Senior Compliance Advisor

RESPONSIBILITIES

Regulatory & Compliance Management

Help design and implement a compliance program, liaising with the regulator to ensure the program adheres to regulatory and compliance standards.

Assist with the development and implementation of the compliance risk management and monitoring plan.

Plan ongoing compliance activities and output.

Regulatory Affairs

Take responsibility for providing specific elements of the regulatory affairs service with guidance from senior colleagues.

Implement initiatives that promote a compliance culture.

Ensure timely regulatory reporting, managing the relationship with the Regulator with the support of senior management.

Compliance Monitoring

Plan and manage the delivery of compliance advisory and monitoring in multiple disciplines, ensuring identification of risks and that it addresses the identified risk areas. Monitor the closeout of findings to ensure that agreed corrective actions are implemented and that risks are managed effectively; refer major issues or inadequate responses through the management line.

Identify any compliance risks and take immediate remedial action.

Drive and participate in compliance activities in line with the compliance risk management and monitoring plan.

Insights and Reporting

Contribute to the design and creation of reporting strategies and templates. Lead execution of complex reports, identifying and interpreting complex patterns and trends, and translating those insights into actionable recommendations.

Ensure Group compliance with relevant legislation through ongoing analysis and reporting.

Report on the compliance status of the Group internally to the General Manager, Executive Heads, Group Chiefs and key individuals on a monthly, quarterly and annual basis.

Drive utilization of the various compliance systems to enhance reporting.

Information and Business Advice

Provide specialist guidance on the interpretation and application of policies and procedures, resolving queries and issues and referring very complex or contentious issues to others.

Provide compliance advice and solutions to business and compliance monitoring officers proactively and on request.

Involvement in various organisational projects such as new product development, new business partnerships, new compliance developments and business forums.

Compliance Management System

Contribute to the identification and evaluation of current policies and business processes that are in the scope of the Compliance Management System; contribute to the design of the CMS; provide specialist compliance management input to the drafting of new policies and procedures, and design of business processes; contribute to the quantification of the costs and business benefits of change.

Manage and maintain an effective compliance system.

Stakeholder Engagement

Contribute to stakeholder engagement through identifying stakeholders, finding out their needs/issues/concerns and reacting to these by arranging meetings and events and drafting supporting materials to promote understanding and commitment.

Build relationships with various internal and external stakeholders.

Keep all stakeholders informed of regulatory requirements, changes and deadlines.

Policy Development & Implementation

Help develop policies and procedures for an area of the organization or the group as a whole and monitor their implementation.

Drive an awareness of these policies and procedures and ensure training is undertaken throughout the organisation on an ongoing basis.

Contract Requirements

Ensure contracts meet all compliance requirements and where required, notifications have been actioned.

Identify trends, summarize findings, and give feedback on existing contract requirements, and provide input to ensure compliance in contract processes.

Leadership and Direction

Communicate the local action plan; explain how this relates to the function's strategy and action plan and the broader organization's mission and vision.

Motivate people to achieve local business goals.

Improvement / Innovation

Identify shortcomings and suggest improvements to existing processes, systems and procedures, then deliver a plan for a small element of a change management program with guidance from a project/program manager.

Personal Capability Building

Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation where relevant to improve performance and fulfil personal potential. Maintain an in-depth understanding of technology, external regulation including new compliance developments, and industry best practices through ongoing education, attending conferences, and reading specialist media.

BEHAVIORAL COMPETENCIES

Action Oriented: Takes on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm. For example, takes immediate, decisive, independent action to resolve issues or problems. Persists as needed. Quickly and consistently identifies and pursues beneficial new opportunities.

Decision Quality: Makes good and timely decisions that keep the organization moving forward. For example, knows when to act independently and when to escalate issues. Integrates various inputs, decision criteria, and trade-offs to make effective decisions. Typically makes good independent decisions.

Instills Trust: Gains the confidence and trust of others through honesty, integrity, and authenticity. For example, demonstrates integrity, upholding professional codes of conduct. Instills trust by following through on agreements and commitments despite competing priorities and by being honest and straightforward.

Manages Complexity: Makes sense of complex, high quantity, and sometimes contradictory information to effectively solve problems. For example, looks at complex issues from multiple angles; explores issues to uncover underlying issues and root causes; sees the main consequences and implications of different options.

Communicates Effectively: Develops and delivers multi-mode communications that convey a clear understanding of the unique needs of different audiences. For example, disseminates knowledge, insights, and updates in a polished, precise, and compelling manner. Demonstrates a deep interest in others' comments. Creates rich documents and reports.

Optimizes Work Processes: Knows the most effective and efficient processes to get things done, with a focus on continuous improvement. For example, encourages and rewards continuous improvement and quality outcomes. Equips others to handle day-to-day tasks effectively on their own. Integrates systems to improve quality and service.

Balances Stakeholders: Anticipates and balances the needs of multiple stakeholders. For example, shows a strong commitment to identifying all relevant issues and making decisions that maximize outcomes for all key stakeholders. Engages effectively with multiple stakeholders and responds with well-balanced, win-win solutions.

