Manager: Compliance at Santam Insurance

What will you do?

• Our Risk Office (Group Compliance) has a position available for a Manager: Compliance who will be based in Bellville (Cape Town).
• The Compliance Function is mandated to ensure that the compliance risks (i.e. compliance with regulatory, ethical, and internal and external policy obligations imposed on the Group) are appropriately monitored and addressed by management. A risk-based approach is adopted to ensure that material compliance risks are addressed and mitigated by the business.
• The compliance function is accountable to the Santam Group Board, through the Santam Group Risk Committee to ensure that compliance risks are appropriately monitored and addressed by management. 
• This is a Group function which will operate in all jurisdictions where Santam has a footprint in alignment with the necessary mandate. The role of the Manager: Compliance will be to assist the Group Compliance Function in the Execution of the Group Compliance mandate as set out by the Board.

What will make you successful in this role?

• Compliance Risk Management
  • Ensuring that Compliance Risk Management Plans, monitoring plans and Compliance Universes are regularly updated
  • Conduct Compliance risk assessments across the businesses and to provide pro-active guidance to the businesses in addressing compliance risks (which includes compliance with legal, regulatory and ethical obligations and standards applicable to the businesses).
• Monitoring Compliance and Reporting
  • Conducting Compliance Audits/Reviews to monitor adherence to compliance obligations and preparing the relevant compliance reports to the various levels of management in the businesses.
• Provide appropriate input into compliance projects where required. 
  • Render appropriate Compliance advice/guidance, training to the businesses as required 
• Keep up to date with regulatory developments in the financial services industry (life and non-life industry) to ensure that compliance team and management receives updated information. 

Qualification and Experience

• At minimum an NQF Level 8: Degree in Law and at a postgraduate level 
• Post graduate Diploma in Compliance
• Registered as a Compliance Officer under the FAIS Act for Category I FSPs with the FSCA.
• Admitted attorney of the High Court.
• Continuous adherence to the fit & proper requirements as determined by the Prudential Authority and the Financial Sector Conduct Authority.
• Extensive knowledge of legislation, regulations and legal principles applicable to the financial services industry, in particular the insurance sector (non-life).
• At least 5-8 years of experience in financial services industry, in particular the insurance sector (non-life).
• At least 6-8 years of experience in compliance.
• Good knowledge of the Protection of Personal Information Act and its requirements
• 5 - 8 years management experience at management level.

Knowledge and Skills

• In-depth technical knowledge of regulations and legal requirements applicable in the insurance financial services industry 
• Ability to influence people 
• Good business acumen 
• Ability to build a wide network 
• Excellent communication skills (both written and verbal) 
• Assertive 
• High level of emotional maturity
• Logical thinking
• Intermediate/Advanced knowledge and use of Microsoft Word, Excel, Powerpoint.
• Excellent critical thinking and analytical skills
• Self-confidence
• Excellent attention to detail
• Ability to work with complex legislation and information
• Regulatory framework (SA and other jurisdictions Santam operate in)
  • Insurance Acts of SA and where applicable in foreign jurisdictions
  • Long-term Insurance Act and Short-term Insurance Act and subordinate legislation
  • FAIS Act
  • COFI Bill
  • Non-insurance specific legislation affecting the company (Companies Act; Labour legislation, POPIA; PROATIA, FICA etc.)
  • Industry Governance codes and listing requirements (King IV, SAIA)

Core Competencies

• Being resilient - Contributing through others
• Collaborates - Contributing through others
• Cultivates innovation - Contributing through others
• Customer focus - Contributing through others
• Drives results - Contributing through others