Risk and Compliance Department

The risk and compliance department consists of 3 divisions, namely: Risk and Internal Audit; Forensics Services; as well as Legal, Compliance and Governance.

  1. Risk and Internal audit:

    The role of the Group Risk Management function is to facilitate risk management ownership by management; provide a standardised strategic and operational risk management methodology and process; as well as to validate that the risk management processes are adequate and effective and comply with generally accepted risk management standards.

    The function is also responsible for the co-ordination and facilitation of specialised operational risk management processes, such as the Business continuity management (including researching best practices, formulating business continuity programmes, designing the structures for SA Home Loans business continuity, conducting presentations and workshops for business continuity, liaising with various departments that have business continuity duties to ensure all requirements are met and assisting various departments in drafting business continuity plans).

    They also report on these risk management activities to various Board Committees and Management.

  2. Internal Audit and Forensics service function

    The internal audit and forensics service division consist of the following two teams:

    Internal Auditing team:

    The role of internal audit function is to provide independent assurance to the Audit, Risk and Compliance Committee (ARCC) as well as the SAHL management that the organization’s risk management, governance and internal control processes are operating effectively.

    To achieve this, they perform an objective assessment of the effectiveness of risk management and internal control framework, and systematically analyze and evaluate business processes and associated controls.

    Forensics Service team

    The role of the forensics team is to perform fraud investigations where there is suspected fraud and take the appropriate legal and/or corrective actions.

    They are also responsible for fraud prevention, and fraud awareness (ongoing education of staff in the fight against fraud)

  3. Legal, Compliance and Governance:

    The legal and compliance division consist of the following three functions:

    Legal

    This team is responsible for:

    • providing advice to the business on legal matters,
    • contractual review (detailed review of the contracts presented is undertaken, and any contentious issues are communicated to the relevant department for negotiation with the contractor)

    Statutory Compliance

    This team is responsible for:

    • Ensuring that the Group fully complies with all relevant/applicable legislation.
    • reviewing relevant existing legislation to ensure that the Group complies with all applicable provisions of such legislation.
    • reviewing all new draft legislation to determine applicability to the business of any of the entities in the Group, and to identify areas which may be impacted by the proposed legislation.

    Company Secretarial and Governance

    This team is responsible for the administration of appointments to the various Boards of Directors, changes to Company and Trust documentation, share transactions, and ensuring that the directors are armed with sufficient information on legal and governance matters to ensure that they are adequately informed.

    The members of this team are also responsible for taking minutes at the various Board and Board Sub-committee meetings and maintaining the statutory registers, resolution books and minute books in respect of each company.