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Job Summary

Plan, execute and manage monitoring assignments in accordance with the Absa Compliance Monitoring plan and relevant policies, procedures and quality standards. The Role holder is responsible for the quality of monitoring activities to ensure adherence to external and internal regulations and policies.

The monitoring of the compliance processes and methodology in all the businesses to ensure regulatory compliance throughout the business unit, as well as the implementation, alignment and embedding of the compliance training requirements in the business. Ensuring that the compliance function delivers the compliance deliverables required and as per the mandate.
Job Description

Main accountabilities

People Management

Perform people management functions, including but not limited to:
workforce and recruitment demand planning
recruitment
talent management and succession planning
mentoring and coaching
performance development
reward and recognition management
training and development
Contribute fully to the team effort
Facilitate coaching / training of team members in areas of specialist knowledge, or allocated areas of common interest
Share knowledge, information, ideas and assist in the training of less experienced colleagues.
Management of Monitoring reviews

Drive the application of the Absa Group compliance methodology for the monitoring and reporting of compliance risks and issues.
Maintain Monitoring planning universe and update this on a quarterly basis to ensure that high risk areas are monitored.
Formulate/compile an annual compliance monitoring plan in conjunction with management taking into consideration other assurance provider plans, available resources (staff and budget) versus the needs and expectations of executive and senior management and submit to the Director of Legal and Compliance for review.
Monitoring follow-up action undertaken by management to remedy compliance findings, advising business to ensure that action taken is sufficient, timely and that controls introduced are operating as intended to mitigate the risk.
Ensuring that staff are trained on a continuous basis in order to ensure that they have adequate technical knowledge in order to understand the Compliance risk management framework that applies to the bank, as well as the Compliance risks to which the bank is exposed.
Plan, coordinate and finalise monitoring reviews in line with the Absa Compliance Manual and Monitoring/Assurance Standards.
To enable the distribution of the Planning Memorandum on completion of the planning phase;
To conduct Opening Meetings either physically or by means of Teleconferences to communicate the purpose, objectives and approach to line management on the first day of each review;
Ensure high quality, timely and consistent delivery of all Monitoring deliverables
Develop innovative ways to improve the oversight provided
Implement the Annual Compliance Monitoring and Testing Plan
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 monitoring team in line with methodology requirements to ensure working papers are of a high quality.
Review the DEA and OET working papers of controls tested to confirm that the correct control assessments have been raised.
Provide effective feedback to the team on an ongoing 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 findings 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 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 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
Liaise with stakeholders and peers on issues relating to regulatory risk assessments, intelligence/MI, reporting issues and regulator relations
Ensure that Code of Good Practice targets are met for the team
Socialise and champion the Annual Monitoring Plan with a variety of senior stakeholders as well as communicate the results of Monitoring reviews
Keep up to date on regulatory-related issues across a range of topics by awareness of current regulatory changes, training sessions
Own, build and manage relationships with key stakeholders
Ensure compliance to the Compliance Owned policies, legislation and regulations through testing to identify areas of non-compliance.
Provide an assurance to Director of Compliance and Legal and the ABT management on proper identification and closure of root causes of issues emanated from BOT/regulatory examination, Audits and Conformances
Role / Person Specification

Knowledge & Skills: (Minimum of 6)

Understands monitoring, including what makes an effective monitoring framework, core methodology to apply and key attributes of an effective monitoring team,
Understands and is able to assess risks and controls, including what makes an effective risk framework and the role of Compliance within that framework,
Is able to assess risks and controls,
Broadly understands the legislative and regulatory landscape and requirements imposed by the Tanzania regulators, including the Central Bank of Tanzania, Capital Markets and Securities Authority (CMSA), Financial Intelligence Unit (FIU)
Is able to engage and work constructively with other teams,
Manages, motivates and drives performance of others.
High profile nature of the role – frequent interaction with the most senior management in the business
Being able to impartially deal with all levels of staff
Capability to initiate, work and successfully complete (E2E) an engagement as an individual under minimum or no supervision
Ability to work flexitime in order to meet pressing timelines.
Other Skills required to undertake the role

Problem Solving / Decision Making
Quality, High Standards and Controls
Communication / Influence
Planning & Organising
Integrity and professionalism
Leadership capability
Analytical, Testing & Monitoring
Innovation & Change
Relationship / Partnership Approach
Financial management
Risk management
Commercial awareness
Business consulting acumen and management
Competencies: (Minimum of 8 competencies)

Deciding and initiating action
Persuading and influencing
Leading and supervising
Creating and innovating
Relating and networking
Formulating strategies and concepts
Applying expertise and technology
Entrepreneurial and commercial thinking
Experience and Qualification

Essential Qualifications

Educated to degree level (benchmark is bachelor’s degree) or have equivalent business experience. Degree to be in Audit/Risk Management/ Accounting / Financial Services or any other relevant discipline.
Minimum 5 years proven people management experience/leading teams.
Minimum of 5 years’ experience in financial management, Strategic
Planning, Governance processes and reporting
Proven ability to interpret strategy and execute effectively
Proven experience in managing and delivering on a complex business project Portfolio
Preferred

Formal qualification or studying for, such as CPA, ACCA, CIA, CISA, CCSA and or business or risk related degree / qualification.
Absa Values

Absa’s Values and Behaviors represent the set of standards which governs the actions of all of us who work for the bank and against which the performance of every one of us in Absa are being assessed and rewarded:

Trust
Resourceful
Stewardship
Inclusive
Courage
Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)