Job Description

• The purpose of this role is to provide sound advice to FSPs, representatives and key individuals regarding legislation, regulation, industry standards, codes, guidelines and best practice protocols through compliance risk management principles, policies, processes and procedures.

Job Responsibilities may include but are not limited to:

• Advise management on implementing and maintaining an appropriate compliance framework which meets the compliance-related objectives of the business.
• Identify training and awareness needs.
• Build, develop and maintain strong cross-functional relationships with the key internal and external stakeholders to assess and anticipate emerging risk areas that involves the operations of key individuals, representatives, juristic representatives.
• Advising, representatives, juristic representatives and key individuals on suitable control frameworks to implement regulatory obligations.
• Providing guidance into business processes, procedures and systems.
• Keep abreast of regulatory developments and changes in the financial services industry, with particular focus on FAIS and all subordinated legislation.
• Conduct onsite visits at key individuals, representatives and juristic representative offices to perform the following:
• Client files reviews
• Office assessment looking at compliance operational processes and POPIA requirements.
• Presentation on compliance updates i.e. Regulatory updates, compliance exposures, complaints, regulatory deadlines.
• Establish appropriate mechanisms to ensure effective oversight to:
• coordinate and drive compliance in the Distribution channel and assist management to implement or review compliance structures that will encourage a compliance culture.
• monitor and enforce effective control, governance and compliance standards.
• engage with key individuals, representatives, juristic representatives and franchises on any incidents and exposures and ensuring that these are dealt with in line with regulatory requirements.
• ensure policies, standards and frameworks are appropriate for the business.
• support the implementation of appropriate monitoring of compliance with regulatory requirements.
• provide comprehensive reports and feedback to senior management.
• Managing regulatory changes:
• analyse changes and evaluate the impact on business and communicate to business.
• providing guidance and support to business on the implementation of new and amended regulatory requirements.
• ensure timeous implementation of new and amended regulatory requirements.
• engage with business to draft comments on proposed legislation and amendments to Regulation.
• Manage ad hoc projects as may reasonably be assigned by management in line with regulatory and business needs.

Work Experience

• 2 years’ of working experience in a financial services compliance role

Education

• Relevant tertiary education
• Member of CISA, FPI would be advantageous.

Skills

• Knowledge of local (South African) legislation relating to financial services and able to interpret and apply legislation, including, but not limited to the following: FAIS, Protection of Personal Information Act, Insurance Act.
• Understanding of Compliance methodology, working knowledge of all elements comprising.
• Efficient time management skills, including quick turnaround time on quality work.
• Problem solving skills and conflict-management of situations in a constructive and professional manner.
• Ability to make rational judgements from the available information and analysis and provide considered and consistent advice.
• Communication, reporting and presentation skills.
• Ability to work as a team, understand the impact of decisions and be confident enough to raise concerns within the team and to senior management.
• Research ability and attention to detail.
• Detailed expertise in the operation and governance requirements of FSPs.
• Develop an effective network with business representatives and to build the necessary trust relationship with business representatives.
• Writes in a well-structured and logical way – must have ability to write and review compliance policies and draft compliance guidance notes and reports with detail required to inform the business of regulatory requirements and potential impacts.
• Able to work well under pressure.
• Efficient time management skills, including quick turnaround time on quality work.