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Banks Act Compliance Officer

Vacancy Details

Reference No.



A prominent player in the banking space is currently seeking an individual to assume the role of Banks Act Compliance Officer. The successful incumbent will be responsible for guiding and providing stakeholders with advice on requirements and regulations relating to Banks Act, directives, guidance notes and circulars.


  • Act in an advisory capacity on Banks Act by guiding stakeholders on requirements and regulations relating to Banks Act, directives, guidance notes and circulars.
  • Develop standards, policies and frameworks through consultation with relevant stakeholders and align to group policies.
  • Ensure business is complying with Banks Act related frameworks, policies and procedures by monitoring the adequacy and effectiveness thereof.
  • Identify and report non-compliance with Banks Act related frameworks, policies and procedures and ensure corrective action is taken.
  • Act in an advisory capacity on technical requirements of the Banks Act when new acquisitions are made.
  • Assist in the compilation of new acquisition applications by advising on the form, format and content thereof.
  • Lodge and position acquisition applications with the regulators for approval.
  • Review Banks Act applications made to the regulators before they are lodged and ensure completeness and accuracy thereof.
  • Ensure compliance with conditions as per the letter of approval from the Regulator by ensuring the applications system is used by business.
  • Assist Business Units (BUs) to implement Enterprise-wide Risk and Operational Risk defined policies, frameworks, methodologies and tools.
  • Customise methodologies and processes to respective business where applicable.
  • Support BUs in risk identification, measurement, monitoring and reporting.
  • Facilitate collection/reporting of Internal Loss Data, Risk Control Self-Assessment, and Key Risk Indicators.
  • Facilitate monitoring and reporting activity within divisions and BUs.
  • Create awareness and provision of training within the BUs.
  • Challenge and to advise on strategic business decisions with regard to risk taking.
  • Gaps/Issues – Responsible for the timely follow-up, documentation and status of action plans, open issues (Group Internal Audit, External Audit, Regulator and Inspector) and other initiatives waiting to be completed.
  • Committee Participation – Attend the Operational Risk Management Committee meetings, when necessary, to discuss operational risk issues.
  • Risk Mitigation – Responsible for consulting/advising the business units on ways to mitigate risks. Work with business areas and respective departments on risk analysis and mitigation.
  • Ensure business is complying with contact with regulators related policies and procedures by monitoring the adequacy and effectiveness thereof.
  • Ensure sound, professional relationships with external stakeholders through reliable and transparent conduct, accurate reporting and effective communication.
  • Build and maintain trusting relationships with internal stakeholders by proactively interacting, guiding and monitoring stakeholders in delivering on regulatory expectations.
  • Manage stakeholder expectations by clearly explaining process and timelines.
  • Manage the relationship with the regulators by ensuring their expectations and needs are met promptly and professionally.
  • Act as the key contact between the organisation and the Regulator on all Banks Act related matters.
  • Address regulatory and supervisory requirements by advising on responses that need to go to the Regulator.
  • Share knowledge of Regulators expectations by guiding management on how to approach and deal with the Regulators.
  • Ensure all regulatory commitments are logged and executed professionally and timeously
  • Coordinate regulatory visits between the organisation and regulators.


  • Honours Degree in a related field of Risk, Legal or Compliance.
  • 8+ years of Regulatory Compliance and/or Risk experience of which 3 years at Management level.
  • Budgeting.
  • Business administration and management.
  • Business principles.
  • Business terms and definitions.
  • Change management.
  • Client service management.
  • Client service principles.
  • Communication Strategies.
  • Diversity management.
  • Financial Accounting Principles.
  • Governance, Risk and Controls.

Kindly note, if you have not heard from us within two weeks of your application please consider it unsuccessful.

Position Type


Work Level



Market Related


Banking/Finance And Investment

Salary Type



Cost To Company

Affirmative Action


Geographic Location

Gauteng - JHB North