Internal Governance Officer: SLS: Sanlam Risk & Savings: Bellville: PG 11-12 at Sanlam Group

Job Purpose

• This exciting career opportunity is responsible to ensure implementation of compliance across the business value chain for Sanlam Risk and Savings and other Sanlam Life & Savings businesses for certain regulations where Risk and Savings take the lead e.g. PDD Remediation of the Sanlam Life client base.
• Businesses impacted include Sanlam Risk and Savings Sanlam Life Investments, Glacier Single Premium and Business Shared Services.  Formalise and communicate regulatory requirements (AML, CTF and PF) to ensure compliance.
• Implement and uphold company policies and procedures that relates to best practice to maintain corporate governance and competitive edge.
• Manage a team of AML Analysts with the purpose of ensuring compliance to FICA and related legislation.

What will you do?

FICA and Similar AML Legislation

• Ensure business always screens against most recent watch lists.
• Monitor PEP’s and high-risk clients on an ongoing basis – strategically and operationally.

Report suspicious transactions to Anti-Money Laundering Reporting Officer:

• Conduct periodic internal reviews or audits to ensure that compliance procedures are followed.
• Perform Enhanced Due Diligence QA / checks on high-risk clients.
• Monitor Dynamic Risk assessment reports to recommend changes if required.

Management reporting:

• Monitor 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 for business based on Group Compliance Officer requirements.
• Manage the Party Due Diligence (PDD) department to make structural and strategic decisions which include PDD Analysts, FICA Specialists and a Compliance Administrative Assistant.
• Assist PDD Analysts from an administration point of view with the focus on productivity.

Monitor regulations that impact Life & Savings businesses: 

• Assist with implementation thereof.
• Represent SRS in various regulatory forums.
• Liaison person between PDD Analysts and businesses to review efficiency and compliance implementation.

Assist senior management and Business Shared Services (BSS) with monitoring of remediation project(s):

• Includes monitoring of remediation progress and deadlines.
• Monitoring of data quality.
• Extraction of reports.

Liaison with SLS AML CoE:

• Submission of quarterly reports.
• Submission of b-annual reports to the Prudential Authority.
• Update and submission of SRS Static Risk Assessment.
• Input and implementation of Dynamic Risk Assessment.
• Track remediation projects and report to AML CoE and SLS Compliance.
• Submission of foreign legislation reports in terms of AML (Jersey).

Liaison with SLS Compliance:

• Monthly meetings with Compliance Officer.
• Scrutiny and response to compliance findings and thematic reviews.

Training with reference to the following:

• Newcomers to SRS.
• Training to other business units e.g. BSS to ensure consistency with SLS.
• Ad-hoc training for PDD Analysts and FICA Specialists.

POPIA

• Development and maintenance of policies and processes relating to the relevant privacy regulation.
• Liaison between SRS and Data Privacy.
• Quarterly reports and attendance at SLS Data Forum.
• Scrutiny and response to compliance findings and thematic reviews.
• Ad hoc training when required.

FSCA/ CSR

• Development and maintenance of policies and processes relating to the relevant regulation and gathering of tax information.
• Liaison between SRS and BSS for reporting to SARS on an annual basis.
• Tax submission to foreign tax authority on an annual basis.
• Scrutiny and response to compliance findings and thematic reviews.

Outsourcing

• Development and maintenance of policies and processes relating to the relevant regulation.
• Quarterly reports for submission to SRS F&R and SLS F&R.
• Maintenance of SRS Outsourcing Register.
• Scrutiny and response to compliance findings and thematic reviews.
• Input and due diligence for all new and existing contracts.

General

• Investigate and remediate compliance audit findings.
• Participation in projects within SLS for implementation of new or amendment of existing legislation.

What will make you successful in this role?

Qualifications:

• B. Juris / BA Law / B. Proc / LLB / BCom or other commercial degree.
• Certificate or Diploma in Commercial Management or Financial Planning.
• Meet the FAIS Fit & Proper requirements to be a FSCA registered Compliance Officer (Cat I) will be an advantage.

Experience:

• At least 3 years’ regulatory experience in compliance, legal and risk management within the Financial Services industry.
• At least 2 years’ experience in managing people.
• Experience within Sanlam’s compliance, legal and risk management processes will be an advantage.

Knowledge: 

• Knowledge of compliance monitoring, risk management and review programmes within the Insurance industry.
• Thorough understanding and knowledge of the regulatory requirements impacting business, specifically FAIS, FICA, POPIA, LTIA, PPR, FATCA, CRS.
• Knowledge of the management of business processes, distribution and product house channels.
• Understanding of the Savings, Risk & Closed Book businesses will be an advantage.

 Competencies:

• Excellent leadership skills
• Communicates effectively
• Presentation skills
• Business acumen
• Decision quality
• Analytical thinking
• Cultivates innovation
• Order and accuracy
• Plans and aligns
• Drives results
• Customer focus
• Collaborates
• Influencing / gaining commitment
• Negotiation skills
• Independence
• Being resilient
• Computer skills (MS Office)