Job Description

Introduction

Through our client-facing brands Metropolitan and Momentum, with Multiply (wellness and rewards programme), and our other specialist brands, including Guardrisk and Eris Property Group, the group enables business and people from all walks of life to achieve their financial goals and life aspirations. We help people grow their savings, protect what matters to them and invest for the future. We help companies and organisations care for and reward their employees and members. Through our own network of advisers or via independent brokers and utilising new platforms Momentum Metropolitan provides practical financial solutions for people, communities, and businesses.

Disclaimer

As an applicant, please verify the legitimacy of this job advert on our company career page.

Role Purpose

Implement the compliance strategy aligned to the compliance monitoring plan to enable the business within a legal framework.

Requirements

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Qualification

Matric Certificate
Qualifications as per fit and proper requirements to be registered as a licensed compliance officer with the FSCA (Essential)
Post graduate qualification in Compliance Management (Desirable)
Legal qualification (Desirable)
Degree in Commercial, Risk Management, Audit, Legal, Business or related field (Essential)
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Licensing or registration

Registered with the Compliance Institute of Southern Africa (Desirable)
Registered as licensed compliance officer with the FSCA (Essential)
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Knowledge

Exposure to interpretation of legislation for Health, insurance and financial services environment
Exposure to aspects of the compliance risk management framework.
Understanding of the insurance and financial services industry.
Knowledge of Regulation i.e. FAIS,FICA,POPIA, LTIA, SHORT TERM INSURANCE ACT, MEDICAL SCHEMES ACT, COFI, FSCR
Knowledge and understanding of the typical products offered by organisation
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Experience

2 - 5 Years compliance related experience
Experience in the insurance and financial services industry (preferred)

Duties & Responsibilities

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Internal Process

Execute compliance activities based on the Compliance Monitoring Plan in order to provide assurance on the level of regulatory compliance.
Monitor new regulatory mandates, rules and requirements, ensure that compliance policies are kept up to date and that revisions are disseminated in a timely manner.
Design and implement compliance training and educational programmes; actively participate in management training, including new starter induction programmes.
Provide advice on compliance with applicable laws and regulations to the business to ensure ongoing adherence and compliance.
Assess the possible impact of any regulatory development on the operations of the business and work with the business with regard to compliance.
Conduct compliance monitoring reviews and audits based on audit schedule and ad hoc requirements as required by the Internal Auditor or business leader.
Execute the regulatory compliance breach management and follow-up process in order to address the identification, analysis and resolution processes to be followed as well as the escalation procedures.
Contribute to the initiation of critical statutory projects relevant to the business and monitor the appropriate implementation thereof by the business.
Create awareness within business regarding new compliance requirement or provide guidance on potential impact of compliance requirements.
Support the business stakeholders identify compliance risks or weaknesses for which the business should consider additional mitigating action, or processes and/or procedures.
Initiate, contribute and prepare the necessary documentation for the submission of business enabling statutory applications to applicable regulatory and industry or supervisory bodies.
Build relationships with internal and external stakeholders as well as the wider compliance community within Momentum Health Group.
Deliver compliance reports that highlight compliance activities and instances of non-compliance, both internal and external within agreed time frames.
Initiate and contribute to the review of all critical business policies from a regulatory compliance perspective and make recommendations for improvement.
Identify, assess, manage, monitor and report on compliance risks that the company face.
Execute compliance activities based on the Risk-based compliance plan in order to provide assurance on the level of regulatory compliance.
Assisting with FAIS compliance and all matters relating to FAIS,FICA (as applicable).
Drafting communications to the business on compliance related matters.
Research a wide variety of topics and issues including regulatory matters, compliance management and report timeously to relevant stakeholders.
Ensure compliance record keeping adheres to legislation.
Assisting the Compliance Manager in reviewing any new major business initiatives or internal business proposals .
Conduct routine monitoring of training completion statistics and maintain relevant records for reporting.
Prepare and distribute a monthly compliance newsletter summarizing regulatory updates, internal policy changes, and compliance tips.
Maintain and update all compliance registers, including breach, complaints, risk, and monitoring registers.
Assist in the preparation and submission of licensing applications, including collating supporting documentation and liaising with regulatory bodies.
Maintain a tracker of all applications and renewals to ensure deadlines are met and licences remain current.
Drafting compliance report in collaborating and reviewing business unit compliance report.
Assist in maintaining and apply for CMS accreditation with the regulator.
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Client

Build and maintain relationships with internal and external stakeholders.
Contribute to the process of negotiating objective and realistic service level agreements, monitor appropriateness and recommend adjustments.
Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed.
Make recommendations to improve client service and fair treatment of clients within area of responsibility.
Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.
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People

Build strong relationships through providing specialist know-how and leadership to others, expressing positive expectations.
Continuously develop own expertise in terms of industry and subject matter development and application thereof in an area of specialisation.
Positively influence and manage change and offer specialist support where required.
Contribute to continuous innovation through the development, sharing and implementation of new ideas and involvement of colleagues and staff.
ParticipateParticipate in and contribute to a culture of work centric thinking, productivity, service delivery and quality management.
Take ownership for driving career development.
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Finance

Identify solutions to enhance cost effectiveness and increase operational efficiency.
Implement and provide input into governance processes, systems and legislation within area of specialisation.
Escalate unresolved policy and governance compliance issues via appropriate channels for investigation and resolution purposes
Provide input into the risk identification processes development and communicate recommendations in the appropriate forum.

Competencies

Examining Information
Documenting Facts
Adopting Practical Approaches
Providing Insights
Interacting with People
Articulating Information
* Upholding Standards