Compliance Officer

Job Classification

Job Family

Risk, Audit and Compliance

Career Stream

Regulatory Compliance

Leadership Pipeline

Manage Self: Professional

FAIS Affected

Job Purpose

Management and oversight of the Key Individual oversight process(which includes Compliance audits) to ensure that the required compliance requirements, business and operational policies and processes are adhered to through a compliance audit process, providing advice and guidance to minimise regulatory; reputational and compliance risk and endeavour to avert potential litigations/ penalties.

Job Responsibilities

Performing the required compliance audits and providing detailed reporting of the outcomes that includes recommendations regarding the required mitigating actions
Provide guidance on compliance audit requirements and oversee the implementation of action plans to align to the business requirements
Management of the compliance audit requirements to provide insights on regulatory, operational and external developments to ensure proactive awareness and management of Key Individual compliance, risk and advice issues
Performing a leading role in the review of the compliance audit and 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 the compliance audit, compliance and advice related regulatory changes and oversee the implementation of action plans to align to the upcoming regulatory requirements
Ensure effective management by monitoring adherence to compliance policies and procedures and relevant regulatory frameworks and taking corrective action where necessary
Share knowledge and industry trends with team, colleagues and stakeholders during formal and informal meetings
Seek opportunities to improve business system and processes by the identification and recommendation of effective ways of operating and adding value to Nedbank
Build and maintain effective stakeholder relationships through adherence to the stakeholder framework and ongoing communication
Ensure optimisation of resources and work flow to increase productivity by ensuring effective resource management and work allocation

Job Responsibilities Continue

Ensure distinctive customer experience through driving the Key Individual compliance, risk management and Market Conduct strategies
Ensure synergy between business units and stakeholders through consistent and constant communication
Ensure active and successful growth of Nedbank market share across the segments through effective risk management and the enhancement of business systems and processes
Ensure issues raised in the Nedbank staff surveys are addressed and results are improved by ensuring action plans are created
Deliver a world class service through others by ensuring a client centric culture through required interventions
Identify areas of resource inefficiencies and promote optimisation through promoting multi-skilling and addressing capacity gaps by reviewing and improving work processes
Optimise efficiency and embed correct values by ensuring that the business representatives understand and support Nedbank's vision; values and strategy and are measured on delivery against these
Manage performance through GCC's; ensure a clear vision; agreeing on goals and objectives; providing and receiving regular feedback on performance; recognising and rewarding achievement and take appropriate corrective action where required
Identify relevant development needs by assessing own performance and behaviour through formal and informal feedback
Drive to execute planned development by attending learning; seeking coaching or other industry or technical learning events and opportunities
Build depth of skills and knowledge in the team by sharing knowledge and insight with team members

People Specification

Essential Qualifications - NQF Level

Advanced Diplomas/National 1st Degrees

Preferred Qualification

Relevant Representative and Key Individual Regulatory Examination (RE1 and RE5) (Adventageous)

Relevant Insurance Industry Specific Qualifications And Experience

Advanced Diploma/ Relevant Degree ( Compliance / LLB/ Risk Management)

Essential Certifications

Preferred Certifications

Compliance Institute of South Africa (CISA) - preferred, not essential

Minimum Experience Level

3-5 Years in a short/long term insurance Compliance or similar role.

Technical / Professional Knowledge