Head, Compliance, The Standard Bank of South Africa Limited, Isle of Man Branch

About the Role

Standard Bank Offshore (SBO), the international arm of the Standard Bank Group, is seeking a dynamic and experienced Head of Compliance to oversee and implement robust compliance risk management processes within its Isle of Man branch. This pivotal position is responsible for ensuring that all operational activities adhere to the highest standards of regulatory compliance, thereby safeguarding the organisation against potential financial penalties, reputational damage, and operational losses. The successful candidate will play a crucial role in enabling the organisation's competitive advantage by fostering a culture of integrity and accountability. This role is exclusively open to individuals who possess residency and the legal right to work in the Isle of Man; relocation and sponsorship are not offered.

The Head of Compliance will be instrumental in the day-to-day execution of the Compliance Risk Management framework. A core responsibility involves thoroughly analysing the operational activities of the Standard Bank of South Africa (SBSA) Isle of Man Branch to identify and mitigate compliance risks. This includes ensuring strict adherence to the overarching compliance frameworks and standards established by the Standard Bank Group.

Building and nurturing strong, effective relationships with country regulators and key stakeholders across all areas of responsibility will be paramount. Furthermore, the role demands the development, tracking, and reporting of progress on compliance monitoring plans for the SBSA IOM Branch. This oversight is critical for identifying significant compliance breaches, potential exposures, and areas ripe for enhancement.

A key function will be to drive the customisation and ongoing maintenance of generic Risk Management Plans (RMPs). This ensures that these plans are precisely tailored to and remain appropriate within the specific regulatory context of the Isle of Man. Guiding the compliance team in adhering to the established data model is also a critical output, ensuring that data collection, capture, and management meet all required data standards and organisational policies.

What They're Looking For

To excel in this role, candidates will require a minimum of a first-degree qualification in Audit, Legal, or Risk Management. They should bring a substantial eight to ten years of relevant experience, including three to four years specifically in business enablement. A solid understanding of the banking environment is essential, encompassing a deep knowledge of associated products and activities pertinent to the specific business area this role oversees.

The ideal candidate will be a seasoned expert in compliance, possessing a profound knowledge of current regulatory requirements and anticipating upcoming developments applicable to the banking sector in the Isle of Man. A comprehensive grasp of banking products and activities is non-negotiable.

Crucially, the organisation seeks an influential leader with a proven track record in successfully leading a functional team of compliance resources. Strong behavioural competencies are expected, including the ability to articulate information clearly, challenge ideas constructively, convince stakeholders, develop effective strategies, and direct people towards common goals. Technical competencies should include a strong capability in evaluating internal controls, financial acumen, understanding of the financial industry regulatory framework, legal compliance, process governance, and a robust awareness of risk.

In South Africa, a senior compliance role of this nature often commands a competitive salary, reflecting the critical nature of the function and the required expertise. Common employers for such positions include major banking institutions, financial services firms, and regulatory bodies. Career progression typically involves moving into broader risk management roles, regional compliance leadership, or specialised areas within financial crime prevention.

Minimum Qualification: 

• First Degree in Audit
• First Degree in Legal
• First Degree in Risk Management

Experience Required :

• 3 - 4 years experience in Business Enablement
• Experience and a solid understanding of the relevant banking environment including the associated products and activities specific to area in which this role is responsible.
• 8-10 years experience
• The role requires a seasoned expert in Compliance with a sound knowledge of the relevant regulatory requirements and upcoming developments applicable to a specific business area as well as a solid understanding of banking products and activities. To drive an effectively compliant function, an influential leader is required with a proven track record in leading a Functional team of Compliance resources.

Key Outputs :

• Analyse the operational activities within the SBSA IOM Branch to identify compliance risks and therefore ensure adherence to the relevant Standard Bank Group compliance frameworks and standards.
• Build and maintain effective relationships with the country regulators and stakeholders on all areas of responsibility.
• Develop, track and report on the progress of the compliance monitoring plans for the SBSA IOM Branch in order to identify significant compliance breaches, exposures and potential areas of improvement.
• Drive customisation and maintain generic risk management plans (RMPs) to ensure it is appropriate within the regulatory context of the specific country.
• Guide the adherence to the data model across the compliance team to ensure the collection, capturing and management of data adheres to the required data standards and policies.