Execute and manage monitoring assignments in accordance with the Compliance Monitoring plan and Relevant policies, procedures and quality standards. The Specialist: Assurance is responsible for the quality of monitoring specific to the specialist activities to ensure adherence to external and internal regulations and policies. The implementation of all Compliance training programmes within country.
Main accountabilities and approximate time split
Contribute to the planning process by providing specialist input into key regulations which need to be tested by the centralized team so that high risk areas are monitored. Develop testing strategies for key controls within the business in order to adequately mitigate the risks by confirming that the testing strategies address the control. Manage the execution of Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) of the consultants in line with methodology requirements to ensure working papers are of a high quality. Review the DEA and OET working papers of controls tested aligned to the specialist area to confirm that the correct control assessments have been raised. Provide effective feedback to the team on an on-going basis during the monitoring assignment to address any concerns relating to testing performed. Engage with stakeholders on progress of the monitoring activities so that they are aware of issues identified timely and are aware of the progress of the monitoring assignment Raise observations as early as possible so that issues identified can be discussed with management to confirm the assessment and agree actions with stakeholders prior to completion of fieldwork and write concise, accurate Compliance Reports so that stakeholders understand the scope of the assignment and the testing conclusions reached. Review management action plans to confirm that the identified risks associated will be mitigated. Ensure compliance to the Bank policies, legislation and regulations through testing to identify areas of non-compliance. Implement Annual Compliance Monitoring Plan. This includes activities required to assess compliance with regulatory and internal requirements, as well as effectiveness of controls and standards that may have regulatory relevance, helping to ensure compliance with pertinent obligations and setting clear standards of appropriate business practices. Ensure high quality, timely and consistent delivery of all Monitoring deliverables (e.g. working papers, reports etc) through appropriate oversight and controls to stakeholders and compliance management. Ensure open issues are well tracked and closed accurately and in a timely manner, Escalate issues failing validation, turning overdue to Head of Function. Developing localized compliance and Financial Crime trainings as required Assist the M&T Head to provide formal training on all Compliance policies to business and provide full support to the unit and business in general Training trainers or volunteer trainers responsible for delivering training on all Compliance training initiatives. Maintain robust and update centre staff training records which show, staff name, staff number, branch/department training categories, role, joining date, training/accreditation/attestation date, assessment score, and when next training/ accreditation/attestation should be undertaken
Stakeholder Agreement 20%
Outputs To Deliver This Accountability
Liaise with stakeholders and peers on issues relating to regulatory risk assessments, intelligence/MI, reporting issues and regulator relations, as well as to work in close cooperation with other control functions such as Internal Audit, Operational Risk, Financial Crime etc. Seek opportunities within Monitoring, Compliance and business in order to enhance compliance processes, procedures and culture Develop innovative ways to improve the oversight provided by Monitoring to the business so that efficiencies and effective monitoring Keep up-to-date on regulatory-related issues across a range of topics by awareness of current regulatory changes, training sessions. Be aware of changes to the businesses and their plans to ensure appropriate mapping of Monitoring activities through discussions with management and other assurance providers so that monitoring activities can be planned. Own, build and manage relationships with key stakeholders (both internal and external) to ensure that they are made – and remain – aware of the value-added role of the Monitoring function and its activities Engage with stakeholders on progress of the monitoring activities so that they are aware of issues identified timely and are aware of the progress of the monitoring assignment. Provide guidance to stakeholders on remediation of control weaknesses by participating in discussions and using technical knowledge so that these can be remediated timely.
People Development 15% Develop a high performing team by informal coaching on specialist area.
Coach and mentor team members as well as stakeholders on a daily basis in order to improve their own productivity and use of the bank’s processes and systems. Engage proactively with other team members and Compliance colleagues and provide technical assistance where required so that knowledge sharing and best practice can be used to create efficiencies and perform effective monitoring Encourage frequent knowledge sharing between team members. Training of consultants in specialist roles. Resolve grievances raised by team members and escalate only if required. Motivate team members and ensure that their efforts are recognised.
Participate in the creation and implementation of Employee Opinion Survey (EOS) actions for the centralised monitoring team.
Technical skills / Competencies
Knowledge and skills
In depth knowledge of relevant regulatory legislation and the regulatory environment Analytical and investigative skills Commercial acumen Communication Skills Presentation Skills Training skills
Leading and supervising Adapting to change Writing and reporting Persuading and influencing Planning and organising Coping with pressure and setbacks.
Mental Demands, Judgment, Initiative
Most complex decision that can be taken without referral to the manager: Performing an assessment of controls and overall assessment of the control environment within a BU and the review of working papers and draft reports to confirm that the reports are written in line with the compliance methodology and that the quality of the reports is of a high standard. Most complex problem type that requires investigation/resolution without escalation: Leading discussions with management regarding issues raised to ensure business have an understanding of issues raised and implement the corrective actions.
Expertise and Experience, Education
Expertise and Experience
Essential / Minimum
Four (4) years-experience in risk based auditing or risk or control activities in a regulatory discipline Two (2) years Banking experience gained through auditing or in line management Management of a team for a period of at least four (4) years
Preferred / Advantage
Two (2) years international experience in regulatory, compliance or internal audit role in a large financial institution.
Proficient in MS Office (Word, Excel, PowerPoint and Outlook) and the Internet.
Essential / Minimum
Degree in a Commercial, Regulatory discipline or equivalent NQF level 6 qualification or higher – please be specific
Preferred / Advantage
CA (SA), CIA, CISA or international equivalents
EG-City Stars Building HQ, Al Qahirah , 1 Omar Ibn El Khat
20 Aug 2017