Legal and Compliance Specialist at Sanlam Group

Who are we?

Sanlam Developing Markets (SDM) (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. There are four businesses within the SA Retail Mass cluster, namely; Group Benefits, Individual Life, Safrican Insurance and African Rainbow Life.

What will you do?

Determine complaints root cause of complaints, analyse trends and provide corrective measures where applicable. To provide legal and compliance support to the Complaints specialist. Draft responses for all Complaints. Draft legal documents and provide support to group benefits staff on all compliance matters pertaining to the business and complaints related issues.

What will make you successful in this role?
Group Benefits

• Drafting legal responses to Complaints. Vetting of fraud allegation complaint responses, vetting of policy terms and conditions; drafting policy documents terms and conditions; ensuring that all legal documents are compliant with all applicable legislation; vetting of legal agreements related to the division;

Group Benefits Staff

• Provide legal and technical advice and support to the GB staff on all legal matters pertaining to the business, TCF, policy provisions as well as general advice relating to products.

External Providers

• Relationship management by liaising with FAIS Ombud, Long Term Insurance Ombudsman, Attorneys and 3rd Party Administrators.

Drafting Agreement

• Drafting and reviewing of Binder Agreements, Broker Agreements, Agreements to Underwrite
• Drafting and reviewing of voluntary and compulsory group policies
• Parties are correctly cited
• Ensure document accuracy, are drafted within agreed timelines, comply with current legislation and that legal documents are aligned with business structures, processes & procedures

Compliance Function

• Provide support to Sky Compliance, for purposes of monitoring and reporting on Sanlam Sky Group Benefits (“GB”) business
• Maintain an internal representative register for all additions and removals of representatives and further communicate all removals and/or additions to the Financial Sector Conduct Authority (“FSCA”) for the central representatives register to be maintained accordingly
• Submit all applications and profile changes in terms of the FAIS Act to the FSCA
• Ensure that all Key Individuals and Representatives fully comply with the Determination of Fit and Proper Requirements in terms of the FAIS Act and maintain a competence register in this regard
• Monitor the BBBEE status of Binder Holders and where a Binder Holder is not in possession of a BBBEE certificate, ensure process to assist the Binder Holder to achieve its transformation goals is implemented
• Provide support to GB business in respect of compliance with customer due diligence provisions (as set out in FICA Amendment Act)
• Attend to general compliance matters within the GB

Dealing with Complaints and drafting OLTI complaints

• Receive a complete, fully investigated complaints file from Complaint Specialist
• Compile all responses to complaints and forward for checking to the Legal Advisor for checking
• Draft formal and comprehensive responses and address all issues raised by the client including any legal issues
• Accurately apply ILAC i.e. identifying the Issue, the applicable Law, accurately Applying the Law to the Issue and providing correct Conclusion that takes into account TCF
• Ensure complaints registers (Master and Daily) are accurately completed by Complaints Specialist and is up to date (new cases to be loaded within 24 hours of receipt)
• Vetting of fraud allegation responses drafted by Complaints Administrator and the Complaints Specialist are accurate, correct and responded to timeously
• Facilitate and maintain an effective TCF approach to the handling of GB complaints
• Assist Complaint Specialist with determining of Root Causes and analyse trends on all complaints

Monthly Reporting

• Provide monthly reports to Manager timeously
• Ensure report is accurate
• Ensure stats on the complaints report is accurate and correct
• Provide Compliance highlights and low lights to Legal Manager

Ad hoc tasks

• Attending to ad hoc tasks timeously and appropriately

Qualification & Experience

• Matric
• Legal degree with drafting experience
• Minimum of 3 years in group life insurance
• Compliance experience of more than 2 years.
• Computer literacy
• MS Office
• Well-developed communication skills both written and verbal