Compliance Manager at Santam Insurance

What will you do?

Our Risk Office (Group Compliance and Business Integrity) has a position available for a Manager: Compliance who will be based in Bellville (Cape Town).

The Compliance Function is mandated to ensure that the compliance risks (i.e. compliance with regulatory, ethical, and internal and external policy obligations imposed on the Group) are appropriately monitored and addressed by management. A risk-based approach is adopted to ensure that material compliance risks are addressed and mitigated by the business.

The compliance function is accountability to the Santam Group Board, through the Santam Group Risk Committee to ensure that compliance risks are appropriately monitored and addressed by management. 

This is a Group function which will operate in all jurisdictions where Santam has a footprint in alignment with the necessary mandate. The role of the Manager Compliance will be to assist the Group Compliance Function in the Execution of the Group Compliance mandate as set out by the Board.

In addition, this incumbent will be appointed as the Deputy Information Officer for Santam Ltd in terms of POPIA to perform functions as designated by the Information Officer.

What will make you successful in this role?

• Compliance Risk Management

  • Conduct Compliance risk assessments across the businesses and to provide pro-active guidance to the businesses in addressing compliance risks (which includes compliance with legal, regulatory and ethical obligations and standards applicable to the businesses).

• Monitoring Compliance and Reporting

  • Conducting Compliance Audits/Reviews to monitor adherence to compliance obligations and preparing the relevant compliance reports to the various levels of management in the businesses.

• Provide appropriate input into compliance projects where required. 

  • Render appropriate Compliance advice/guidance, training to the businesses as and when required 

• Handle requests from third parties (internal requests and external requests) relating to POPIA related matters as directed to the Information Privacy Office and as determined by the Information Officer and/or Deputy Information Officer under POPIA and PROATIA.

• Coaching and mentoring of less experienced compliance employees.

Qualifications and Experience

• NQF Level 8: Degree in Law / LLB preferably a postgraduate degree in Law 

• Post graduate Diploma/Compliance Certificate 

• Admitted attorney of the High Court

• Continuous adherence to the fit & proper requirements as determined by the Prudential Authority and the Financial Sector Conduct Authority

• Extensive knowledge of legislation, regulations and legal principles applicable to the financial services industry, in particular the insurance sector

• At least 8-10 years of experience in financial services industry, in particular the non-life insurance sector

• Good knowledge of the Protection of Personal Information Act and its requirements

Knowledge and Skills

• In-depth technical knowledge of regulations and legal requirements applicable in the insurance financial services industry  and conduct risks

• Ability to influence people 

• Good business acumen 

• Ability to build a wide network 

• Excellent communication skills (both written and verbal) 

• Assertive 

• Intermediate/Advanced knowledge and use of Microsoft Word, Excel, Powerpoint.

• Excellent critical analytical skills

• Excellent attention to detail

• Ability to work with complex legislation and information

• Regulatory framework (SA and other jurisdictions Santam operate in)

  • Insurance Acts of SA and where applicable in foreign jurisdictions

  • Long-term Insurance Act and Short-term Insurance Act and subordinate legislation

  • FAIS Act

  • COFI Bill

  • Non-insurance specific legislation affecting the company (Companies Act; Labour legislation, POPIA; PROATIA, FICA etc.)

  • Industry Governance codes and listing requirements 

  • (King IV, SAIA)

Core Competencies

• Being resilient - Contributing through others
• Collaborates - Contributing through others
• Cultivates innovation - Contributing through others
• Customer focus - Contributing through others
• Drives results - Contributing through others

About The Company

Santam is the market leader in the general insurance industry in Southern Africa. We are a large, diversified, expanding and transforming company and whilst based in South Africa, we are rapidly moving into a number of emerging markets, both in Africa and Asia. 

Our success is rooted in our passion for our clients and everything we do is centered on our delivery of Insurance Good and Proper. We’re about people. People drive our business so it follows that we want to recruit the best people possible whether they work for us permanently or for a short time as temporary employees. 

At Santam we are committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society. In achieving our employment equity goals we give preference to applicants from the designated groups in alignment with the Divisions Employment Equity targets.