Operations Specialist - Trust Services-1 at Absa Bank Limited

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Job Summary

The primary purpose of this role is to assist with the execution of ongoing management of regulatory compliance, governance, and operational process frameworks for Trust Services. The role ensures full alignment with all fiduciary, legal, and regulatory requirements applicable to trust administration in South Africa.

Job Description

1. Trust Regulatory Compliance Support

• Assist in implementing applicable legislation, including the Trust Property Control Act, FICA, FAIS, POPIA, Income Tax Act, Tax Administration Act, Estate Duty Act, Administration of Estates Act, and Wills Act.

• Support the preparation and submission of regulatory reports to bodies such as the FSCA, Prudential Authority, FIC, SARS, and the Master of the High Court.

• Monitor regulatory updates and escalate relevant changes for review and implementation.

• Assist in the execution of the Trust Regulatory Compliance framework, ensuring alignment with FICA, AML/CFT, FATCA, CRS, and regulatory requirements.

• Track and follow up on trust regulatory and stakeholder requirements to support timely compliance.

2. Governance and Fiduciary Risk Support

• Assist in maintaining governance frameworks in line with trust regulatory requirements and best practice.

• Support the implementation of governance structures and reporting processes relating to trustee conduct and decision-making.

• Coordinate and assist with annual policy reviews, regulatory training, and trustee onboarding processes.

• Help maintain and update compliance policies, procedures, and training materials for operational teams.

3. Risk Management and Internal Controls Support

• Assist in maintaining the business risk register and ensuring that risks are accurately captured and updated.

• Identify potential compliance or operational risks and escalate to senior team members.

• Support remediation activities arising from internal audits, compliance reviews, and risk assessments.

• Assist in implementing internal control improvements in response to regulatory requirements.

• Provide administrative and coordination support during compliance reviews, audits, and regulatory inspections.

4. FICA and AML Support

• Assist in executing client due diligence processes, including KYC reviews, client risk profiling, and periodic refreshes.

• Support the identification and escalation of suspicious transactions in line with FICA requirements.

• Ensure proper documentation and timely submission of required information to the relevant compliance teams.

5. Stakeholder and Regulatory Support

• Support engagement with internal stakeholders such as legal, compliance, and risk teams.

• Assist in preparing reports and documentation for management and governance forums.

• Provide coordination support for regulatory inspections and audit preparations.

• Escalate identified compliance risks or issues to senior team members for further action.

6. Data Analysis and MI Reporting

• Assist in collecting, analysing, and interpreting trust compliance and operational data to support decision-making.

• Prepare and maintain Management Information (MI) reports and dashboards for tracking regulatory compliance, registration progress, and risk metrics.

• Ensure data accuracy, completeness, and timely reporting to internal stakeholders.

• Identify trends, gaps, and anomalies in data, and escalate insights to support continuous improvement.

• Support ad hoc data requests and reporting requirements for audits, regulatory engagements, and management reporting.

Education

Higher Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised