POSITION TITLE: Compliance Officer
DEPARTMENT: Legal & Compliance
ACCOUNTABLE TO: Executive Head: Legal & Compliance
INDUSTRY: Financial Services
JOB DESCRIPTION:
The job will involve the on-going monitoring of compliance procedures and controls, together with the development/enhancement thereof.
The individual will be responsible for assisting the Head of Legal, Compliance and Company Secretariat by conducting compliance audits, investigations, quarterly compliance reports and monitoring FAIS Fit and Proper requirements through a shared services compliance function for the division.
DUTIES / KEY RESPONSIBILITIES:
COMPLIANCE Support to the Head of Legal, Compliance and Company SecretariatGuidance and support to all FSPs and business areasCompletion of monthly/quarterly compliance reviews/auditsImplementing and managing monitoring functionsReports to management, executive committee, and boardBusiness regulatory risk monitoringMaintenance of Regulatory UniverseEnsure that a sound regulatory compliance framework and environment is maintained, by means of implementing and maintaining suitable policies, processes, and monitoring frameworksRemain abreast of changes to legislationEngage the FSPs on changes or requirements in applicable primary legislation.
Propose solutions that are efficient and effective, given business and environmental factorsProvide commentary on impending legislation, and understand how it pertains to the FSPsInvestigate, track resolution and report compliance breachesMaintaining of the competence register and representative registers for each FSPAttend to profile changes in respect of each FSPIdentifying possible compliance risksPrepare annual compliance reports to FSCAAssist in drafting and maintaining the Company's compliance related policies (examples: CPD, COI, debarment, TCF, POPI)Sensitivity - ConfidentialDrafting and maintaining Risk Management Compliance Plans for FICA in respect of each FSPMaintain copies of insurance (PI cover) and documentation for the FSPsAttend to the renewal of insurance policiesEnsure that the FSPs maintain the required levels of PI/IGF cover as per the legislative requirementsCompliance reviews of scripts, websites, products, marketing material etc.Focus on TCF, POPI, CPA, FAIS, FICA, and Insurance legislation COMPLAINTS MANAGEMENT AND SPECIAL INVESTIGATIONS
Perform special investigations as required based on:
Monthly audit results (statistics)Follow-up on problematic areas identified during monthly and quarterly auditsAssist management where required in complaint resolutions/investigationsAttend to Regulator and Ombud complaintsAssistance with ad hoc complaints investigationsReview of complaints management policy TRAINING AND ACCREDITATION MANAGEMENT
Compliance training and follow-up on key issuesRefresher training and auditsEnsure CPD; COB; Product training and regulatory training is completed by the required peoplePrepare ad hoc compliance presentations for businessEDUCATION:
Minimum Grade 12 / Matric
RE1, RE5
CISA associate membership (advantageous)
FSCA Category 1 Approved Compliance Officer
Applicable degree and compliance experience in:
Insurance/RiskLegalCompliance EXPERIENCE, KNOWLEDGE, AND SKILLS REQUIRED:
Call Centre Compliance experienceFinancial services background incl.
direct exposure to financial legislationMinimum of 3 years' compliance experience within Financial Services or InsuranceExperience or knowledge in Compliance with a focus on TCF, POPI, CPA, FAIS, FICA and Insurance legislationInterpersonal skills and strong characterOTHER REQUIREMENTS:
Solutions drivenAttention to detailEnergeticAbility to work under pressureTeam playerAccuracy