Job Description

Closing Date 2025/08/29
Reference Number MMH250729-3
Job Title Senior Legal Advisor - Momentum Advice
Position Type Permanent
Role Family Legal and Compliance
Cluster Momentum Life
Remote Opportunity Some of the time
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
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 Group provides practical financial solutions for people, communities, and businesses. Visit us at www.momentum.co.za
Disclaimer As an applicant, please verify the legitimacy of this job advert on our company career page.
Role Purpose
Role Purpose
This is a position for a senior and experienced corporate legal advisor to assume the role of Senior Legal Advisor with a specific focus on supporting our distribution channel.
The incumbent will advise on business direction and legal risks based on legal risk management interpretation and ensure the provision of a quality legal service that fulfils a statutory reporting and legal advisory service to the Momentum Advice business unit. The incumbent will be responsible for providing expert legal advice and addressing the diverse and complex needs of the advice channels. The role will include drafting adviser contracts, and advising on legal technical matters. Acts as counsel on issues involving company compliance with the most complex governmental and regulatory standards.
Furthermore, it is expected of the position to be the trusted adviser on some of the core legislation impacting advice channel businesses (FSPs). Reviews legal documentation and provides advice on appropriate action, including expert drafting of contracts. Oversee legal matters requiring external legal assistance. Provides work leadership, and functional advice.
Requirements
Qualifications

• BA (Law) + LLB or B.Com (Law) + LLB or LLB or B.Proc (or relevant law degree) from a South African university
• An admitted Attorney/ Advocate
• Post Graduate qualification preferred
• CFP, or post graduate in financial planning would be advantageous
• Regulatory Examinations: RE 1,3 and 5

Experience
At least 8-10 years extensive and diverse experience within a law department of a South African life insurer / financial services provider.

• Strong background in commercial, financial and insurance law with expertise in drafting contracts, formulating sound legal opinions and formulating regulatory change impact analysis.
• Sound knowledge and experience with legislation and the regulatory requirements and developments impacting on the distribution channel, MML and the insurance industry.
• Knowledge of retail insurance products.
• Have thorough and in-depth knowledge of and expertise on the applicable life insurance regulations and related legislation and regulatory instruments impacting the life licence as well as a sound and thorough working knowledge on the Insurance Act including the Long-Term Insurance Act, the Financial Sector Regulation Act, Prudential and Conduct Standards, FAIS, Code of Conducts, the Conduct of Financial Institutions legislation, FICA, NCA, POPIA, Consumer Protection Act as well as other financial product related legislation.
• Further to the above, have an in-depth knowledge of legal related matters in respect of FSP acquisitions, Category II license regulatory requirements, Restraint of trades, and Labour law.
• Expert knowledge of on-going developments in the insurance sector, such as RDR and COFI Bill.
• Sense of awareness of international legal, regulatory and supervisory developments and its potential impact on the South African financial services sector.
• A thorough grounding in and the ability to conduct legal research.
• Proven track-record in providing effective legal counsel and developing contracts that mitigate risks and penalties.
• Furnishing opinions on diverse matters, including matters beyond the strict confines of insurance business.
• Expert contract drafting, vetting, negotiation, preparation and administration skills.
• Able to identify and mitigate legal risks.
• Able to translate legal knowledge for a non-legal audience.
• Knowledge on litigation and Alternative Dispute Resolution (ADR) process and the management and facilitation of instructions to external lawyers where required.
• Able to engage with and represent the distribution channel business with the required internal and external stakeholders such as industry bodies and regulators.
• Good understanding of relevant functional practices and policies from a Risk and Compliance perspective.
• Recognise and appreciate legal and regulatory risks nuanced by proportionally balancing competing interests towards the facilitation of business.

Personal Attributes

• Self-starter
• Execution mindset
• Excellent Verbal and Written Communication
• Builds Networks
• Impacts & Influences
• Manages Complexity
• Self- Awareness & Insight

Duties & Responsibilities
Internal Processes

• Advise on the impact of regulatory developments affecting the advice channels.
• Provide expert guidance/interpretation/opinions on the emerging legal and regulatory regime within the context of the FSPs, insurance and adjacent regulatory landscape.
• Be responsible for handling the most complex legal matters or projects.
• Acts as counsel on issues involving company compliance with the most complex governmental and regulatory standards.
• Draft, vet, review various contracts.
• Review legal documentation and provides advice on appropriate action.
• Oversee legal matters requiring external legal assistance.
• Formulating and managing instructions to external counsel.
• Provides work leadership/ management, functional advice and training to less experienced legal advisers.
• Provide legal advice and guidance on new business initiatives and ventures.
• Comment on new legislation, subordinate legislation and standards applicable on FSP and Life licence.
• Succinctly summarise legislative and regulatory developments (as well as impact) for the purposes of various governance and risk committees.
• Assist colleagues in matters related to, amongst others, product development, new business initiatives, including digital, litigation, marketing, and regulatory developments.
• Translate the legal requirements in a practical manner for business to implement.

Competencies
Behavioural competencies

• Leads change and Innovation
• Customer/Stakeholder Commitment
• Drive Results
• Collaborates
• Diversity and Inclusiveness
• Diversity and Inclusiveness

Policy
We are committed to Employment Equity, diversity and inclusion when recruiting internally and externally. All appointments are made in alignment to our Employment Equity goals and we encourage people with disabilities to apply.