Closing Date 2024/08/28Reference Number MMH240424-6Job Title Senior Compliance Officer - Cape TownPosition Type PermanentRole Family Legal and ComplianceCluster Metropolitan LifeRemote Opportunity Some of the timeLocation - Country South AfricaLocation - Province Western CapeLocation - Town / City BellvilleIntroductionMetropolitan is one of the oldest financial services brands in South Africa. With a 125-year legacy of serving the communities in which it operates, Metropolitan represents true empowerment in serving Africa's people through affordable financial solutions that create financial growth and security. Metropolitan operates in South Africa, but the brand is also present in 7 African countries including, Namibia, Botswana, Kenya, Ghana and Lesotho. Metropolitan provides financial wellness solutions that meet the needs of low-income clients, including funeral insurance, health, savings, hospital cash-back cover, retirement solutions and life insurance.Visit us: www.metropolitan.co.zaDisclaimer: As an applicant, please verify the legitimacy of this job advert on our company career page.Role PurposeEnsure that Metropolitan Retail business units have systems of internal control that adequately identify, measure, monitor, manage and report on the compliance risks it faces. To provide regulatory advice to business units to assist the business to achieve its strategic objectives within the regulatory framework.RequirementsLLB degree or degree recognized by the FSCA for a compliance officer.Registered as a compliance officer with the FSCA or capable of becoming registered (preferred)Compliance experience 7-10 years in the financial services industry, including experience in the Long-Term Insurance Industry. Excellent knowledge of the FAIS and FIC Act.Key skills needed include:Excellent written and verbal communication and report writing skillsPresentation skillsAssertive and resilientAble to work under pressureInterpersonally agile and able to build relationships at all levelsAnalytical and attentive to detailAble to translate legal knowledge for a non-legal audienceDisciplined and well-organizedAble to work independently and in a teamDuties & ResponsibilitiesInternal ProcessIdentify, measure, monitor and report business compliance risks with the support of the business.Assist business with translating compliance related matters into actionable policies and procedures.Submit regulatory compliance reports to regulators where applicable.Reporting on and providing accurate and complete information to stakeholders in respect of regulatory matters and compliance risks as well as compliance breaches.Compile an annual monitoring plan and present for approval by the relevant executive committee.Conduct and ensure that monitoring is conducted in line with the approved annual monitoring plan.Identify and then notify relevant stakeholders of compliance training opportunities.Attend various MANCO meetings and provide guidance and assistance to the business.Assist with the debarment process and guidance and training to the business on debarments.Provide ongoing training support to stakeholders to ensure that all staff members are trained in respect of regulatory obligations.Monitor and measure compliance performance by the 1st line of defence, and ensure appropriate mechanisms are in place to identify and address non-compliance by the 1st line of defence.Monitor whether a complaints handling process developed by business is in line with regulatory and legislative obligations.Maintain good working relationships with regulators and Group Compliance to ensure consistency of information presented and to avoid any future contradictions within MMH.Providing reports, regular and ad hoc to Divisional/Business unit Management, Group Compliance and other relevant forums.Ensure compliance obligations are factored into contracts with external suppliers/service providers, where applicable.Keeping abreast of compliance obligations and new developments in the compliance landscape.Client ServicesProvide authoritative expertise and advice to clients and stakeholders in respect of achieving the business strategy.Build and maintain relationships with clients and internal and external stakeholders.Define service practices which build rewarding relationships, encourage innovation and allow others to provide exceptional client service.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.PeopleCreate a positive work climate to maximize collaboration within the team and within the business.Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organisational values.Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.Encourage innovation, change agility and collaboration within the team.Mentoring and coaching of Junior members in compliance team.FinanceContribute to the development of area specific budgets to minimize expenditure, in alignment with operational plans.Identify solutions to enhance cost effectiveness and increase operational efficiency.Implement and provide input into governance processes, systems, and legislation within area of specialization.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.CompetenciesBusiness Acumen - Understands how the business operates, what the key issues and risks are that drive business success; and how they impact on the commercial viability of potential ventures and the profitability of the Group.Client/Stakeholder Commitment - Anticipates, meets and exceeds client's needs by creating long lasting relationships that support the client value proposition, supports their financial wellness and ensures client centricity.Drive for Results - Drive a sense of urgency, focus, accountability, agility and execution to deliver business results.Leads Change and Innovation - Actively leads change, does what is right for the business and drives continuous improvement through innovation.Motivating and Inspiring Team - Creates and maintains an open, positive working environment by generating commitment, building trust, a shared sense of purpose, empowerment in others and encouraging them to contribute to the best of their ability.Collaboration - Prioritises the business interests of MMH and invests in the success of the group by aligning effort across divisions.Impact and Influence - Persuades, convinces, influences and inspires others, both within MMH and externally to win support, loyalty and gain commitment to the purpose of MMH.Self-Awareness and Insight - Manages self and relationships with others effectively, deals with ambiguity, uncertainty and pressure, and provides perspective in difficult situations.Diversity and Inclusiveness - Is sensitive to individual and cultural differences and demonstrates humility and an openness to engage people from diverse backgrounds and cultures to the mutual benefit of all parties concerned.Growing Talent - Takes responsibility for own development; and actively mentors, coaches and develops talent in others. Builds leadership bench strength for MMH by providing opportunities and experiences to develop skills, competencies and business knowledge.
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