Compliance & Risk Manager

Location:

Cape Town, hybrid
· Type:
Permanent, full-time
·

Reports to:

Head of Legal

The Compliance & Risk Manager is responsible for overseeing compliance, operational risk, and fraud risk across the Lesaka Enterprise Division. The role ensures that regulated payment businesses meet all regulatory, sponsoring bank, scheme, and contractual obligations, while providing guidance on current and emerging compliance requirements. Acting as the Division's second line of assurance, the role works closely with Group Risk & Compliance, manages operational and fraud risks, and oversees the fraud investigation function.

• Develop and maintain the Division's compliance framework, regulatory universe and compliance risk management plans, aligned to Group Compliance standards.
• Identify and track all legislation, SARB directives, PASA requirements, scheme rules and contractual obligations that apply to each company in the Division.
• Monitor regulatory change, including changes to the national payment system regulatory framework, and advise business on its impact.
• Assess the compliance and risk impact of new products, channels, partners and integrations before launch.

• Ensure that the Division's TPPP activities comply with the National Payment System Act and SARB Directive 1 of 2007, including the protection and handling of funds collected on behalf of billers.
• Ensure that the Division's System Operator activities comply with the National Payment System Act, SARB Directive 2 of 2007, PASA authorisation criteria and the rules of the payment clearing houses in which the Division operates.
• Manage sponsoring bank requirements, including annual due diligence and enhanced due diligence reviews, questionnaires and information requests.
• Lead the Division's response to SARB, PASA and sponsoring bank inspections and reviews, and track remediation actions to closure.
• Maintain a register of the Division's licenses, registrations, authorisations and sponsorship arrangements, with renewal dates and responsible owners.
• Make sure that collector, biller, switching and participant agreements reflect the Division's regulatory obligations, working with Legal.

• Develop and run a risk-based compliance monitoring plan for the Division.
• Review business processes, systems and controls, and check and challenge first line processes and controls.
• Investigate compliance breaches, record the outcome and recommend practical solutions.
• Track findings and remediation actions to closure and accelerate material breaches to senior management in good time.
• Support internal and external audits and combined assurance activities.

• Maintain the Division's operational risk framework, risk registers, risk and control self-assessments and key risk indicators.
• Manage risk incidents and loss events, including root-cause analysis and corrective actions.
• Manage third party risk arising from collectors, billers, agents, merchants, utility clients and suppliers.
• Support Business Impact Assessments and the maintenance and testing of the Business Continuity Management Plan.
• Embed the Division's risk appetite and tolerance statements in day-to-day operations.

• Manage the Division's obligations under the Financial Intelligence Centre Act where applicable, including customer and counter party due diligence, sanctions screening and reporting to the Financial Intelligence Centre.
• Oversee fraud risk management and the fraud investigation function, including fraud trends, losses and reporting under the Prevention and Combating of Corrupt Activities Act.
• Support compliance with POPIA, PCI DSS, the Cybercrimes Act and exchange control requirements for cross-border and remittance collections.
• Engage with SABRIC, PASA and industry forums on financial crime and fraud matters.

• Prepare monthly and quarterly compliance and risk reports and dashboards for Enterprise EXCO, risk committees and Group Risk & Compliance.
• Develop and deliver compliance, risk and fraud awareness training across the Division.
• Manage, develop and set objectives for the Fraud Investigator.

• 7+ years' experience in compliance and/or risk management within payments, banking or fintech.
• Direct experience of national payment system regulation, including TPPP and/or System Operator…