Compliance Specialist

Role Purpose

Implement the compliance strategy aligned to the compliance monitoring plan to enable the business within a legal framework.

Requirements

• Post graduate qualification in Compliance Management
• Qualifications as per fit and proper requirements to be registered as a licensed compliance officer with the FSCA
• Degree in Commercial, Risk Management, Audit, Finance, Legal, Business or related field
• 2 - 5 Years compliance related experience
• Experience in the insurance and financial services industry (preferred)

Duties and Responsibilities

Execute compliance activities based on the Compliance Monitoring Plan in order to provide assurance on the level of regulatory compliance

• Monitor new regulatory mandates, rules and requirements, ensure that compliance policies are kept up to date and that revisions are disseminated in a timely manner
• Design and implement compliance training and educational programmes; actively participate in management training, including new starter induction programmes
• Provide advice on compliance with applicable laws and regulations to the business to ensure ongoing adherence and compliance.
• Assess the possible impact of any regulatory development on the operations of the business and work with the business with regard to compliance
• Conduct compliance monitoring reviews and audits based on audit schedule and ad hoc requirements as required by the Internal Auditor or business leader
• Review and monitor completed audits and follow up on any recommendations made
• Execute the regulatory compliance breach management and follow-up process in order to address the identification, analysis and resolution processes to be followed as well as the escalation procedures.
• Provide professional advice and guidance to business regarding compliance matters.
• Contribute to the initiation of critical statutory projects relevant to the business and monitor the appropriate implementation thereof by the business.
• Create awareness within business regarding new compliance requirement or provide guidance on potential impact of compliance requirements
• Support the business stakeholders identify compliance risks or weaknesses for which the business should consider additional mitigating action, or processes and/or procedures.
• Initiate, contribute and prepare the necessary documentation for the submission of business enabling statutory applications to applicable regulatory and industry or supervisory bodies
• Build relationships with internal and external stakeholders as well as the wider compliance community within the MMI Group.
• Provide input from a compliance perspective and act as trusted advisor in business projects and initiatives.
• Deliver compliance reports that highlight compliance activities and instances of non-compliance, both internal and external within agreed time frames.
• Initiate and contribute to the review of all critical business policies from a regulatory compliance perspective and make recommendations for improvement.
• Identify, assess, manage, monitor and report on compliance risks that the company face.
• Execute compliance activities based on the Risk-based compliance plan in order to provide assurance on the level of regulatory compliance.

Build and maintain relationships with internal and external stakeholders

• Contribute to the process of negotiating objective and realistic service level agreements, monitor appropriateness and recommend adjustments
• Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed
• Make recommendations to improve client service and fair treatment of clients within area of responsibility
• Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service

Build strong relationships through providing specialist know-how and leadership to others, expressing positive expectations.

• Continuously develop own expertise in terms of industry and subject matter development and application thereof in an area of specialisation.
• Positively influence and manage change and offer specialist support where required.
• Contribute to continuous innovation through the development, sharing and implementation of new ideas and involvement of colleagues and staff.
• Participate and contribute to a culture of work centric thinking, productivity, service delivery and quality management.
• Take ownership for driving career development

Contribute to the development of business cases for proposal to decision-making bodies.

• Identify solutions to enhance cost effectiveness and increase operational efficiency.
• Implement and provide input into governance processes, systems and legislation within area of specialisation.
• Escalate unresolved policy and governance compliance issues via appropriate channels for investigation and resolution purposes
• Provide input into the risk identification processes development and communicate recommendations in the appropriate forum.