Head of Group Compliance

Job Advert Summary

To lead, modernise and take the PPS Group compliance function to the next level. Reporting to the Group Executive: Legal and Compliance, the Head of Group Compliance is responsible for designing and driving the Group compliance strategy, embedding a forward-looking, technology-enabled and data-driven compliance operating model across the PPS Group. The role owns the day-to-day leadership of the Group Compliance department: setting Group compliance standards and policies, managing the compliance risk management process end to end, leading the relationship with the regulators, and ensuring a consolidated, defensible compliance risk management and reporting framework across the accountable institutions, subsidiaries and, where relevant, affiliates. The role holder is expected to be a hands-on, innovative compliance leader who champions automation, data analytics and Governance, Risk and Compliance (GRC) systems to deliver a modern, efficient and audit-defensible compliance function, while remaining willing to assist the team directly with monitoring and the implementation of new legislation when required. The role further owns second-line compliance monitoring and assurance, the market conduct and Treating Customers Fairly (TCF) framework, the regulatory universe and CRMPs on CURA, statutory regulatory returns, and the compliance training curriculum.

Minimum Requirements

Education:

• LLB degree (NQF 8) and admission and enrolment as an Advocate or an Attorney of the High Court of South Africa, essential.
• CAMS (Certified Anti-Money Laundering Specialist) or AML Prac (SA) certification, essential.
• Certified Financial Planner (CFP) designation, essential.
• Post Graduate Diploma in Compliance Management (NQF 7), preferred.
• Compliance Professional (C Prof) or Compliance Practitioner (C Prac) designation, preferred.
• FAIS RE 1 (Key Individual exam), preferred (supports registration as a FAIS Compliance Officer).

Experience:

• 7 to 10 years in senior management positions within compliance, financial crime, legal or risk in financial services, preferably at a large corporate insurer or bank, required.
• Proven track record of having held the role of Head of Compliance and/or Head of Financial Crime, required.
• FAIS Compliance Officer experience, or having overseen the FAIS compliance officer function, required.
• Experience as an Information Officer, or having overseen the Information Officer function (POPIA / PAIA), required.
• Demonstrable experience working with the PA, FSCA, IR and the FIC, and having managed onsite inspections from these regulators, required.
• A known, demonstrable track record of compliance innovation, required.
• Automation and data analytics experience applied to the compliance function, required.
• Experience in the selection and implementation of Governance, Risk and Compliance (GRC) systems, required.
• Extensive knowledge of financial services legislation, for example LTIA, STIA, FAIS, FICA, POPIA, PAIA, CISCA, the Insurance Act, FSRA and the Prudential Standards, required.
• Expert knowledge of Compliance Risk Management Methodology and the ability to function proactively and strategically with a holistic, group-wide view, required.
• Wider experience in legal and risk management, advantageous.
• Willingness to be hands-on and assist the team with monitoring or implementing new legislation when required, required.
• Proven experience owning a compliance monitoring plan and second-line assurance across a group, required.

Experience in market conduct risk management and the Treating Customers Fairly (TCF) framework, required.

Experience leading a regulatory remediation programme (e.g. a FICA remediation programme) and coordinating external assurance providers, advantageous.

Duties and Responsibilities

Set and drive the Group compliance strategy and modernisation agenda, by translating the Group Legal and Compliance strategy into an executable compliance plan, defining the target operating model, and taking the function to the next level through innovation. Champions a known, demonstrable track record of compliance innovation and continuous improvement, benchmarking PPS practices against leading peers and regulatory expectations.

Lead and modernise the compliance operating model, by driving automation and data analytics into compliance monitoring, reporting and assurance; leading the selection, implementation and optimisation of GRC systems; and using management information and analytics to give the Boards and Exco earlier, sharper insight into compliance risk. Delivers measurable efficiency, quality and coverage improvements.

Own the Group compliance risk management process, by setting Group standards and policies, scanning the regulatory universe to identify and interpret compliance requirements, driving implementation into business processes, overseeing training, and monitoring and reporting on compliance across the PPS Group. Reviews the activities of subsidiary and affiliate compliance functions to ensure a consolidated compliance risk management process and reporting exists across the Group, and manages compliance incidents and breaches to resolution.

Manage the relationship with regulatory authorities, by acting as a senior point of engagement for the Prudential Authority (PA), the Financial Sector Conduct Authority (FSCA), the Information Regulator (IR) and the Financial Intelligence Centre (FIC). Leads and coordinates PPS Group preparations for and responses to onsite inspections and information requests, manages findings to remediation, and communicates clearly and timeously with regulators, explaining the unique mutuality-based nature of the PPS Group.

Own the Information Officer / privacy oversight function, by holding, or overseeing, the Information Officer responsibilities in terms of POPIA and PAIA, maintaining the privacy compliance framework, overseeing PAIA manual and data subject processes, and ensuring the protection of personal information across the Group.

Support the MLCO and oversee the financial crime programme, by acting as Money Laundering Reporting Officer (MLRO) and supporting the Group MLCO in the effective implementation, maintenance and review of the Group Risk Management and Compliance Programme (RMCP) for AML/CFT/CPF; overseeing the FIC Compliance Officer function; and coordinating remediation of financial crime deficiencies identified through regulatory inspection, audit or assurance.

Own second-line compliance monitoring and assurance, by owning the Group Compliance Monitoring Plan (CMP) and acting as second-line custodian of the annual Financial Crime Assurance Plan. Plans and executes risk-based monitoring reviews (including distribution and adviser monitoring, and facilities/OHS reviews) across the Group and subsidiaries, produces audit-quality monitoring reports and management information, tracks findings to remediation, and ensures monitoring evidence is defensible on regulatory inspection.

Own the market conduct and TCF framework, by developing, embedding and maintaining the Market Conduct Risk Management Framework and the Treating Customers Fairly (TCF) outcomes across the Group, coordinating the related working groups with the subsidiaries, and reporting on conduct risk to the relevant committees and Boards.

Own the regulatory universe, CRMPs and regulatory returns, by maintaining the Group regulatory universe, producing impact assessments for new and amended legislation, and developing, reviewing and updating CRMPs in line with the approved methodology. Facilitates the completion and submission of statutory regulatory returns (including the AML Risk Return to the PA and Omni-CBR return readiness), and maintains the Group standards and policy library in accordance with the PPS Group Policy Review Plan.

**Oversee compliance training and the champion