Position: Compliance Monitoring and Enforcement Manager
Department: Legal and Regulatory
Reports To: GM – Legal and Regulatory
Main Purpose:
To develop, co-ordinate and manage the implementation of Compliance Monitoring and Enforcement strategies, to ensure Regulatory compliance by ETL. To formulate and activate simulations and test cases and scenarios of all new and existing products periodically in line with the approved conditions to ensure compliance. Conduct inspections as may be necessary. To compile, analyze, summarize and provide timely regulatory reports as well as to ensure the Company’ compliance with applicable laws and industry standards.
Major Tasks:
- Ensuring compliance monitoring and enforcement function for ETL and develop compliance policies, processes and procedures in line with Licences and Products Conditions, applicable legislation, rules and business strategic objectives
- Oversees and reviews all Telecommunications strategic functions and divisions to ensure the highest standards of compliance in order to safeguard the business’s operating licenses
- Reviews strategic business policies, processes and procedures to ensure the minimisation and where possible elimination of compliance risks
- Champions and compiles business regulatory risks for Risk and Compliance Committee of ETL
- Advises GM Legal and Regulatory about non-compliance issues for escalation to the CEO’s Compliance Instruction issuance
- Establishes measures that ensure the business complies with all applicable laws, statutes and regulations, standards of international best practice, internal policies, processes and procedures in line with business strategic objectives
- Ensures that new products are in compliance with applicable regulations, laws and standards of international best practice
- Advises the Company on changes to business requirements and processes in order to achieve acceptable Regulatory risks levels
- Ensures that ETL updates Compliance Monitoring and Enforcement Policy every two years
- Ensures that the above Policy is approved by the CEO / the Board of Directors
- Ensures that the above Policy is understood and followed by all staff to minimise non – compliance.
- Compiles Compliance Report for consumption of the ETL Board Meeting
- Validates that Call Centre queries have been appropriately closed and follow up and advise the relevant parties
- Monitors compliance with prescribed service targets to prevent legal exposures resulting from non-compliance
- Prepares monthly Quality of Service and Quarterly Statistics Reports for submission to management and regulatory bodies
- Carries out regular follow ups on open queries to ensure compliance with the prescribed standards
- Advises on the measures to be implemented to address shortfalls in the reporting systems, processes and tools available to management
- Coordinates the collation of data for inclusion in the Quality of Service Reports and Quarterly Statistical Reports to the Regulator
- Receives and compiles complaint inputs from all divisions for the report
- Assists in establishes framework for Customer Due Diligence (CDD) processes in line with regulatory requirements and standards for international best practice
- Reviews and updates the CDD framework in line with changes in KYC regulations and global trends
- Monitors and researches on changes in KYC requirements and advises business of such changes and developments
- Ensures that the business has under safe custody and ease accessibility adequate documentation for customers and channel users
- Enforces and ensures documentation of internal compliance operational processes and procedures
- Identifies for improvement gaps and weaknesses in internal compliance, that impacts on attainment of strategic objectives.
- Ensures adequacy of processes and procedures on new products in line with applicable legislation and rules prior to implementation
- Liaises with Internal and External Auditors on their findings and the responsible persons for timely resolutions of the findings
- Formulates and activates simulations and test cases and scenarios of all new and existing products. Carry out unplanned inspections to ensure compliance
- Develops departmental goals and objectives in line with overall company strategic objectives
Educational Qualifications and Related Experience:
- LLB
- Postgraduate qualification in Compliance Management or Postgraduate qualification in Compliance and Risk Management
- 4 to 6 years legal and Regulatory Experience
Knowledge Areas & Competencies:
- Knowledge of related and applicable Lesotho Laws, rules and regulations
- Clear verbal and written communication and ability to prepare reports
- Ability to plan and organise in line with job requirements
- Ability to analyse and solve work related problems to achieve the correct outcomes
- Ability to interact, negotiate (where applicable) and achieve targets
- Ability to manage and develop staff
Interested applicants should submit their applications on or before Friday, 08th December 2023.
Candidates who have not been contacted by Friday, 15th December 2023 should consider their applications not successful.