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Legal and Compliance Manager

Job Description: 

Our client, a commercial bank with presence across SA seeks a Legal and Compliance Manager to join the organization


  • Set KPI's for compliance and conduct their performance appraisals
  • Provide guidance on new product & delivery channel development; and sign off prior to launch
  • Guide and advise the EXCO, Department Heads & BM’s on Compliance requirements
  • Ensure updating of Policy & Procedure Manuals by the CCGD due to regulatory changes
  • Stay abreast of regulatory change and developments through the CISA and Sentinel system
  • Serve as Project manager on the implementation of new compliance requirements
  • Attend the group’s annual compliance conference


  • Financial Intelligence Center reporting
  • Control and Manage all GoAML reporting to the FIC for the,
  • Daily Cash Threshold Reporting (CTR)
  • Daily International Funds Transfer reporting (IFTR) for EFT Cross Border transactions
  • Reporting of Suspicious Transaction Reports (STR)
  • Manage all projects relating to the above reporting to the FIC


  • FATCA and CRS reporting
  • Control and Manage all reporting to the SARS for FATCA and CRS
  • Manage all projects relating to FATCA and CRS requirements


  • Re-KYC of client accounts
  • Control and manage the re-kyc and Enhanced Due Diligence (EDD) process, including ensuring that
  • All High Risk accounts are completed annually,
  • Medium Risk accounts every 3 years, and
  • Low risk accounts every 5 years


  • Reports & Reporting
  • Compile an annual Compliance Activity Plan for approval by the BoD
  • Review the Legislative Risk Matrix on an annual basis and submit to the BoD
  • Complete reports as requested by the SARB
  • Table reports to the Audit Committee on the levels of compliance
  • Prepare and submit all required reports to HO on a quarterly basis
  • Prepare & circulate the CCC Agenda, Committee Pack and Minutes
  • Manage the Sentinel Regulatory Change Monitoring system and keep the Regulatory Change Tracker updated


  • Compliance Monitors & suspicious transactions
  • Clear the Blacklist Filter of blocked entries
  • Regularly review the Compliance Monitor’s functioning, quality of commentary and timeliness of clearing


  • Compliance Risk Managements Plans
  • Manage the process of documenting Internal Controls into the CRMP’s
  • Monitor the levels of Compliance by utilizing the Lex Manager system


  • Training
  • Compile an annual Compliance Training Plan
  • Provide guidance and formal training to compliance staff on new and existing Regulatory Compliance Requirements
  • Update training manuals to stay abreast of regulatory changes and policy requirements


  • Inspections
  • Conduct quarterly branch inspections and inspections of Centralised Departments and produce reports timeously
  • Conduct an annual FinSurv Inspection and issue a Letter of Comfort to the SARB’s FinSurv Department
  • Conduct an annual NCA inspection and issue a NCR Compliance Report


  • Legal
  • Deal with litigation against the Bank, instruct attorneys and consult with counsel
  • Draft/review MSLA’s, SLA’s & other contracts
  • Provide legal advice & draft legal opinions when required
  • Interpret legislation and translate into policy requirements


  • Relevant post graduate qualification with experience in similar environment at Management level


  • Minimum of 5-8 years experience in a banking institution of which 3 years at a Senior level


Durban, South Africa,


Varaya Business Consulting (Pty) Ltd


No education

Job Category: 


Working Experience: 

5 to 8 years

Contract Type: 

Full Time



Salary Frequency: 


Job Reference #: