Compliance Officer at AON

Aon South Africa is currently recruiting a Compliance Officer. The role of the Compliance Officer is to provide a professional compliance related service across the business. To robustly manage compliance regulatory and reputational risks through implementation of relevant local regulatory requirements and Aon policies and procedures designed to ensure adherence with regulation and legislation. To provides the business and support services with compliance operating standards and requirements.

Detailed responsibilities

As a Compliance Officer some of your responsibilities will include:

1. Compliance Framework and Methodology

•     Conducting Risk Profile Workshops with stakeholders and management to align the business to applicable legislation and Aon Policies
•     Compiling a Regulatory Risk Universe for all businesses which will be reviewed and updated annually.
•     Drafting Risk Management Plans for applicable legislation (FAIS and supporting legislation) and Aon policies.
•     Documenting controls that Business has in place or working towards in these risk management plans.
•     Providing input to Compliance monitoring plan for branch on site visits and monitoring exercises to be completed annually.
•     Conducting Compliance monitoring in accordance with the monitoring plan.
•     Monitoring the adequacy and effectiveness of the controls documented.
•     Compiling adequacy and effectiveness review reports on monitoring completed.
•     Discussing draft and finalising reports with relevant Business Unit Managers.
•     Distributing finalised reports to all relevant stakeholders.
•     Assisting and recommending to Business Units on how to correct findings made against them.
•     Monitoring and track findings until finalised.

2. Compliance Training and Awareness

•     Drafting the compliance training plan for approval by the Company Compliance Officer and conducting Compliance training across all Branches and Head Office accordingly.
•      Drafting the compliance training plan for approval by the Company Compliance Officer and conducting Compliance training across all Branches and Head Office accordingly.
•     Drafting and updating Compliance Training Slides.
•     Providing compliance training to all Aon employees as reflected in the compliance training plan.
•     Managing training records of the employees that have attended the compliance training for reporting to the Financial Sector Conduct Authority.
•     Providing compliance advice and support to business to promote compliance to policy and legislation, when required.
•     Monitoring required compliance training that needs to be completed by all employees.
•     Attending to Induction programme and complete a presentation on the topic of compliance.

3. Compliance Reports

•     Assisting the Company Compliance Officer in completing reports for Exco, Board and the Financial Sector Conduct Authority.
•     Maintaining a list of applicable licences and diarise renewals.
•     Assisting with the Financial Sector Conduct Authority levy due diligence and payment.
•     Completing the CAT 1 Compliance Reports to Financial Sector Conduct Authority. Thereafter presenting the submission to the Company Compliance Officer for review and approval.

4. Financial Advisory and Intermediary specific tasks

• Reviewing or preparing all profile changes for onward submission to the FSCA.
• Reviewing or responding to all fit and proper queries received from the FSCA or business.
• Maintaining, updating and providing input to the Complaints Register.
• Conducting periodic root-cause analysis in relation to complaints received and providing report to the Company compliance officer.
• Assisting the Company Compliance Officer with FAIS Ombud complaints and queries received.

 4. Compliance Policies

• Being responsible for the end to end advisory and implementation of the following requirements:
•     Limited use of Third Parties Policy (review completed documentation, prepare and present application to committees, communicate outcome with business sponsor, update master list and provide to Global and approve payments to Third Parties as well as review of Agreements drafted by the Legal department to verify compliance elements).
•     Sanctions – OFAC (attend to queries from the business, escalate to Global for guidance and outcome, communicate with business stakeholders, and attend to all open alerts on ACPPROD and ACPROW including reporting to Global).
•     Gifts and Entertainment (attend to queries from the business stakeholders and Global, review and complete due diligence for CER’s, approve CER’s timeously).  

  5. Compliance Culture

• Supporting the Compliance function to establish a Compliance culture and creating an awareness of Compliance through interaction with the business.

6. Compliance Advice

•  Supporting the business by providing well researched Compliance opinions and advice where required.

7. Personal Development

• Meeting the requirements or working towards meeting the requirements in relation to a Phase I Compliance Officer as required by the Financial Sector Conduct Authority.
• Understanding and following the Aon Impact Model and taking ownership of personal development.
• Maintaining personal and professional development.

Role-specific Technical Skills, Knowledge and Experience

•     Ability to communicate effectively.
•     Be computer literate in MS Word, Excel and PowerPoint.
•     Pay attention to detail and follow-through on tasks and projects.
•     Good interpersonal and organizational skills.
•      Good conflict management and listening skills.
•     Good understanding and knowledge of the FAIS Act and relevant legislation governing the financial services industry.  
•     Good understanding of the FIC Act, and roll-out and implementation of the risk-based approach.
•     Knowledge of the Foreign Corrupt Practices Act, OFAC and the South African anti-bribery and corruption legislation will be an added advantage.
•     Be in possession of Grade 12 (Matric).
•     Have a Legal (LLB or law degree), accounting or risk qualification.
•     A post graduate qualification in Compliance Management will be an added advantage.
•     Have a minimum of 2 - 4 years’ compliance experience in the Financial or Short Term Insurance industry.
•     Have compliance experience in respect of Short Term Insurance and Long Term Insurance products.
•     Be dependable and respect confidentiality
•     Have a high work ethic and must have the ability to function effectively under pressure.
•     Be a self-starter and work with little supervision.
•     Be a team player, have the ability to build good relationships, support and actively participate in, and contribute to any team initiatives.