Compliance Assurance Officer

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With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

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Job Summary

The Compliance Assurance Officer plays a pivotal role in ensuring that ABML effectively mitigates compliance risks by combining traditional testing methods with advanced data analytics to uncover potential vulnerabilities. This position is central to a range of activities designed to maintain regulatory compliance, protect the organization’s reputation, and safeguard its assets. The officer will work closely with the Head of Monitoring, Testing, and Training to manage compliance risk in alignment with both Group policies and local regulatory standards.

The Compliance team is seeking a candidate with a strong passion for technology, particularly with experience in technology infrastructure and systems analysis. The successful individual will become an integral part of the Compliance Monitoring & Testing team, ensuring strict adherence to applicable laws, regulations, and internal policies. They will be responsible for executing monitoring assignments in alignment with the Group Compliance Assurance Methodology, as well as relevant policies, procedures, and quality standards.

Job Description

Monitoring and Testing:

• Conduct compliance conformance reviews of key risk areas including but not limited to Compliance risks, ensuring adherence to regulatory requirements.

• Systematically apply the pre-defined compliance methodology when conducting reviews which include but not limited to the following:

  • Understand and document processes on the Audit tool

  • Identify, assess & document risks and controls within the processes on the Audit tool

  • Evaluate the design and operating effectiveness of control.

  • Perform testing to independently evaluate the adequacy and effectiveness of the controls in accordance with the applicable internal policies and local regulatory requirements.

  • Draft a report detailing findings and corresponding agreed action plan in a concise and accurate way whilst ensuring that the allocated rating for each finding is in line with the Risk and Issue Classification Matrix.

  • Update the Audit tool with all relevant working papers and ensure sign off before final report is issued

• Perform IT risk assessments to identify high risk areas that require focus.

• Conduct IT related audits as guided by the risk-based audit plan to assess the governance and management of data integrity, security, software development and IT governance within the business, including but not limited to:

  • Pre and post-implementation reviews of system implementations or enhancements.

  • Reviews of IT management policies and procedures such as change management, business continuity planning/ disaster recovery and information security to ensure that controls surrounding these processes are adequate.

  • Evaluate application and information general computing controls and test compliance with those controls.

  • Systems development audits to verify that systems that are being developed meet development standards.

  • Systems and application audits that evaluate whether systems and applications are controlled, reliable, efficient, secure and effective.

  • IT security audits, including evaluating security vulnerabilities and whether they are properly identified and mitigated.

• Provide business with guidance and recommendations on IT risk management, with particular focus on applications, infrastructure and security.

• Identify opportunities for using Data Analytics and enhanced automated auditing techniques.

• Conduct compliance self-assessment reviews as per the annual Compliance Assurance plan

• Make use of data analytics to provide greater assurance and generate valuable insights

• Provide timely feedback to the Compliance Monitoring and Testing Manager and the Head of M&T on the progress of the review and on identified observations and findings

• Follow up on the implementation of action plans within agreed time frames, in line with the methodology

• Track to closure all findings raised during reviews and validate closure of findings as per the defined process and methodology and update the Audit tool accordingly

• Provide timely reports of compliance monitoring reviews for senior management, including monthly and quarterly MI and updates on follow-up actions

• Perform adhoc compliance reviews on specific matters at the request of Head of M&T

Risk Identification and Assessment:

• Identify and evaluate risks related to compliance in various business processes

• Develop parameters to proactively monitor compliance risks across the bank

• Develop risk-based monitoring approaches to prioritize testing efforts in high-risk areas

Reporting and Documentation:

• Prepare and deliver detailed reports summarizing the results of compliance testing and monitoring activities

• Highlight findings, provide risk assessments, and recommend corrective or preventive actions to management

• Ensure accurate documentation of compliance tests, assessments, and outcomes for internal records and audit purposes

Regulatory Knowledge and Compliance Updates:

• Stay informed about regulatory changes and industry trends to ensure the organization’s compliance framework remains up to date

• Based on outcome from reviews conducted, provide insights for new compliance policies and procedures to meet regulatory and business needs

• Upon completion of assurance reviews, create awareness to departments on regulatory requirements and best practices.

Continuous Improvement:

• Recommend and implement continuous improvements to compliance testing methodologies and strategies

• Assess the efficiency of existing compliance processes and suggest improvements for better performance

• Foster a culture of innovation within the team to identify process improvements and enhance compliance assurance activities

• Monitor for basic security non-compliance issues (e.g., outdated software, unapproved tools).

• Assist in user awareness training on security and compliance.

Stakeholder Management
Stakeholder Communication and Support:

• Collaborate with various departments (e.g., legal, internal audit, operations) to address compliance issues and implement effective controls

• Serve as the primary point of contact for escalated compliance issues within the team and assist in resolving complex compliance concerns

• Work with IT teams to collect evidence for reviews conducted by compliance team

Competencies
Preferred Education & Experience:     

• A bachelor’s degree in IT or any related qualifications

• A minimum of 2 years’ experience in using data analytics for decision making purposes 

• Strong knowledge of data analytics tools

•  Degree with minimum 5 years relevance experience 

Technical Competencies including knowledge and skills:    

•  Planning and Organising: Establish clear objectives and priorities in line with Compliance strategy

• Ability to work under pressure whilst meeting all deadlines 

• Intellectual and analytical skills: 

• Analyse and integrate information and use appropriate knowledge, procedures and techniques to solve problems  

• Presenting and disseminating information: Accurately and concisely express opinions/information and display confidence in facilitating presentations

• Report writing skills: Ability to write report in a concise and factual manner 

• Communication skills: Ability to communicate effectively, orally and in writing, with senior internal and external audiences – to educate, persuade, negotiate and take decisions.

• Ability to use initiative and work with minimum supervision but ensuring, at the same time, that the line reports are kept fully informed at all times

• The strength of character, credibility and personal presence to operate confidently and effectively at senior levels both internally and externally

• Ability to be flexible coupled with an ability to challenge, independently and constructively senior management, peers or other staff where appropriate,

• Ability to consider issues from a range of angles and propose creative solutions that assist the business in achieving its goals in a safe, compliant and controlled manner

• Lead by example and create a positive work attitude

• Good knowledge of MS Office, IT conversant and ability for technology integration such as Artificial Intelligence (AI)

Education

Higher Certificates and Advanced National (Vocational) Certificates: Business, Commerce and Management Studies (Required)