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.