Qualification - B Degree/B Tech/Advanced Diploma in
- Commerce/Law/Business Administration at
- NQF7 with 360 credits
- A member of the Compliance Institute Southern Africa/Admitted Attorney
- Professional Registration Body: Compliance Institute Southern Africa (CISA)
- Minimum of 10 years working experience
- Management of a compliance function or compliance specialist position at a financial institution or non-life insurer
Core skills: Leadership and management
Persuasion and interpersonal
Research methodology and analytical
- Report writing and presentation
Computer literate and review system applications
Interact at high level senior management, regulators and the Board
Deliver authoritative solutions to complex challenges in processes
Assess situations, exercise discretion and correct judgement in sensitive matters
- Build networks with high-ranking officers and officials from other insurers and regulators
- Judgement and decision making Negotiation and conflict resolution
- Accurate
- Lateral thinking
- Quality oriented
- Work under pressure
Key Performance Areas (summary of functional outputs): - Oversee compliance.
- Provide compliance reporting.
- Manage stakeholders.
- Manage resources.
Key Customers: The company board of directors and board committees
- The company chief executive officer and senior management
- Regulators
- Heads of control functions actuarial, internal audit and risk management
- The company secretary
- External auditors
- Head of compliance
Oversee compliance - Providing input and recommendations to the board regarding risk management system component operations, efficiency, effectiveness and internal compliance controls relevant to the compliance control function.
- Overseeing the development of an annual compliance work plan reflecting the company's unique characteristics.
- Reviewing the compliance plan as a result of change.
- Overseeing and monitoring legal and regulatory obligations are met, promoting and sustaining a sound compliance culture.
- Overseeing the implementation of the company's risk-based compliance monitoring plan.
- Developing and implementing a compliance policy and framework to oversee compliance in the organisation.
- Advising the board and management regarding compliance related issues.
- Overseeing the company's compliance universe maintenance.
- Overseeing compliance risk management plans (CRMPS) are implemented and updated for relevant parts of legislation.
- Keeping abreast of changes to laws, regulations, and standards and advising board, senior management regarding required changes to policies and procedures.
- Liaising with relevant role players regarding compliance requirements and the impact on business.
- Informing board and senior management regarding relevant new legislation, regulations and standards.
- Communicating and facilitating training to the organisation regarding relevant legislation, policies, procedures, and compliance requirements as determined to ensure compliance.
- Advising on compliance requirements regarding policies, procedures and legal requirements.
- Adjudicating on appeals received from policyholders and claimants regarding insurance claim decisions.
- Investigating and addressing compliance matters.
- Developing policies, programs to encourage managers and employees to report suspected fraud, improprieties without fear of retaliation.
- Providing direction and assurance to the company board, senior management regarding policies and procedures in place are understood, adhered to by employees and the com an is com I in with relevant le al and regulate requirement
Provide compliance reporting - Reporting to the board, relevant committees and stakeholders regarding the compliance status in the company.
- Compiling relevant compliance reports reflecting performance against compliance requirements.
- Reporting in writing to the board or committee reasonable suspicion that financial sector law applicable to the company has or is being contravened.
- Reporting information to the board, relevant committee regarding the function resources and an analysis of resources appropriateness.
- Ensuring applicable statutory reporting obligations from Companies and Intellectual
- Property Commission (CIPC) and Prudential Authority regulators arecomplied with.
- Reviewing and determining information, documentation received from and provided to the regulator is correct and complete.
- Reviewing, completing, signing and submitting relevant applications, notifications to regulators according to regulate requirements.
Manage stakeholders - Attending to engagements with the company's regulators Financial Sector Conduct Authority (FSCA), Prudential Authority etc. during onsite, ad-hoc visits.
- Liaising with regulatory authorities regarding compliance issues
Manage resources - Determining key integrated objectives and business plans for the compliance control function.
- Ensuring organisation strategic objectives are met.
- Directing and managing the compliance control function team performance and development.
- Ensuring compliance with ethics, company values, sound corporate governance principles and adherence to the Public Finance Management Act (PFMA).
- Maintaining sound labour relations.
- Mentoring, coaching and leading the compliance control function team.
