Business Compliance at Santam Insurance

Job Role

• The ideal candidate will provide proactive regulatory and Compliance advice and support to client servicing teams (mainly UMA and Brand Affinity Solutions BU’s) and Centriq’s business partners. You will ensure that products, business solutions, services and deal structures developed by Centriq and/or its business partners are provided within the existing regulatory framework and in an efficient and value-adding manner. 

Key Responsibilities

• Review all marketing material and policy fulfilment documentation prior to distribution by business partners.
• Assist client service representatives during take-on of new business and provide guidance on the management of conduct of business risk exposures emanating from existing business deals/products/services to ensure compliance with the existing and developing legal framework.
• Assist and provide guidance to client service teams in the implementation of regulatory requirements internally and externally with business partners.
• Develop corrective action for resolution of existing regulatory and compliance issues and provide general guidance to staff.
• Provide training to client service teams and business partners on the changing legal landscape.
• Contribute to reports submitted to all stakeholders on market conduct and sustainability.

Qualifications And Experience

• Legal Degree
• General understanding of South African law and Insurance law
• 3-5 years financial services

Knowledge And Skills

• Insurance Legislation and Regulations including, Short-term Insurance and Long-term Insurance Act as well as related Policyholder Protection Rules, Insurance Act, FAIS Act, Companies Act, POPI, etc.
• General knowledge of the financial services and insurance industry
• ASISA & SAIA Standards
• General legislation applicable to the greater business environment
• Interpretation of legislation
• Report writing
• General business acumen
• Extensive experience and knowledge of insurance related legislation and regulation
• Relationship building skills

Personal Attributes

• Subject Knowledge
• Problem Solving/Analytical ability
• Effectiveness
• Innovation/Drive
• Communication/Interpersonal skills
• Client Service (Internal/External)
• Ability to work well in a small team environment
• Ability to work well with socially diverse individuals such as entrepreneurs, small business owners etc