Head of Insurance Compliance and Risk Management

EasyPay Insurance, part of the broader Lesaka Technologies group, is recruiting a senior specialist to lead the compliance and risk management functions of its insurance business. This role will oversee the full regulatory, governance and risk environment in alignment with the Insurance Act, Prudential Standards, Long-term Insurance Act, FAIS Act, FIC Act, FSR Act, POPIA, the Companies Act and the evolving COFI Bill. The successful candidate will play a central role in supporting the Board, Executive Management and the Consumer Division through independent oversight, strategic guidance and strong governance practices.

The position will be appointed, subject to regulatory approval by the Prudential Authority, as the Head of the Compliance Control Function and the Head of the Risk Management Control Function. It will also serve as the Compliance Officer and Key Individual in terms of the FAIS Act, subject to FSCA approval.

Key Responsibilities

Risk Management

• Maintain and enhance the Risk Management Framework in accordance with Prudential Standard GOI 3.

• Review and maintain all Board-approved risk management policies.

• Oversee regulatory relationships with the Prudential Authority and Financial Sector Regulation Authority.

• Lead identification, assessment and reporting of key risks including insurance, credit, market, operational, liquidity, reputational, strategic, IT and cyber and outsourcing risk.

• Coordinate and draft the annual ORSA report for Board approval and PA submission.

• Prepare and present quarterly Risk Management reports to the Risk and Compliance Committee.

• Maintain risk registers, risk appetite statements and dashboards; monitor adherence and escalate breaches.

• Prepare the annual Risk Appetite Statement for Board approval.

Compliance

• Ensure compliance with all relevant legislation governing insurance businesses.

• Maintain the Compliance Risk Management Plan (CRMP).

• Identify, assess and report on key legal and regulatory risks.

• Monitor compliance breaches and oversee regulatory submissions and supervisory engagements.

• Act as the primary liaison with the FSCA, Prudential Authority, Ombud and other regulators.

• Prepare and present quarterly Compliance Reports to the Risk and Compliance Committee.

• Manage Board and management assessments including Fit and Proper evaluations and Committee assessments.

• Ensure timely submission of all regulatory returns, applications, notifications and responses.

Governance, Advisory and Strategic Contribution

• Provide strategic input across business initiatives, new product development, outsourcing arrangements and binder/intermediary agreements.

• Drive a strong risk culture through training, awareness and engagement.

• Support internal audit with risk-based insights and coordination.

• Advise the Board and Executive Leadership on emerging regulatory, governance and risk developments.

• Prepare and present reports to the Social and Ethics Committee.

Experience and Qualifications

• Bachelor's degree in Risk Management, Law, Compliance, Finance or a related field.

• Professional designations such as CPrac/CProf and/or CRM Prac/CRM Prof are advantageous.

• RE1 and RE5 advantageous.

• Minimum of five years' experience in a similar role within the insurance sector, ideally with prior approval as a Head of Control Function.

• Extensive experience within the South African insurance sector, with strong knowledge of life, non-life and microinsurance regulatory frameworks.

• Proven engagement experience with the FSCA and Prudential Authority.

• Strong analytical, communication and stakeholder influence capabilities.

This is a senior leadership opportunity for an experienced specialist capable of guiding governance, regulatory compliance and risk management at a high standard. Candidates who meet the requirements are invited to apply.