Insurance Compliance Officer

Placements24; Centurion; Hybrid; ZAR 700,000 - 900,000; Full time

Benefits offered by this job

Competitive salary

Health and retirement benefits

Generous annual leave

Professional development and training

Hybrid work arrangements

Access to regulatory databases

Employee assistance program

Job summary

Placements24 is recruiting an Insurance Compliance Officer for our client in Centurion, Gauteng. The role focuses on ensuring adherence to FAIS, FICA, POPIA, CISCA and other regulatory requirements within a leading insurance institution.

You will develop and monitor compliance programs, conduct internal audits, and advise senior management on risk mitigation. The ideal candidate has a Bachelor's degree in Law, Commerce, or Finance, at least five years in compliance or internal audit in financial

Qualifications

• Bachelor’s degree in Law, Commerce, Finance, or related discipline.
• At least 5 years in compliance, risk management, or internal audit in insurance/financial services.
• In-depth knowledge of SA insurance laws and regulatory frameworks (FAIS, CISCA, PFA).
• Strong analytical, research, problem-solving and reporting skills.
• Auditing and investigations proficiency.
• Excellent written and verbal communication.
• High integrity and professional judgment.
• Ability to work independently and manage multiple priorities.
• Certifications such as Compliance Officer or CISA are preferred.

Responsibilities

• Develop, implement and maintain the company's compliance program in line with current insurance regulations.
• Monitor regulatory changes affecting the insurance industry and assess impact on operations.
• Conduct internal audits and reviews to ensure adherence to policies and procedures.
• Investigate potential compliance breaches, prepare reports and recommend corrective actions.
• Provide training and guidance to staff on compliance matters and best practices.
• Liaise with regulatory authorities and external auditors during examinations and inquiries.
• Maintain up-to-date knowledge of applicable laws including FAIS, CISCA, and POPIA.
• Develop and update compliance policies, procedures and documentation.
• Advise senior management on compliance risks and mitigation strategies.
• Manage the company's risk assessment process related to compliance matters.

Education

Bachelor's degree in Law, Commerce or Finance

Job description

About the Role

Our client, a leading insurance institution, is seeking a diligent and knowledgeable Insurance Compliance Officer to join their legal and compliance department in Centurion, Gauteng . This critical role ensures that the company operates in full adherence to all relevant laws, regulations, and industry standards governing the insurance sector. The Compliance Officer will be responsible for developing, implementing, and monitoring compliance programs, conducting internal audits, and providing guidance on regulatory matters. We are looking for an individual with a strong understanding of South African insurance legislation and a proactive approach to risk management. This is an excellent opportunity for a compliance professional to make a significant impact in a well-respected organization and contribute to maintaining the highest standards of corporate governance.

Key Responsibilities

• Develop, implement, and maintain the company's compliance program in line with current insurance regulations.
• Monitor legislative and regulatory changes affecting the insurance industry and assess their impact on the company's operations.
• Conduct regular internal audits and reviews to ensure adherence to compliance policies and procedures.
• Investigate potential compliance breaches, prepare reports, and recommend corrective actions.
• Provide training and guidance to staff on compliance-related matters and best practices.
• Liaise with regulatory authorities and external auditors during examinations and inquiries.
• Maintain up-to-date knowledge of all applicable laws and regulations, including FAIS, FICA, POPIA, and others.
• Develop and update compliance policies, procedures, and documentation as required.
• Advise senior management on compliance risks and strategies for mitigation.
• Manage the company's risk assessment process related to compliance matters.

Requirements

• A Bachelor's degree in Law, Commerce, Finance, or a related discipline.
• Minimum of 5 years of experience in compliance, risk management, or internal audit within the insurance or financial services industry.
• In-depth knowledge of South African insurance laws and regulatory frameworks (e.g., FAIS Act, CISCA, PFA).
• Strong understanding of compliance principles, risk assessment, and internal controls.Excellent analytical, research, and problem-solving skills.
• Proficiency in conducting audits and investigations.
• Outstanding written and verbal communication skills, including the ability to draft clear and concise reports.
• High level of integrity, ethical conduct, and professional judgment.
• Ability to work independently and manage multiple priorities effectively.
• Relevant professional certifications (e.g., Compliance Officer certification, CISA) are highly desirable.

Benefits

• Competitive salary commensurate with experience.
• Comprehensive health and retirement benefits.
• Generous annual leave and paid public holidays.
• Opportunities for continuous professional development and training.
• A supportive and collaborative work environment.
• Exposure to high-level strategic discussions.
• Modern office facilities in Centurion .
• Potential for hybrid work arrangements.
• Access to legal and regulatory databases.
• Employee assistance program for well-being.