Introduction
Join the Compliance department of this well-established financial services provider and take your career to greater heights!
Duties & Responsibilities
? Drive a compliance culture that focuses on proactively establishing a compliance advisory support functionality that provides technically sound and mature compliance advice at all levels.
? Work hand in hand with management and staff to identify and manage regulatory risk.
? Maintain open lines of communication by, confidently and maturely, engaging with all relevant decision makers, the FAIS regulator, internal stakeholders, and keeping all parties informed of regulatory changes.
? Review policies, provide technical support and act as a professional sounding board, in so doing, providing comfort and assurance to Head of Compliance, Executives, Project Steering Committees, and Product Development forums.
? Assisting the Head of Compliance in discharging their obligations in terms of regulatory requirements.
? Be in collaboration with business, identify, coordinate and implement applicable regulatory requirements within the Society and provide assurance that the Compliance Risk Management process is implemented across the Society.
? Guide business through regulatory change by interpreting regulatory rules, guidance and practice notes issued by the authorities.
? Identify the impact of change and work with the procedures and process owners to implement change in a manner that minimises the effect on “business as usual” activities.
? Review and manager all the existing compliance controls to ensure that current controls address all current regulatory information and business requirements.
? Develop compliance related policies, risk management plans, assessing and quantifying risks, implementing procedures and controls to mitigate risks.
? Sign-off on the work, especially the audits, of the compliance practitioners with a particular focus on the quality of work produced by the department, this may include monitoring and reviewing the compliance output and provide training if required.
? Draft and compile the Group compliance coverage plan in line with identified regulatory risks.
? Assess the overall testing coverage on regulatory risk for the business and address deficiencies.
? Evaluate risks specifically related to non-compliance with legislation and policy.
? Appropriately and assertively adding value to the Combined Assurance Model and interact, with the other Control Function team-members (i.e. Actuarial, Internal Audit & Risk);
? Provide regulatory awareness through a regulatory training awareness programme.
? Review the coverage plan, the scope of each review, and conclusions and final report of each review.
? Identify, manage and monitor compliance obligations and risks, as well as reporting, interacting with regulators, industry bodies and internal clients in relation to key legislation.
? Evaluate findings to establish possible contraventions and report contravention of legislation to management, Exco, and the Head of Compliance.
? Drive the resolution and follow up on remedial actions required to mitigate and manage compliance risks identified in the course of compliance reviews and, report and escalate failures to implement.
? Deliver effective solutions that will enable the business to achieve their growth objectives within the regulatory framework.
? Participate in the Compliance approval of products, projects and initiatives where required.
? Ensure commercially sound compliance advice, guidance and support for implementation of relevant regulatory requirements.
? Support stakeholders by providing well researched compliance opinions and articles.
? Establish objectives and critical performance areas as well as management control and development of members of the department.
? Provide mentorship and training as and when required to members of the department.
Desired Experience & Qualification
QUALIFICATION REQUIREMENTS FOR THIS POSITION:
? Compliance Degree or similar.
? Post Graduate Diploma in Compliance.
? Regulatory Examination 1.
EXPERIENCE AND KNOWLEDGE REQUIRED FOR THE POSITION:
? 8 Years’ experience in the financial services sector, especially in long-term insurance.
? Approved Compliance officer in terms of section 17 of the FAIS Act and Board Notices.
? 8 Years post qualification legal experience of which at least 4 years should be in senior specialist role.
? 8 Years’ experience in mitigating risk and compliance.
? Comply with the same requirements determined by the Registrar under section 8(1)(a) of the FAIS Act.
Package & Remuneration
R790 000 to R890 000 p.a.
Desired Skills:
- Compliance
- senior compliance officer
- insurance
Desired Work Experience:
- 5 to 10 years
Desired Qualification Level:
- Degree