Senior Compliance Officer Insurance (Head Of Insurance)

Masthead Ltd; Johannesburg; On-site; ZAR 600,000 - 900,000; Full time

Job summary

Masthead Ltd is seeking a Senior Compliance Officer to lead compliance services for insurance providers. This role involves executing monitoring, reporting, and advisory functions while providing technical leadership and ensuring adherence to complex regulatory frameworks. Candidates should possess extensive experience in compliance and solid communication skills to manage stakeholder interactions effectively.

Qualifications

• At least 7 years of experience in an insurance-focused compliance or regulatory support role.
• Familiarity with compliance tools and reporting systems.
• Certifications in Insurance Law, STIA, LTIA, etc., are advantageous.

Responsibilities

• Develop and execute compliance monitoring plans and prepare reports.
• Support clients in preparing and submitting applications to the Prudential Authority.
• Identify non-compliance issues and propose corrective actions.

Skills

Attention to detail

Analytical skills

Effective communication

Leadership skills

Education

Relevant tertiary qualification in Law, Audit, or Business

Tools

Microsoft Office

Job description

At Masthead (Pty) Ltd, our passion is keeping businesses in business.

As a national supplier of practice management and business development services, and compliance monitoring of FAIS, FICA, POPI, NCR, Insurance Act, LTIA, STIA, and related regulations, Masthead assists Independent Financial Advisors, corporate FSPs, Insurers, Binder Holders, and other sectors across South Africa to stay in business, improve productivity, and prosper.

We believe this is achieved through employing client-focused individuals who set high standards and are willing to go the extra mile.

Position Summary

Masthead seeks a Senior Compliance Officer specializing in insurance to lead compliance services for long-term and short-term insurance providers (life and non-life insurers), binder holders, non-mandated intermediaries (NMIs), underwriting managers (UMAs), and cell captives.

This role is part of the Research and Development team, reporting to the Head of Compliance. It is ideal for candidates with extensive compliance experience aiming to provide technical leadership and develop Masthead's insurance services.

You will independently execute monitoring, reporting, and advisory functions, ensuring adherence to regulatory frameworks.

Responsibilities

• Develop and execute compliance monitoring plans and prepare reports according to Masthead's methodology and regulatory standards.
• Support clients in preparing and submitting applications to the Prudential Authority.
• Assist clients with oversight responsibilities through evaluations or audits of performance against regulations.
• Provide evaluations and audits of binder holders' performance against binder regulations.
• Assist insurers with due diligence evaluations on binder applications.
• Identify non-compliance issues and propose corrective actions.
• Communicate findings and recommendations clearly to stakeholders and support implementation of remedial actions.
• Research, draft, and prepare compliance guidance and regulatory input.
• Prepare and deliver training, mentor, and guide compliance officers.
• Stay updated on regulatory changes and ensure compliance with current standards.

Minimum Requirements

• Relevant tertiary qualification in Law, Audit, or Business (preferred).
• At least 7 years of experience in an insurance-focused compliance or regulatory support role.
• Familiarity with compliance tools and reporting systems.
• Experience providing compliance resources for roles such as Head of Compliance Control Prudential Governance (GOI-3) is advantageous.
• Certifications in Insurance Law, STIA, LTIA, etc., are advantageous.

Skills and Competencies

• Advanced knowledge of The Insurance Act (Act 18 of 2017), The Long-term Insurance Act (Act 52 of 1998), The Short-term Insurance Act (Act 53 of 1998), Binder Regulations, and Policyholder Protection Rules (PPRs).
• Strong attention to detail and analytical skills.
• Ability to conduct research and draft opinions independently.
• Effective communication skills, both written and verbal.
• Time management skills and ability to meet deadlines.
• Proficiency in Microsoft Office and data literacy.
• Ability to provide constructive feedback and engage professionally.
• Leadership skills with the ability to train and mentor staff.

Masthead is committed to transformation. Employment equity goals will be considered in recruitment decisions.

If you do not hear from us within two weeks of the closing date, please consider your application unsuccessful.

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Compliance Officer • Johannesburg, Gauteng