Fikelephi Cynthia Bham
Compliance Executive
Umhlanga,Durban
Summary
Head of Compliance with over 22 years’ experience in the financial sector, including more than 10 years in investment management compliance. FSCA-approved Compliance Officer (FAIS Categories I & II), licensed AML/FICA Officer, with extensive knowledge of Collective Investment Schemes, Pension Funds (Regulation 28), Hedge Funds, Medical Aid Schemes, and mandate compliance. Proven track record of developing and implementing compliance strategies, leading regulatory engagement, and providing assurance to Boards, EXCO, and regulators. Experienced in managing teams, embedding compliance frameworks, and ensuring compliance with key legislation including the Companies Act, FAIS Act, FICA, POPIA, Labour Laws, CISCA, PFMA, Financial Markets Act, JSE Listings Requirements, and King IV, etc. Prepared to deliver strategic compliance leadership that strengthens governance, mitigates risk, and ensures full regulatory alignment.
Overview
23
23
years of professional experience
Work History
Chief Consultant
Fix Legal and Compliance Services
Johannesburg
07.2018 - Current
- Delivered comprehensive Legal, Governance, Risk Management, and Compliance (GRC) services for various organizations:
- Sanlam Capital Markets:
- Spearheaded compliance function maturity assessments;
- Redesigned and structured the compliance function;
- Trained, coached, mentored, and developed compliance officers; and
- Provided a full suite of compliance risk management services, including ensuring compliance with CISCA, FICA, and mandate compliance across collective investment schemes.
- Sanlam Sky Solutions:
- Reviewed and amended all agreements related to the distribution chain, including binder agreements, outsourcing agreements, franchise agreements, confidentiality agreements, and surety agreements.
- AVBOB Mutual Society:
- Conducted compliance gap analyses and monitored governance and operational standards for insurers, including financial soundness standards, FAIS Act, and FICA.
- Reviewed and advised on governance structures and their terms of reference.
- Sanlam Investment Group:
- Executed an extensive AML programme review.
- Sanlam Finance:
- Implemented the FICA programme.
- Scor Reinsurance Company:
- Directed the POPIA implementation project.
- Merchants SA, a Dimension Data Company:
- Provided full end-to-end Governance, Risk Management, and Compliance services.
- Workerslife Insurance Group:
- Delivered comprehensive compliance services.
- Collaborated with cross-functional teams to ensure seamless integration of proposed solutions into client operations.
- Negotiated contracts on behalf of clients, securing favorable terms that aligned with their business objectives.
- Optimized resource allocation for projects by accurately forecasting needs and monitoring progress against targets.
Head of Compliance: Reporting and Oversight
Nedbank
07.2017 - 06.2018
- Directed compliance risk management reporting across all divisions to ensure regulatory transparency, including reporting on compliance with CISCA, FICA, and mandate compliance across collective investment schemes.
- Engineered and standardized reporting templates to enhance accuracy and efficiency in risk assessments.
- Chaired the Compliance Quality Circle Committee, overseeing assurance activities and compliance performance.
- Provided strategic insights on combined assurance implementation to align risk management with corporate objectives.
- Supervised and developed a team of compliance professionals, fostering operational excellence.
- Ensured compliance policies and procedures were updated to reflect the latest regulatory requirements, including those related to CISCA, FICA, and mandate compliance across collective investment schemes.
- Advised internal teams on the interpretation and application of financial regulations.
- Maintained effective working relationships with regulatory authorities, suppliers and customers.
- Played instrumental role in company-wide risk assessment efforts, supporting enhancements in business processes and controls.
- Prepared records and data for regular audits.
- Managed compliance efforts, reporting and audits.
Compliance Consultant
07.2016 - 06.2017
- Assisted start-up investment and financial advisors in designing legal and compliance processes to ensure business profitability.
- Collaborated with a well-known intermediary association to provide training to its executive committee and member financial advisors, reviewing founding documents and various agreements.
Legal And Compliance Manager
Land Bank SA
10.2015 - 06.2016
- Licensed as a FAIS and AML compliance officer.
- Spearheaded the design and implementation of the compliance risk management programme for the insurance companies.
- Oversaw the implementation of TCF and POPIA.
- Conducted compliance reviews through audits of third parties, including binder holders and intermediaries.
- Gained expertise in managing PFMA, Treasury Regulations, and overall SOC compliance risk management.
- Drafted and presented board committee reports.
- Provided legal advisory services and drafted and reviewed agreements.
Compliance Manager
Guardrisk Insurance Company and MMI
12.2011 - 09.2015
- Led the compliance risk management function at Guardrisk and served as a licensed compliance officer for all five FSPs, as well as AML and NCR compliance officer.
- Managed projects related to the embedding of compliance requirements and new legislation implementation, including POPIA, TCF, BBBEE, and new insurance legislation such as SAM.
- Drafted and tabled board committee reports.
- Acted as a key player in implementing a combined assurance approach to enterprise risk management.
- Transferred to MMI Holdings following its acquisition of Guardrisk, to lead group compliance programmes for the MMI Group compliance function, including CISCA, FICA, and mandate compliance across collective investment schemes compliance, and serve as the chairman of the MMI Groupwide FAIS Compliance Committee.
