Job Description

My client a large, well established insurer is looking for a dynamic and energetic individual to fill the Risk and Compliance Officer position in the Risk and Compliance Department.A specialist with a high attention to detail and who has the ability to ensure FAIS and FICA compliance is met. Someone who fully understands the Financial Services Industry, as well as the processes within an FSP environment. The ideal candidate will also have excellent verbal and written communications skills and the ability to provide feedback and coaching where needed.JOB PURPOSE
The incumbent will be primarily responsible for the development and monitoring implementation of business risk and compliance framework as well as provide assurance on industry and regulatory compliance programs in line with prevailing legislative environment governing the financial sector in insurance.REQUIREMENTS
xe2x9cx93 Degree in Law
xe2x9cx93 Certified Anti Money Laundering Specialist (CAMS) will be an added advantage
xe2x9cx93 2-5 years compliance-related experience
xe2x9cx93 Experience in the insurance and financial services industry (preferred)OPERATIONAL GOVERNANCE
xe2x9cx93 Assist with the operational implementation of the Group Governance Framework.
xe2x9cx93 Draft and review operational governance policies.
xe2x9cx93 Manage operational governance processes, e.g. drafting and updating of delegation of authority.KNOWLEDGE
xe2x9cx93 Knowledge and understanding of legal principles and ability to interpret legislation.
xe2x9cx93 In depth knowledge of the requirements, implementation, and application of FAIS, FICA, TCF, PoPIA.
xe2x9cx93 Knowledge and understanding of compliance risk management principles.
xe2x9cx93 Knowledge and understanding of the Financial Services Industry.
xe2x9cx93 Knowledge of other legislation applicable to the business, e.g. Collective Investment Schemes Control Act, Companies Act, employment law.COMPETENCIES REQUIRED
xe2x9cx93 Strong interpersonal, facilitation and presentation skills
xe2x9cx93 Self-driven
xe2x9cx93 Upholding standards
xe2x9cx93 Stakeholder management
xe2x9cx93 Cross-functional collaboration
xe2x9cx93 Strong analysis, planning and organizational skills
xe2x9cx93 Computer literacy
xe2x9cx93 Meticulous and ability to work accurately under pressure
xe2x9cx93 Ability to apply self-confidence and self-regulation
xe2x9cx93 Trustworthiness and conscientiousness by taking responsibility for personal performance
xe2x9cx93 Loyalty toward the organisation
xe2x9cx93 Commitment by aligning with organisational goals
xe2x9cx93 Ability to be assertive
xe2x9cx93 Attention to detail
xe2x9cx93 Controlled decision-making process
xe2x9cx93 Confidentiality and time management / prioritising
xe2x9cx93 Planning and scheduling workability to manage projects and processes
xe2x9cx93 Listening and organising ability to understand, organise, analyse, and respond appropriately
xe2x9cx93 Communication skills by remaining professional and applying effective communication in all areas
xe2x9cx93 Flexibility relating to work dealings, assist when required even if its not in your job description
xe2x9cx93 Enthusiasm for learning and self-improvement
xe2x9cx93 Be able to work accurately and effectively in a highly pressurised environment
xe2x9cx93 Accountability and a team player
xe2x9cx93 Meeting the competence, qualifications, and experience requirements to be registered as a Compliance Officer with the Financial Sector Conduct Authority would be advantageous
xe2x9cx93 3-6 years experience as a Compliance Officer in the Financial Services Industry
xe2x9cx93 A thorough understanding and knowledge of compliance risk management and monitoring programmes
xe2x9cx93 A thorough understanding and knowledge of the regulatory requirements impacting on the various businesses (e.g. FAIS, FICA, LTIA, PPR, POPIA)
xe2x9cx93 Degree in Compliance / Legal or a similar field
xe2x9cx93 Ability to learn and adapt
xe2x9cx93 Analytical skills and the ability to work in a methodical and organized manner
xe2x9cx93 Proactive and resourceful and takes initiative.DUTIES AND RESPONSIBILITIES
xe2x9cx93 Establishing, implementing, and maintaining a regulatory compliance management framework and function within the business in accordance with the overall risk management framework and group and licence holder requirements.
xe2x9cx93 Creation of compliance risk management plans and the monitoring of compliance in terms thereof.
xe2x9cx93 Management of compliance functions within the various regions of the business, where applicable, and external compliance providers.
xe2x9cx93 Assisting business in creating processes to mitigate the identified compliance risks within the business.
xe2x9cx93 Conduct SOPs conformance testing on all SOPs relating to prevailing legislation and processes and track management actions developed to address issues identified.
xe2x9cx93 Drafting and implementation of compliance policies.
xe2x9cx93 Training of employees on compliance policies and legislation, including the drafting of training material.
xe2x9cx93 Addressing compliance related queries from within the business.
xe2x9cx93 Creating a compliance culture within the business.
xe2x9cx93 Reporting to management, the stakeholder, and the relevant regulators on compliance on the business.
xe2x9cx93 Advising business on regulatory changes which may impact compliance management within the business.
xe2x9cx93 Establishing and maintaining relationships with regulators and other internal and external stakeholders.
xe2x9cx93 Complaint investigation and management.
xe2x9cx93 Enable the business to acquire new business within the legislative and operational framework.
xe2x9cx93 Ensure the reporting of cash transactions and suspicious transactions on a timely basis to the MD.
xe2x9cx93 Maintaining an ongoing profile of key risks and emerging trends across the business.
xe2x9cx93 Monitor and keep up to date with risk management, compliance, and legislative developments domestically and internationally.
xe2x9cx93 Maintain the operational Risk Register and track management actions. Collate and report risk events and corrective action taken.
xe2x9cx93 Implement the Legal Risk Management Programme and monitor all legal affairs with the business.
xe2x9cx93 Maintain awareness of regulatory framework and specific obligations within Financial Advisory and Intermediary Services (FAIS) Act, code of conduct, and requirements.
xe2x9cx93 Consult on an on-going basis with Operational managers to ensure conformance with applicable laws and regulations.
xe2x9cx93 Manage, oversee and monitor Financial Advisory and Intermediary Services (FAIS) compliance to ensure that representatives comply with all financial soundness requirements, licence conditions and annual levies.
xe2x9cx93 Perform statistical sampling and monitoring.
xe2x9cx93 Maintain register of representatives and informs Registrar of any changes.
xe2x9cx93 Responsible for the control of the Anti-Money Laundering and Anti-Money Laundering Foreign Account Tax Compliance Act (FATCA) regulations.
xe2x9cx93 Analyse received documents and interact with the Office Manager to advise if received documents are acceptable.
xe2x9cx93 Responsibility includes monitoring and validation of investor files, technical and documentary support to investor teams, updating of operational procedures and participation in compliance committees.
xe2x9cx93 Identify potential areas of compliance vulnerability and risk, develop, and implement corrective action plans for resolution of problematic issues, and provide general guidance on how to avoid or deal with similar situations in the future.
xe2x9cx93 Provide Compliance reports to Management so as to mitigate risk and assess success.
xe2x9cx93 Ensure effective risk management and internal control for area of responsibility.
xe2x9cx93 Administrative duties related to the above.***Please note only shortlisted candidates will be contacted***

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