Job Description

Hello future Market Conduct Regulatory Risk Practice Lead!

FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand's business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you!

Role Purpose :

To provide insights and advice to the group on how FirstRand can and should abide by and implement Market Conduct laws and regulations, related Financial Services Sector Codes of Conduct and internal frameworks and policies to ensure fairness to all clients and customers and market integrity.  

• Key Responsibilities
  
  • ​
  • Demonstrate leadership behaviour through personal involvement, commitment and dedication in support of organisational values
  • Develop, encourage and nurture collaborative relationships across business areas and across the group
  • Identify, drive and implement ideas, policies, procedures, standards and frameworks to enhance awareness and accountability for good market conduct outcomes and manage future fit practice
  • Develop tactical strategy and delivery plans in support of functional strategic objectives in partnership with leadership, centre of excellence, other risk disciplines and first line
  • Deploys integrated risk management, governance and compliance frameworks throughout area of responsibility
  • Establish mutually beneficial relationships with stakeholders that support thought leadership, innovative and integrated practice solutions
  • Develop and implement processes, policies, procedures to mature the Market Conduct practice
  • Identify and contribute towards appropriate market conduct monitoring plans, in accordance with legislation and relevant to the license types
  • Ensure that internal stakeholders update non- compliance incident logs on the Archer system and issue risk and root cause analysis reports as
  • Ensure that all internal and external regulatory reporting obligations are discharged
  • Enhance the general Programme through, regular review and prioritisation based on identified risk and horizon scanning for emerging trends and risk
  • Ensure compliance requirements in respect of market conduct are effectively communicated and overseen - including FAIS, Insurance and Pension Funds (where applicable), CISCA
  • Review of internal policies, minimum standards, and guidance notes
  • Prepare Group comment and position papers for submission to the relevant industry or regulatory bodies
  • Consult with, support, and engage collaboratively with segments to ensure that market conduct programme deliverables are met and that the internal control framework suffices to address conduct risks
  • Host internal meetings and workshops activities around key regulatory risk issues, including preparation and retention of comprehensive and accurate minutes
  • Lead development of Conduct training, awareness and interventions
  • Participate in learning and development initiatives
  • Assist with the development and implementation of new procedures, controls, and programmes for the Group, in response to new legislative requirements
  • Remain abreast of market conduct regulatory framework, as it evolves i.e.,TCF, COFI, the FSR Act, discussion papers (e.g. Unclaimed Assets, open Finance), Conduct Standards, emerging regulatory trends and relevant Ombud and Tribunal determinations
  • Attend and participate in internal relevant committees and forums
  • Provide advice into the FSR programme deliverables in terms of FSCA expectations, market conduct regulatory themes in relevant jurisdictions, and emerging trends and risk
  • Prepare and/or contribute to internal reports
  • Contribute to development of meaningful management information and risk indicators
  
  
  Additional Requirements
  
  Qualifications and Experience
  
  • Minimum Qualification - Post Graduate Degree in Law, Risk Management, Market Conduct, Compliance Management or Business Conduct
    
  • Experience - 5 to 8 years experience in a similar environment, of which 2 to 3 years ideally at management level
    
  • Additional Knowledge - Financial Services Industry
    
  • Compliance
    
  • Risk
    
  • Market Conduct
    
  • FAIS
    
  • Agile and effective regulatory change management
    
  • Holistic view of customer target groups and product life cycle
    
  • Excellent communication and report-writing skills
    
  • Strong interpersonal skills and Emotional intelligence
    
  • Ability to assess regulatory requirements for business impact
    
  • Ability to analyse data points
    
  • Function effectively within teams and independently
    
  
    #FCC #POST #Li
  

Job Details

Application Closing Date

17/08/24

All appointments will be made in line with FirstRand Group's Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.