Internal Compliance Officer - Umsuka Wemali at Fidelity Services Group

Internal Compliance Officer

A position for an Internal Compliance Officer exists at the Insurance Department, reporting to the Group Insurance Manager.  The overall purpose of this position is to ensure compliance with the relevant insurance legislation. There are a number of different revenue streams within the insurance department and the incumbent will need to have strong interpersonal and technical skills to assist in driving these various revenue streams to contribute to the growth and profitability of the Group by providing excellent service and maintaining relationships. The insurance department oversees three Financial Services Providers (FSP). Two of the FSPs are licensed for short term, commercial lines. One FSP is licensed in short term, personal lines and long term. The incumbent needs to be technically proficient in compliance oversight with a good grasp of the relevant legislation and attention to detail. It would be advantageous if the incumbent has experience in the credit lending section of the financial services industry. The incumbent will be registered as a representative in the relevant FSPs.

Qualifications, experience and other competencies required:

• Matric Certificate.
• Must comply with the Key Individual qualification requirements set out in the Determination of Fit and Proper Requirements for Financial Services Providers for the classes:
• Short term – personal lines
• Short term – commercial lines
• Long term - category
• Excellent admin and interpersonal skills.
• Excellent computer literacy.
• Multilingual.
• Must have own transportation.

Key areas of responsibility: (Not totally inclusive)

• There are approximately 32 call center and other staff who need to come onto the license under supervision. The incumbent will be required to take a number of these staff under supervision and fulfil the supervision function until the staff achieve qualification.
• The ongoing drafting and review of policies and procedures.
• The ongoing drafting and review of policy documentation.
• Drive and oversee the achievement of the Treating Customers Fairly outcomes.
• Ongoing sampling of the enter into, amend and renew portion of the FSPs binder function with the product provider.
• Assistance with the compiling of a monthly market conduct report.
• Assist with the oversight of risk management in the FSPs.
• Assist with risk management in the Group.
• Support the Group Insurance Manager in
• assessing the insurance requirements of the Group;
• compiling the relevant proposal information;
• sourcing terms from underwriters; and
• placing cover.
• General Ad-hoc duties as required in the insurance department as and when required.
• General office duties.
• Representative functions.

Core Competencies:

• Pro-active and a team player
• Customer focus and good communicator
• Reliable and honest
• Technical skill in the corporate insurance field
• Good attention to detail
• Ability to work under pressure and meet deadlines.
• General knowledge of the insurance legislation affecting the relevant FSPs.