Senior Compliance Manager
1 week ago
Who we are
Safrican is a respected life insurer with a footprint in South Africa and a subsidiary in Eswatini. Safrican has over 2 million principle lives covered and more than 7 million lives assured, The Company has grown from strength to strength since 2004. Purpose of the role To develop the compliance regulatory tactical strategy plans, integrate practice formulation and to ensure operational implementation and adaption across multiples practices for methodology, governance, and delivery objectives.
To effectively manage regulatory complaints and escalated complaints to retain current/prospective clients and minimise reputational and compliance risk for Safrican. To perform root cause analysis and identify product / processes / people causing friction for clients and recommend initiatives to address these areas Qualification & experience
LLB or equivalent legal degree
Admitted Attorney or advocate in South Africa would be advantageous
5-8 years in a senior compliance/risk/governance role
Min 5 years’ experience in Long Term Insurance space or group life insurance (Group Risk, Cell captive insurance and Funeral products experience will be an advantage)
Extensive knowledge and good understanding of the following legislation: - FAIS, Long Term Insurance Act, Insurance Act, 2017, Retail Distribution Review, FSR Act, POPI, FICA, Long-term insurance Regulations & Policyholder Protection Rules, 2017 Key Responsibilities
Identify regulatory requirements for operational compliance as a financial institution (up to date with regards to regulatory developments).
Communicate regulatory compliance requirements to the business
Plan first line compliance audits for the business unit
Design and implement policies and procedures / manuals/ standard operating procedures to ensure compliance in the business unit
Provide assistance to line management with its responsibility to comply with applicable statutory, regulatory and supervisory arrangements
Appropriately escalate and manage compliance related issues within the business unit, which includes Safrican Exco or to second line compliance
Compile compliance plan by risk and area
Provide compliance support in the development of products and sign-off from a first line perspective
Support Safrican departments by collecting and coordinating internal compliance data with auditors and various departments
Drive all compliance projects from an Safrican perspective
Maintain a working relationship with internal and external stakeholders
Provide support to Safrican business in respect of compliance with customer due diligence provisions (as set out in FICA Amendment Act)
Attend to general compliance matters within Safrican business
Manage a team of compliance officers.
Relevant Governance controls and regulatory knowledge
Corporate Governance & Compliance
Compliance reporting
Complaints management
Archiving Documentation
Policy & Procedural Knowledge
Our commitment to transformation
Safrican 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. Safrican Employment Equity plan and targets will be considered as part of the selection process.
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