Job Description

5 Year fixed term contract

Purpose of the Role:
To build and implement processes to respond to the supervisory and regulatory elements of the organization's mandate. This entails ensuring that functions such as scheme recognition, designation, rule-making, supervision and enforcement are developed and implemented in line with the organisation's operating principles. It also entails developing and implementing stakeholder engagement and consumer awareness initiatives.

Requirements:

• Undergraduate degree including relevant subject areas being law, financial sector regulation, compliance, risk management, and / or economics.
• A postgraduate qualification in relevant subject areas, with relevance to the financial sector would be advantageous.
• Minimum 10 years' demonstrated experience of working in or closely engaging with the financial sector supervisory, regulatory or policy environments.
• Minimum 10 years' demonstrated experience in developing, analysing, implementing, enforcing and / or supervising compliance with financial sector laws.
• Experience in or demonstrated exposure to alternative dispute resolution environment will be an advantage.
• Experience in consumer education or consumer protection initiatives will be an advantage

Key Performance Areas:

• Manage recognition applications and scheme governing rule approvals from current and new schemes in accordance with statutory obligations and timelines in FSR Act
• Deal with jurisdictional matters and manage overlaps between schemes, including appropriate consultation with schemes to identify jurisdictional gaps and overlaps and using designation powers under the FSR Act to address these.
• Facilitate collaboration between schemes regarding complaints about financial institutions as contemplated in the FSR Act.
• Develop and implement a regulatory plan for the identification, development, consultation on and finalisation of appropriate Rules, with a focus on increased alignment of scheme processes and develop such Rules in accordance with the processes and timelines in the FSR Act.
• Develop and implement a supervision plan to monitor the performance and compliance of schemes, including through carrying out on-site inspections of schemes and gathering information from schemes, in accordance with the FSR Act.
• Manage scheme reporting processes in accordance with the FSR Act, including ensuring that the structure and content of scheme reporting requirements are appropriately aligned.
• Manage and respond appropriately to complaints about the conduct of schemes, including initiating enforcement action where appropriate.
• Identify opportunities for support of awareness and consumer education initiatives of schemes, and other stakeholders and provide such support.
• Coordinate and implement consumer education and awareness initiatives in collaboration with schemes, the organization or other applicable stakeholders.
• Coordinate enforcement actions where required to address contraventions by schemes,, in accordance with applicable FSR Act provisions.
• Work closely with the CEO, the National Treasury and other affected stakeholders in terms of policy reform to remain abreast of evolving regulatory frameworks, particularly to identify implications for the regulatory and supervisory functions of the organization and ensure that its interests are addressed.
• Participate in discussions and support the Chief to co-ordinate engagements with the National Treasury, schemes and other key stakeholders on the impact of and implementation of legislative and regulatory reforms, including the World Bank Diagnostic recommendations.
• Ensure that regulatory and supervisory plans and processes take appropriate account of evolving regulatory reforms.
• Develop and implement a stakeholder engagement plan, together with the Head: Operations
• Ensure appropriate communication and ongoing engagement with all statutory and industry schemes.
• Work closely with applicable regulatory authorities and schemes in developing appropriate processes for providing analysis on complaint related trends in the industry as well as feedback on conduct of financial institutions.
• Manage the interface with other applicable regulatory authorities, especially on the core supervisory and regulatory functions, where there are interdependencies.
• Support the Chief with the management of the media on any issues pertaining to the promotion of or reputational risk to the Council.
• Work closely and collaboratively with the Head of Operations to support the Council's achievement of and reporting on its performance commitments.
• Support the Chief in ensuring appropriate communication with and reporting to the Board on matters within the scope of the role.

Other Key Competencies:
The candidate must have a demonstrated record of creative thinking and innovative approaches on financial sector regulatory or business conduct issues, policies, programmes and projects. Demonstrated experience working at a senior management or senior expert level.

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