Compliance Manager: Payments

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Job Description
At 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.
Responsibilities
Programme Development & Oversight
Assist the Head of Regulatory and Conduct Risk in designing and implementing a payments compliance programme
Ensure all required licenses are obtained and maintained in good standing
Identify and assess regulatory requirements impacting payments under the National Payments System Act, PASA rules, and related frameworks
Conduct impact assessments and prepare remediation plans for identified gaps
Track remediation progress by business units to completion
Oversee compliance relating to SAMOS (South African Multiple Option Settlement system) and the clearing and settlement of both local and offshore payments
Policy & Guidance
Develop and maintain payments compliance policies, procedures, and guidance for the Bank
Collaborate with business units to implement operational controls and processes aligned with regulatory requirements
Provide recommendations on best practice to strengthen the payments control environment
Monitoring & Reporting
Monitor payments compliance across business units to ensure ongoing adherence
Prepare and submit internal compliance reports and regulatory reports to SARB, PASA, and other relevant stakeholders
Support the Chief Compliance Officer in establishing and maintaining relationships with payments supervisory and regulatory bodies
Stakeholder Engagement
Act as a subject matter expert on payments compliance, advising business units on regulatory obligations
Collaborate with cross-functional teams to embed compliance into operational processes
Represent the Bank in regulatory discussions and industry forums where required
Exchange Control
Provide oversight and execution of Exchange control strategy, performance, risks, and regulatory developments.
Draft and implement the Exchange control compliance programme
Collaborate with 1st line to ensure operationalisation of Exchange Control regulatory requirements are embedded
Regulatory Interfaces
The 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 requirements
Payments Association of South Africa (PASA) – compliance with industry rules and operational standards
SAMOS (South African Multiple Option Settlement system) – oversight of compliance relating to clearing and settlement of local and offshore payments
Other relevant payments supervisory and regulatory bodies as required
Requirements:
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 services
Strong knowledge of the National Payments System Act, subordinate legislation, PASA rules, and SAMOS clearing and settlement processes
Experience in developing compliance programmes, policies, and monitoring frameworks
Proven track record of managing regulatory reporting, stakeholder engagement and Exchange Control
Skills & Competencies
Excellent understanding of payments systems, including local and offshore clearing and settlement
Strong analytical and problem-solving skills
Ability to design and implement compliance controls and monitoring processes
Effective communication and stakeholder management skills
High attention to detail and ability to manage multiple priorities
Strong leadership and collaboration skills to influence business units
Skills
Compliance 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 Development
Competencies
Balances StakeholdersCommunicates EffectivelyFinancial AcumenInstills TrustInterpersonal SavvyManages AmbiguityManages ComplexityOptimizes Work Processes
Education
NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent
Closing Date
27 September 2026 , 23:59
The 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.
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