Compliance Manager (Insurance)

Placements24; Mbombela (Nelspruit); On-site; ZAR 900,000 - 1,200,000; Full time

Benefits offered by this job

Medical aid

Retirement fund

Job summary

Placements24 is seeking an experienced Compliance Manager for a leading financial services group in Nelspruit, Mpumalanga. The role focuses on developing and overseeing the compliance program for the South Africa’s insurance sector.

You will guide business units, manage regulatory relationships, deliver training, and lead audits to maintain trust and regulatory alignment for the organization.

Qualifications

• Bachelor's degree in Law, Finance, Business Administration or related field.
• Postgraduate qualification in Compliance or relevant professional certifications.
• Minimum of 6 years of experience in compliance, legal or audit roles with insurance focus.
• In-depth knowledge of South African insurance legislation (Insurance Act, FAIS, FICA).
• Strong understanding of risk management principles and frameworks.

Responsibilities

• Develop, implement, and maintain a comprehensive compliance management system.
• Monitor changes in legislation/regulations affecting insurance and assess impact.
• Develop and deliver compliance training programs to employees at all levels.
• Conduct regular compliance audits and risk assessments.
• Investigate potential compliance breaches and recommend corrective actions.
• Act as primary contact for regulatory bodies such as FSCA.
• Prepare and submit regulatory reports.
• Advise senior management on compliance matters and emerging risks.
• Ensure policies and procedures are up-to-date and effectively implemented.
• Promote a strong culture of compliance throughout the organization.

Education

Bachelor's degree in Law, Finance, or related field

Postgraduate qualification in Compliance

Job description

About the Role

Our client, a leading financial services group specializing in insurance, is seeking an experienced Compliance Manager for their operations in Nelspruit, Mpumalanga. This critical role ensures the company adheres to all applicable laws, regulations, and internal policies governing the insurance industry. The Compliance Manager will be responsible for developing, implementing, and overseeing the compliance program, providing guidance to all business units, and managing regulatory relationships. This position is integral to maintaining the company's integrity and reputation in the Mpumalanga region. The role requires a dedicated professional who can navigate the complex regulatory landscape of South Africa's insurance sector.

Key Responsibilities

• Develop, implement, and maintain a comprehensive compliance management system.
• Monitor changes in legislation and regulations affecting the insurance industry and assess their impact.
• Develop and deliver compliance training programs to employees at all levels.
• Conduct regular compliance audits and risk assessments.
• Investigate potential compliance breaches and recommend corrective actions.
• Act as the primary point of contact for regulatory bodies, such as the Financial Sector Conduct Authority (FSCA).
• Prepare and submit regulatory reports.
• Advise senior management on compliance matters and emerging risks.
• Ensure the company's policies and procedures are up-to-date and effectively implemented.
• Promote a strong culture of compliance throughout the organization.

Requirements

• Bachelor's degree in Law, Finance, Business Administration, or a related field.
• A postgraduate qualification in Compliance or relevant professional certifications are highly advantageous.
• A minimum of 6 years of experience in compliance, legal, or audit roles, with a significant focus on the insurance industry.
• In-depth knowledge of South African insurance legislation, including the Insurance Act, FAIS Act, and FICA.
• Strong understanding of risk management principles and frameworks.
• Excellent analytical, problem-solving, and decision-making skills.
• Exceptional communication, interpersonal, and presentation skills.
• Experience in managing regulatory relationships and inspections.
• Ability to work independently and lead cross-functional initiatives.

Benefits

• Our client offers a competitive salary package, performance bonuses, and comprehensive benefits including medical aid and a retirement fund.
• Opportunities for professional development, including attending industry seminars and further qualifications, are provided.
• This role is based at our offices in Nelspruit, Mpumalanga, fostering a collaborative team environment.
• Join a company committed to ethical conduct and excellence in South Africa.