This is a new role perpetuated by a growing focus being placed on compliance because of increased proliferation of regulations and legislation, and the obligation for heightened observance of prescribed and ever evolving corporate governance practices.

This is a position that requires an individual with a working knowledge of corporate risk management and knowledge of the Medical Aid Regulatory Environment. The successful candidate will exercise a delegated advisory oversight, monitoring and reporting role on all legal, compliance and regulatory matters pertaining to Bankmed as a closed medical scheme operating within the applicable regulatory environment. Key Responsibilities will include:

  • Monitor proposed changes in the regulatory environment and make recommendations on how to respond to potential changes.
  • Liaise with outsourced providers of legal services on an ongoing basis. Use this information to advise all Bankmed teams on regulatory obligations.
  • Measure and manage regulatory and enterprise risks, and to ensure that the required tasks, processes, and internal controls have been established to effectively monitor and mitigate such risks.
  • Ensure that the governance principles, practices, and procedures necessary to ensure sound corporate governance are in-place at Bankmed and are operating effectively.
  • Foster collaborative relationships with internal and external constituencies, for example the Council for Medical Schemes and other regulatory and industry bodies to promote the strategic and operational objectives of the Scheme.
  • Review all supplier contracts to ensure that these contracts are legally sound and aligned with the relevant outsourcing agreement (or SLA) and the rules of Bankmed to ensure enforceability.
  • Oversee/manage the Schemes IT Governance function and report on the IT Governance function to the Finance and Risk Executive and the Bankmed Audit Committee.
  • Oversee the Schemes compliance with the POPIA Act and establish information management governance policies and procedures that are aligned to regulatory provisions and corporate governance best practices.

Desired Skills:

  • Medical Aid Regulatory Environment knowwledge
  • Knowledge of risk management
  • Combined Assurance models
  • King IV
  • Corporate Ethics
  • Company Secretariat knowledge
  • IT Governance
  • POPIA Act
  • Professional/legal writing
  • Stakeholder Management skills
  • Negotiation & Diplomacy skills

Desired Work Experience:

  • 2 to 5 years [other] Medical
  • 2 to 5 years Risk Management

Desired Qualification Level:

  • Degree

About The Employer:

Bankmed is one of the oldest and largest restricted medical schemes in South Africa registered under the medical Schemes Act 131 of 1998. Bankmed provides healthcare funding to about 35 financial institutions including three of the five largest banking groups.

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