Discoverys core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.
About Discovery Bank
Discovery Bank is a bank like no other a shared-value bank, designed with our clients in mind. Were all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If youre adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment thats safe and nurturing.
Job Purpose
The Monitoring Analyst proactively identifies, assesses, reports and mitigates compliance risks across Discovery Bank. The incumbent enforces and upholds Banks compliance standards. The Monitoring Analyst also participates in activities that drives a strong culture of compliance and internal control.
Areas of responsibility may include but are not limited to
- Manage compliance monitoring including personal account dealing, gifts and entertainment, conflicts of interest and political donations.
- Conduct impact assessments on key retail banking legislative and banking regulatory requirements as they relate to core retail banking processes and products.
- Review and strengthen control environment within the Retail Bank to ensure compliance with regulatory standards and minimise regulatory risk exposure.
- Report, track and monitor regulatory related risk incidents, issues and control gaps to full closure.
- Execute the Regulatory Compliance monitoring plan, within scope and timelines by reviewing control design adequacy and implementation effectiveness, bringing potential issues to the attention of the Senior Manager: Regulatory Compliance Monitoring.
- Produce reports for senior management on compliance monitoring findings, including sound and practical recommendations.
- Report writing and consolidation in respect of key internal to Bank committees, from a Regulatory Compliance perspective.
- Support the development of key compliance policies and standard operating procedures.
- Identify training and educational needs regarding compliance practices, make recommendations and develop training content.
- Support the implementation of the Compliance Risk Management Framework, and implementation of the Compliance Risk Management Plans and control gap analysis.
- Has an ability to advise on the establishment of effective Compliance frameworks, structures and core processes and the establishment and embedment of the same in relation to the core systems, platforms, processes, products of the proposed Banking business.
- Support the Senior Manager: Regulatory Compliance Monitoring, with Regulator and Audit reviews and oversee compliance actions.
- Bachelors degree that includes legal, compliance and governance.
- Must have 3 -5 experience in retail banking as a compliance monitoring analyst,
- Must have strong understanding of retail banking applicable legislation,
- 3 5 years experience in process, risk and control assessment and monitoring.
- Compliance concepts
- Highly organized and methodical with close attention to detail
- Regulatory risk in the financial sector would be advantageous.
