LEGAL, COMPLIANCE AND AML OFFICER

Cape Town, Western Cape
Permanent
Full-time

24 days ago

Cape TownPermanentGeneral Summary:

Compliance Officer is required to monitor and report on the ongoing compliance of the firm and its portfolios with the legal and regulatory environment
Requires detailed understanding of the existing regulatory structures and reporting requirements which govern international financial services
Required to report to, and make recommendations to the Executive with regard to developments of policies and procedures to improve compliance function
Designated person appointed to report to regulatory authorities with regard to all Money Laundering and ancillary matters

Reporting Structure:

Reports to Group Head: Legal and Compliance
Reports to Group Executive Committee

Duties and Responsibilities
The scope of the duties detailed below would apply primarily to the legal and regulatory
environment within the Mena and GCC (and/or EU) Regions. The nature of the financial
services legislation is primarily sourced from the UK, therefore candidate with expertise
in this jurisdiction will naturally be eligible for consideration.Specific Duties:

Develop and review the Compliance Manual of the firm to ensure that it comprehensively covers all the operational aspects to ensure that the firm is not exposed to any form of legal risk, encompassing:

ο Legislative Requirements
ο Firm Specific Policies
ο Client Specific requirements

Responsible to respond to any form of violations or rules, regulations, policies and

procedures with a view towards immediate resolutions. All events to be documented and material events should be reported to the Executive Committee

Develop and implement systems for daily, weekly, monthly, quarterly and annual Compliance Checks and test the applicability and validity of these checks on a regular basis to ensure that it is aligned with developments in governing legislation as well as with client specific request.
Identify potential areas of vulnerability and risk
Ability to interact with the various departments encompassing, Investments, Administration, Finance and internal audit.
Handle the management and communication of the firm’s views with regard to Corporate Actions relating to listed securities which the firm may hold on behalf of its clients.
Legal: All the contracts and relationships are reviewed by the department to ensure that the companies within the Group are not exposed to unnecessary risk and that they are in compliance with all the relevant laws and regulations.
Compliance: Compliance procedures are conducted by the department to prevent contravention of relevant laws, regulations, investment mandates, investment restrictions and benchmarks applicable to the various portfolios. The department also ensures that all the reporting requirements as envisaged in each particular jurisdiction are adhered to.

ο Anti Money Laundering: “Know your Customer’ requirements and documentation in respect of various types of clients including, individual and institutional clients is in place. The guidance for completion of documentation is dependant upon the relevant jurisdiction of the operating entity, and includes: Criminal Justice Acttlreland), FICA Act (South Africa), Federal Law No 4 dealing with money laundering (Dubai) and that all the UN Security Council Resolutions in this respect are incorporated in our procedures.

Company Secretarial: Ensure compliance with Code of Corporate Governance and adherence with best global practices. This would include but is not limited to:

ο Scheduling of the meetings of the various Boards of Directors of the Group Companies and their committees.
ο Ensuring that the notices and Board packs are distributed on timely basis to the executive and external directors.
o Preparation and circulation of minutes.

Shari’ah Compliance: Ensure that all rulings and guidelines of the Shari’ah Supervisory board are carried out. Reporting to the Shari’ah Supervisory Board for issuance of interim and annual reports.

Qualifications and Experience:

Minimum Qualifications:

o Barrister / Solicitor (if foreign) / Attorney (SA)
o Masters level qualification in Law

Must have ability to effectively communicate in a business environment in Arabic and English using written and verbal communication
Must have Intermediate level computer skills to operate Microsoft suite of products with an understanding of computer networking and software applications pertinent to financial services

Additional Qualifications which will be preferred:

ο Professional Designation as a compliance officer
ο Strong interest in Shari’ah Law and Shari’ah investments
ο A candidate with an undergraduate level Accountancy qualification
ο Candidate who has worked closely with Internal Audit functions

Experience

o Candidate should preferably have a legal background with 10 years professional experience
ο In depth operational knowledge of Financial Services legislation within the following jurisdictions:

United Kingdom
Rep of Ireland

ο Candidate must have specific knowledge pertaining to Mutual Funds or Collective Investment Schemes
ο Specific knowledge of new product development and regulatory and government reporting standards
ο Ability to incorporate internal audit principles when undertaking compliance checks on the firm and its portfolios.Package Structure:
1. Quoted Annual Cost to company package including:
a. Basic Salary
b. Employer Provident Fund Contribution
2. Performance Incentives
c. Discretionary Bonus (annual) subject to achievement of individual/departmental Key Performance Attributes (KPA)
d. Discretionary Fringe Benefits / Incentives subject to achievement of individual/department KPA

Wenz Recruitment

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