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, and NCR, Insurance Act, LTIA, STIA and related sub regulation. Masthead assists Independent Financial Advisors, corporate FSPs, Insurers, Binder Holders and other business sectors throughout South Africa so they can stay in business, improve productivity and prosper. We know this can only be achieved through the calibre of people we employ people who are client focused, set themselves high standards of delivery and have a willingness to go the extra mile.
POSITION SUMMARY
Masthead seeks a Senior Compliance Officer specialising in insurance to lead the delivery of insurance related compliance services to Masthead to long-term and short-term insurance providers (life and non-life insurers) and binder holders, including 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. This role is ideal for candidates with extensive compliance experience looking to provide technical leadership, develop and establish the Masthead insurance services value proposition. You will independently execute monitoring, reporting, and advisory functions, ensuring adherence to regulatory frameworks.
DUTIES AND RESPONSIBILITIES

• Responsible for the development and execution of compliance monitoring plans and prepare reports aligned with Mastheads methodology and regulatory standards.
• Preparation of reports aligned with methodology and regulatory standards.
• Providing support to clients in preparing and submitting complete and accurate applications to the Prudential Authority.
• Assisting clients with oversight responsibilities by providing evaluations or audits of performance against regulations.
• Aiding binder holders in their performance obligations by providing the binder holders with evaluations and audits of their performance against the binder regulations.
• Assisting insurers with due diligence evaluations on binder applications.
• Identify non-compliance issues with proposed corrective actions.
• Communicate findings and recommendations clearly to stakeholders and support implementation of advice and remedial actions.
• Research, draft and prepare compliance guidance and regulatory input on related topics.
• Preparation and delivery of training plans, mentor and provide guidance to compliance officers.
• Guidance and input on regulatory changes and stay aligned with current standards.

MINIMUM REQUIREMENTS QUALIFICATIONS & EXPERIENCE

• Relevant tertiary qualification in Law, Audit, or Business (preferred).
• 57 years of experience in an insurance focused compliance or regulatory support role.
• Familiarity with compliance tools and reporting systems.
• Experience in providing specialist compliance resources for the appointment of Head of Compliance Control Prudential Governance (GOI-3) is advantageous.
• Insurance related qualifications e.g. Insurance Law, Certifications in STIA, LTIA etc. (advantageous)

COMPETENCIES AND SKILLS

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

Masthead is committed to transformation. Meeting our employment equity goals will be taken into account in our recruitment decisions.
Should you receive no correspondence within two weeks of the closing date of this job advert, please consider your application unsuccessful.