Compliance Officer

1 week ago

Johannesburg, Gauteng, South Africa African Unity Life Ltd Full time

An authorised financial services provider, operating within the Life insurance industry in South Africa, requires the services of a
Compliance Officer.


Job Summary:

We are seeking a diligent and proactive Compliance Officer to ensure the highest standards of compliance in our operations. This pivotal role involves monitoring, reviewing for compliance purposes, and recommending changes to standard operating procedures. We have offices in Johannesburg and Cape Town.

Tasks and responsibilities will include, but not be limited to:

  • Review of the compliance risk management control environment across the business.
  • Identify and evaluate compliance exposures/regulatory breaches.
  • Ensure compliance with statutory requirements such as POPIA; FIC; FAIS; Longterm Insurance and PPR, etc.
  • Implementation of a risk plan identifies and assess compliance risk areas and appropriately address findings through relevant and appropriate action plans processes.
  • Conduct compliance monitoring based on a monitoring plan.
  • Complete monitoring and draft reports on all company JR's, Binders and Intermediaries to comply with statutory regulations.
  • Advise and improve client compliance to ensure the company complies with applicable legislation.
  • Educate and provide guidance on TCF to staff and clients.
  • Regularly audit company procedures, practices, and documents to identify possible weaknesses or risks.
  • Manage risk by recommending new compliance measures to avoid and mitigate risk.
  • Assess company operations to determine compliance risk.
  • Conduct Compliance Risk Management awareness throughout company and implementation of mitigating controls.
  • Manage compliance risk by identifying compliance issues and implementing mitigating procedures.
  • Ensure all employees are educated on the latest regulations and processes.
  • Remain up to date with Compliance trends, recommend and implements changes to internal company processes as required.

Requirements:

Qualification:

  • LLB / BCom (Diploma in compliance advantageous)

Experience:

  • 7 years' experience as a compliance officer in the Financial Services Industry.
  • FAIS, FICA, POPIA and insurance regulations and legislation experience required.

Knowledge:

  • Regulatory compliance and reporting
  • Financial Advisory and Intermediary Services Act, Long Term Insurance Act, Longterm Insurance Act Regulations, PPR, Financial Section Regulation Act and Protection of Personal Information Act, Financial Intelligence Centre Act.
  • Familiarity with compliance risk management principles and practices.
  • Comprehensive understanding of relevant regulatory requirements such as POPIA, FIC, FAIS, Longterm Insurance, and PPR.
  • Understanding of compliance monitoring methodologies and techniques.
  • Awareness of industryspecific compliance standards and best practices.
  • Familiarity with compliance trends, developments, and emerging regulations.
Skills and Abilities

  • Strong focus on excellence
  • Project Management capability: Ability to prioritise and manage multiple tasks
  • Ability to work independently as well as part of a team
  • Strong relationship collaboration
  • Takes initiative
  • Welldeveloped conceptual, analytical and problemsolving skills with strong commercial judgement and decisionmaking ability.
  • Excellent communication and interpersonal skills
  • Excellent negotiation and dispute resolution skills.
  • Strong legal research and statutory interpretation skills
  • Attention to detail.
  • Strong ethical standards and integrity to uphold compliance principles and standards consistently.

Remuneration:
Market Related

African Unity Life upholds a commitment to employment equity (EE), and appointments will align with the company's EE Plan.

Application Question(s):

  • What is your salary expectations ?

Education:

  • Bachelors (required)

Experience:

- financial service industry as a compliance officer: 5 years (required)

  • FAIS: 5 years (preferred)
  • FICA: 5 years (preferred)
  • Insurance Regulations and legislation: 5 years (preferred)

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