Gugulethu Matlali

Following the wind-down of Sasfin Bank Limited's Business and Commercial Banking division, transitioned to African Bank Limited in the same role of Compliance Manager to provide continuity of compliance leadership and support the establishment of the Business and Commercial Banking compliance function.

• Led the design and implementation of a robust Enhanced Due Diligence (EDD) framework for the Business and Commercial Banking division, ensuring alignment with regulatory requirements, the bank's risk appetite, and industry best practices.
• Developed risk-based EDD policies, standards, procedures, and operating guidelines for high-risk customers, products, industries, and jurisdictions, enhancing compliance with regulatory expectations.
• Defined customer risk-rating methodologies and EDD trigger events to support consistent risk classification and escalation across the customer lifecycle.
• Established governance processes for the identification, review, approval, and ongoing monitoring of high-risk client relationships.
• Collaborated with Risk, Legal, Financial Crime, Operations, Product, and Business stakeholders to embed EDD requirements into onboarding, client reviews, and transaction monitoring processes.
• Oversaw the implementation of EDD controls within operational workflows and digital onboarding systems to ensure consistent execution and regulatory compliance.
• Designed quality assurance and monitoring processes that assessed EDD control effectiveness and identified continuous improvement opportunities, strengthening overall compliance posture.
• Performed gap analyses against applicable legislation, regulatory guidance, and industry standards, implementing remediation plans where required.
• Advised senior management and business leaders on complex AML/CFT, sanctions, politically exposed persons (PEP), adverse media, and beneficial ownership risks.
• Developed management information (MI), key risk indicators (KRIs), and compliance reporting dashboards to monitor EDD performance and emerging financial crime risks.
• Delivered training and awareness programmes to frontline staff and management, ensuring effective application of EDD requirements and enhancing understanding of regulatory obligations.
• Monitored legislative and regulatory developments relating to AML/CFT, sanctions, and financial crime compliance, updating the EDD framework to maintain regulatory compliance.
• Worked closely with technology teams to define business requirements for the automation of EDD processes, workflow management, and case management capabilities.

• Identify, assess, manage, and report regulatory risks and obligations relevant to BCB, ensuring the Compliance function adheres to statutory responsibilities with due care, skill, and diligence.
• Elevate risk impacts to regulatory obligations, ensuring alignment with the regulatory universe.
• Facilitated workshops to evaluate control weaknesses and recommended amendments to enhance compliance effectiveness.
• Review and sign off on all monitoring fieldwork and reports prepared by Junior and Senior Compliance Officers.
• Applied knowledge of banking products, governance, and control frameworks to strengthen compliance practices within financial services.
• Draft the Compliance regulatory plan in line with the group’s RMCP.
• Assist with designing and implementing a compliance complaints management procedure to ensure fair treatment of clients and proper acknowledgment of their concerns.
• Champion a culture of compliance within the business and formulate the compliance coverage plan.
• Provide advisory services and guidance in accordance with regulatory requirements within BCB.
• Conduct training and awareness initiatives within the business on regulatory items, including STRs, FICA, and AML.
• Championed compliance culture and formulated compliance coverage plan to align with regulatory standards and business objectives.
• Identify and address regulatory reporting requirements and obligations to management, ensuring compliance reporting is relevant, reliable, and timely.
• Facilitate and oversee workshops to evaluate control weaknesses, providing recommendations for control amendments.
• Employ analytical skills to scrutinise trends and typologies in data, making informed decisions based on findings.
• Manage daily AML Line 1 and 2 reporting requirements.
• Executed compliance-related duties assigned by management.
• Oversaw daily reporting requirements for AML Line 1 and 2 to ensure compliance.

• Oversee the monitoring and reporting of all assigned compliance, including Exchange control and AML reports relevant to Business and Commercial Banking (BCB).
• Facilitated compliance projects with diligent monitoring to ensure adherence to regulatory standards.
• Conducted workshops with business units to identify control weaknesses and provided actionable recommendations for remediation.
• Utilise analytical skills to assess trends and typologies in data, facilitating informed decision-making.
• Offer advisory services and guidance aligned with regulatory requirements specific to BCB.
• Ensure timely resolution of complaints and accurate recording on the bank's system.
• Developed tailored Compliance Risk Management Plans to address specific risks within BCB.
• Ensure FICA compliance for accounts opened within BCB by actively engaging in the vetting of documentation and maintaining ongoing account integrity.
• Provide management with reasonable assurance regarding the legitimacy of transactions and the validity of applications received, including review of client onboarding information and channels.
• Monitor fraud reports and escalate to management upon detection of any fraudulent activity, including management of the Monitoring and Screening System.
• Conduct Enhanced Due Diligence on potential, new, and existing clients.
• Assist in monitoring and managing Cash threshold reporting and Suspicious transaction reporting.
• Investigate, assess, and resolve queries pertaining to BCB promptly.
• Ensure strict compliance with all regulatory requirements and reporting obligations.
• Comprehend BCB's policies and procedures and assist in enhancing them based on legislative changes and process improvements.
• Continuously enhance product and system knowledge while introducing automated workflows to processes.
• Assist in monitoring compliance with policies, legislation, and regulations within BCB.
• Perform additional duties to support the development of BCB.
• Developed strong relationships with stakeholders through regular communication and collaboration.
• Monitor compliance with relevant legislations including The Banks Act, Financial Advisory and Intermediary Services Act, and Protection of Personal Information Act.

