Head of Compliance Control Function

Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

In this pivotal role, you will interact with senior management and board members, providing strategic insights on compliance and legislative developments that shape our company's direction.

Your expertise in the short-term insurance industry will be crucial in establishing and embedding an effective compliance function.

Requirements:

1. Relevant degree within the legal and commerce fields
2. Additional Compliance related qualifications will be beneficial
3. Proven track record of experience as Head of a Compliance Control Function

This role interacts with senior management and board members of companies within the OMSA Group on a strategic level on compliance and legislative developments that may influence the strategic direction of the company. The incumbent is individually accountable for establishing and embedding compliance within the business unit through staff supervised over periods of 3 months to a year.

Responsibilities

1. Regulatory and Compliance Management: Monitor and manage a wide range of activities of a significant team, ensuring compliance with regulatory requirements by liaising with all internal risk management functions while supporting the development and implementation of the organization's compliance policy.
2. Regulatory Affairs: Take responsibility for providing specific elements of the regulatory affairs service with guidance from senior colleagues.
3. Quality Management System: Identify, analyze, and evaluate the effectiveness of current policies and business processes that are in the scope of the quality management system (QMS); contribute to the design of the QMS; provide specialist quality management oversight to the drafting of new policies and procedures and the design of business processes; contribute to the quantification of the costs and business benefits of change.
4. Audit Compliance: Plan and manage the delivery of an audit program in a single discipline, ensuring that the program addresses identified risk areas. Monitor the closeout of audit findings to ensure that established corrective actions are implemented and that risks are managed effectively; refer major issues or inadequate responses through the management line.
5. Quality Assurance Testing Design: Develop and validate complex new test methods and procedures for a product or operations segment, incorporating new technologies and meeting changing organizational, customer, and/or regulatory requirements.
6. Stakeholder Engagement: Develop stakeholder engagement by identifying stakeholders; by finding out their needs, issues, and concerns; and by reacting to these needs, issues, and concerns to support the communication of business information and decisions.
7. Leadership and Direction: Communicate the actions needed to implement the function's strategy and business plan within the team; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these and to do extraordinary things to achieve local business goals.
8. Functional Strategy Formation: Contribute to the formation of a key element of functional strategy through specialist expertise and insights, to ensure that the strategy meets business needs.
9. Performance Management: Develop and propose own performance objectives; take appropriate actions to ensure achievement of agreed objectives, using the organization's performance management systems to improve personal performance. Or manage and report on team performance; set appropriate performance objectives for direct reports or project/account team members and hold people accountable for achieving them, taking appropriate corrective action where necessary to ensure the achievement of team/personal objectives.
10. Organizational Capability Building: Use the organization's formal development framework to identify the team's individual development needs. Plan and implement actions, including continuing professional development specified by professional or regulatory institutions, to build their professional capabilities. Provide informal training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.
11. Budgeting: Develop and/or deliver budget plans with guidance from senior colleagues.

Skills: Accountability, Communication, Decision Making, Leadership, People Management, Risk Assessments, Strategic Direction, Strategic Objectives, Team Performance.

Competencies: Balances Stakeholders, Builds Effective Teams, Communicates Effectively, Ensures Accountability, Financial Acumen, Instills Trust, Interpersonal Savvy, Manages Ambiguity.

Education: Bachelors Degree (B): Commerce (Required), Bachelors Degree (B): Law (Required).

Closing Date: 28 February 2025, 23:59.