Old Mutual
Let's Write Africa's Story Together!Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this. Job DescriptionAt OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose - building something unique and aspirational, always aiming to be the best they can be. We are rooted in our purpose of inspiring and enabling our customers to grow and sustain their prosperity.The role is best suited to a candidate that has extensive skill and experience in compliance and conduct risk management practices and processes. The role requires an individual who has a keen interest in adopting an Innovative approach to compliance and conduct risk management.The Payments Compliance Manager will play a critical role in the Compliance Department, supporting the Head of Regulatory and Conduct Risk in establishing and maintaining a robust payments compliance programme.This role ensures that the Bank meets all regulatory obligations under the National Payments System Act, subordinate legislation, and the Payments Association of South Africa (PASA) rules. The incumbent will provide guidance to business units, oversee remediation of compliance gaps, and manage internal and external reporting obligations to regulators and stakeholders. ResponsibilitiesProgramme Development & OversightAssist the Head of Regulatory and Conduct Risk in designing and implementing a payments compliance programmeEnsure all required licenses are obtained and maintained in good standingIdentify and assess regulatory requirements impacting payments under the National Payments System Act, PASA rules, and related frameworksConduct impact assessments and prepare remediation plans for identified gapsTrack remediation progress by business units to completionOversee compliance relating to SAMOS (South African Multiple Option Settlement system) and the clearing and settlement of both local and offshore paymentsPolicy & GuidanceDevelop and maintain payments compliance policies, procedures, and guidance for the BankCollaborate with business units to implement operational controls and processes aligned with regulatory requirementsProvide recommendations on best practice to strengthen the payments control environmentMonitoring & ReportingMonitor payments compliance across business units to ensure ongoing adherencePrepare and submit internal compliance reports and regulatory reports to SARB, PASA, and other relevant stakeholdersSupport the Chief Compliance Officer in establishing and maintaining relationships with payments supervisory and regulatory bodiesStakeholder EngagementAct as a subject matter expert on payments compliance, advising business units on regulatory obligationsCollaborate with cross-functional teams to embed compliance into operational processesRepresent the Bank in regulatory discussions and industry forums where requiredExchange Control Provide oversight and execution of Exchange control strategy, performance, risks, and regulatory developments.Draft and implement the Exchange control compliance programmeCollaborate with 1st line to ensure operationalisation of Exchange Control regulatory requirements are embeddedRegulatory InterfacesThe Payments Compliance Manager will be responsible for maintaining effective compliance engagement with: South African Reserve Bank (SARB) – ensuring adherence to the National Payments System Act and supervisory requirementsPayments Association of South Africa (PASA) – compliance with industry rules and operational standardsSAMOS (South African Multiple Option Settlement system) – oversight of compliance relating to clearing and settlement of local and offshore paymentsOther relevant payments supervisory and regulatory bodies as requiredRequirements: Qualification and Experience:Bachelor’s degree in law, Finance, Compliance, or related field (postgraduate qualification advantageous)Minimum 5–7 years’ experience in compliance, risk management, or regulatory affairs, preferably within banking or financial servicesStrong knowledge of the National Payments System Act, subordinate legislation, PASA rules, and SAMOS clearing and settlement processesExperience in developing compliance programmes, policies, and monitoring frameworksProven track record of managing regulatory reporting, stakeholder engagement and Exchange ControlSkills & CompetenciesExcellent understanding of payments systems, including local and offshore clearing and settlementStrong analytical and problem-solving skillsAbility to design and implement compliance controls and monitoring processesEffective communication and stakeholder management skillsHigh attention to detail and ability to manage multiple prioritiesStrong leadership and collaboration skills to influence business units SkillsCompliance Software, Data Compilation, Engineering Standards, Executing Plans, Legal Practices, Performance Management Design, Policies & Procedures, Procurement Performance, Project Quality Management, QA Methodologies, Regulatory Compliance Management, Requirements DevelopmentCompetenciesBalances StakeholdersCommunicates EffectivelyFinancial AcumenInstills TrustInterpersonal SavvyManages AmbiguityManages ComplexityOptimizes Work ProcessesEducationNQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalentClosing Date27 September 2026 , 23:59The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.The Old Mutual Story!