Internal Governance Officer at Sanlam Group

What will make you successful in this role?

Job Purpose:

• This exciting career opportunity is responsible to ensure implementation of compliance across the business value chain for Sanlam Recurring Savings and Closed Book and other Retail Affluent businesses for certain regulations where Business Shared Services takes the lead e.g. PDD Remediation of the Sanlam Life client base, implementation of all compliance functions and requirements for the Life and Savings business.
• Businesses impacted include Sanlam Recurring Savings & Closed Book, Sanlam Individual Life and Sanlam Life Investments.  Formalise and communicate regulatory requirements to ensure compliance by PDD Analysts to ensure due diligence prior to transacting and during the course of the business relationship.
• Ensure businesses have clear knowledge and understanding of the regulatory framework of the Life and Savings Business and the Monitoring and review thereof.  
• Implement and uphold company policies and procedures that relates to best practice in order to maintain corporate governance and competitive edge.

Output/Core Tasks:

• Ensure business always screens against most recent watch lists
• Ongoing monitoring of politically exposed person’s and high-risk clients – strategically and operationally
• Suspicious transaction reporting to Anti-Money Laundering Reporting Officer
• Conduct periodic internal reviews or audits to ensure that compliance procedures are followed
• Perform Enhanced Due Diligence Quality Assurance / checks on high risk clients 
• Monitor Dynamic Risk assessment reports to recommend changes, if need be

Management reporting:

• Monitoring purpose - Preparation of monthly and quarterly Compliance Reports
• Maintain regulatory or compliance documentation.
• Analyse risks to minimize losses or damages.
•  Identify opportunities for enhancement of policies, standards and controls for potential improvements in training and communication programs.
• Provide recommendations to business based on Group compliance office requirements
• Review of the Party Due Diligence department in order to make structural and strategic decisions
• Assist the Party Due Diligence Analysts administratively (excluding productivity)
• Responsible for management of Party Due Diligence Analysts
• Monitoring of regulations that impact Life and Savings businesses
• Assist with implementation thereof
• Represent Savings and Closed Book business in various regulatory forums
• Liaison person between Party Due Diligence Analysts and businesses to review efficiency and compliance implementation
• Assist senior management with monitoring of remediation project(s)
• Includes monitoring of Remediation progress and deadlines 
• Monitoring of data quality
• Extraction of reports
• Investigate and remediate compliance audit findings
• Assist business with implementation and vesting of Policy Protection Rules, Governance and Operational standards for Insurers, Protection of Personal Information Act and other regulations
• Represent recurring Sanlam Savings and Closed Book business in various compliance forums

Role Requirements

Qualifications:

• B. Juris / BA Law / B. Proc / LLB / BCom / Other commercial degree will be advantageous
• Certificate or Diploma in Compliance Management or Financial Planning will be advantageous
• Meet the Financial Advisory and Intermediary Service Act and Proper requirements to be a Financial Sector Conduct Authority registered Compliance Officer (Cat I) will be advantageous

Knowledge:  

•  Knowledge of the Compliance monitoring; risk management and review programmes within the Financial services Industry, especially insurance.
•  A thorough understanding and knowledge of the regulatory requirements impacting on the business, specifically Financial Advisory and Intermediary Service Act, Financial Intelligence Centre Act, Protection of Personal Information Act, Long Term Insurance Act, Policyholder Protection Rules 
• Knowledge of the management of business processes, distribution and product house channels Understanding of the Savings and Closed Book business will be advantageou

Experience:

• At least 3 years relevant experience in Compliance, Legal and Risk management within the Financial Services industry 
• Experience with Sanlam’s Compliance, Legal or Risk management processes is an advantage 
• Regulatory experience
• Good business acumen
• Sanlam Life business