Job Purpose

• Responsible for the oversight of the key activities of the Compliance function. This entails the leadership and guidance of the compliance team and the organisation as a whole, to ensure statutory compliance with all the regulatory requirements and internal policies, through providing advisory governance and monitoring services.

Responsibilities

Regulatory & Compliance Management

• Help design and implement a compliance program, liaising with the regulator to ensure the program adheres to regulatory and compliance standards. This may also or alternatively involve supervising the activities of a regulatory/compliance team.
• Act as compliance advisor and SME.
• Design and implement a compliance program, liaising
• with the regulator to ensure the program adheres to
• regulatory and compliance standards.
• Proactively analyse new upcoming regulatory changes to identify risk and opportunities.
• Drive the development and implementation of the compliance risk management and monitoring plan. Plan ongoing compliance activities and output.

Regulatory Affairs

• Take responsibility for providing specific elements of the regulatory affairs service with guidance from senior colleagues.
• Manage relationships with the various regulators in order to manage associated risk. Reporting on the compliance status of the Group externally to the regulator on a monthly, quarterly and annual basis with the oversight and guidance from the Senior Compliance Manager.
• Implement initiatives that promote a compliance culture and enhances customer outcomes.

Compliance Monitoring

• Plan and manage the delivery of various compliance activities throughout the organisation, ensuring that it addresses identified risk areas,  ensuring that the level of compliance intervention is commensurate with business and compliance risk and that key areas of risk are identified and prioritised. Identify organisation-wide issues, proposing appropriate business process or system improvements. Ensure that relevant Senior Compliance Management is informed of significant issues and the actions being taken to resolve these.

Insights and Reporting

• Contribute to the design and creation of reporting strategies and templates. Lead execution of complex reports, identifying and interpreting complex patterns and trends, and translating those insights into actionable recommendations.
• Ensure group compliance with relevant
• legislation through ongoing analysis and reporting.
• Report on the compliance status of the Group internally to the General Manager, Executive Heads, Group Chiefs and key individuals on a monthly, quarterly and annual basis. Drive the utilisation of the various compliance systems to enhance reporting.

Information and Business Advice

• Provide specialist advice on the interpretation and application of policies and procedures, resolving queries and issues and referring very complex or contentious issues to others.
• Provide compliance advice and solutions to business and compliance monitoring officers proactively and onrequest.
• Involvement in various organisational projects such as new product development, new business partnerships, new compliance developments and business forums.

Leadership and Direction

• Communicate the local action plan; explain how this relates to the function’s strategy and action plan and the broader organisation’s mission and vision; motivate people to achieve local business goals.

Stakeholder Engagement

• Identify and manage stakeholders up to management level, finding out their needs/issues/concerns and reacting to these by leading and coordinating the development of stakeholder engagement plans to support the communication of business information and decisions.
• Build relationships with various internal and external stakeholders. Keep all stakeholders informed of regulatory requirements, changes and deadlines.

Performance Management

• Develop and propose own performance objectives; take appropriate actions to ensure achievement of agreed objectives, using the organisation’s performance management systems to improve personal performance.  Manage and report on team performance; set appropriate performance objectives for direct reports or project / account team members and hold them accountable for achieving these, taking appropriate corrective action where necessary to ensure the achievement of team / personal objectives.

Compliance Management System

• Identify, analyse, and evaluate the effectiveness of current policies and business processes that are in scope of the Compliance Management System; contribute to the design of the CMS; provide specialist compliance management oversight to the drafting of new policies and procedures and design of business processes; contribute to the quantification of the costs and business benefits of change.
• Drafting, drawing and vetting of commercial agreements.
• Manage and maintain an effective compliance system.

Policy Development & Implementation

• Help develop procedures for an area of the organisation, and monitor their implementation.
• Drive an awareness of these policies and procedures and ensure training is undertaken throughout the organisation on an ongoing basis.

Contract Requirements

• Identify contract requirements and write specifications for a small portfolio or area of the business for existing contracts and/or new contracts.
• Ensure contracts meet all compliance requirements and
• where required, notifications have been actioned.
• Identify trends, summarise findings, and give feedback on existing contract requirements, and provide input to ensure compliance in contract processes.

Improvement / Innovation

• Identify shortcomings in existing business practices, then suggest and implement improvements while developing and delivering projects or a work stream within the organisation’s change management program. Involves working with guidance from senior colleagues.
• Identify measures to create efficiencies for compliance, monitoring and reporting.

Organisational Capability Building

• Use the organisation’s formal development framework to identify the team’s individual development needs. Plan and implement actions to build their capabilities. Provide training or coaching to others throughout the organisation in own area of expertise to enable others to improve performance and fulfill personal potential.

Education

• Grade 12/ SAQA Accredited Equivalent (Essential); BProc/LLB Degree or other equivalent degree (Essential); Registration as Compliance Officer with the FSCA (Essential); Registration with the Compliance Institute (Advantageous); Diploma in Compliance Management (Advantageous); Admitted Advocate/Attorney (Advantageous)

Experience

• 5 or more years’ compliance governance and risk management experience in the Insurance and Financial Industry (Essential). Managerial Experience 1-2 years’ experience of planning, managing and organizing resources within short / medium timescales within the overall policy framework (Essential)