Compliance Specialist Mmh240830-1

Momentum; Gauteng; On-site; ZAR 450 000 - 750 000; Full time

Job summary

A leading financial services company seeks a Compliance Specialist to assist the Head of Compliance in monitoring adherence to legislative requirements mainly within insurance and employee benefits. The ideal candidate will have a relevant legal qualification and at least 5 years of experience in compliance functions, along with excellent attention to detail and the ability to communicate complex legal requirements clearly. This full-time role is located in Gauteng, South Africa, offering significant professional growth opportunities.

Qualifications

• Minimum 5 years' experience in compliance with knowledge of the life insurance industry.
• Technical understanding of Insurance Act and Pension Funds Act is essential.
• Practical qualifications are advantageous.

Responsibilities

• Execute compliance activities based on monitoring plans.
• Monitor regulatory updates and disseminate changes.
• Provide guidance on legal compliance to the business.
• Contribute to critical statutory projects.
• Deliver compliance reports highlighting non-compliance.

Skills

Compliance risk identification

Attention to detail

Professional communication

Understanding of legal requirements

Education

Relevant legal qualification

Member of the Compliance Institute of Southern Africa

Risk management qualification

RE5 qualification

Job description

Compliance Specialist MMH

Role Purpose

The role purpose is to assist the Head of Compliance with advice, guidance and monitoring of compliance with all legislation relevant to a financial services company, with particular focus on insurance, employee benefits, and pension fund administration.

The role also monitors and reports on the level of compliance to the respective governance forums.

Requirements

• Relevant legal qualification
• Member of the Compliance Institute of Southern Africa
• Practical qualification (advantageous)
• Risk management qualification (advantageous)
• RE1 (advantageous)
• RE5 (advantageous)

Meet the requirements to be registered with the FSCA and FIC for relevant regulatory roles.

Minimum 5 years' experience in an end-to-end compliance function with in-depth knowledge of the life insurance (group business), consulting business and pension fund industry.

Must have technical understanding of the Insurance Act, Pension Funds Act, Financial Advisory and Intermediary Services Act, Financial Intelligence Centre Act.

Skills and Attributes

Ability to identify compliance risks and make recommendations that are appropriate for the business.

Attention to detail and meticulous accuracy is essential.

Ability to professionally communicate with various levels of staff and management.

Ability to explain technical legal requirements to non-legal persons in plain and understandable language.

Duties and Responsibilities

Internal Process

Execute compliance activities based on the approved compliance monitoring plan to provide assurance on regulatory compliance.

Monitor new regulatory and industry requirements, ensure compliance policies are kept up to date, and disseminate revisions timely.

Design and implement compliance training and educational programmes; actively participate in management training, including new starter induction programmes.

Provide advice on compliance with applicable laws and regulations to the business.

Assess the possible impact of regulatory developments on business operations and work with the business regarding compliance.

Execute the regulatory compliance breach management and follow-up process, addressing identification, analysis, resolution and escalation procedures.

Provide professional advice and guidance to business regarding compliance matters.

Contribute to the initiation of critical statutory projects and monitor implementation.

Create awareness within the business of new compliance requirements or guidance on potential impact.

Support stakeholders in identifying compliance risks or weaknesses for which mitigation action may be considered.

Initiate, contribute and prepare necessary documentation for statutory application submissions.

Build relationships with internal and external stakeholders and the wider compliance community within Momentum.

Provide input from a compliance perspective and act as a trusted advisor in business projects and initiatives.

Deliver compliance reports highlighting activities and instances of non-compliance within agreed timeframes.

Initiate and contribute to the review of all critical business policies from a regulatory compliance perspective and recommend improvements.

Client Service

Build and maintain relationships with internal and external stakeholders.

Contribute to negotiating realistic service level agreements and monitor appropriateness.

Deliver on service level agreements to manage client expectations.

Make recommendations to improve client service and fair treatment within the area of responsibility.

Participate in a culture that builds rewarding relationships, facilitates feedback, and provides exceptional client service.

Build strong relationships through specialist know-how and leadership, expressing positive expectations.

Continuously develop expertise in industry and subject matter.

Positively influence change and offer specialist support where required.

Contribute to continuous innovation through new ideas and colleague involvement.

Participate in a culture of productivity, service delivery and quality management.

Take ownership of driving career development.

Finance

Contribute to the development of business cases for proposals to decision‑making bodies.

Identify solutions to enhance cost effectiveness and increase operational efficiency.

As an applicant, please verify the legitimacy of this job advert on our company career page.

Location

Johannesburg, Gauteng, South Africa

Seniority Level

Mid‑Senior level

Employment Type

Full‑time

Job Function

Finance and Sales