About the position
Compliance Officer position available in Johannesburg.
Key Responsibilities:
- Regulatory Monitoring: Continuously monitor and interpret current and evolving insurance regulations, statutory requirements, and industry standards at the local, national, and international levels.
- Policy Development and Implementation: Develop, update, and implement company compliance policies, ensuring they reflect changes in legislation and regulatory expectations.
- Training and Education: Design and deliver compliance training programs to educate employees on regulatory requirements, company policies, reporting obligations, and ethical considerations.
- Risk Assessment: Conduct regular risk assessments and compliance audits to identify potential areas of vulnerability, recommend corrective actions, and ensure timely remediation of identified issues.
- Reporting: Prepare and submit comprehensive compliance reports to senior management and regulatory authorities, highlighting key findings, risks, and mitigation strategies.
- Advisory Support: Serve as the primary point of contact for compliance-related inquiries, offering expert advice to business units and executive leadership regarding regulatory obligations and industry best practices.
- Incident Management: Investigate suspected or confirmed violations of compliance policies, coordinate with legal counsel as needed, and facilitate effective resolution of compliance incidents.
- Licensing and Filing: Oversee regulatory filings, licensing renewals, and other compliance documentation to ensure timely and accurate submissions to governing bodies.
- Collaboration: Work closely with internal stakeholders—including underwriting, claims, sales, IT, and finance teams—to integrate compliance into business processes and strategic decisions.
- Continuous Improvement: Identify and implement opportunities to streamline compliance processes, leverage new technologies, and enhance the organization’s compliance program.
- Comprehensive Regulatory Knowledge: In-depth understanding of insurance laws, regulations (such as Solvency II, GDPR, FICA, POPIA), and industry practices.
- Analytical Acumen: Strong ability to analyze legal documents, interpret regulatory changes, and assess their impact on business operations.
- Communication Skills: Excellent written and verbal communication skills to clearly convey complex regulatory information to diverse audiences.
- Attention to Detail: High level of accuracy in reviewing documentation, conducting audits, and preparing reports.
- Ethical Judgement: Commitment to maintaining the highest ethical standards and promoting a culture of integrity.
- Problem-Solving: Proactive approach to identifying issues, investigating root causes, and recommending practical solutions.
- Project Management: Ability to manage multiple projects simultaneously, prioritize tasks, and meet tight deadlines.
- Collaboration: Experience working effectively with cross-functional teams and external stakeholders.
- Technological Proficiency: Familiarity with compliance software, data analytics tools, and Microsoft Office Suite.
- Adaptability: Capacity to thrive in a dynamic regulatory environment and adapt to organizational change.
- Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
- Professional certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Insurance Compliance Professional (CICP), or equivalent (preferred)
- Minimum of 3-5 years’ experience in regulatory compliance or legal roles within the insurance industry (required)
- Demonstrated experience in policy development, regulatory reporting, and compliance audits
- Familiarity with local and international insurance regulations and reporting requirements
Qualifications and Experience:
- Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
- Professional certifications (preferred)
- Minimum of 3-5 years’ experience in regulatory compliance or legal roles within the insurance industry (required)
- Demonstrated experience in policy development, regulatory reporting, and compliance audits
Desired Skills:
- Compliance
- legislative knowledge
- discretionary financial services
