Compliance Manager at Rand Mutual - RMA

THE PURPOSE

Reporting into the CRO, the Compliance Manager will be responsible for driving regulatory compliance across the RMA group by assisting the CRO in strategically developing and implementing regulatory compliance strategy, framework, policies, and process. This includes amongst others, providing guidance, training, and support on the implementation, monitoring adherence, driving projects on the material/core regulations and/or changes in the applicable regulations.

QUALIFICATIONS AND EXPERIENCE:

• At least 5 to 10 years compliance experience and working experience within an insurance or financial institution
• At least 5 years within managerial experience in the compliance function
• Legal Degree / Compliance qualification an advantage post graduate degree
• Admission as an attorney or advocate
• Registered as a Compliance Officer with the FSCA and CISA
• FSCA Regulatory Exam (RE1) required
• Professional Compliance Designations i.e. CPRAC(SA) or CPROF(SA) an advantage

KEY AREAS OF RESPONSIBILITY:

• Build and develop a strong compliance and internal control environment and culture
• Develop and implement the compliance management strategy
• Facilitate a compliance culture that contributes to the overall objective of prudent risk management by the organisation
• Create a formal compliance training and awareness plan for the year for the entire organisation
• Design and develop the compliance Governance, framework, methodologies and related policies and standards
• Drive the implementation and maintenance of an effective regulatory compliance infrastructure, framework, and plan
• Coordinate the identification and management of the compliance risk
• Establish appropriate compliance risk indicators for better monitoring
• Assist the CRO in providing relevant advice on regulatory compliance to the senior management and the board
• Having a strong presence and effective engagement at the senior management level
• Maintain acceptable relationships with Risk Committee, Exco and Management Teams
• Oversee the regulatory compliance process, monitoring, and reporting
• Independent monitoring and reporting to the related stakeholders, particularly at Exco and Board level
• Continuous monitoring of the regulatory environment and appropriate responses to changes and development
• Provide directions on the regulatory changes and create forums, processes to equip the implementation of the changes
• Assist the organisation in a proper project management principle that will ensure effective implementation of the regulation requirements
• Oversee the day to day management of the compliance function
• Supervise the activities of the compliance function
• Ensure that compliance staff, including the divisional compliance, that are continuously trained
• Conduct compliance performance review for compliance staff
• Lead, motive, manage, supervise and train staff to ensure ownership and development for the benefit of business execution
• Develop annual KPA’s for staff
• Ensure effective performance management is carried out
• Pursue opportunities to develop existing and new skills outside of comfort zone for staff
• Act to resolve issues which prevent effective team working, even during times of change and uncertainty
• Coach others and encourage them to take ownership of their development
• Review compliance and audit findings and rectify identified issues

KNOWLEDGE, SKILLS AND COMPETENCIES:

• Knowledge of developing compliance management strategy, framework, plans policies, processes, and procedures
• Experience in engaging and reporting at a Senior management and Board Level
• Legal compliance experience and knowledge.
• Leadership/management skills
• Knowledge of the Insurance Act including Short-term insurance and Long-term insurance
• Good working knowledge of FAIS is required
• Practical knowledge of applicable insurance and related legislation
• Ability to interface with Regulators
• Functional Knowledge of COIDA
• Excellent verbal communication and writing skills
• Ability to work under pressure and meet deadlines
• Good presentation skills and ability to interact with senior management
• Experience in compiling compliance reports
• Knowledge of industry best practices and professional standards
• Implementation of key regulatory projects
• Verbal and written communication
• Presentation skills
• Ethical behaviour (honesty/integrity)
• Objectivity
• Judgement and Decision-making
• Stress handling
• Teamwork/collaboration
• Rule-orientation
• Attention to detail