Head: Group Compliance: Group Actuarial

1 month ago

Bellville, South Africa Sanlam Group Full time
Who are we?

Sanlam was established as a life insurance company in South Africa but has since transformed into a diversified financial services group that operates across the African continent, India, Malaysia and selected developed markets, with listings on the Johannesburg, A2X and Namibian stock exchanges. In 2018 the Group celebrated its centenary as well as 20 years since demutualisation and listing in South Africa and Namibia. Sanlam is one of the largest internationally active insurance groups in the world with a presence in 43 countries and has the biggest non-banking financial services footprint on the African continent.

The Group's five business clusters (Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz and Santam) house the Group's business operations. The Group Office provides strategic direction and support to the four clusters, assisting them in realising their strategies and meeting their business objectives. The Group Office is responsible for governance and for the Group's centralised functions, which include: Finance, Actuarial and Risk Management, Strategy, Human Resources, Market Development and Brand Sustainability.

What will you do?

The Head of Group Compliance is a pivotal member of the management team, responsible for overseeing compliance across the organisation. This role ensures adherence to laws, regulatory requirements, policies, and procedures, providing strategic direction and independent assurance to various committees and boards. The focus is on strategic oversight to identify, monitor, and report compliance risks effectively. The role demands a high level integrity and ethical standards, requiring the responsible person to monitor and promote ethical conduct throughout the organisation, ensuring that all employees adhere to established ethical standards, and reporting any breaches appropriately.

What will make you successful in this role?

Compliance Culture and Strategy:
  • Develop, maintain, and promote a robust compliance and ethics culture and strategy for the Sanlam Group in consultation with the Group Executive Committee (Exco).
  • Provide strategic advice on the implementation of the compliance and ethics strategy, offering independent assurance to the Group Risk & Compliance and Group Ethics Committee on compliance matters within the Sanlam Group.
  • Offer compliance advice to all businesses within the Sanlam Group, ensuring independence is maintained.


Compliance Framework and Risk Management:
  • Implement and maintain a regulatory compliance management framework and function for the Sanlam Group, aligned with the overall risk management framework.
  • Oversee the management of compliance functions within various regions of the business and external compliance providers.
  • Assist the business in creating processes to mitigate identified compliance risks ethical breaches.
  • Oversee annual compliance management plans, ensuring alignment with strategic objectives.
  • Assess the business's future ventures to identify and mitigate possible compliance risks and unethical conduct


Policy Development and Training:
  • Implement comprehensive compliance policies and procedures, ensuring they are up-to-date with current regulatory requirements.
  • Review and provide input into the development of relevant policies and procedures.
  • Develop training materials and conduct training sessions for employees on compliance and ethics policies and legislation.
  • Train cross-functional teams on compliance and ethics requirements, fostering a culture of compliance and ethics awareness


Monitoring and Auditing:
  • Oversee and monitor the implementation of the compliance program, ensuring its effectiveness in identifying, preventing, detecting, and correcting non-compliance with applicable laws and regulations.
  • Conduct internal reviews and audits to ensure compliance with policies and procedures.
  • Review regulatory changes post-implementation to ensure ongoing compliance.


Advisory and Reporting:
  • Advise internal management and business partners on the implementation of compliance programs.
  • Provide advice and leadership in relation to compliance and ethics issues that arise, ensuring incidents are actioned appropriately.
  • Prepare and present clear and concise compliance reports to executive management, the board committees and the Board, providing ongoing strategic insights and updates.
  • Compile and submit compliance related reports to various regulators as and when required.


Complaint Management and Operational Governance:
  • Investigate and manage compliance and ethics-related complaints effectively.
  • Assist with the operational implementation of the Group Governance Framework.
  • Review operational governance policies, ensuring they are aligned with best practices and regulatory requirements.
  • Manage operational governance processes, including the drafting and updating of the delegation of authority.


Stakeholder Management:
  • Maintain strategic relationships with regulators and other internal and external stakeholders.


Team Leadership:
  • Lead and manage the entire Group contingent of second-line Compliance Officers, fostering a high-performance culture aligned with the Group's strategic objectives and compliance culture.
  • Promote continuous professional development within the compliance team, ensuring alignment with industry best practices and regulatory changes.


Qualification and Experience

Qualifications:
  • A law degree (LLB or B/Proc) or relevant BCom degree from a South African university or an equivalent qualification from a foreign tertiary institution.
  • Admission as an attorney is advantageous.
  • A postgraduate degree is advantageous.
  • A compliance qualification (postgraduate Diploma in Compliance Management) is advantageous.
  • Risk management certification is advantageous.


Professional Designations:
  • Meeting the competence and experience requirements to be registered as a Compliance Officer with the FSCA is advantageous.
  • Professional designations such as C Prac (SA) or C Prof (SA) are advantageous.


Experience:
  • At least 10 years of compliance experience, with a minimum of 5 years in compliance management within the insurance industry or a regulated financial services industry.


Knowledge and Skills

Strategic risk management
Strategic compliance and legal projects management
Compliance advice, training and documentation reviews
Regulatory compliance reporting and monitoring
Coaching and mentoring of less experienced compliance employees

Personal Attributes

Organisational savvy - Contributing strategically
Builds networks - Contributing strategically
Manages complexity - Contributing strategically
Persuades - Contributing strategically

Build a successful career with us

We're all about building strong, lasting relationships with our employees. We know that you have hopes for your future - your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its five business clusters - Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office - the group provides many opportunities for growth and development.

Core Competencies

Cultivates innovation - Contributing strategically
Customer focus - Contributing strategically
Drives results - Contributing strategically
Collaborates - Contributing strategically
Being resilient - Contributing strategically

Turnaround time

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.

The closing date for applications is 16 August 2024

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.

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