Operational Risk & Compliance Manager at Afrizan Personnel

Job Description

• Manage, identify and monitor the operational risk and compliance with all legislative requirements for DFS
• Oversee all legislative compliance including FAIS, FICA, POPI, SAM, TCF, pending RDR, etc.
• To ensure that oversight, support and guidance is provided to management in terms of risk and compliance management within the operational areas
• To facilitate and support management in meeting their risk and compliance objectives
• To ensure alignment to Group policy and standards and ensure management embed such activities in their respective areas

Process

• Regulatory licensing and registration management (FAIS, LTIA, FICA, DMA, CPA etc.)
• To ensure that the appropriate licences and registrations are in place in order for the business to function
• Ensure the on-going monitoring of licence and registration conditions and associated reporting are timeously completed
• Support management in the implementation of related regulatory changes within the business linked to new and existing licensing requirements/conditions
• Support business decision making by providing compliance inputs and options to facilitate the business initiatives
• Compliance monitoring and reporting
• Development and implementation of compliance management framework
• Monitoring of the existing compliance regulatory environment for new legislation or changes to existing legislation
• Briefing management on requirements, implementation approach and timelines
• Review of all new business requirements for compliance
• Monthly compliance reviews of transactional client sales and servicing records
• Monthly/quarterly reporting on compliance status within the organisation
• Ad hoc reporting of significant compliance breaches
• Annual compliance reports
• Supporting management with internal or external audit requirements
• Complaints review
• Operational and business risk management identification, reporting and management
• Establishment of risk management framework
• Review of risk registers maintained by management
• Review of quality assurance function
• Monthly risk monitoring, trend analysis and reporting

Perform special investigations as required based on:

- monthly audit results

- problematic areas identified during quarterly audits

• Assist operational managers where required in complaint resolutions/investigations
• Escalation of suspicious transactions to respective management, Group and regulatory bodies
• Quarterly Group risk and compliance reporting
• Oversee the BCM/DR functions
• Ensure that the business operates in compliance with the various regulatory requirements by providing guidance on policy procedures and rules of engagement on sales, marketing, servicing and quality assessment areas of the business
• Oversight and tracking of all audit findings to ensure management implements agreed action plans.

Customer

• Manage an integrated TCF service excellence culture, which builds rewarding relationships and provides opportunity for feedback and exceptional service
• Implement practices which build service delivery excellence according to TCF principles and encourage others to provide exceptional customer service

Finance

• Plan, implement and monitor a cycle of medium term cost improvements
• Draw up a budget aligned to tactical delivery plans, monitor and report on variances

Learning and Growth

• Positively influence and manage change by providing mechanisms and support to implement major changes in area of accountability
• Develop and implement people capacity plans in line with delivery and performance objectives, on budget and in partnership with specialised areas

Governance

• Implement and provide input into the development of governance, compliance, integrity and ethics processes within area of specialisation
• Advise on, review and monitor compliance against organisation’s rules, codes or practices, business ethics, internal guidelines, principles and legislation
• Monitor and provide feedback on the effectiveness of compliance practices and procedures: preventing illegal, unethical or improper conduct

Qualifications and Experience

• CA (SA) or CIMA or LLB or BCom. Commercial and insurance law subjects and other financial service related subjects required
• Minimum 5 years risk and compliance experience within the financial services sector (preferably long-term insurance)
• Experience working with regulatory bodies
• Experience in service level management

Knowledge

• Knowledge of general principles of contract and insurance law, and legislation applicable to and affecting the long-term insurance industry
• Knowledge and understanding of business rules and procedures including insurance and financial services product knowledge and understanding of financial services processes and systems
• Knowledge and understanding of compliance and operational risk regulatory requirements
• Knowledge and understanding of risk management methodologies, tools, governance structures and regulatory requirements for good management of risk
• Understanding of financial services business processes: operations, sales, collections, customer services, retentions.