Monitoring Analyst

Job Purpose

• The Monitoring Analyst proactively identifies, assesses, reports and mitigates compliance risks across Discovery Bank. The incumbent enforces and upholds Bank's 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.

Education and Experience

• Bachelor's 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.

Technical Skills

• Compliance concepts
• Highly organized and methodical with close attention to detail
• Regulatory risk in the financial sector would be advantageous.