Deloitte Consulting (Pty) Ltd: Senior Specialist Payment Services Risk & Compliance

Deloitte Consulting (Pty) Ltd

In Southern Africa, Deloitte & Touche is the member firm of Deloitte Touche Tohmatsu, and services are provided by Deloitte & Touche and its subsidiaries. Deloitte & Touche is among the region’s leading professional services firms, providing audit, tax, consulting, and financial advisory services through nearly 3600 partners/directors and staff in more than 16 offices in Southern Africa.

Duties & Responsibilities

We are aaaiating our client in Midrand to fill a role of Senior Specialist Payment Services Risk & Compliance

This is a 12 month contract role with high possibility of extension

Role purpose:

  • To assist the Executive Head of Risk and Compliance with the implementation and monitoring of  risk, compliance and regulatory controls within the financial services division

Key accountabilities and decision ownership :

Regulatory and Legislative Compliance Monitoring, Analysis and Reporting

  • Establishing a regulatory framework for the online payment and lending service opportunities within the business and sensitizing relevant internal stakeholders.
  • Ability to translate and embedding the national payments systems requirements into business processes.
  • Develop procedures to manage AML risk, effectively. Adopt a risk based approach to identification and verification processes.
  • Sanctions and PEP screening alerts.  This may require requesting additional information and escalations required for senior management sign off before a relationship is entered into.
  • Transaction monitoring and establishing high risk transactions, issue alerts/ flags for any suspicious transactions. Review and investigate flagged transactions.
  • Document existing controls within the business processes in order to assess their adequacy and effectiveness.
  • Collate and analyse information from various sources in order to assess the adequacy and effectiveness of the internal compliance controls. The information must be documented together with action items and control plans and communicated to relevant internal stakeholders.
  • Engage with the outsourced service providers to assess levels of risk and compliance. Recommend areas of improvement and identify action items to be put in place to rectify areas of non-compliance.

Stakeholder management

  • Analyse complaints (internal and external) for trends and report’s findings to relevant stakeholders
  • Liaise with External Regulatory Stakeholders ie. Various Ombuds, SARB PASA etc.
  • Engage with Internal (Project Support) and External (Regulator and/or Suppliers) business stakeholders.

Assist in the implementation of  the compliance training and awareness program

  •  Assist management to create a compliance culture and with embedding compliance principles, values and sound business practice into existing training mediums
  • Assist management to create new mediums of communication to enhance compliance awareness and knowledge within the company

Financial Services regulation analysis and documentation

  • Assists with the analysis and documentation of regulatory compliance requirements especially as it relates to digital payments services and credit lending opportunities.
  • Develop risk management plans for relevant legislation and maintain a regulatory universe for insurance.

Assessing the risk of changes to Regulatory Environment

  • Identify and track changes to existing and new laws
  • Impact analysis across business processes and systems

Must have technical / professional qualifications & Experience:

  • 3 year Degree or National Diploma essential in BCom, LLB, BA Law, or related and
  • A minimum of 5 years relevant experience in risk and compliance within the banking or payments industry.
  • Experience in dealing with Payments Association of South Africa (PASA) and or South African Reserve Bank (SARB).

Desired Experience & Qualification

Senior Specialist Payment Services Risk Compliance


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