Shoprite Financial Services is seeking a Head of Compliance to take on a senior leadership role in Brakenfell, Cape Town. The successful candidate will oversee and manage all regulatory and compliance matters across a diverse portfolio, including the Money Market Bank Account, Voucher Account, Credit, and Remittances. This position is critical for ensuring adherence to relevant laws, regulations, and industry standards, thereby safeguarding the organisation’s reputation and operational integrity.
The Head of Compliance will report directly to the General Manager of Shoprite Financial Services and will lead the compliance teams, fostering a culture of compliance, risk awareness, and ethical conduct while also maintaining a dotted line reporting structure to the Head of Business.
Key responsibilities include developing and maintaining a comprehensive compliance framework to meet regulatory requirements, such as those set by the Financial Sector Conduct Authority (FSCA) and the South African Reserve Bank (SARB). The role involves monitoring regulatory changes and providing strategic guidance to senior management on compliance risks and mitigation strategies.
Leadership responsibilities encompass mentoring and developing the compliance teams, ensuring effective management of compliance processes for each financial product. The Head of Compliance will also collaborate with the Head of Business to align compliance initiatives with overall business goals.
Risk management is a crucial component of this role, requiring the identification and mitigation of compliance risks across all financial services operations. The successful candidate will implement robust monitoring mechanisms and conduct regular compliance audits to ensure adherence to policies and regulations.
Engagement with stakeholders is essential, as the Head of Compliance will serve as the primary point of contact for regulatory bodies, ensuring clear communication. The role will involve preparing compliance reports for senior management and governance committees while building strong relationships with internal stakeholders.
The ideal candidate will hold a Bachelor’s degree in Law, Finance, Business Administration, or a related field, with a postgraduate qualification or professional certification being highly desirable. A minimum of ten years’ experience in a compliance or regulatory role within the financial services industry is required, including at least five years in a senior leadership position.
Candidates should possess in-depth knowledge of South African financial services regulations, strong leadership skills, and excellent analytical and problem-solving abilities.
This is a permanent position, and applications will close on 30 September 2025.
Apply here