Time left to apply: End Date: November 17, 2024 (4 days left to apply)
Job Requisition ID: R24321
Job Description
To monitor processes and related controls in accordance with compliance methodology and minimum standards and provide support to experienced Regulatory Risk and Compliance professionals that require robust regulatory compliance advice and guidance.
The role purpose is to assist the Head of Compliance in advising, guiding, and monitoring compliance with all legislation relevant to the non-banking financial services industry and pension fund administration environment and report on the level of compliance to the respective governance forums.
Requirements
Qualifications:
- Relevant legal qualification
- Member of the Compliance Institute of Southern Africa
- C.Prac (advantageous)
- Risk management (advantageous)
- RE1
- RE5 (advantageous)
- Meet the requirements to be registered with the FSCA and FIC for relevant regulatory roles.
Experience:
- Minimum 5 years’ experience in an end-to-end compliance function with in-depth knowledge of the life insurance (group business), consulting business, and pension fund industry.
- Must have a technical understanding of the Insurance Act and Pension Funds Act, as well as a strong understanding of the Financial Advisory and Intermediary Services Act and Financial Intelligence Centre Act.
Skills and Attributes:
- Ability to identify compliance risks and make recommendations that are appropriate for the business.
- Attention to detail and meticulous accuracy is essential.
- Ability to professionally communicate with various levels of staff and management.
- Ability to explain technical legal requirements to non-legal persons in plain and understandable language.
Duties & Responsibilities
INTERNAL PROCESS:
- Execute compliance activities based on the Compliance Monitoring Plan to provide assurance on the level of regulatory compliance.
- Monitor new regulatory mandates, rules, and requirements; ensure that compliance policies are kept up to date and that revisions are disseminated in a timely manner.
- Design and implement compliance training and educational programmes; actively participate in management training, including new starter induction programmes.
- Provide advice on compliance with applicable laws and regulations to the business to ensure ongoing adherence.
- Assess the possible impact of any regulatory development on the operations of the business and work with the business regarding compliance.
- Conduct compliance monitoring reviews and audits based on the audit schedule and ad hoc requirements as required by the Internal Auditor or business leader.
- Review and monitor completed audits and follow up on any recommendations made.
- Execute the regulatory compliance breach management and follow-up process to address identification, analysis, and resolution processes.
- Provide professional advice and guidance to business regarding compliance matters.
- Contribute to the initiation of critical statutory projects relevant to the business and monitor the appropriate implementation thereof.
- Create awareness within the business regarding new compliance requirements or provide guidance on potential impacts.
- Support business stakeholders in identifying compliance risks or weaknesses.
- Initiate, contribute, and prepare necessary documentation for statutory applications to applicable regulatory bodies.
- Build relationships with internal and external stakeholders as well as the wider compliance community within FNB.
- Provide input from a compliance perspective and act as trusted advisor in business projects and initiatives.
- Deliver compliance reports that highlight compliance activities and instances of non-compliance.
- Initiate and contribute to the review of all critical business policies from a regulatory compliance perspective.
- Identify, assess, manage, monitor, and report on compliance risks faced by the company.
- Execute compliance activities based on the Risk-based compliance plan.
CLIENT SERVICE:
- Build and maintain relationships with internal and external stakeholders.
- Contribute to negotiating objective and realistic service level agreements.
- Deliver on service level agreements made with clients and stakeholders.
- Make recommendations to improve client service and fair treatment of clients.
- Participate and contribute to a culture that builds rewarding relationships and provides exceptional client service.
PEOPLE:
- Build strong relationships through providing specialist know-how and leadership.
- Continuously develop own expertise in terms of industry and subject matter.
- Positively influence and manage change and offer specialist support.
- Contribute to continuous innovation through the development and sharing of new ideas.
- Participate and contribute to a culture of productivity and service delivery.
- Take ownership for driving career development.
FINANCE:
- Contribute to the development of business cases for proposal to decision-making bodies.
- Identify solutions to enhance cost effectiveness and increase operational efficiency.
Job Details
Take note that applications will not be accepted after the indicated date. Kindly submit applications ahead of the closing date.
All appointments will be made in line with FirstRand Group’s Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. Candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless legally required to disclose.
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