Compliance Officer- KZN

Compliance Officer (Oversight) KZN

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

Group Compliance

The FAIS Centre of Excellence is a compliance function within Group Compliance that provides compliance oversight and advice to Discovery FSPs, Key Individuals, and Representatives.

Job Description

The purpose of this role is to provide sound advice to FSPs, representatives, and key individuals regarding legislation, regulation, industry standards, codes, guidelines, and best practice protocols through compliance risk management principles, policies, processes, and procedures.

Job Responsibilities may include but are not limited to:

• Advise management on implementing and maintaining an appropriate compliance framework which meets the compliance-related objectives of the business.
• Identify training and awareness needs.
• Build, develop and maintain strong cross-functional relationships with the key internal and external stakeholders to assess and anticipate emerging risk areas that involve the operations of key individuals, representatives, and juristic representatives.
• Advise representatives, juristic representatives, and key individuals on suitable control frameworks to implement regulatory obligations.
• Provide guidance into business processes, procedures, and systems.
• Keep abreast of regulatory developments and changes in the financial services industry, with particular focus on FAIS and all subordinated legislation.
• Conduct onsite visits at key individuals, representatives, and juristic representative offices to perform the following:
• Client file reviews
• Office assessments looking at compliance operational processes and POPIA requirements.
• Presentations on compliance updates i.e., regulatory updates, compliance exposures, complaints, regulatory deadlines.
• Establish appropriate mechanisms to ensure effective oversight to:
• Coordinate and drive compliance in the Distribution channel and assist management to implement or review compliance structures that will encourage a compliance culture.
• Monitor and enforce effective control, governance, and compliance standards.
• Engage with key individuals, representatives, juristic representatives, and franchises on any incidents and exposures and ensure that these are dealt with in line with regulatory requirements.
• Ensure policies, standards, and frameworks are appropriate for the business.
• Support the implementation of appropriate monitoring of compliance with regulatory requirements.
• Provide comprehensive reports and feedback to senior management.
• Managing regulatory changes:
• Analyze changes and evaluate the impact on business and communicate to business.
• Provide guidance and support to business on the implementation of new and amended regulatory requirements.
• Ensure timely implementation of new and amended regulatory requirements.
• Engage with business to draft comments on proposed legislation and amendments to Regulation.
• Manage ad hoc projects as may reasonably be assigned by management in line with regulatory and business needs.

Work Experience

• 2 years of working experience in a financial services compliance role.

Education

• Relevant tertiary education.
• Membership of CISA or FPI would be advantageous.

Skills

• Knowledge of local (South African) legislation relating to financial services and able to interpret and apply legislation, including, but not limited to the following: FAIS, Protection of Personal Information Act, Insurance Act.
• Understanding of Compliance methodology, with a working knowledge of all elements comprising.
• Efficient time management skills, including quick turnaround time on quality work.
• Problem-solving skills and conflict-management abilities in a constructive and professional manner.
• Ability to make rational judgments from the available information and analysis and provide considered and consistent advice.
• Communication, reporting, and presentation skills.
• Ability to work as a team, understand the impact of decisions, and be confident enough to raise concerns within the team and to senior management.
• Research ability and attention to detail.
• Detailed expertise in the operation and governance requirements of FSPs.
• Ability to develop an effective network with business representatives and build the necessary trust relationship with business representatives.
• Ability to write in a well-structured and logical way – must have the ability to write and review compliance policies and draft compliance guidance notes and reports with the detail required to inform the business of regulatory requirements and potential impacts.
• Able to work well under pressure.

EMPLOYMENT EQUITY

The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.