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The Evolution Of Compliance In The Banking Sector

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Lindelwe Zwane, the Managing Executive: Compliance at Absa Corporate and Investment Banking says the role of compliance in the financial services sector has changed significantly over the years. Compliance has and continues to evolve to meet the ever increasing demands and complexity of financial regulation, she says.

“Compliance has to evolve from traditional methods of managing compliance towards integrated risk management using automation to leapfrog compliance from gatekeeper to game changer.

“To meet the demands of a rapidly changing financial services industry, the compliance function has to shift its focus by using data insights to inform decision making and creating value for the business,” she says.

READ MORE | People And Culture In The Workplace

She says there has been an increase in the use of robotics process automation and predictive analytics for risk assessment, monitoring and testing, complaints management, surveillance and regulatory reporting.  “This creates efficiency and saves costs in the long run,” Zwane says.

Zwane, who assumed her position in 2017 has a big task ahead of her.

“As the CIB Chief Compliance Officer, I am primarily responsible for overseeing the Compliance Programme for CIB globally to ensure compliance with regulatory requirements and policies of the bank. I am also responsible for safeguarding the reputation of the bank and driving culture change within the organisation,” she explains.

READ MORE | The Laws Of Impactful Banking

A qualified lawyer with 18 years post qualification experience, Zwane has worked in various roles in the industry including as a Legal Manager at Deloitte and as Senior Legal Counsel for Deutsche Bank in South Africa. She joined Absa in 2015.

She describes her rise in the corporate world as a journey of self-discovery and reinventing herself through learning. “This has helped me shift my mind-set and opened up new growth opportunities and challenges,” says Zwane, who leads a team of 30 professionals in her division.

She agrees that finding a perfect balance between work, personal and family life is always important, and this she achieves by being 100% present.

“Wendy Tan in her book Wholeness in a Disruptive World (2017) says balancing is not a 50:50 compromise. Its 100:100 over time. We need to be, think and act whole to do our best at work. This means that work life balance does not have to be a zero sum game,” Zwane says.

She handles pressure by staying focused on the goals to be accomplished and asking for help if she needs it.

Scanning the future, Zwane says in the next five to 10 years, she would like to be in a role where she can continually deepen and diversify her skills to become an enterprise leader. What is her advice to young, upcoming women professionals?  “Lift as you rise. We need women to invest in women,” she says.

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BOSS X Meissen Capsule Collection Inspired by The Big Five

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Johannesburg, 6 December 2019. BOSS celebrated its holiday capsule with an exclusive event on the 4th of December in Johannesburg.

Two internationally recognized German brands BOSS and Meissen came together for the first time. Inspired by Meissen’s celebrated Big Five figurines, a groundbreaking new collaboration united the two brands’ shared passions for quality, design and creativity.

The Big Five collection, designed by sculptor Maximilian Hagstotz, features the African lion, leopard, elephant, rhino and buffalo, each decorated with a monochrome pattern placed to emphasize the animal’s characteristic traits.

These majestic creatures, depicted in an angular style inspired by traditional African wooden sculptures, are the starting point for a unique capsule collection of BOSS Menswear and Womenswear.  The fashion capsule collection includes both casual and formal pieces for men and women, all in a monochrome palette of black and white.

To honor this special capsule and collaboration, BOSS and a local franchise partner SURTEE Group hosted an exclusive dinner just in time for the holiday season, with a special guest in attendance – the founder of Elephants for Africa organization Dr Kate Evans.

Guests, dressed in black and white, were greeted by a life-sized white Meissen elephant statue with elegant black and white canapés and black martinis awaiting them. The sophisticated evening had everything from the food, to the décor, drinks and dress code following the monochromatic theme. The charismatic Mark Bayley and former Miss South Africa Jo-Ann Strauss kept VIP guests entertained as co-hosts.

The evening culminated with a private performance by South Africa’s much loved Mi Casa. 

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Business Veteran Scoops Top Vision 2030 Award

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Business veteran and Group CEO of ITHUBA Holdings, Charmaine Mabuza has scooped the Top Woman in Education Award at the Vision 2030 Awards recently held in Emperors Palace, Gauteng.

This award recognizes Mabuza for her contribution in the South African education sector through the Eric and Charmaine Mabuza Scholarship Foundation.

The Foundation, established in 1999 by Mpumalanga business veterans, Advocate Eric and Charmaine Mabuza initially supported young and talented matriculants in the Mpumalanga region to further their tertiary studies. Since then, the Foundation’s reach has expanded throughout South Africa, producing Doctors, Accountants, Engineers, Quantity Surveyors and many more.

Commenting on the award, Mabuza said: “This award represents many years of hard work and determination towards the advancement of equal access to quality education for all South Africans. The mission of the scholarship foundation is to eradicate poverty through education, particularly in previously marginalized communities. As corporate leaders, we know that there is still a lot to be done, but we are ready and willing to do our part. We look forward to another decade of serving the nation”.

One of the beneficiaries of the Scholarship Foundation, Dr. Kate Lusiki who now works at the Rob Ferreira Hospital expressed her gratitude: “Since I started working, I have been able to renovate my mother’s house. I am currently staying with my older sister whom I am putting through college so that she too can also have a solid educational structure. I am able to do these things for my family because the Advocate and Mrs Mabuza afforded me an opportunity to education. This Foundation to me, has been like a better life handed to me on a silver platter, and for that I am eternally grateful.”

The 2020 Scholarship programme will launch with the new intake of students on 12 January with a week-long programme at the ITHUBA offices in Sandton.

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The Re-Awakening Of Some Of The Rarest Whiskies In The World: Johnnie Walker Blue Label Ghost And Rare Glenury Royal

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The season just got a bit more sensational for whisky connoisseurs, as Johnnie Walker releases the third installment in its ‘ghost’ series, with the remarkably rare and limited edition, Johnnie Walker Blue Label Ghost and Rare Glenury Royal.

This exceptional blend with bewildering layers of depth highlights, notes of candied fruits, spices and unrivaled smokiness. At the heart is the Glenury Royal whisky – the perfect gift to that whisky collector or whisky afficionado.

Ghost and Rare remains in dwindling supply since the shutdown of its birthplace, the iconic Highland distillery, Glenury Royal in 1985. Each bottle is handcrafted in small batches by the combined expertise of a small team of passionate blenders led by master blender Jim Beveridge,the sixth in an unbroken line of master blenders stretching back almost 200 years.

Ghost and Rare is complexly layered with the sweetness of honey and elegant smoke for a long and lingering incomparable finish. With only 1,600 uniquely numbered bottles in Nigeria and only 60,000 bottles made globally, this is a whisky that few others will ever get to taste.  

As one of the most sought-after whiskies in the world, Ghost and Rare is a perfect Christmas gift to appreciate a loved one or a discerning drinker who continues to walk with you.

Enjoy Johnnie Walker responsibly. Not for persons below 18 years

Content provided by Johnnie Walker

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