RESPONSIBILITIES

Regulatory & Compliance Management

• Compliance risk assessment, identification, managing and reporting of regulatory requirements.
• Comment on draft Bills and other draft regulatory requirements.
• Implement compliance risk assessment and compliant risk management and compliant risk management plans for prioritized regulatory requirements.
• Recommended corrective actions – prescribing and escalations.
• Manage regulatory breaches and compliance risk exposures.
• Implementation of requirements arising from new and amended regulatory requirements.
• Contribute to the creation of a compliance culture and compliance awareness in the division by becoming a trusted advisor to the 1st line (whilst maintaining independence of mind as part of 2nd line).
• Execute on all Regulatory Compliance projects (end –end) within set timelines.
• Provide compliance advice, guidance and recommendations to 1st and 2nd line on structuring agreements in terms of various insurance legislation.
• Ensure accurate and timely reporting on any non-compliance, the management of compliance risk, and state of compliance in the division
• Provide advice, guidance, and recommendations to stakeholders on the state of regulatory compliance by reporting on how key risks are being managed, highlighting areas that require immediate attention and recommend corrective action to and by stakeholders.
• Present potential compliance regulatory findings to stakeholders through formal engagement. Take an active part in all Regulatory Compliance governance activities.
• Have a monthly one and one engagement with each of your key stakeholders in 1st and 2nd line (e.g. business, risk team, legal team).
• Assist in filling regulatory reports to the respective regulators, keeping the company in good standing with regulatory bodies.
• Compliance reporting.

EDUCATION                                        

General Education

• Law degree (s) (essential).
• Certificate or Diploma in Compliance Management (advantageous).
• Member of Compliance Institute of South Africa (preferable)

EXPERIENCE                                       

General Experience

• At least 2-3 years’ experience in regulatory and risk management, monitoring compliance and risk management, monitoring and reporting in the Insurance and Financial Industry (essential).
• Financial Services Regulatory environment (Life Insurance).
• Advanced level of knowledge of financial sector laws including the FAIS Act, Insurance Act, LTIA and its relevant regulations, PPR’s, FICA, POPIA, National Credit Act, and the Companies Act.