Life & Savings: Compliance Officer at Sanlam Group

What will you do?

Sanlam Developing Markets is responsible for Sanlam’s retail business in South Africa. Sanlam Developing Markets provides clients across different market segments (entry-level, middle-income, affluent, professional market and business owners) with a comprehensive range of appropriate and competitive financial solutions. These include traditional life insurance risk and savings products, investment, retirement, health and fiduciary services. Designed to facilitate long-term wealth creation, protection and niche financing, these solutions are engineered around client needs. 

As Wealthsmiths™ we believe in creating and cultivating a positive, energised working environment that gives you every opportunity to achieve success. Sanlam is committed to transformation and embracing diversity. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society as well as people with disabilities.

What will make you successful in this role?

• Analyse and interpret regulation and legislation, and using a risk-based approach.

• Identification and risk rating of applicable  laws and regulations for responsible business units; 

• Development and implementation of compliance/legislative universe for responsible business units

• Development and implementation of Compliance Risk Management Plans (CRMPs) for core legislative and regulatory provisions;

• Compiling monitoring plans indicating the compliance monitoring methodology used and the frequency thereof;

• Compiling monitoring reports on the results of monitoring; 

• Incident reporting, to ensure timeous escalation of compliance risks and incidents, 

• Interpret regulation and legislation and assist business units with practical implementation thereof 

• Advise and provide guidance to management on systems, policies, processes and controls implemented to enable compliance.

• Research and communicate applicable legislative developments to all stakeholders

• Assist with the promotion of a culture of compliance and awareness within Sanlam Developing Markets and actively participating in compliance projects and training initiatives.

• Provide training on regulatory requirements to channels

Qualification and Experience

• A legal or commercial degree 

• Compliance qualification, PG Diploma in Compliance Management would be advantageous. 

• Meeting the competence, qualifications and experience requirements to be registered as a Compliance Officer with the Financial Sector Conduct Authority would be advantageous

• 3-6 years’ experience as a Compliance Officer in the Financial Services Industry

• Knowledge of the financial services industry, especially insurance

• A thorough understanding and knowledge of compliance risk management and monitoring programmes

• A thorough understanding and knowledge of the regulatory requirements impacting on the various businesses  (e.g. FAIS, FICA, LTIA, PPR, POPIA) will be advantageous

Knowledge and Skills

• Compliance and legal projects management 

• Compliance advice and training

• Documentation reviews

• Risk Management

• Compliance montoring and reporting

• Analytical thinking

• Decision making skills

• The ability to manage people and processes effectively in instances where non-compliance is identified

• Technical professional skills

• Report writing skills

• Thorough and detail minded

• Ethical and principled

• Good communication and presentation skills

Personal Attributes

• Business insight - Contributing through others
• Manages complexity - Contributing through others
• Persuades - Contributing through others
• Builds networks - Contributing through others

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping  our employees to realise their worth. Through its four business clusters – Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Core Competencies

• Being resilient - Contributing through others
• Collaborates - Contributing through others
• Cultivates innovation - Contributing through others
• Customer focus - Contributing through others
• Drives results - Contributing through others

Turnaround time

• The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. 

The closing date for applications is 1 October 2021

Our commitment to transformation

The Sanlam Group is committed to achieving transformation and embraces diversity.  This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa.  The Group's Employment Equity plan and targets will be considered as part of the selection process.