Compliance Analyst

The Federated Employers Mutual Assurance Company (RF) Proprietary Limited (FEM) was established as a mutual insurer in 1936 and on the introduction of the Workmens Compensation Act 1941 was granted a license to continue to transact workmens compensation insurance for the building and construction industry. This insurance compensates employees or their dependents following an injury arising from occupational accidents and illness occasioned by industrial diseases. FEMs operations are essentially confined to the insurance of employers against their liabilities under the Compensation for Occupational Injuries and Diseases Act 1993 (COIDA). FEM operates under license from the Minister of Employment and Labour and is also registered as a non-life insurer, with premium income in excess of R1 billion and total assets in excess of R9 billion.

FEM is looking to appoint a Compliance Analyst. Reporting to the Compliance Manager, the successful applicant will have the overall responsibility to manage and maintain the compliance framework and related policies, procedures, and processes.

The position is also responsible for inter-alia:

• The identification of regulatory , industry and legislative developments and communicating same to the business as well as the impact of these changes on business.
• Facilitating the submission of quarterly regulatory reports to the Prudential Authority and/or ad hoc submissions to other regulatory bodies where required.
• Engaging with business in the development of compliance deliverables such as gap analyses and impact assessment analyses.
• Review and update of the company Compliance Universe.
• Maintenance and update of the company Policy Register.
• Monitoring the external whistleblowing hotline and the communication of incident reports to business as well as following up on remedial action items.
• Drafting of compliance reports for Exco, the Social and Ethics Committee and the Risk and Compliance Committee and submission of same to the Compliance Manager for review.
• Providing compliance advisory services to business where required.
• Development of compliance training material and the execution of compliance training.
• Assisting in developing the compliance culture through awareness initiatives.

The compliance resource should ideally have a law (LLB) degree and with a minimum of 3 to 5 years related compliance experience. Degrees in finance, accounting, science etc. will be considered. Adequate demonstrable experience in developing compliance frameworks, compliance risk managements plans (CRMPs), risk and control identification and assessment, and conducting compliance monitoring is a mandatory requirement of the position. The incumbent must be a member of the Compliance Institute. The incumbent must have obtained a diploma in Compliance Risk Management. Experience in compliance risk management in the financial sector industry is necessary for the position. The C. Prac designation or registration towards obtaining same will definitely be an advantage. This position is not an entry level position, and the incoming candidate will be expected to exhibit the requisite technical skills and knowledge to execute and deliver on the compliance functions mandate immediately. The incumbent must have had experience with engaging with senior members of business and experience in stakeholder engagement as well as compliance report writing. The incumbent must exhibit honesty, integrity and display ethical behavior.

We have offices regionally in Cape Town, Durban and Johannesburg. This position is based in Rosebank, Johannesburg.

In exchange for the candidates successful services, FEM offers a competitive total cost to company remuneration with good benefits.

The role will be located in Rosebank, Johannesburg. FEM currently works on a hybrid basis.

Candidates are invited to submit a detailed CV by close of business on 09 August 2024 via the recruitment portal using the following link https://fema.simplify.hr/vacancy/jqgkjs.

FEM promotes the principles of Employment Equity, and the appointment of this candidate will be at FEMs sole discretion.