Risk and Compliance Specialist at Two Mountains

Purpose of the Job

Identify, evaluate, monitor, and communicate the Two Mountains Group Legal, QA, Risk, Compliance management activities to manage the organizational exposure to risks. Ensure that the organization’s risk and compliance management framework and component policies are effectively implemented and applied. Be the subject matter in the business on risk and compliance issues.

Key Outputs

Risk Management and Quality Assurance

• Establish a sound compliance and risk management culture through awareness campaigns to influence behavior and drive the importance of risk mitigation.
• Support the Two Mountains Underwriters Claims process.
• Define and implement fit-for purpose solutions to mitigate identified risks and ensure compliance with applicable regulations and legislation (FAIS. AML, Insurance Act, etc.).
• Develop, implement, and maintain a risk register to ensure that all risks are identified and monitored.
• Conduct risk assessment to identify risk exposure and mitigation plans.
• Enhanced controlled environment to mitigate Fraud Risk exposure.
• Participate in risk and management committees, risk and compliance forums and manage related activities.
• Translate strategies into actionable goals and execute projects/ initiatives aligned to strategic objectives with specific performance measures and control systems to track progress.
• Define and implement business performance and risk management methodologies.
• Manage operational risks on a day – to- day basis by understanding key processes, risk identification, risk analysis and monitoring risk activities.
• Manage SLA and collaborate with second line risk teams to ensure required service levels are delivered within the organization.

Compliance Management

• Prioritize compliance risk assessment as part of compliance monitoring.
• Ensure that the business is complying with applicable legislation, conduct legislative training when required.
• Conduct regular assessments of compliance with all relevant compliance legislation and requirements.
• Develop and implement controls and procedures to meet regulatory and best practice requirements.
• Conduct investigations to determine root cause of compliance issues.
• Maintain expert knowledge on relevant legislative amendments, industry best practices and provision of proactive advice and solutions to relevant stakeholders.
• Collaborate with second line compliance teams to ensure required service levels are delivered.

Business Resilience/ Continuity

• Effective crisis management (internal/external threats, as per Risk Scenario Planning).
• Improve business resilience compliance across the group.

Governance

• Ensure that the business is operating in the correct governance framework.
• Review and update policies, procedures, and tools in line with established framework.
• Support with the preparation of Risk Governance reports as required.

Minimum Qualifications:

• Matric with related tertiary qualification: Bachelor of Administration, Bachelor of Finance, Bachelor of Law.
• A professional qualification will be advantageous.

Experience Required:

• 3-5 years relevant Risk, Compliance and Regulatory experience is mandatory.
• Working experience within the Financial Services industry preferred.

Technical Competencies

• Excellent written and verbal communications skills.
• Good understanding of legislation impacting industry and specific FAIS.
• Understanding audit methodology an advantage.
• Computer literate and proficient with MS Office programs, e.g. Word, Excel, PowerPoint.
• Ability to plan and prioritize effectively.
• Work effectively with internal and external colleagues and clients to accomplish organizational and team goals.

Behavioural Competencies

• Risk Management
• Compliance Management
• Quality Assurance
• Collaboration
• Innovative and independent thinker
• Relationship building
• Pro-active, self-motivated and results oriented.
• Team player.