Compliance Manager (Money Market Account)

Join Shoprite as a Compliance Manager specialising in Money Market Accounts, located in Cape Town, Brackenfell, Western Cape. This full-time, senior-level role demands expertise in regulatory compliance, risk management, and financial controls within the banking and finance sector. The ideal candidate will possess in-depth knowledge of South African financial regulations, including FICA, FAIS, and relevant legislation, alongside proficiency in Money Market instruments and accounts management. You will lead compliance monitoring, ensure adherence to statutory requirements, conduct risk assessments, and implement robust controls to safeguard the organisation's financial activities. Your strategic oversight will drive regulatory alignment and mitigate compliance risks, supporting Shoprite's commitment to operational integrity and financial excellence. Become part of a dynamic team at Africa's largest food retailer, renowned for its innovation, employee development, and market leadership. This role offers the opportunity to influence compliance frameworks in a fast-paced environment, supported by comprehensive training, competitive remuneration, and career progression prospects within a reputable organisation committed to compliance excellence and sustainable growth.

Key Duties

• Develop, maintain, and enhance the compliance framework and related policies for the Money Market Accounts and Transfers portfolio, ensuring alignment with regulatory, contractual, and business requirements.
• Lead compliance monitoring activities, including risk assessments, thematic reviews, control testing, and regulatory reporting to identify and mitigate compliance risks effectively.
• Provide expert advice and guidance on applicable financial regulations such as FICA, FAIS, AML/CFT obligations, and ensure operational adherence within the portfolio's customer journeys and transaction processes.
• Oversee regulatory engagement and governance, coordinate regulatory submissions, inspections, audits, and maintain evidence of compliance with statutory and partner obligations.
• Manage and develop a high-performing compliance team, fostering a strong compliance culture through leadership, training programmes, and continuous professional development.
• Maintain oversight of data governance and regulatory record-keeping to comply with POPIA and internal data management standards, supporting accurate compliance analytics and reporting.
• Monitor emerging regulatory changes and financial crime risks, adapting compliance strategies and controls proactively to safeguard the organisation's financial integrity.
• Coordinate and manage remediation processes for identified compliance breaches or control deficiencies, ensuring timely resolution and reporting to senior management and regulatory bodies.
• Engage collaboratively with sponsor banks, regulatory authorities, and internal stakeholders to ensure robust compliance across partner-bank arrangements and operational models.
• Produce clear, comprehensive compliance reports and dashboards for governance forums, providing actionable insights and recommendations to support informed decision-making.

Qualifications

• Bachelor's degree in Law, Commerce, Risk Management, Auditing, Compliance Management, or a related discipline.
• At least 7 years of compliance experience, with a minimum of 3 years in a regulated financial services environment.
• In-depth knowledge of South African financial regulations including FICA, FAIS, AML/CFT legislation, and relevant regulatory frameworks.
• Proven expertise in compliance monitoring, risk assessment, control testing, regulatory reporting, and remediation management.
• Experience managing compliance teams or specialist resources, demonstrating leadership and development capabilities.
• Practical experience in financial services, particularly within banking, payments, remittances, or related regulated environments, with at least 4 years specific to Money Market Accounts and Transfers compliance.
• Strong understanding of regulatory engagement, governance frameworks, and the ability to coordinate regulatory submissions, audits, and inspections effectively.
• Familiarity with data governance principles and regulatory record-keeping, including POPIA compliance and data quality management.
• Excellent communication and stakeholder management skills, able to provide expert advice and collaborate with regulators, sponsor banks, and internal teams.
• Preferred: Postgraduate qualification in Compliance, Risk Management or related fields, and professional certifications such as CPrac (SA) or ICA Compliance qualifications.