Compliance Officer MMH250718-17

Role Purpose

Implement the compliance strategy aligned to the compliance monitoring plan to enable the business within a legal framework.

Requirements
Qualification

• Matric Certificate
• Qualifications as per fit and proper requirements to be registered as a licensed compliance officer with the FSCA (Essential)
• Post graduate qualification in Compliance Management (Desirable)
• Legal qualification (Desirable)
• Degree in Commercial, Risk Management, Audit, Legal, Business or related field (Essential)

Licensing or registration

• Registered with the Compliance Institute of Southern Africa (Desirable)
• Registered as licensed compliance officer with the FSCA (Essential)

Knowledge

• Exposure to interpretation of legislation for Health, insurance and financial services environment
• Exposure to aspects of the compliance risk management framework.
• Understanding of the insurance and financial services industry.
• Knowledge of Regulation i.e. FAIS,FICA,POPIA, LTIA, SHORT TERM INSURANCE ACT, MEDICAL SCHEMES ACT, COFI, FSCR
• Knowledge and understanding of the typical products offered by organisation

Experience

• 2 - 5 Years compliance related experience
• Experience in the insurance and financial services industry (preferred)

Duties and Responsibilities

Internal Process

• Execute compliance activities based on the Compliance Monitoring Plan in order to provide assurance on the level of regulatory compliance.
• Monitor new regulatory mandates, rules and requirements, ensure that compliance policies are kept up to date and that revisions are disseminated in a timely manner.
• Design and implement compliance training and educational programmes; actively participate in management training, including new starter induction programmes.
• Provide advice on compliance with applicable laws and regulations to the business to ensure ongoing adherence and compliance.
• Assess the possible impact of any regulatory development on the operations of the business and work with the business with regard to compliance.
• Conduct compliance monitoring reviews and audits based on audit schedule and ad hoc requirements as required by the Internal Auditor or business leader.
• Execute the regulatory compliance breach management and follow-up process in order to address the identification, analysis and resolution processes to be followed as well as the escalation procedures.
• Contribute to the initiation of critical statutory projects relevant to the business and monitor the appropriate implementation thereof by the business.
• Create awareness within business regarding new compliance requirement or provide guidance on potential impact of compliance requirements.
• Support the business stakeholders identify compliance risks or weaknesses for which the business should consider additional mitigating action, or processes and/or procedures.
• Initiate, contribute and prepare the necessary documentation for the submission of business enabling statutory applications to applicable regulatory and industry or supervisory bodies.
• Build relationships with internal and external stakeholders as well as the wider compliance community within Momentum Health Group.
• Deliver compliance reports that highlight compliance activities and instances of non-compliance, both internal and external within agreed time frames.
• Initiate and contribute to the review of all critical business policies from a regulatory compliance perspective and make recommendations for improvement.
• Identify, assess, manage, monitor and report on compliance risks that the company face.
• Execute compliance activities based on the Risk-based compliance plan in order to provide assurance on the level of regulatory compliance.
• Assisting with FAIS compliance and all matters relating to FAIS,FICA (as applicable).
• Drafting communications to the business on compliance related matters.
• Research a wide variety of topics and issues including regulatory matters, compliance management and report timeously to relevant stakeholders.
• Ensure compliance record keeping adheres to legislation.
• Assisting the Compliance Manager in reviewing any new major business initiatives or internal business proposals .
• Conduct routine monitoring of training completion statistics and maintain relevant records for reporting.
• Prepare and distribute a monthly compliance newsletter summarizing regulatory updates, internal policy changes, and compliance tips.
• Maintain and update all compliance registers, including breach, complaints, risk, and monitoring registers.
• Assist in the preparation and submission of licensing applications, including collating supporting documentation and liaising with regulatory bodies.
• Maintain a tracker of all applications and renewals to ensure deadlines are met and licences remain current.
• Drafting compliance report in collaborating and reviewing business unit compliance report.
• Assist in maintaining and apply for CMS accreditation with the regulator.

Client

• Build and maintain relationships with internal and external stakeholders.
• Contribute to the process of negotiating objective and realistic service level agreements, monitor appropriateness and recommend adjustments.
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed.
• Make recommendations to improve client service and fair treatment of clients within area of responsibility.
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

People

• Build strong relationships through providing specialist know-how and leadership to others, expressing positive expectations.
• Continuously develop own expertise in terms of industry and subject matter development and application thereof in an area of specialisation.
• Positively influence and manage change and offer specialist support where required.
• Contribute to continuous innovation through the development, sharing and implementation of new ideas and involvement of colleagues and staff.
• ParticipateParticipate in and contribute to a culture of work centric thinking, productivity, service delivery and quality management.
• Take ownership for driving career development.

Finance

• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Implement and provide input into governance processes, systems and legislation within area of specialisation.
• Escalate unresolved policy and governance compliance issues via appropriate channels for investigation and resolution purposes
• Provide input into the risk identification processes development and communicate recommendations in the appropriate forum.

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