Risk and Compliance Officer (EE), Germiston – Ref: 634872-47

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Ref: 634872-47

Job Description:

Having been in operation for almost a century our client has grown from a local refiner to a globally recognised precious metals leader. They received global accreditation and international referee status.

They enjoy exceptional long-term loyalty from their people – their family; all with outstanding talent and immense experience. They are currently sourcing a Risk and Compliance Officer. Preference will be given to candidates who have completed a relevant compliance diploma/ degree. Membership of a professional institute (e.g., compliance institute of SA, Institute of Risk Management of SA) will be an advantage.

Position details:
Type: Permanent
Reports to: Head: Sourcing and Business Development
Primary purpose:

  • Ensure that the company can meet its current and future obligations in terms of its contract with Prestige Bullion as regards the on-boarding, and continuous monitoring of Krugerrand dealers.
  • Ensure that the provisions of the Prevention of Organised Crime Act, 121 of 1998, the Financial Intelligence Centre Act, 38 of 2001, and the South African Reserve Bank Act, 90 of 1989, are complied with and that the requirements set by the company and Prestige are also met for Krugerrand Dealers.
  • Ensure that all information handled and stored meets the requirements of the Protection of Personal Information Act 4 of 2013.
  • On-board potential dealers and guide them through the application process, and receive, store, and process the relevant documents, and check and compile information for approval by the relevant stakeholders and Committee’s.
  • Set-up and manage dealer accounts and associated master data on the ERP system.
  • Populate contract templates and distribute, receive, and store finalised contracts.
  • Ensure that dealers comply with the contractual requirements around reporting and compile such data for the relevant stakeholders and Committee’s.
  • Implement, execute, and run the Know Your Customer (KYC), and Continuous Monitoring program as regards Krugerrand Dealers.
  • Maintain policies, processes, tools databases / files, and conduct the necessary KYC continuous monitoring checks of Krugerrand dealers.
  • Continuous improvement – the Compliance Officer is expected to keep abreast of the latest requirements (e.g., FIC notices, SARB public notices, updates of acts, prestige requirements) as regards Krugerrand due diligence as well as implementation of best practice (e.g., KYC checking tools, document management systems, methodologies, models, and checklists).
  • Handling Krugerrand Dealer queries regarding the application process and referring other queries and complaints to the relevant stakeholders.
  • The position reports directly to the Head: Sourcing and Business Development.

Major responsibilities:

Customer relationship/maintaining of current relationships with dealers

  • Managing Krugerrand enquiries and providing appropriate information.
  • Inform KR dealers on the legalities of dealing in KR’s.
  • Interact directly with potential KR dealers regarding on-boarding.
  • Ensure that any feedback given to dealers is accurate and sensitive information is dealt with confidentiality.
  • Co-ordinate dealer information updates (master data etc.)
  • Maintaining of the dealer’s data and provide updates on on-boarding.

Know your customer

  • Ensure that all required document as stipulated in policy are obtained.
  • Ensure that due diligence is done.
  • Input into processes regarding on-boarding (best practice).
  • Ensure that proper FICA process followed whilst on-boarding new dealers. (FIC documentation, vat registration, business registration)
  • Ensure that interview risk reviews are completed.
  • Ensure that risk assessment form is completed, together with the on-boarding pack and dealer summary.
  • Ensure the interview panel and the CRC Committee has enough information to make an on-boarding decision.
  • Recommendation on the suitability of on boarding a dealer based on the KYC checks.

On-boarding of new customers

  • Follow the agreed KYC/AML process and motivate for improvements as needed.
  • Once CRC approval is obtained, finalise on-boarding dealer and communicate with dealer appropriately.
  • Advise all internal stakeholders of new dealer that has been on-boarded.

Contract / file management and reporting

  • Effectively maintain the current contracts database and associated files.
  • Compile and summarise dealer quarterly report information.
  • Report any breach of contract conditions by a dealer to the Senior Manager: Sourcing and MD Prestige.
  • Ensure that dealer’s that have not fulfilled the contract requirements, as endorsed by the CRC, are suspended from the system.

Customers administration

  • Ensure that all correspondence is on approved company documentation before signoff and communication to dealers.
  • Ensure that the standard application to trade forms are maintained / updated.
  • Ensure that all correspondence as required by management is processed.

Location (country, city): Germiston, Gauteng

Job Qualification & Experience:

Minimum qualification:

  • Preference will be given to candidates who have completed a relevant compliance diploma/ degree,
  • Membership of a professional institute (e.g., compliance institute of SA, Institute of Risk Management of SA) will be an advantage.

Skills and attributes:

  • Computer knowledge (Advanced MS office –Outlook, Word, Excel & PowerPoint)
  • Good communicating skills (verbal and written)
  • Compliance Skills
  • Administrative Skills
  • Ability to work under pressure and prioritise
  • Problem Solving Skills
  • Training skills: Able to train subordinates, or interns on the Krugerrand onboarding process.
  • Administrative skills: Able to develop an effective live database of dealer information and general office duties, correspondence, contracts.
  • Problem solving skills: Able to identify and rectify problems quickly
  • Assertive: To be firm with dealers on document requirements as per our policy.

Knowledge and experience:

  • Preference will be given to candidates that have 2 to 3 years related experience in the KYC (Know your customer) / AML (Anti money Laundering) environment.
  • Knowledge of tools such as Worldcheck, CIPC, TransUnion, Dunn & Bradstreet is essential.
  • Financial acumen: Able to understand finance calculations (income, margins, volumes etc.)
  • Researching: conducting due diligence using electronic and media tools and obtaining primary and secondary evidence.
  • Risk assessments: interpret research using policies and procedures to determine suitable risk rating.
  • Customer relationship management: deal with dealers regarding on boarding and due diligence (request for information, feedback).
  • Intuition: Able to intuitively discern the value of prospective dealers and their eligibility to be on-boarded.
  • Honesty and Integrity: To always behave in a moral manner
  • Analytical mind: Clear logical thinking
  • Achieve business goals: To work consistently to achieve results, continuous improvement.

Company Description:

Having been in operation for almost a century our client has grown from a local refiner to a globally recognised precious metals leader. They received global accreditation and international referee status.

They enjoy exceptional long-term loyalty from their people – their family; all with outstanding talent and immense experience.

This advert is being advertised in collaboration with our recruitment partner MCHIR.

Risk and Compliance Officer (EE), Germiston – Ref: 634872-47

Risk and Compliance Officer

Risk and Compliance Officer

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