Insurance Manager: Risk & Compliance VLA

Role Purpose

To assist the Executive Head of Compliance with the implementation and monitoring of insurance compliance and regulatory controls in the insurance companies and across other financial related services within the insurance group.

Your Responsibilities Will Include

Regulatory and Legislative Compliance Monitoring, Analysis and Reporting

Establishing a regulatory framework for the long-term insurance business and sensitizing relevant internal stakeholders.

Ability to translate and embedding the long-term regulatory requirements into business processes.

Document existing controls within the business processes in order to assess their adequacy and effectiveness.

Collate and analyse information from various sources in order to assess the adequacy and effectiveness of the internal compliance controls. The information must be documented together with action items and control plans and communicated to relevant internal stakeholders.

Engage with the outsourced service providers to assess levels of risk and compliance. Recommend areas of improvement and identify action items to be put in place to rectify areas of non-compliance.

Compile monitoring reports and communicate findings to relevant stakeholders

Stakeholder management

Analyse complaints (internal and external) for trends and reports findings to relevant stakeholders

Liaise with External Regulatory Stakeholders ie. Various Ombuds, PA, FSCA, SARB etc.

Engage with Internal (Project Support) and External (Regulator and/or Suppliers) business stakeholders.

Assist in the implementation of the compliance training and awareness program

Assist management to create a compliance culture and with embedding compliance principles, values and sound business practice into existing training mediums

Assist management to create new mediums of communication to enhance compliance awareness and knowledge within the company

Financial Services regulation analysis and documentation

Assists with the analysis and documentation of regulatory compliance requirements especially as it relates to long-term insurance opportunities.

Develop risk management plans for relevant legislation and maintain a regulatory universe for insurance.

Assessing the risk of changes to Regulatory Environment

Identify and track changes to existing and new laws

Impact analysis across business processes and systems

The Ideal Candidate For This Role Will Have

3 year Degree or National Diploma essential in BCom, LLB, BA Law, or related and

A minimum of 5 years relevant experience in risk and compliance within the insurance industry.

Job Knowledge

This requires specialist experience and knowledge of the Insurance Acts, FICA Acts and its subordinate regulations, PoPI Act and all associated laws and regulations pertaining to insurance industry.

Job Skills

Ability to transfer regulatory knowledge into sound business practices.

Analytical and sound financial skills

Effective interpersonal and communication (verbal and written skills)

Relationship management including influencing and persuasion skills

Presentation and facilitation skills

Closing date for Applications: 23 March 2023

The base location for this role is Midrand, Vodacom Campus

The Companys 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.

Vodacom is committed to an organisational culture that recognises, appreciates and values diversity & inclusion.