INSURANCE : COMPLIANCE OFFICER

HR Options; Gauteng; On-site; ZAR 600 000 - 800 000; Full time

Job summary

An insurance compliance consulting firm in South Africa is seeking a Compliance Manager to oversee regulatory monitoring, policy development, and training. The ideal candidate will have a Bachelor's degree and a minimum of 3-5 years' experience in regulatory compliance within the insurance industry. This position requires excellent analytical and communication skills, alongside strong attention to detail, to ensure compliance with local and international regulations.

Qualifications

• Bachelor’s degree in a relevant field is required.
• Minimum of 3-5 years’ experience in regulatory compliance within the insurance industry is required.
• Demonstrated experience in policy development and compliance audits.

Responsibilities

• Monitor and interpret insurance regulations and statutory requirements.
• Develop and implement compliance policies.
• Train employees on regulatory requirements and company policies.
• Conduct risk assessments and compliance audits.
• Prepare compliance reports for management and authorities.
• Serve as the point of contact for compliance-related inquiries.

Skills

Regulatory Monitoring

Policy Development

Training and Education

Risk Assessment

Analytical Acumen

Communication Skills

Problem-Solving

Project Management

Technological Proficiency

Attention to Detail

Education

Bachelor's degree in Law, Business Administration, Finance, Risk Management, Insurance, or related field

Professional certifications such as CCEP or CICP (preferred)

Job description

Key Responsibilities

• Regulatory Monitoring: Continuously monitor and interpret current and evolving insurance regulations, statutory requirements, and industry standards at the local, national, and international levels.
• Policy Development and Implementation: Develop, update, and implement company compliance policies, ensuring they reflect changes in legislation and regulatory expectations.
• Training and Education: Design and deliver compliance training programs to educate employees on regulatory requirements, company policies, reporting obligations, and ethical considerations.
• Risk Assessment: Conduct regular risk assessments and compliance audits to identify potential areas of vulnerability, recommend corrective actions, and ensure timely remediation of identified issues.
• Reporting: Prepare and submit comprehensive compliance reports to senior management and regulatory authorities, highlighting key findings, risks, and mitigation strategies.
• Advisory Support: Serve as the primary point of contact for compliance-related inquiries, offering expert advice to business units and executive leadership regarding regulatory obligations and industry best practices.
• Incident Management: Investigate suspected or confirmed violations of compliance policies, coordinate with legal counsel as needed, and facilitate effective resolution of compliance incidents.
• Licensing and Filing: Oversee regulatory filings, licensing renewals, and other compliance documentation to ensure timely and accurate submissions to governing bodies.
• Collaboration: Work closely with internal stakeholders—including underwriting, claims, sales, IT, and finance teams—to integrate compliance into business processes and strategic decisions.
• Continuous Improvement: Identify and implement opportunities to streamline compliance processes, leverage new technologies, and enhance the organization’s compliance program.
• Comprehensive Regulatory Knowledge: In-depth understanding of insurance laws, regulations (such as Solvency II, GDPR, FICA, POPIA), and industry practices.
• Analytical Acumen: Strong ability to analyze legal documents, interpret regulatory changes, and assess their impact on business operations.
• Communication Skills: Excellent written and verbal communication skills to clearly convey complex regulatory information to diverse audiences.
• Attention to Detail: High level of accuracy in reviewing documentation, conducting audits, and preparing reports.
• Ethical Judgement: Commitment to maintaining the highest ethical standards and promoting a culture of integrity.
• Problem-Solving: Proactive approach to identifying issues, investigating root causes, and recommending practical solutions.
• Project Management: Ability to manage multiple projects simultaneously, prioritize tasks, and meet tight deadlines.
• Collaboration: Experience working effectively with cross-functional teams and external stakeholders.
• Technological Proficiency: Familiarity with compliance software, data analytics tools, and Microsoft Office Suite.
• Adaptability: Capacity to thrive in a dynamic regulatory environment and adapt to organizational change.
• Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
• Professional certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Insurance Compliance Professional (CICP), or equivalent (preferred)
• Minimum of 3‑5 years’ experience in regulatory compliance or legal roles within the insurance industry (required)
• Demonstrated experience in policy development, regulatory reporting, and compliance audits
• Familiarity with local and international insurance regulations and reporting requirements

Qualifications and Experience

• Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
• Professional certifications (preferred)
• Minimum of 3‑5 years’ experience in regulatory compliance or legal roles within the insurance industry (required)
• Demonstrated experience in policy development, regulatory reporting, and compliance audits