Compliance Manager
Purpose of the job
The Compliance Manager is responsible for managing and overseeing the compliance framework for both the business and the products administered by Intembeko aligned to Intembeko’ regulatory universe.
This includes oversight across a diverse range of administered products including collective investment schemes (Manco/unit trusts), hedge funds, retirement funds, tax-free savings products, living annuities, endowments and other linked investment products within a third-party administration (TPA) environment.
The role requires both oversight and hands-on involvement in operational compliance activities and is responsible for embedding compliance into the day-to-day operations, strengthening control effectiveness and proactively managing regulatory risk. This includes direct involvement in complex, high-risk or judgement-based matters, while overseeing the consistent execution of compliance activities across the team.
The role encompasses end-to-end responsibility for operational compliance, including AML/CFT and KYC requirements, tax transparency obligations (including FATCA and AEOI/CRS), and ongoing regulatory monitoring across collective investment schemes, hedge funds, retirement funds and life products.
The role also includes ownership and oversight of client, product and counterparty due diligence frameworks, including onboarding governance, risk classification methodologies and ongoing due diligence monitoring across all administered structures.
The Compliance Manager also holds direct people management responsibility for the Compliance team, ensuring effective monitoring, reporting, regulatory adherence, and capability development within the function.
Main duties and responsibilities
Regulatory Compliance Management
Maintain the compliance framework, ensuring it remains effective, practical and aligned to regulatory requirements.
Interpret regulatory developments and ensure appropriate and timely operational implementation.
Ensure adherence, but not limited, to the FAIS Act and FSCA Conduct Standards, FICA and AML/CFT legislation, CISCA, Pension Funds Act, Long-Term Insurance Act, Income Tax Act (as applicable) and POPIA and data protection requirements.
Lead or coordinate regulatory engagements with the FSCA and other regulatory bodies, including inspections, information requests and external compliance reviews.
Support regulatory reporting and submissions.
AML, KYC and Tax Transparency
Manage the AML/CFT framework across all clients and administered products.
Ensure effective execution of onboarding, due diligence and ongoing monitoring processes for clients, investors, members, beneficiaries and advisors.
Ensure effective implementation of CDD, EDD, transactional and ongoing due diligence processes. Provide direct involvement in high-risk and complex cases.
Oversee formalised due diligence frameworks including investor risk rating, product risk classification and enhanced due diligence for high-risk clients, structures and jurisdictions.
Ensure effective sanctions screening, transaction monitoring and suspicious activity reporting processes.
Ensure effective implementation and oversight of FATCA and AEOI/CRS requirements.
Operational Compliance Monitoring
Embed compliance controls into the daily third-party administration (“TPA”) operations, including investor servicing and fund administration.
Ensure compliance oversight across outsourced and delegated administration functions, including monitoring of service providers, mandates and service level agreements.
Review high-risk or complex transactions and provide guidance and decision-making support to operational teams.
Participate in monitoring activities for high-risk or complex areas where required.
Ensure compliance controls are embedded within key operational processes.
Ensure that outsourcing and third-party arrangements meet regulatory and governance requirements.
Governance & Reporting
Prepare compliance reports for senior management and governance forums.
Maintain regulatory risk registers and breach logs.
Investigate compliance incidents and ensure appropriate and timely remediation and escalation.
Contribute to the overall governance and risk management framework of the business.
Provide input into product governance frameworks including oversight of new product onboarding, regulatory approval considerations and ongoing product compliance reviews.
Project and Change Involvement
Provide compliance oversight and input into key business and client projects.
Ensure regulatory requirements are appropriately incorporated into project design and delivery.
Provide involvement in resolving regulatory bottlenecks and complex issues.
People Management & Leadership
Lead and manage the Compliance team.
Provide guidance, support and development to team.
Step into operational activities where required to ensure delivery, continuity and quality.
Promote a strong compliance culture and regulatory awareness across the business.
Deliver training and practical guidance to the business and the operational and client-facing teams.
Ideal experience
6–10 years compliance and AML experience within financial services.
Experience in one or more of the following environments:
TPA/LISP platforms
Collective investment schemes / asset management
Retirement fund administration
Life and annuity products.
Experience managing or supervising a compliance team.
Practical exposure to FATCA and AEOI/CRS implementation and reporting advantageous.
Ideal qualifications
Relevant tertiary qualification (Law, Commerce, Risk or equivalent).
FSCA-approved Compliance Officer (category III).
AML/FICA or compliance-related certifications.
Competencies and ideal attributes
High integrity and sound ethical judgment.
Strong risk-based decision-making capability.
Effective people management and coaching skills.
Ability to interpret legislation and translate into operational processes.
Strong communication and stakeholder engagement capability.
Highly organised with strong attention to detail and follow-through.
Ability to operate effectively in a regulated and fast-paced environment.
Technical knowledge
Strong working knowledge of FAIS Act and FSCA Conduct Standards, FICA and AML/CFT frameworks, CISCA and collective investment scheme regulations, Pension Funds Act and retirement product regulations, Long-Term Insurance Act, FATCA and AEOI/CRS obligations.
Understanding of TPA operating models and outsourced administration environments.
Knowledge of compliance monitoring methodologies and risk-based approaches.
** Intembeko Investment Administrators is a South African company committed to meaningful transformation. We would like to help redress the imbalances of the past and appoint suitably qualified candidates from designated groups into meaningful roles.
**Interested in the role? Send the following details (updated CV, a certified copy of your ID and transcripts) to HumanResources@intembeko.com or call 021 541 0222 for a confidential conversation