Persuades: Uses compelling arguments to gain the support and commitment of others. For example, convinces others through a variety of means and methods of persuasion, including well-reasoned rationale. Recognizes when compromise is necessary and shifts approach to accommodate others.

Manages Ambiguity: Operates effectively, even when things are not certain or the way forward is not clear. For example, responds effectively to unclear situations, seeks to resolve ambiguity and make progress. Seeks guidance on how to adapt to changes, responds with appropriate composure and effectiveness.

Ensures Accountability: Holds self and others accountable to meet commitments. For example, tracks performance and strives to remain effective, learning from both successes and failures. Readily takes on challenges or difficult tasks and has a reputation for delivering on commitments.

Being Resilient: Rebounds from setbacks and adversity when facing difficult situations. For example, has excellent composure and professionalism, even in very difficult situations; acts as a steadying force or role model for others. Skillfully overcomes obstacles, learns from failures, and uses these lessons to improve subsequent efforts.

Nimble Learning: Learns through experimentation when tackling new problems, using both successes and failures as learning fodder. For example, swiftly incorporates new concepts and principles into own expertise; skilfully uses these fresh insights to enhance performance.

Directs Work: Provides direction, delegating, and removing obstacles to get work done. For example, delegates tasks, providing generally clear expectations to staff. Coordinates and integrates the team's work, reducing duplication. Measures team progress using the right indicators; recognizes when problems or shortfalls occur.

Business Insight: Applies knowledge of business and the marketplace to advance the organization's goals. For example, clearly understands how own activities relate to critical business drivers. Monitors business news and market changes for impact on the business or on own expertise area; uses this to shape decisions.

SKILLS

Compliance: Use comprehensive knowledge and skill to act independently while guiding and training others on achieving full compliance with applicable rules and regulations in management and/or operations.

Monitoring and Advice: Work independently and provide technical guidance when required to conduct monitoring and provide advice, identify exceptions and develop specific solutions or recommendations.

Review and Reporting: Apply comprehensive knowledge and skills to work independently while providing guidance and training to others to review and create relevant, lucid and effective reports.

Policy and Regulation: Work independently and provide guidance and training to others to interpret and apply comprehensive knowledge of laws, regulations and policies in area of expertise.

Insurance Act, FAIS Act, Companies Act, POPI Act, TCF, National Credit Act, PAIA, ECT Act, Medical Schemes Act, Pension Fund Act.

Data Management: Work independently and provide technical guidance when required to acquire, organize, protect and process data to fulfil business objectives.

Data Collection and analysis: Work independently and provide technical guidance when required to analyse data trends for use in reports to help guide decision making.

Verbal & Written Communication: Apply comprehensive knowledge and provide guidance and training to others to use clear and effective verbal communication skills to express ideas, request actions and formulate plans or policies.

Action Planning: Work independently and provide technical guidance when required to develop appropriate plans or perform necessary actions based on recommendations and requirements.

Planning and Organizing: Work independently and provide technical guidance when required to plan, organize, prioritize and oversee activities to efficiently meet business objectives.

Policy and procedures: Work independently and provide technical guidance when required to develop, monitor, interpret and understand policies and procedures, while making sure they match organizational strategies and objectives.

Project Management: Use comprehensive knowledge and skills and guide and train others to manage projects and/or programs within desired cost, time and quality parameters.

Computer skills: Support business processes by understanding and effectively using standard office equipment and standard software packages, while providing technical guidance as needed.

PROFICIENT IN MS OFFICE, TECH SAVVY.

TOOLS

Compliance: Knowledge of Automation; Exception Reporting; Compliance Management Rating Systems and Tools.

EDUCATION

General Education

• Grade 12/ SAQA Accredited Equivalent (Essential); BProc/LLB Degree or other equivalent degree
• Registration as Compliance Officer with the FSCA (Essential)
• Registration with the Compliance Institute (Advantageous)
• Diploma in Compliance Management (Advantageous)
• Admitted Advocate/Attorney (Advantageous)

EXPERIENCE

General Experience

• 5 or more years’ relevant experience in the Insurance and Financial Industry (Essential)
• Knowledge of monitoring and compliance processes (Essential)

Managerial Experience

• 1 - 3 years’ experience in supervising and directing people and other resources to achieve specific end results within limited timeframes (Essential)

SAQA Accredited Equivalent - it is the onus of the applicant to provide 1Life and its subsidiaries with certified evidence that their qualification(s) meet the equivalent NQF level required for this role at time of application. *Financial Sector Conduct Authority (FSCA) competency requirements: FAIS recognised qualifications / Regulatory Examinations / Class of Business Certification and / or CPD according to your DOFA (where applicable). As a registered Financial Service Provider, we are mandated to ensure that all our representatives are and remain fit and proper at all times. By applying for this role, you consent to having your relevant qualification and or accreditation or confirm that you are working towards meeting the competency requirements. You further consent to the relevant information being verified.