Job Title Compliance Officer (Cat I)

Location Pretoria / Bellville / Port Elizabeth

Employment Permanent
Purpose statement Ensure Efficient Insure complies with regulatory requirements, internal policies, and that the necessary documentation is compiled for the different exposures to minimise risk to the division in managing the compliance risk associated with Efficient Insure.
Responsible for the effective planning, control and execution of monitoring for our short-term business, Efficient Insure.

Position in the organisation Reports to:
Compliance Manager
Subordinates:
N/A

Duties

People
Regular interaction with representatives, colleagues, and management to ensure the effective delivery of compliance processes and activities

Processes
• Risk Management support (Efficient Insure)
o Manage compliance across the business unit, ensuring that Efficient Insure and its employees comply with regulatory requirements as well as internal policies and procedures
o Implement an effective coverage plan and compliance regulatory universe, including but not limited to the management of compliance monitoring risks, risk mitigation strategies, supervision, Fit & Proper, registers, client complaints and training initiatives, to ensure proper conduct. Implement, monitor and manage this plan as required
o CRMP updated and maintenance thereof

• Fit and Proper & General Administration
o Co-ordinating meetings on behalf of line manager
o Conduct and monitor quarterly ITC and provide findings to Client Liaison department and line manager
o Responsible for processing of all profile changes and licensing requirements
o Responsible for the addition and removal of representatives on the company’s FAIS license
o Class of Business - Liaising with training providers and coordinating the bulk registration. Coordinating and monitoring COB training and requirements.
o Product Specific Training - Coordinating and monitoring PST training and requirements.
o Short Term Insurance Broker fee justification requirements and monitoring
o Supervision – drafting of agreements, registration, and monitoring
o Responsible for ensuring that information is updated regularly in respect of all compliance registers


• Internal audits and monitoring (Efficient Insure)
o Compile and deliver a monthly file monitoring schedule as per the monitoring and risk-based methodology
o Conduct monitoring as per the plan and report to line manager with findings and risk rate representatives; accordingly. Audit includes quality of file and advice given
o Liaise with internal departments for relevant information to audit and keep proper records on system
o Feedback communicated to representative, and any adverse findings escalated to line manager
o Monitoring includes Annual Review monitoring
o Identify potential compliance breaches
o Monitoring of Binder Agreements
o Monitoring of Juristic Representatives associated with this license

• Reporting (Efficient Insure)
o Accountable for the preparation and submission of monthly, quarterly as well as annual data within own area of responsibility

• Co-ordination of Projects
o Assist with the admin related to ad hoc projects

• General
o Responsible for remaining abreast of current affairs as well as regulatory changes
o Attendance of regular compliance meetings, reading and training coordination
o Responsible for the resolution of day-to-day compliance queries relating to Efficient Insure as well as other departments within the company and escalating where necessary

Job Evaluation Criteria
Formal Education
Compliance certificate, or related degree
RE1 and RE3
Registered Phase 1 Compliance Officer with the FSCA advantageous

Experience:
Five years’ related experience in a compliance function in Financial Services with working knowledge of FICA and FAIS.
Exposure in a financial advisory services provider will be beneficial. (Cat I)

Critical Competencies
Knowledge
- Administration
- Technological: Microsoft Office
- Bilingual (fluent in English and Afrikaans)
- Professional service delivery
- Products within Industry
- FAIS, FICA and related Acts i.e. Long and Short Term Insurance
Skills
- Multiple project coordination
- Ability to apply facts to the rules and regulations
- Attention to detail
- Methodical and highly organized
- Process Driven
- Dependable
- Written and verbal communication skills
- Pro-active

Only shortlisted candidates will be contacted