Manager - First Line Risk and Compliance at Old Mutual

Job Description

• Responsible for management support for the Risk and Compliance function internally within the business unit and externally to clients and Group functions.
• The role entails a focused approach on managing the adherence to the regulatory and risk requirements following core risk and compliance methodologies.
• Responsible for the implementing Compliance and Risk management plans, policies, processes and monitoring to ensure the organisation complies with laws, regulations, statutory and supervisory requirements.
• Responsible for the delivery of key Risk and Compliance initiatives that will ensure adherence to regulatory and risk requirements.

Drive and champion governance, risk & compliance leading practices 

• Provide reports on a regular basis to keep respective governance structures informed of the operation and progress of compliance efforts.
• Develop and monitor key risk indicators that are mapped to various risks to determine elevations in risk and proactively implement risk mitigation measures.
• Responsible for analysing the key regulatory universe and advising the business and the cells on how to adhere to the requirements.
• Regularly monitor and report on compliance to Group Policies and Processes, Procedures and Standards. Escalate and find resolution for areas of non-compliance. 
• Regularly evaluate the adequacy and effectiveness of policies, procedures, processes, systems and internal controls.
• Implement policies and procedures designed to mitigate exposure and enhance compliance activities.
• Conduct risk analysis, modelling and scenario stress testing to assess the effectiveness of existing controls given current and future legislative, regulatory and/or statutory amendments.
• Monitor compliance with applicable regulatory requirements relevant to the organization and its products and/or services.
• Identify potential areas of compliance vulnerability and risk; develop and implement corrective action plans for resolution of problematic issues.
• Provide general guidance around new product and marketing developments from a compliance point of view.
• Define and implement processes and procedures to ensure that all regulatory and compliance risks are identified.
• Develop and maintain a system/tool(s) that support the ease of data collection, consolidation and submission for audit purposes.
• Develop regular risk assessments and performance and provide the updates to key stakeholders/customers.
• Act as an independent review and evaluation body to ensure that compliance issues/concerns within the organization are being appropriately evaluated, investigated and resolved.
• Provide reports and feedback on a regular basis to keep respective governance structures informed of the operation and progress of compliance efforts.
• Forward-looking planning to pre-empt regulatory information request and analysis required to enhance conduct and regulatory environment.
• Provide technical inputs and provide support on risk and compliance in strategic/non-strategic projects.
• Responsible for regulatory evidence collation, reporting and monitoring.
• Identify, plan, facilitate and communicate training requirements and encourage awareness.

Service delivery to customer satisfaction

• Build and maintain relationships with second and third lines of defense. 
• Manage the SLA with second line compliance. Collaborate and work with second line risk and compliance teams to ensure required service levels are delivered.
• Ensure statutory and legislative knowledge is always current in order to resolve customer complaints, to advise on corrective solutions to mitigate risks and to improve the customer experience whilst complying with governance requirements.
• Maintain service, quality and desired outputs within a specific functional process through ensuring compliance to tactical policies, procedures and standards.
• Establish productive operational relationships with key stakeholders in the various channels and administrative teams.
• Develop work routines in line with operational plans / schedules in order to manage achievement of service delivery goals.
• Share knowledge on, and participate in the creation of new
• standards, control systems and procedures to maintain service delivery.

Continuous improvement to ensure effective service

• Assist with analysis of data and trends to ensure that effective actions can be implemented.
• Conduct Risk-based root cause analysis to identify initiatives to remediate systemic issues.
• Post reporting and review to identify mitigation activities required.
• Ensure adherence to organisational policies, practices, guides, mandates and procedures.

Cost control and governance adherence

• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Proactively ensure use of time, of resources, money, materials or equipment is in line with policies and procedures.
• Comply with corporate governance policies, procedures and standards.
• Operate within agreed mandates.
• Contribute to the development and implementation of fit for purpose budgets.

Manage quality people practices

• Align own behaviour with the organisation culture and values.
• Share and transfer product, process and systems knowledge to colleagues and team members.
• Collaborate and work with the business to deliver required service levels.
• Actively share information with other team members regarding successes, issues, trends and ideas.

Experience, knowledge & skills required

• Bachelor’s degree in risk management, LLB or Relevant law related degree or qualification.
• 5-8 years’ experience in a Compliance & Risk management role within the Non-life Insurance industry.
• 5-8 years’ project planning, managing, reporting and stakeholder management experience required.

Skills

• Compliance Software,
• Data Compilation
• Engineering Standards
• Executing Plans
• Legal Practices
• Performance Management Design
• Policies & Procedures
• Procurement Performance
• Project Quality Management
• QA Methodologies
• Regulatory Compliance Management
• Requirements Development

Competencies

• Balances Stakeholders
• Communicates Effectively
• Financial Acumen
• Instills Trust
• Interpersonal Savvy
• Manages Ambiguity
• Manages Complexity
• Optimizes Work Processes

Education

• NQF Level 7 - Degree, Advance Diploma or Postgraduate Certificate or equivalent

Closing Date

• 09 June 2025 , 23:59