Senior Regulatory & Compliance Analyst at Old Mutual

Purpose of the role:

The purpose of this role is to provide Regulatory Risk & Compliance advice and oversight from a second line of defence perspective for the Old Mutual Insure Group which contributes to business growth, sustainability and strategy realisation driven by the Values of the Group.

Role and responsibilities:

• Creation and maintenance of the regulatory compliance framework, processes, systems and policies
• Conduct research on regulatory and market trends
• Analyse legal requirements and convert into plain language
• Identify new and emerging regulatory (regulatory developments) trends
• Conduct a gap analysis and risk assessment on new and emerging regulatory trends identified
• Workshop regulatory developments to team and relevant stakeholders
• Execute technical monitoring through prudential review and process.
• Provide input into regulatory reports / responses to various internal Enterprise committees/boards i.e. Old Mutual Insure Executive, Board and Group Old Mutual Limited
• Plan, conduct and report on the compliance function self-assessment
• Create and update the Planning Memorandum
• Develop material for training and conduct awareness initiatives to the Compliance Function and enterprise wide
• Implement systematic approaches to compliance of regulatory risk
• Assist with the compilation of regulatory universe

Service delivery to ensure customer satisfaction

• Build and maintain relationships with 2nd line team.
• Ensure professional services are provided where expectations are managed in terms of outcomes.

Continuous improvement to ensure effective service

• Ensure adherence to organisational policies, practices and procedures.
• Identify and recommend areas / ways to improve processes.

Cost control and governance adherence

• 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.

Corporate Governance to ensure adequacy and effectiveness of internal controls

• Ensure that risks and events are identified; owned; assessed; reported and managed within the 2nd Line of Defence.
• Timely escalation of non-compliance, material risks and events in line with the Escalation Policy/Standard and supported by recommendations of remediation plans.

Minimum Requirements

Qualification

• BA/BCom degree or equivalent;
• LLB degree or
• Postgraduate Diploma in Compliance Management (preferred) and
• RE1 and RE 5
• CISA CPrac (beneficial)

Experience

• 5 minimum compliance management experience in the financial industry
• 7 years relevant experience in a regulatory risk & compliance role, in Short Term Insurance (STI).  Operational STI experience is advantageous.

Skills & Knowledge

• Proven research experience
• In depth knowledge of FAIS, Insurance Act, Short-term Insurance Act, POPIA, subordinate insurance legislation & regulatory developments
• Understanding of the overall dynamics of the insurance and financial services industries.
• Sound understanding of the business of intermediaries and binder holders. Sound understanding of regulatory and compliance issues pertinent to the Short- Term Insurance.
• Business acumen.
• Advanced numeracy.
• Service and delivery orientated
• Attention to detail
• Analytical thinking
• Lateral thinker
• Professional attitude and approach
• Excellent interpersonal skills
• Strong presentation skills
• Strong client orientation

Old Mutual Insure, reserves the right to make an appointment in line with our Employment Equity policy.