Senior Legal Counsel

Ba Personnel; Gauteng; On-site; ZAR 700 000 - 900 000; Full time

Job summary

A recruitment agency is seeking a Senior Legal Council in South Africa. You will perform legal advisory functions, oversee compliance for pension funds, and lead contract negotiations. Ideal candidates should have extensive experience in the financial services sector, a Bachelor of Laws, and strong knowledge of regulatory legislation. This position promises career advancement in a specialized and impactful role.

Qualifications

• Minimum 8 years' experience within the financial services industry dealing with employee benefits, investments and/or group risk.
• Advantageous: Post graduate qualification in insurance and/or financial services.
• Knowledge of Retirement Fund Compliance and Governance.

Responsibilities

• Perform legal advisory function for Employee Benefits and Invest business units.
• Provide legal oversight on pension fund activities and compliance.
• Draft and negotiate contracts related to investment schemes and group risk.

Skills

Knowledge of Insurance legislation

Knowledge of the Pension Funds Act

Knowledge of Income Tax legislation

Admitted attorney with litigation experience

Experience in drafting of contracts and fund rules

Education

Bachelor of Laws qualification

Job description

Introduction

As specialists in our field, BA Personnel boasts extensive expertise in matching exceptional talent with niche and specialized roles, spanning national and global markets.

Our reputation is built on attracting and representing high‑calibre candidates who excel in their professions. We are recruiting for a Senior Legal Council with extensive Retirement Funds Umbrella, Retirement funds, retail retirement funds, retail investments and group life insurance products.

Duties & Responsibilities

Key Purpose: To perform a legal advisory function and deliver legal advisory services to the Employee Benefits and Invest business units on all legal aspects pertaining to the umbrella retirement funds, retail retirement funds, retail investments and group life insurance products; To perform a legal and regulatory oversight function with a key focus on advising business on the legal and regulatory framework, identifying, mitigating and managing legal risks, and advising business on implementing legislative requirements; To provide legal advice to the administrators of the company retirement funds and the Principal Officer of the company retirement funds; To provide commentary on draft legislation relating to the financial services sector and to provide support to first line compliance team in the business with the analysis and implementation of promulgated legislation.

Contribute to the leadership, management and strategic direction, professional expertise, operational delivery, and continuous improvement and development of the legal function. Areas of responsibility may include but not limited to: conducting legal research and preparation of legal publications, legal updates, and guidance notes to business; preparation of reports for board meetings of the various retirement funds; providing oversight on the drafting of General and Special Rules for the Funds; providing legal oversight over the allocation of death benefits in terms of the Pension Funds Act and mentoring the service consultants and junior legal advisors in relation to the investigation of death claims and preparation of recommendations for resolutions of the Board of Trustees; providing advice on regulatory compliance matters and identifying and mitigating risks associated with regulatory non‑compliance; pro‑active analysis of legislation, regulatory updates and research on legal matters to ensure the best possible outcome for the various entities; responsible for external dispute resolution, including handling disputes referred to the ombudsman for long‑term insurance, the Pension Funds Adjudicator, Financial Services Tribunal, and litigation in South African courts.

This includes the preparation of written legal arguments, as well as instructing attorneys to deal with court proceedings brought against the various retirement funds and the business.

Drafting and negotiation of contracts relating to collective investment schemes, retirement funds, and group risk schemes, including custodian agreements, portfolio management agreements, agreements relating to setting up investment platforms, service level agreements, policy documents, etc.

Represent at industry bodies as a member of the Legal and Technical Working Groups and fulfil assigned tasks relating to reviewing and commenting on legislation affecting retirement funds and presenting at industry seminars, where required.

Oversight of the Fund processes and to act as liaison for submission of regulatory reports to the FSCA.

Reviewing marketing material and providing legal oversight over the preparation of marketing material for Employee Benefits and Invest.

Providing work leadership and mentoring to less experienced attorneys in the legal team.

Submission of comments on proposed legislation issued by National Treasury in so as far as it relates to the retirement funds and insurance industries.

Analyze legislation and its impact for business and assist business in implementing new legislation into business processes.

Building and maintaining relationships within internal business units and the relevant Regulatory bodies.

Desired Experience & Qualification

• Matric
• Bachelor of Laws qualification (Legal)
• Knowledge of Insurance legislation
• Knowledge of the Pension Funds Act and related legislation
• Knowledge of Income Tax legislation
• Knowledge of Financial Services legislation
• Knowledge of legislation for Collective Investment Scheme
• Advantageous: Post graduate qualification in insurance and / or financial services
• Admitted attorney with litigation experience
• Minimum 8 years' experience within the financial services industry dealing with employee benefits, investments and / or group risk
• Knowledge of Retirement Fund Compliance and Governance
• Experience in drafting of contracts and fund rules
• Experience in the application of the Policyholder Protection Rules and other insurance Law Provisions
• Experience with Group Risk Insurance cover
• Knowledge of the King IV Principles of Corporate Governance

Interested?