Compliance Officer at Momentum Metropolitan Holdings Limited

Requirements

Formal qualifications:

• Qualifications as per fit and proper requirements to be registered as a licensed compliance officer with the FSCA
• Post graduate qualification in Compliance Management
• Legal qualification
• Degree in Commercial, Risk Management, Audit, Finance, Legal, Business or related field
• On-the-job training / qualifications
• Specific licensing or registration:
• Registered with the Compliance Institute of Southern Africa
• Registered as licensed compliance officer with the FSCA

Knowledge:

• Exposure to interpretation of legislation for insurance and financial services environment
• Exposure to aspects of the compliance risk management framework.
• Understanding of the insurance and financial services industry;
• Knowledge of Regulation i.e. FAIS,FICA,POPIA, LTIA, Pension Funds Act, CoFI, FSCR
• Knowledge and understanding of the typical products offered by organisation

Experience:

• 2 - 5 Years compliance related experience
• Experience in the insurance and financial services industry (preferred)

Duties & Responsibilities

INTERNAL PROCESS:

• Execute compliance activities based on the Compliance Monitoring Plan in order to provide assurance on the level of regulatory compliance
• Monitor new regulatory mandates, rules and requirements, ensure that compliance policies are kept up to date and that revisions are disseminated in a timely manner
• Design and implement compliance training and educational programmes; actively participate in management training, including new starter induction programmes
• Provide advice on compliance with applicable laws and regulations to the business to ensure ongoing adherence and compliance.
• Assess the possible impact of any regulatory development on the operations of the business and work with the business with regard to compliance
• Conduct compliance monitoring reviews and audits based on audit schedule and ad hoc requirements as required by the Internal Auditor or business leader
• Review and monitor completed audits and follow up on any recommendations made
• Execute the regulatory compliance breach management and follow-up process in order to address the identification, analysis and resolution processes to be followed as well as the escalation procedures.
• Provide professional advice and guidance to business regarding compliance matters.
• Contribute to the initiation of critical statutory projects relevant to the business and monitor the appropriate implementation thereof by the business.
• Create awareness within business regarding new compliance requirement or provide guidance on potential impact of compliance requirements
• Support the business stakeholders identify compliance risks or weaknesses for which the business should consider additional mitigating action, or processes and/or procedures.
• Initiate, contribute and prepare the necessary documentation for the submission of business enabling statutory applications to applicable regulatory and industry or supervisory bodies
• Build relationships with internal and external stakeholders as well as the wider compliance community within the MMI Group.
• Provide input from a compliance perspective and act as trusted advisor in business projects and initiatives.
• Deliver compliance reports that highlight compliance activities and instances of non-compliance, both internal and external within agreed time frames.
• Initiate and contribute to the review of all critical business policies from a regulatory compliance perspective and make recommendations for improvement.
• Identify, assess, manage, monitor and report on compliance risks that the company face.
• Execute compliance activities based on the Risk-based compliance plan in order to provide assurance on the level of regulatory compliance.

CLIENT SERVICE:

• Build and maintain relationships with internal and external stakeholders
• Contribute to the process of negotiating objective and realistic service level agreements, monitor appropriateness and recommend adjustments
• 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

PEOPLE:

• Build strong relationships through providing specialist know-how and leadership to others, expressing positive expectations.
• Continuously develop own expertise in terms of industry and subject matter development and application thereof in an area of specialisation.
• Positively influence and manage change and offer specialist support where required.
• Contribute to continuous innovation through the development, sharing and implementation of new ideas and involvement of colleagues and staff.
• Participate and contribute to a culture of work centric thinking, productivity, service delivery and quality management.
• Take ownership for driving career development

FINANCE:

• Contribute to the development of business cases for proposal to decision-making bodies.
• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Implement and provide input into governance processes, systems and legislation within area of specialisation.
• 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.