POSITION TITLE: Compliance Officer
DEPARTMENT: Legal & Compliance
ACCOUNTABLE TO: Executive Head: Legal & Compliance
INDUSTRY: Financial Services
JOB DESCRIPTION:
The job will involve the on-going monitoring of compliance procedures and controls, together with the development/enhancement thereof. The individual will be responsible for assisting the Head of Legal, Compliance and Company Secretariat by conducting compliance audits, investigations, quarterly compliance reports and monitoring FAIS Fit and Proper requirements through a shared services compliance function for the division.
DUTIES / KEY RESPONSIBILITIES:
COMPLIANCE
- Support to the Head of Legal, Compliance and Company Secretariat
- Guidance and support to all FSPs and business areas
- Completion of monthly/quarterly compliance reviews/audits
- Implementing and managing monitoring functions
- Reports to management, executive committee, and board
- Business regulatory risk monitoring
- Maintenance of Regulatory Universe
- Ensure that a sound regulatory compliance framework and environment is maintained, by means of implementing and maintaining suitable policies, processes, and monitoring frameworks
- Remain abreast of changes to legislation
- Engage the FSPs on changes or requirements in applicable primary legislation. Propose solutions that are efficient and effective, given business and environmental factors
- Provide commentary on impending legislation, and understand how it pertains to the FSPs
- Investigate, track resolution and report compliance breaches
- Maintaining of the competence register and representative registers for each FSP
- Attend to profile changes in respect of each FSP
- Identifying possible compliance risks
- Prepare annual compliance reports to FSCA
- Assist in drafting and maintaining the Company’s compliance related policies (examples: CPD, COI, debarment, TCF, POPI)
- Sensitivity - Confidential
- Drafting and maintaining Risk Management Compliance Plans for FICA in respect of each FSP
- Maintain copies of insurance (PI cover) and documentation for the FSPs
- Attend to the renewal of insurance policies
- Ensure that the FSPs maintain the required levels of PI/IGF cover as per the legislative requirements
- Compliance reviews of scripts, websites, products, marketing material etc.
- Focus on TCF, POPI, CPA, FAIS, FICA, and Insurance legislation
COMPLAINTS MANAGEMENT AND SPECIAL INVESTIGATIONS
Perform special investigations as required based on:
- Monthly audit results (statistics)
- Follow-up on problematic areas identified during monthly and quarterly audits
- Assist management where required in complaint resolutions/investigations
- Attend to Regulator and Ombud complaints
- Assistance with ad hoc complaints investigations
- Review of complaints management policy
TRAINING AND ACCREDITATION MANAGEMENT
- Compliance training and follow-up on key issues
- Refresher training and audits
- Ensure CPD; COB; Product training and regulatory training is completed by the required people
- Prepare ad hoc compliance presentations for business
EDUCATION:
Minimum Grade 12 / Matric
RE1, RE5
CISA associate membership (advantageous)
FSCA Category 1 Approved Compliance Officer
Applicable degree and compliance experience in:
- Insurance/Risk
- Legal
- Compliance
EXPERIENCE, KNOWLEDGE, AND SKILLS REQUIRED:
- Call Centre Compliance experience
- Financial services background incl. direct exposure to financial legislation
- Minimum of 3 years’ compliance experience within Financial Services or Insurance
- Experience or knowledge in Compliance with a focus on TCF, POPI, CPA, FAIS, FICA and Insurance legislation
- Interpersonal skills and strong character
OTHER REQUIREMENTS:
- Solutions driven
- Attention to detail
- Energetic
- Ability to work under pressure
- Team player
- Accuracy
