Specialist: Compliance

The role of the Comliance Specialist is to support the Head of Compliance in the execution and maintenance of the Compliance Management System (CMS) to ensure a seamless culuture of compliance whilest enabling BMW Financial Services to execute and deliver on its strategic objectives. 

Anti-Money Laundering (AML)

• Achieve and maintain a ‘green’ rating for the AML element of the SF Compliance Min. Standards.
• Develop and maintain the Risk Management Compliance Program (RMCP) in accordance with the Financial Centre Intelligence Act and BMW Regulations including but not limited to identification of customer categories and affected systems, Business Risk Assessment (BRA), Initial Customer Due Diligence (ICDD) – Customer Risk Rating Scorecard, ICDD data fields, ICDD measures (Simplified Due Diligence, General Due Diligence, Enhanced Due Diligence), On-Going Customer Due Diligence (OCDD) measures, Transaction Monitoring, Employee Screening (Current and Prospective), Monitoring and Control Activities.
• Develop and maintain an AML system for digital and automated processing of customers in accordance with the RMCP.
• Perform a review and clearing of potential matches in the AML system identified during the ICDD and OCDD.
• Maintain and update the goAML portal for BMW Financial Services.
• Submit Suspicious Transaction Reports (STRs), Suspicious Activity Reports (SARs), Terrorist Property Reports (TPRs) and Cash Threshold Reports (CTRs) to the Financial Intelligence Centre (FIC) using the goAML portal.
• Set-up and perform training and awareness sessions.

Financial Sanctions

• Achieve and maintain a ‘green’ rating for the Financial Sanctions element of the SF Compliance Min. Standards.
• Ensure financial sanction screening is performed on all customers, suppliers, business partners, sponsorship and donation beneficiaries and incentive program participants.

Data Privacy

• Acheive and maintain a ‘green’ rating for the Data Privacy element of the SF Compliance Min. Standards.
• Implement and maintain the Data Privacy program in accordance with the Protection of Personal Information Act and BMW Regulations including but not limited to:

Corporate Governance

• Achieve and maintain a ‘green’ rating for the Framework, Roles and Responsibilities, Decision Making and Corporate Rules Management elements of the SF Compliance Min. Standards.
• Develop, implement and maintain the Corporate Rules Management framework including but not limited to:

Compliance Monitoring

• Perform internal audits (review processes, prepare test procedures, test operating effectiveness of controls, prepare audit reports) on all compliance topics in your area of responsibility.

Internal Control System (ICS)

• Ensure the Control Review, Process Review and Control Testing for ICS controls for compliance topics in your area of responsibility are completed timeously in the e-GRC tool.
• Update Control Descriptions, Control Activities, define test procedures and standardize sample selection based on frequency of activity i.e. Multiple Times Daily, Daily, Weekly, Monthly, Annually for ICS controls for compliance topics in your area of responsibility in e-GRC tool.

Reporting

• Prepare content for compliance topics in your area of responsibility for compliance presentations for reporting to the following forums:

Audit Remediation

• Co-ordinate and execute audit requests and information submissions to Corporate Audit.
• Co-ordinate and support audit remediation and tracking with relevant business units until closure.
• Timeous closure of audit remediation in compliance areas of responsibility.

Qualifications

• Bachelor of Commerce Honors (Internal Audit)
• Certified Internal Auditor (CIA)

Experience

• Completed Internal Audit training at a big 4 audit firm (KPMG, PwC, EY, Deloitte).
• Solid track record (10 years+) operating as a Compliance Specialist with responsibility as AML Officer, Data Protection Officer and Internal Auditor in the automotive finance industry.
• In depth knowledge and understanding of relevant legislation such as the Financial Intelligence Centre Act, Protection of Personal Information Act, Promotion of Access to Information Act etc.
• In depth understanding and experience in the development and execution of AML, Data Privacy, Corporate Policy Management and Internal Audit programs.
• Ability to work independently and in a high-pressure environment.
• Mature personality to manage conflict situations and independently engage executive management.

Advantageous

• Completed RE5 and RE1 exam qualificaitons