Due Diligence Monitoring Officer - Discovery Life at Discovery Limited

Key Purpose

The purpose of this role is to effectively and productively assist Discovery in managing its responsibility to comply with all the regulatory requirements and minimise the compliance risks identified in business. The role is to assess compliance documents with FAIS as it relates to advice documentation. This is a 1st line of defence function and must ensure that Representatives follow the applicable regulatory and operational requirements in terms of the advice process when rendering financial services to clients.

Areas of responsibility may include but not limited to:

• The incumbent must have a clear and in depth understanding of the Discovery shared value model and the specific businesses within scope, to be able to make decision that will drive compliance deliverables and promotes successful outcomes to these business areas
• Monitor compliance with laws, regulations and internal policies
• Identify and report on risks, irregularities and non-compliance
• Contribute to effective compliance controls within the organisation
• Make quick, clear decisions which may include tough choices or considered risks
• Identification and evaluation of compliance exposures/regulatory breaches in line with the Due Diligence standards e.g. Reporting and Incident management
• Maintain strong working relationships with line management, Group Compliance and with and team members
• Actively promote internal compliance collaboration between the different functions and teams
• Perform monitoring reviews in line with Compliance Methodology, Guidelines and Standards
• Draft and produce finalised working papers and evidence for all components of work, as per standards set in the Compliance Methodology
• Agree detailed findings with management, and provide appropriate recommendations for management actions
• Follow up on recommended corrective actions, any outstanding monitoring issues and management actions
• Identification of process gaps in the various areas of responsibility and report to line management

Education and Experience

Essential

• Matric
• Recognized compliance qualification from accredited institution (e.g. Compliance Management Certificate, Wealth Management etc.)
• At least 1 years of working experience in a Compliance role

Advantageous

• At least 1 year of monitoring and quality assurance experience in the Financial services environment
• Certificate in Compliance Management
• Post Graduate degree (in a compliance related field)
• RE 1 and/or RE5

Technical Skills and Knowledge

Essential

• Proficiency in MS Word, MS Excel, MS Outlook.
• Solid Verbal & written communication
• Attention to detail
• Problem solving
• Deadline driven
• Report writing skills;
• Advanced knowledge and interpretation of the FAIS General Code of Conduct Act requirements.
• Ability to make decisions and provide considered and consistent feedback (Escalations);
• Able to work well under pressure;
• Resolve disagreement, escalations and conflict situations in a constructive and professional manner;

Advantageous

• Knowledge of the Financial Services Industry
• Knowledge of Business Procedures, Rules, Processes and Controls