Deputy Ombud at FAIS Ombud SA

Purpose of the Job:

• The objective of the role is to consider and assess client complaints against financial services providers in a procedurally fair, informal, economical, and expeditious manner. Applications are sought from dynamic, experienced leaders with proven experience in the financial sector and a track record of effective team management and results-driven leadership at the executive or senior management level.
• The candidate should be experienced in financial sector regulatory issues, adjudication and interpretation of laws, alternative dispute resolution, and the promotion of the fair treatment of financial customers. The person must also have extensive experience operating at the executive management level. 
• It will be an advantage if the candidate has international knowledge or experience in financial regulation or supervision and proven management experience at an executive level. The Office of the FAIS Ombud is required to contribute to ensuring that the South African financial services industry has integrity, works in the interests of financial customers, and supports balanced and sustainable economic growth in the Republic.
• Where the pre-emptive provisions of specific financial sector laws such as the Financial Sector Regulation Act and the FAIS Act have failed to ensure the protection and fair treatment of consumers through the prescriptive duties imposed on providers of financial services, the Office of the FAIS Ombud, along with other industry Ombud schemes, should play a pivotal role in the adjudication of any complaints from consumers that flow from their treatment by financial services providers.

Some key outputs include:

• Working closely with the FAIS Ombud, responsible for the day-to-day management and administration of the Office of the FAIS Ombud, including ensuring that the office has adequate skills and resources to meet its mandate and objectives,
• Drafting and issuing determinations, Leading, coaching, inspiring and mentoring senior members of the technical team to provide excellent service, achieve business goals and build team capacity for the future,
•  Monitoring the achievement of fair customer outcomes in the financial services sector and taking steps to mitigate conduct risks and abusive market practices, Complaints resolution.

Qualifications and experience required: 

• Matric. 
• A relevant postgraduate degree in law (NQF Level 8) recognised by SAQA. 
• Attorney, Advocate, or an ex-judge 
• A minimum of 10 years of relevant financial sector and senior management experience, preferably with some exposure to financial consumer protection, adjudication, and interpretation of law, and exposure to alternative dispute resolution approaches. 
• Thorough knowledge of financial sector laws, particularly the FAIS Act and its subordinate legislation.