• Develop the bank's Compliance Framework, ensuring its relevance and robustness.
• Maintain an up-to-date Regulatory Universe aligned with current legislative requirements.
• Draft, update, and maintain Compliance Risk Management Plans ('CRMPs') for the business.
• Identify legislative amendments, draft legislation, and new regulations impacting the bank's compliance framework, recommending necessary changes.
• Draft, update, and maintain Compliance Risk Management Plans ('CRMPs') as necessary for the business.
• Formulate a risk-based monitoring plan for the bank in accordance with regulatory requirements and business objectives.
• Identified legislative amendments and new regulations impacting bank's compliance framework, recommended necessary changes.
• Oversaw management of non-compliant items, ensured timely remediation of findings from monitoring interventions, audits, and regulatory reviews.
• Implemented awareness initiatives by conducting workshops and training sessions to sensitise business on compliance matters.
• Implement awareness initiatives to continuously sensitise the business by conducting workshops and training sessions.
• Assist in drafting and maintaining Compliance-related policies, procedures, and guidelines for the business.
• Represent the bank in Industry engagement meetings with organisations such as SABRIC and BASA, addressing regulatory matters.

• Execute customer onboarding and surveillance actions to fulfill the bank's objectives of sustainable value, optimal productivity, and end-to-end customer satisfaction while complying with the Financial Intelligence Centre Act (FICA).
• Ensure verification and updating of all FICA documentation comply with regulatory standards.
• Verified Balance of Payment mandates and maintained accurate records of information and images to ensure compliance.
• Evaluate suspicious activity reports submitted by Business Centre staff, implementing or refining system rules as necessary.
• Stay informed about anti-money laundering and combating financing of terrorism best practices, trends, and developments.
• Monitored and investigated alerts from the surveillance system to identify suspicious activity, enhancing system effectiveness.
• Verify that Balance of Payment mandates are loaded and duly signed, maintaining accurate records of information and images.
• Interpreted legislation and provided guidance to address compliance challenges raised by Business Centre personnel.
• Maintain daily, weekly, and monthly statistics for reporting purposes.

• Manage and maintain Mercantile Bank’s collaterals/policies, ensuring accuracy in policy schedules.
• Instruct the Credit Department regarding payment transactions, including follow-ups on payments, aiding with payment inquiries, and advising branches on payment options.
• Instructed Credit Department on payment transactions, followed up on payments, addressed payment inquiries, and advised branches on payment options to ensure smooth operations.
• Obtained competitive insurance quotes for clients, enhancing service offerings and client satisfaction.
• Conduct property valuations as part of bond cancellation processes.
• Manage the cancellation of related securities/collaterals following bond cancellation completion.
• Sort, file, and control securities documents within the vault, ensuring security and accessibility.
• Ensure that securities are always under dual control.
• Prepare security documents for in-house products, adhering to conditions of sanction from the Credit Department.
• Conduct annual updates of renewed policies covering Homeowners Insurance, Life Cover Insurance, and Comprehensive Insurance (vehicles, equipment, plant, and machinery).
• Administer filing records and maintain an efficient system for the department.
• Prepare Notice Letters for all cancelled or lapsed insurance coverage.
• Conducted property valuations to facilitate accurate bond cancellations, contributing to efficient processing.
• Cancel cessions on assets that have been paid off.
• Oversee the obsolescence of securities and manage archiving processes.
• Follow up on payment associated with guarantees upon bond cancellations.
• Oversee the obsoletion of securities and manage archiving processes.
• Log items removed from the vault, ensuring originals are tracked and received.

• Captured insurance applications for various products, ensuring accurate processing of Life Cover, Investments, Death Benefits, Retirement Annuities, Funeral and Educational policies, Pension Funds, and Preservation Funds.
• Streamlined administrative processes, enhancing operational efficiency and reducing turnaround times.
• Coordinated multi-departmental communication to ensure alignment on project deliverables and timelines.
• Managed scheduling for executive meetings, optimizing resource allocation and time management.

• Processed new business applications for cheque accounts, savings accounts, home loans, credit cards, personal loans, and account upgrades to facilitate customer access to financial products.
• Streamlined order processing to enhance workflow efficiency and reduce turnaround time.
• Coordinated communication between sales teams and clients, ensuring timely updates and resolution of inquiries.
• Managed inventory records using CRM systems, maintaining accuracy in product availability and customer orders.