The Compliance Officer is responsible for assisting the Compliance Manager in ensuring the implementation and maintenance of an effective and well-monitored regulatory compliance framework within SLS, with a primary focus on Sanlam Group Risk and Sanlam Corporate Investments.
The role supports the identification, management, and monitoring of regulatory compliance risks and promotes adherence to applicable legislation, regulatory requirements, and internal governance standards
What will make you successful in this role?
Identification and risk rating of applicable laws and regulations
Implementation and maintenance of the compliance framework and processes
Compliance risk assessments, development, and implementation of compliance risk management plans
Developing and maintaining compliance monitoring plans
Conducting compliance monitoring
Compilation of internal and external compliance reports
Implementation of remedial action
Review regulatory training material to ensure that training requirements are met
Provide compliance training
Presenting to and engaging the relevant business areas on compliance feedback and corrective action
Provide guidance on regulatory developments and group policies
Assist with the promotion of a culture of compliance and awareness within Sanlam Corporate by actively participating in compliance projects and training initiatives
Working knowledge of the legislation
Analyse and interpret regulation and legislation
Ability to advise on legislation and understanding the impact that it has on business
Ability to comment on regulatory developments and advise business on changes
Ability to interact with industry bodies on legislation
Timeous involvement in key regulatory projects in order to pro-actively provide compliance guidance to business
Qualification and Experience
Minimum of 3-5 years' experience in compliance including exposure to insurance and investment businesses
LLB, BComm (Law) or relevant legal qualification
Applicable regulatory exams
Experience in providing compliance advice, conducting monitoring activities, and managing regulatory risk within insurance and/or investment environments
Member of the Compliance Institute of Southern Africa - Certified Compliance Practitioner (CPrac) designation would be advantageous
Knowledge and Skills
A strong working knowledge of the financial services industry and its regulatory environment (with a specific focus on Insurance, FAIS and medical legislation)
Sound knowledge and practical compliance experience relating to FAIS, the Long-term Insurance Act, Conduct Standards, Policyholder Protection Rules, FICA and other applicable financial services legislation
A thorough understanding and knowledge of development and execution of compliance risk management and monitoring plans
Working knowledge of the Generally Accepted Compliance Practice Framework
Ability to work well under pressure, independently and as part of a team