•  Gauteng
    • June 29, 2022
    • July 1, 2022
    •  Contractor
  •  Banking, Finance , Risk, Insurance Jobs

Job Summary

To ensure that LBIC and LBLIC complies with all relevant statutory, regulatory and supervisory requirements which relate to the Insurance, Financial services Industry as well as Professional standards, Accepted business practices and Internal standards, as well as providing the companies with legal advisory services and training on current and upcoming legislation

Duties And Responsibilities

1. Compliance Management

Design, develop and implement compliance frameworks
Develop a comprehensive compliance programme that is integrated with LBIC and LBLIC’s strategic planning process
Develop or review compliance framework
Advise management on implementing and maintaining an appropriate compliance framework which meets the compliance-related objectives of the organisation
Implement or review compliance structures so as to encourage encourage a compliance culture
Design and develop or review and revise compliance policies or charters and manuals

2. Ensure compliance through best fit compliance practice aligned to regulatory requirements and create awareness with stakeholders to embed a compliance culture

Identify, assess and prioritise all the applicable regulatory requirements that LBIC and LBLIC are required to comply with
Identify and analyse LBIC and LBLIC’s regulatory risk universe
Facilitate workshops with relevant business owners to categorise and assess the applicable regulatory requirements in order to prioritise and categorize risks
Apply Generally Accepted Compliance Practice when monitoring and advising on the regulatory universe
Provide compliance advice, services and reporting to compliance stakeholders
Evaluate current compliance practices and identify areas of concern
Participate in the decision making processes or, e.g. in respect of new product or new business committees

3. Assurance and Monitoring

Develop the compliance risk identification matrix of LBIC & LBLIC to understand the business and all applicable legislation (compliance process phase1).
Develop the compliance risk priorization index to categorise and prioritize and classify the applicable legislation to LBIC & LBLIC (compliance process phase 2).
Develop control optimization and risk management plans for applicable legislation (compliance process phase 3).
Develop compliance risk monitoring plans and reporting tools for all applicable legislation and reporting (compliance process phase 4).
Develop a compliance monitoring plan and compliance programme to ensure monitoring of the LBIC and LBLIC compliance risk as well as compliance to laws, regulations and supervisory requirements.

4. Build and Maintain stakeholder relationships

Build and maintain effective regulator and stakeholder relationships.
Develop and maintain professional working relationships with regulators and other stakeholders through formal and informal interactions.
Develop a plan to manage an organisation’s relationship with all regulators / supervisors that have jurisdiction.
Coordinate communication channels and liaison with regulators and supervisors.
Participate and oversee where necessary in regulatory inspections.
Represent the the organization on governance compliance related matters and various forums.
Participate in industry body to ensure alignment of compliance methodology and influence national trends in compliance risk management.
Present and maintains oversight of all statutory reports that are sent to regulators and external stakeholders.
Manage and ensure all internal and external regulatory reporting requirements are adhered to.

5. Compile Compliance Reports

Determine the governance requirements relating to compliance reporting

Determine reporting stakeholders (to the executive committee, audit & risk committee and the board)
Determine governance requirements relating to compliance reporting

Determine the compliance reporting requirements to stakeholders and regulators / supervisors in terms of regulatory and/or organisation requirements

Analyse regulatory requirements relating to reporting to regulators / supervisors
Determine regulatory reporting requirements relevant to the organization
Coordinate communication channels and liaison with regulators and supervisors.
Participate and oversee where necessary in regulatory inspections.

Determine, Manage and Maintain a compliance reportingprocesses

Advice and allocate responsibility for the submission of reports to designated persons
Collect, collate and analyse input from management and stakeholders within submission deadlines

6. Provide Legal Advise

Providing management with legal opinions on various legal matters affecting the companies
Drafting and vetting of agreements
Contract Management

Qualifications And Experience

Preferred Minimum Education and Experience

Degree in Finance or Law
5 years Financial Services Industry
5 years Compliance Management experience within financial services

How To Apply

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