Business Unit: Discovery Central Services
Function: Compliance
Date: 3 Sep 2024
Discovery – Group Compliance
Compliance Manager - Governance
About Discovery
Discovery's core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.
Job Purpose
The FAIS Centre of Excellence is a compliance function within Group Compliance that provides compliance oversight and advice to Discovery FSPs, Key Individuals, and Representatives. The purpose of this role is to provide sound advice to FSPs in terms of legislation, implement and maintain the FSP Governance Framework, manage and facilitate all FAIS-related regulatory engagements and submissions, and ensure compliance with best practices and methodologies.
Areas of Responsibility
Provide advisory notes on regulatory compliance matters, engage stakeholders on resolutions, and draft compliance guidance notes.
Develop and review company policies and frameworks in line with compliance best practices.
Manage the regulatory profile of the business, ensuring remedial action plans are implemented.
Manage licensing requirements for FSPs and ensure compliance with license conditions.
Facilitate the drafting of legal opinions and responses for submission to regulators.
Design, review, and sign-off compliance documents as needed.
Keep abreast of regulatory developments in the financial services industry.
Communicate regulatory requirements to stakeholders and provide guidance on new legislation.
Manage all regulatory engagements and interact with industry bodies on compliance queries.
Facilitate meetings with stakeholders and ensure timely completion of questionnaires.
Oversee submissions to the regulator such as annual financial statements.
Provide reports and feedback to senior management and committees.
Manage projects related to new business initiatives and third-party interactions.
Guide and motivate team members to achieve common goals and objectives.
Build and maintain strong cross-functional relationships with internal and external stakeholders.
Education and Experience
5 years of working experience in a financial services compliance role with a thorough understanding of FAIS.
4-5 years of experience in managing a team.
Relevant tertiary education.
Recognised compliance qualification from an accredited institution (advantageous).
Membership in Compliance Institute of South Africa and/or Financial Planning Institute (advantageous).
Skills and Knowledge
Detailed knowledge of local legislation relating to financial services.
Sound understanding of compliance methodology.
Problem-solving and conflict-management skills.
Strong communication, reporting, and presentation skills.
Ability to work as a team and raise concerns appropriately.
Strong research ability and attention to detail.
Technical expertise in the operation and governance of FSPs.
Ability to write and review compliance policies and guidance notes.
Efficient time management skills.
Strong leadership and teamwork qualities.
Experience in managing a professional team.
EMPLOYMENT EQUITY The Company's approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.
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