Assistant Compliance Officer

This role assists the business unit Compliance Officer to establish & embed a culture of compliance across the business unit through the development of compliance risk management & monitoring plans. Ensures that applicable legislation is being complied with by staff across the business unit. Regularly reviews & monitors compliance processes as well as day-to-day compliance to legislation & regulations. Has a direct reporting line to the business unit Compliance Officer.

Responsibilities:

• Understand and stay abreast of all legislation impacting the business, including assessing the impact of new legislation timeously.
• Interpret that legislation and apply it practically within the business by assisting to implement it within business processes.
• Answering questions from operations and being able to apply the legislation practically and finding solutions for the teams.
• Review, update and implement the compliance risk management plan.
• Compliance monitoring.
• Assist with interactions with Regulators relating to licensing requirements, maintenance, and reporting as well as inspections and reviews.
• Create and maintain a strong relationship with the business which will aid in fostering a positive compliance culture.
• Communicate legislative requirements, assist with the resolution of queries, provide opinions on various scenarios.
• Consolidate and manage all compliance deliverables across servicing areas and other BU reporting requirements.
• Reports on compliance breaches to BU / functional areas management and Compliance Officer.
• Facilitates resolution of compliance breaches.
• Assists in mitigation of compliance risk.
• Reports to the Compliance Officer.
• Utilises a wide scope of applicable legislation, including all primary legislation.
• Create a culture of awareness regarding Compliance and Regulatory issues and assists business to implement the necessary controls.
• Undertake compliance monitoring tasks and activities on compliance monitoring systems and applications.
• Drafting of reports.
• Following up on remediation in breaches.
• Representation at various board meetings.
• Management of stakeholders.
• Developing and building key relationships.
• Gap Analysis on impacts of new regulatory changes.
• Pro-active and self-starter.
• Knowledge of regulatory landscape in financial services.

Role Requirements:

• Grade 12.
• Minimum qualifications and experience as specified by regulation.
• Retirement Funds Knowledge is Preferred.
• Compliance Qualifications is advantageous.
• Relevant compliance experience in the Financial Services industry.
• Working knowledge and understanding of short and long term insurance, Pensions Fund Act.