Legal, Risk and Compliance Officer | Durban

The Recruitment Council; Durban; On-site; ZAR 600,000 - 800,000; Full time

Job summary

A leading recruitment agency in Durban seeks a Compliance Officer to handle regulatory compliance and risk management for the insurance sector. The ideal candidate will have an LLB degree and a minimum of 5 years of experience in compliance or risk management. Responsibilities include drafting documents, conducting audits, and monitoring compliance. This role requires strong communication skills and expertise in financial advisory laws.

Qualifications

• Minimum 5 years experience in compliance or risk management within the insurance industry.

Responsibilities

• Draft official documents and agreements.
• Conduct investigations on regulatory developments.
• Ensure compliance with financial advisory and intelligence laws.
• Communicate with Insurers regarding legal queries.
• Conduct external Insurer audits.
• Renew company financial lines insurances.
• Develop and implement compliance framework.
• Prepare risk management reports.

Skills

Regulatory compliance

Risk management

Communication with Insurers

FICA reporting

Quality assurance

Education

LLB degree or similar

Regulatory qualification

Job description

Responsibilities

Drafting official documents and agreements which includes but is not limited to, letters of demand, agency agreements, new contracts and contract addendums

Conduct investigations on regulatory developments

Ensuring all employees and the company are compliant with the Financial Advisory and Intermediary Services Act and Financial Intelligence Centre Act

Communicating with Insurers regarding any regulatory or legal queries

Conducting and compiling external Insurer audits

Renewal of all company financial lines insurances and licenses

Develop and implement compliance framework

Prepare risk management reports

Amending and update compliance documentation and statutory disclosure notifications

Quality assurance of renewal procedure

Responsible for FICA and FAIS reporting and monitoring

Prepare internal compliance monitoring reports and calculate monthly compliance scores

Review internal claims and underwriting correspondence in accordance with legislative requirements

Monitoring ESG compliance

Review an monitoring of companys complaints and complaints resolution procedure

Minimum Requirements

LLB degree or similar

Regulatory qualification

Minimum 5 years experience in compliance or risk management within the insurance industry