leadership, communication and attention to detail

Advantageous: recognized professional compliance qualification, experience in a newly established or rapidly growing bank, and experience building compliance functions. Applications not contacted within 14 days should be considered unsuccessful.