• Full Time
  • Cape Town, South Africa

The National Student Financial Aid Scheme

Location: Cape Town, Western Cape, South Africa
Job Type: Full Time
Qualification: Bachelor’s Degree (NQF Level 8)
Experience: 15 years in Risk Management and Compliance, with 10 years in managerial roles
Closing Date: [Not specified]

The National Student Financial Aid Scheme (NSFAS), a public entity reporting to the Department of Higher Education and Training, is responsible for providing academic bursaries to South African citizens. NSFAS is looking for a Senior Manager: Risk and Compliance to lead the organisation’s risk management and compliance efforts. This role ensures that the organization operates in accordance with relevant laws, regulations, and best practices, mitigating risks and providing strategic guidance to senior leadership.

Position Overview:

The Senior Manager for Risk and Compliance will develop and implement risk management strategies, ensuring adherence to legal requirements and industry standards. The role involves working closely with cross-functional teams, identifying and mitigating potential risks, conducting compliance audits, and reporting on compliance activities.

Key Responsibilities:

Risk Management:

  • Develop and implement strategies to manage and mitigate risks that could impact the organisation.
  • Collaborate with various teams to integrate risk management processes across the organisation.
  • Identify potential risks (strategic, operational, etc.) and assess their likelihood and impact.
  • Prioritize risks based on their severity and implement plans to mitigate or manage them.
  • Monitor risk exposure and the effectiveness of risk management strategies.
  • Report risks to senior management and ensure crisis preparedness and response capabilities.

Compliance Management:

  • Ensure the organisation adheres to relevant laws, regulations, and industry standards.
  • Develop and enforce internal policies and procedures to maintain compliance.
  • Conduct regular internal audits and reviews to assess and maintain compliance, identifying areas for improvement.
  • Provide training to employees and stakeholders on regulations and compliance requirements.
  • Maintain accurate records of compliance activities and report any non-compliance or breaches.

Compliance Impact and Reporting:

  • Report on risk and compliance activities at agreed intervals to senior management.
  • Collaborate with line managers to implement risk controls and compliance measures in their respective areas.
  • Collate integrated risk and compliance reports for the unit.

Desired Skills and Experience:

Minimum Requirements:

  • NQF Level 8 in Risk Management, Audit, or related fields.
  • Enterprise Risk Management Certified Professional (ERMCP) or equivalent certification.
  • 10 years of experience in risk and compliance roles, with at least 5 years at a managerial level, preferably in the public sector.
  • Thorough understanding of ISO 31000 and the COSO Framework.
  • In-depth knowledge of Risk Management Process design, development, and maintenance.
  • Experience in Crisis Management, Business Continuity Planning, and Risk-Based Auditing.
  • Comprehensive knowledge of the Public Finance Management Act (PFMA) and Public Sector Compliance Management.

Preferred Qualifications:

  • NQF Level 9 in Risk Management, Law (LLB), Audit, or related fields.
  • 15 years of experience, including 10 years in management within public procurement.
  • Advanced proficiency in the Microsoft Office Suite.

Key Competencies:

  • Strong strategic and visionary leadership.
  • Project Management skills.
  • Exceptional interpersonal and communication skills.
  • Data analysis and report presentation abilities.
  • Goal-oriented with an ability to manage stakeholders and influence decisions.
  • Familiarity with systems, IT processes, and business operational frameworks.
  • Strong people management and team leadership capabilities.

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