Ficaa And Quality Monitoring Administrator

Momentum; Bellville; On-site; ZAR 350,000 - 500,000; Full time

Job summary

Momentum seeks a compliance and risk monitoring professional to oversee financial controls within its retail business units. The role demands maintaining compliance with FIC legislation, developing client relations, and leading a team for operational excellence. A minimum qualification in Financial Crime Prevention and a solid understanding of relevant legislation are essential. The position offers a chance to contribute to a significant organization with a rich legacy.

Qualifications

• 2-3 years’ experience in an operations control function within the Financial Services Industry.
• Knowledge of Financial Services Industry legislation (e.g., Long-Term Insurance Act, FAIS, FICAA).
• Understanding of in-house systems and processes.

Responsibilities

• Ensure compliance with FIC legislation by identifying and monitoring high-risk clients.
• Support the Compliance team with legislative changes.
• Provide reports and feedback on compliance matters to stakeholders.

Skills

Client/ Stakeholder Commitment

Business Acumen

Collaboration

Impact and Influence

Self-Awareness and Insight

Education

Qualification in Financial Crime Prevention or Compliance

Matric

Job description

Metropolitan is one of the oldest financial services brands in South Africa. With a 125-year legacy of serving the communities in which it operates, Metropolitan represents true empowerment in serving Africa's people through affordable financial solutions that create financial growth and security. Metropolitan operates in South Africa, but the brand is also present in 7 African countries including, Namibia, Botswana, Kenya, Ghana and Lesotho. Metropolitan provides financial wellness solutions that meet the needs of low-income clients, including funeral insurance, health, savings, hospital cash-back cover, retirement solutions and life insurance. www.metropolitan.co.za

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

Role Purpose

Monitors all the Metropolitan Retail business units’ systems of internal control to adequately identify, measure, monitor, manage and report on the high-risk clients that the business is dealing with. To assist and maintain controls, keep the controls relevant and in line with FICAA legislative changes.

Requirements

• Matric
• Qualification in Financial Crime Prevention or Compliance
• 2-3 years’ experience in an operations control function within the Financial Services Industry
• Knowledge of the Financial Services Industry legislation e.g. the Long-Term Insurance Act, FAIS and FICAA
• Knowledge and understanding of in-house systems and processes would be advantageous
  
  

Duties & Responsibilities

Internal

• Ensure that the team identify, measure, monitor and report on new and existing high-risk clients as per FIC legislation
• Submit input into FIC compliance reports where applicable
• Providing feedback and complete information to stakeholders in respect of FIC regulatory matters and the first level of compliance risks where fixes have to be done
• Do monthly reports on changes and issues picked up during monitoring and present back to relevant executive member
• Support the Compliance team with FIC legislative changes, implementation and monitoring thereof
• Identify and assist with process change training opportunities
• Provide ongoing training support to service staff to ensure that all staff members are trained in respect of process changes
• Monitor and assist with the 1st line of defence in terms of compliance, and ensure appropriate mechanisms are in place to identify and address non-compliance by the 1st line of defence
• Maintain good working relationships with regulators and Metropolitan Retail Compliance team to ensure consistency of information presented and to assist with changes to mitigate risk
• Providing reports, regular and ad hoc to the Metropolitan Retail service teams and EXCO member
• Identified, process gaps as well as training gaps and address those
  
  

Client

• Provide authoritative, expertise and advice to clients and stakeholders in respect of achieving the business deliverables
• Build and maintain relationships with clients and internal and external stakeholders
• Define service practices which build rewarding relationships, encourage innovation and allow others to provide exceptional client service.
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed
• Make recommendations to improve client service and fair treatment of clients within area of responsibility
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service
  
  

People

• Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity and to maximise collaboration within the team and within the business
• Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organisational values
• Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness
• Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members
• Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted
• Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth
• Effectively manage performance within the team in order to ensure business objectives are achieved
• Encourage innovation, change agility and collaboration within the team
  
  

Finance

• Contribute to the development of area specific process changes (legislative, etc.) to minimise risk, in alignment with operational plans
• Identify solutions to enhance cost effectiveness and increase operational efficiency
• Implement and provide input into governance processes, systems and legislation within area of specialisation
• Escalate unresolved policy and governance compliance issues via appropriate channels for investigation and resolution purposes
• Provide input into the risk identification processes development and communicate recommendations in the appropriate forum
• Ensure that there is adherence to FIC compliance requirements in the sales and service process in line with legislative requirements
  
  

Competencies

• Business Acumen
• Client/ Stakeholder Commitment
• Drive for Results
• Leads Change and Innovation
• Motivating and Inspiring Team
• Collaboration
• Impact and Influence
• Self-Awareness and Insight
• Diversity and Inclusiveness
• Growing Talent