Compliance Specialist Insurance

2 weeks ago


Midrand, South Africa Six Sense Full time

A well-established business is seeking to appoint a Compliance Specialist for the Insurance Division.
To support the Compliance Officer and the Head of the Compliance Control Function in ensuring that the organisation complies with all relevant statutory, regulatory and supervisory requirements which relate to the Insurance, Operational Standards as well as policies and procedures.

**Minimum Education and Experience**:

- Bachelors Degree in Finance or Law
- BProc or LLB Degree
- Programme in Compliance Management
- Approved by FSCA
- 3 years Financial Services Industry
- 3 years Compliance Management experience within financial services
- Sound knowledge of the life and non-life insurance legislative framework
- 3 years
- Sound knowledge of Financial Advisory and Intermediary Services Act -3 years
- Sound Knowledge of the Financial Intelligence Centre Act - 3 years
- Sound knowledge of Insurance Act - 3 years
- Financial Sector Regulation Act - 3 year
- Review and Monitoring of internal policies and procedures
- Review all applicable policies and procedures and ensure that issues of non-compliance are communicated to the affected areas
- Ensuring that areas of non-compliance are tracked until resolution
- Evaluate proposals and review against compliance criteria
- Compile and provide compliance related advice to management in respect of existing and new business
- Communicate the regulatory universe and risk profile to relevant stakeholders
- Communicate the implications of the regulatory to senior management
- Develop, review, coordinate and facilitate approval protocol and implement policies and procedures within area of responsibility
- Facilitate the development, review, approval and implementation of appropriate internal organisational policies, procedures and controls in line with business requirements and regulatory requirements in order to strengthen corporate governance
- Engage with business stakeholders to understand business requirements and identify the need for business policies and procedures in support of business processes
- Foster and maintain compliance culture through regular appropriate communication on policies

**Critical Competencies**:

- Knowledge of financial services industry
- Knowledge of life and non-life legislative framework
- Compliance Management Principles and Processes
- Management of the Compliance Risk Management Plans
- Knowledge of Business Principles
- Knowledge and interpretation skills of all applicable legislation to the Insurance business and ability to communicate these at all levels.

For more information please contact:
**Audra King


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