- Contributed significantly as a member of the SAM Implementation Project.
Compliance Manager
FNB Corporate Banking
12.2009 - 11.2011
- Licensed as a FAIS compliance officer.
- Managed projects for the embedding of compliance requirements and new legislation implementation, including POPIA, NCA, and CPA.
- Provided compliance management and assurance services across the entire corporate banking segment, including compliance with CISCA, FICA, and mandate compliance across collective investment schemes.
- Drafted a quarterly compliance newsletter.
- Represented Corporate Banking in FirstRand Group compliance workshops, project meetings, and conferences.
Legal And Compliance Specialist
Mercedes-Benz Sa
08.2007 - 11.2009
- Initiated my first role as a licensed compliance officer, establishing the compliance function.
- Managed FAIS, NCA, and AML compliance.
- Conducted training on new regulatory requirements and presented updates on changes to these regulations.
- Provided advice on compliance queries from the business team.
- Performed compliance reviews on dealerships across South Africa to ensure seamless embedding of compliance standards.
Junior Legal Analyst
Financial Sector Conduct Authority
10.2005 - 07.2007
- Evaluated pension and provident fund rules to ensure compliance with the Pension Funds Act, Long-Term Insurance Act, Income Tax Act, Regulations, and FSCA policy to safeguard the interests of members and funds.
- Provided legal opinions on compliance with relevant legislation and on the drafting and interpretation of policy documents.
- Resolved queries and complaints from both members and funds, addressing issues related to corporate governance concerning pension funds and administrators.
Broker Consultant
Liberty Life
02.2003 - 09.2005
- Marketed insurance and investment products to brokers, cultivating relationships to foster brand and product loyalty.
- Conducted training for brokers on products, servicing procedures, and compliance requirements.
Education
Mphil - Responsible Leadership
University of Pretoria
08.2025
Post-Graduate Diploma - Compliance Management
University of Johannesburg
11.2010
Bachelor of Laws - undefined
Wits University
07.2002
Skills
- Regulatory & Legislative Expertise
FAIS (All Categories), FICA, PFMA, CISCA, Pension Funds Act (Regulation 28), Companies Act, King IV, Financial Markets Act, POPIA, Competition Act
FSCA-approved Compliance Officer; FIC-registered AML/FICA Officer; completed RE1
Implementation of new legislation across financial services, investment management, and insurance sectorsGovernance & Leadership
Board and Committee reporting; EXCO advisory on compliance and risk
Development and implementation of compliance strategy, frameworks, policies, and monitoring plans
Leadership, coaching, and mentoring of compliance teams, with a focus on succession planning and performance managementStrategic & Analytical Delivery
Compliance audits and reporting, data-driven decision making, KPI development, and MI dashboards
Policy interpretation, regulatory change management, and impact evaluation
Budget management, strategic planning, and resource allocation
Scenario analysis and regulatory impact forecastingCommunication & Stakeholder Engagement
Influencing and negotiating with stakeholders and decision-makers at all levels
Conflict resolution, change management leadership, and culture building around compliance
Training programme design and delivery, capacity building, and knowledge transfer
Crisis and business continuity compliance leadershipInvestment Compliance
Oversight of Collective Investment Schemes, Pension Funds, Medical Aid Schemes, and Investment Mandate Compliance
Compliance monitoring across financial instruments, structured products, and multiple asset classes
Risk assessment, control frameworks, combined assurance, and enterprise compliance strategyRegulatory Reporting & Liaison
Proactive and direct engagement and reporting with FSCA, SARB, FIC, Prudential Authority, and other statutory regulators
Skilled at preparing submissions, responding to potential and actual compliance breaches, and managing regulatory inspections
Recognised as the first port of call for regulators at executive and board levelCompliance Technology & Automation
Implementation of GRC systems, compliance automation, and digital monitoring tools
Application of data analytics and visualization for regulatory reporting and board decision-making
Leveraging RegTech solutions to enhance compliance to enhance compliance managementRisk & Assurance
Enterprise-wide compliance risk assessments and internal control frameworks
Combined Assurance alignment with internal audit, risk, and external assurance providers
ESG requirements
Timeline
Chief Consultant
Fix Legal and Compliance Services
07.2018 - Current
Head of Compliance: Reporting and Oversight
Nedbank
07.2017 - 06.2018
Compliance Consultant
07.2016 - 06.2017
Legal And Compliance Manager
Land Bank SA
10.2015 - 06.2016
Compliance Manager
Guardrisk Insurance Company and MMI
12.2011 - 09.2015
Compliance Manager
FNB Corporate Banking
12.2009 - 11.2011
Legal And Compliance Specialist
Mercedes-Benz Sa
08.2007 - 11.2009
Junior Legal Analyst
Financial Sector Conduct Authority
10.2005 - 07.2007
Broker Consultant
Liberty Life
02.2003 - 09.2005
Post-Graduate Diploma - Compliance Management
University of Johannesburg
Bachelor of Laws - undefined
Wits University
Mphil - Responsible Leadership
University of Pretoria
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