Business Unit: Discovery Central Services
Function: Compliance
Date: 4 Sep 2024
Discovery Group Compliance
Centre of Excellence
Compliance Officer- Governance Reporting
About Discovery
Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.
Key Purpose
The FAIS Centre of Excellence is a compliance function within Group Compliance that provides compliance oversight and advice to Discovery FSPs, Key Individuals, and Representatives. The purpose of this role is to be responsible for drafting and completion of all FSP reporting obligations, facilitating all FAIS-related regulatory submissions, and ensuring effective communication channels are maintained with all stakeholders in the business, ensuring that the FSPs follow best practices and the compliance methodology.
Areas of Responsibility
The successful candidate will be required, primarily, but not limited to:
- Keep abreast of regulatory developments and changes in the financial services industry, with particular focus on FAIS and all subordinated legislation.
- Maintain the regulatory universe for the business.
- Provide comprehensive feedback to senior management and committees.
- Draft all FSP reports to various committees.
- Draft all reports to the regulator and/or industry bodies and obtain sign-off.
- Ensure that all reports are submitted timeously to the various committees.
- Update and maintain the incidents (breaches and exposures) register, communicate to the relevant compliance officers on the status of the incidents, and track implementation.
- Compile the monthly non-compliance report to senior management.
- Draft the OMNI Conduct of Business Return and submit to the regulator.
- Design, review, and sign-off compliance reports as required.
- Facilitate meeting interactions with the relevant business stakeholders and the regulatory and/or industry bodies.
- Ensure that questionnaires and surveys are completed timeously by the FSPs.
- Provide support on projects such as new business initiatives and third-party interactions as required.
Skills and Personal Attributes
- Detailed 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, POPIA, Insurance Act.
- Sound understanding of compliance methodology.
- Problem-solving skills and conflict-management in a constructive and professional manner.
- Ability to make rational judgments from available information and analysis and provide considered and consistent advice.
- Strong communication, reporting, and presentation skills.
- Ability to work as a team, understand the impact of decisions, and confidently raise concerns within the team and to senior management.
- Strong research ability and attention to detail.
- Detailed and technical expertise in the operation and governance requirements of FSPs.
- Ability to develop an effective network with business representatives and build necessary trust relationships.
- 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.
Education and Experience
- 3 years of working experience in a financial services compliance role in the application of FAIS within the FSPs as well as thorough understanding of the legislation.
- Relevant tertiary education.
- Recognised compliance qualification from an accredited institution.
- Membership of the Compliance Institute of South Africa or Financial Planning Institute would be advantageous.
Role Specific Behaviours
- Action Oriented
- Ensures accountability
- Communicates effectively
- Drives Results
- Resourcefulness
EMPLOYMENT EQUITY
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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