Summary
Overview
Work History
Education
Skills
Timeline
Generic

Vutivi Nkwinika

Business Unit Compliance Officer
Johannesburg

Summary

I am proven compliance professional with a robust background at Absa Bank, excelling in compliance advisory services,risk management, and delivering impactful regulatory and policy training. I hold a Bachelors of Law (LLB) Degree from the University of Witwatersrand and a Financial Sector Conduct Authority RE1 Examination Certificate. I posses great interpersonal skills, which enables me to easily obtain stakeholder buy-in in turn ensuring that all compliance objectives are met. I bring forth a hardworking attitude, eager to ensure quality compliance support within the prescribed timelines in the next organisation I join.

Overview

8
8
years of professional experience

Work History

Business Unit Compliance Officer- PSC

Absa Bank
08.2022 - Current
  • Identify new and existing regulatory requirements and policies applicable to the Business Unit.
  • Develop and maintain the business unit regulatory universe.
  • Design and deliver compliance training to business stakeholders to enhance awareness of regulatory requirements and internal policies requirements.
  • Prepare compliance risk assessment to assess compliance risks that may arise due to business unit activities.
  • Prepare compliance risk management plans to enable Business Unit to identify compliance risks and document controls for high risk/ core regulatory requirements applicable to a distribution Business Unit in the financial sector. (e.g POPIA and FAIS Act).
  • Guiding Business Unit through regulatory changes, to ensure compliance whilst maintaining minimum disruption to business operations.
  • Monitoring and reporting on compliance risk and providing compliance guidance to mitigate issues proactively.
  • Providing proactive and effective compliance advisory support for Business Unit activities (e.g campaigns, products and sales)
  • Monitoring and testing compliance with regulatory and policies requirements using the prescribed compliance methodology.
  • Record and report instances of non-compliance identified during monitoring activities
  • Maintain a Dispensation, Waiver and Breach (DWB) tracker: escalate all instances of DWBs to Advice and Investment Head of Compliance and Business Unit management. Where breaches have been identified, document and track execution the remediation plan.
  • Design and deliver compliance training material to Business Unit stakeholders to enhance compliance and awareness of regulatory requirements and internal policies requirements.
  • Representing Compliance on various internal committees (Complaints Committee, MIE Committee, AIFA MANCO, AIFA Exco and Business Review Committee)
  • Prepare monthly compliance reports and quarterly board reports to various committees (e.g ERC, MANCO, AIFA Exco and Business Review Committee)
  • Preparing and submit regulatory reports and license renewals as per the regulatory requirements to regulators (FSCA and CMS).
  • Liaise with regulators regarding changes to Business Unit activities that my impact on the FAIS licensing and Council of Medical Scheme Accreditation conditions.
  • Providing compliance guidance on business unit strategic projects.

Legal and Compliance Specialist : RB

Absa Bank
01.2022 - 07.2023
  • Identify new and existing regulatory requirements and policies applicable to the Business Units (Absa Inusrance and Financial Advisers and Absa Trust.
  • Prepare compliance risk assessment to assess compliance risks that may arise due to business unit activities.
  • ProvidE training and awareness on new regulatory requirements and on going training on high-risk/core legislation (Protection of Personal Information Act ('POPIA') and Financial Advisory and Intemediary Services Act ('FAIS Act'), Trust Property Control Act).
  • Provide training and awareness on internal compliance policies.
  • Assist Business Units embed new/ amended regulatory requirement and policies into business processes.
  • Review Business Unit critical processes for compliance with applicable regulatory requirements (e.g. Consumer Protection Act,POPIA ,Trust Property Act and FAIS Act).
  • Prepare Compliance Risk Management Plans to enable Business Unit to identify compliance risks and document controls for high risk/ core regulatory requirements (e.g. Consumer Protection Act, POPIA , Trust Property Act and FAIS Act).
  • Monitor and test compliance with regulatory requirements and policies using the prescribed compliance methodology.
  • Maintain an issue management tracker: tracking the remediation of instances of non-compliance identified during monitoring and testing process.
  • Assist Business Units map out and track action plans to remediate instances of non-compliance.
  • Prepare and presenting monthly management committee reports and quarterly board reports outlining any compliance issues in the Business Units and new regulatory developments.( Absa Trust Manco, AIFA Manco, AIFA Board Committee).
  • Prepare and submit regulatory reports and license renewals as per the regulatory requirements to regulators (FSTC,FSCA and CMS).
  • Ethics Ambassador : NBFS Compliance representative at the Group Ethics Forum .

Junior Compliance Officer- ECF

Absa Bank
06.2017 - 12.2021
  • Assist Business Units identify Regulations and Internal Policies that are applicable to them and the risks that may arise from non-compliance to these Legislation and Internal Policies using the Compliance Risk Assessment process.
  • Draft Risk Management Plans to assisting Business Units put controls in place to minimize non-compliance with all the applicable Legislation and Internal Policies.
  • Provide awareness training on new Regulations and Internal Policies on an adhoc basis.
  • Monitor and testcompliance with regulatory requirements using the prescribed compliance methodology.
  • Maintain a fine and breach register for all the breaches that have occurred and fines received.
  • Provide proactive and effective compliance advisory support to the Marketing, Communications and Citizenship Functions.
  • Ensure that all Marketing Material and Competitions are in line with Regulations (NCA, FAIS, POPIA and CPA) and Internal Policies.
  • Maintain a training log containing all the scheduled compliance training.
  • Provide a monthly report on all compliance top of mind issues and progress on the planned training.

Candidate Attorney

HNM Attorney
01.2017 - 06.2017
  • Conducted thorough research on various areas of law, ensuring accurate information and strong case foundations.
  • Prepared essential legal documents for successful case outcomes and settlements.
  • Managed multiple caseloads simultaneously without compromising quality or timeliness of work product.
  • Kept abreast of developments in relevant legislation, ensuring that advice given was current and accurate at all times.
  • Client on boarding as per FICA requirements  Assisting with collating evidence and drafting forensic investigations.
  • General legal administrative work.

Education

FAIS RE1 Regulatory Examination: FSP And KI

Moonstone Business School of Exellence
07-2023

Report Writing Compliance Certification

Institute of Advance Journalism
Johannesburg, South Africa
02-2020

Bachelor of Laws

University of The Witwatersrand
Johannesburg, South Africa
12-2016

Skills

Microsoft Office Knowledge

Compliance monitoring

Compliance reporting

Risk management

Compliance training

Timeline

Business Unit Compliance Officer- PSC

Absa Bank
08.2022 - Current

Legal and Compliance Specialist : RB

Absa Bank
01.2022 - 07.2023

Junior Compliance Officer- ECF

Absa Bank
06.2017 - 12.2021

Candidate Attorney

HNM Attorney
01.2017 - 06.2017

FAIS RE1 Regulatory Examination: FSP And KI

Moonstone Business School of Exellence

Report Writing Compliance Certification

Institute of Advance Journalism

Bachelor of Laws

University of The Witwatersrand

Similar Profiles

CREATE PROFILE
Vutivi NkwinikaBusiness Unit Compliance Officer