Senior Compliance Officer - Johannesburg, South Africa - Nedbank

Nedbank

Verified Company

Johannesburg, South Africa

1 week ago

Posted by:

Thabo Mthembu

beBee Recruiter

Description

Job Classification

Requisition

Location:

135 Rivonia Road, Sandton
Cluster Wealth Cluster Nedbank Insurance Division, Distribution business unit
Closing Date 24 March 2023**Please note
Preference will be given to applicants from Underrepresented Groups*
Job Family
Risk, Audit & Compliance
Career Stream
REGULATORY COMPLIANCE
Leadership Pipeline
Manage Self Professional
FAIS Affected
FAIS Affected
Yes
Job Purpose
To assist the Nedbank Insurance Management team with the coordination; facilitation and management of Compliance and Advice through creating analytical tools; reporting and developing networks; providing advice to minimise regulatory; reputational and compliance risk and endeavour to avert potential litigations/ penalties and ultimately increase shareholder value
Responsibilities:
Assist managers within the Business Unit to monitor risks related to compliance and advice requirements by providing guidance or offering expert advice to compliance officers and Group Internal Audit.
Align solutions with the strategic direction and create new ways of solving problems
Sourcing and consolidating data to develop and enhance tools to measure Key Compliance Indicators and trends relating to potential compliance and advice risk in e.g. the execution of sales, aftersales during the product and client lifecycles.
Management of the Risk, Compliance and Advice requirements to provide insights on regulatory, operational and external developments to ensure proactive awareness and management of compliance risk and advice issues.
Performing a leading role in review of compliance related regulatory changes through internal consultation and provide commentary on the proposed legislation which include offering proposals on alternative wording of requirements.
Provide Subject Matter Expert guidance on Compliance and Advice Related regulatory changes and oversee the implementation of action plans to align to the upcoming regulatory requirements.
Provide overview and reporting of the status of the Compliance and Advice risk of Nedbank Insurance Distribution to management and Regulators.

People Specification

Lead the creation of an innovative culture by championing innovation and continuous improvement in Nedbank with specific emphasis on conduct related Compliance Risk Management.
Facilitate achievement of Nedbank Strategy by formulating, maintaining and executing a strategic plan for

Group Compliance:
Compliance Services (Market Conduct Compliance Office) and contributing to development of Nedbank Group strategy.

Drive implementation of Conduct related Compliance risk by establishing appropriate structure for monitoring performance against plans and budgets; taking remedial action where necessary reporting on performance and engaging with stakeholders.
Ensure sustainable business through alignment of business structures; systems; processes and people and developing tools to measure the conduct related compliance risk across these.
Meet Nedbank standards of staff performance by managing the recruitment; development; training and performance management of staff.

Essential Qualifications

NQF Level
Advanced Diplomas/National 1st Degrees

Essential Qualification

Bachelors qualification in Law/Commerce or Risk Management
Post Graduate Diploma: Compliance
Essential Certifications
Certifications
FSCA approved FAIS Compliance Officer
CISA accreditation (C Prac/C Prof)
Other professional designations in field of expertise
Minimum Experience Level years experience in a Short Term Insurance Risk, Advice, Audit and Compliance role with a short term insurance intermediary and/ or short term insurance provider of which 5 years should be at a management level.
Technical / Professional Knowledge
Relevant regulatory knowledge
Risk management process and frameworks
Cluster Specific Operational Knowledge
Governance, Risk and Controls
Compliance reporting
Reputational risk management
Stakeholder management
Codes of Good Governance