Sanlam Developing Markets [SDM] (a wholly-owned subsidiary of Sanlam Life Limited) is one of the top financial services providers in the South African entry-level and emerging middle market. It aims to understand the unique requirements of clients and offers a wide range of simple and affordable financial solutions that cover needs such as funeral insurance, savings for education, life cover and personal accident plans. In terms of the Sanlam Group Governance Policy, SDM is managed by the SA Retail Mass cluster, which is part of the Sanlam Life and Savings cluster within the Sanlam Group. The cluster focusses on retail products, as well as group schemes.
What will you do?
- Provide legal and technical advice and support to the Retail Mass staff on all legal matters pertaining to the business, TCF, policy provisions as well as general advice relating to products, operational practices and scenarios related thereto.
- Draft and amend contracts, policy documents and other legal documents (Intermediary Agreements, Binder Agreements, Administration Agreements, Service Level Agreements, Reinsurance Agreements, Lease Agreements, Management Outsource Business Contracts etc.)
- Analyze legislation, industry codes etc. and provide guidance to the business regarding the impact on the business and assist with the implementation thereof.
- Identify and communicate current and anticipated legal topics.
- Sign off on all client facing documents (advertisements, marketing campaigns, application forms etc.) to ensure compliance with legislation.
- Cultivate and manage working relationships with a variety of stakeholders within Retail Mass.
- Provide monthly and annual reports to the Legal Manager.
- Provide Legal training and development in terms of gaps identified in the business.
- Draft legal newsletters to educate internal staff as well as external stakeholders that do not have legal background on the regulatory dispensation.
- Keep in safe custody legal documents and ensure that the legal registers are up to date.
- Ensure that all legislative frameworks are up to date and reviewed annually.
- Identify instances where notifications should be submitted to the Financial Sector Conduct Authority and compile the notifications for submission: for example notifications relating to material changes to existing products, new products and terminations of group schemes.
- Provide services to SDM administered Retirement Annuity funds, in relation to updating of policies, drafting of contracts, research and communication to board of trustees
- Participate in various Fund Committees and provide legal advice in such Committees
- Draft new fund rules, in compliance with relevant legislation, responding to needs identified
- Advising on administration of funds and fund governance
- Have an in-depth understanding of Applicable legislation (Financial Advisory and Intermediary Services Act, Long Term Insurance Act, Long-term Insurance Act Regulations, PPR, Retail Distribution Review, Insurance Act, Financial Section Regulation Act, Protection of Personal Information Act, POPIA, Financial Intelligence Centre Act, Pension Funds Act).
- Attend to ad hoc tasks (including but not limited to: attending workshops, assisting with complaints if needed etc.).
Qualification & Experience
- LLB or equivalent legal Degree with extensive drafting and/or legal advisory experience
- Admitted Attorney
- Min 5 years experience in Life Insurance space or group life insurance (Group Risk and/or Funeral products)
- Min 3 years experience relating to retirement annuities/pension funds
- Min 5 years experience in the Financial Services Industry
- Contract drafting, litigation & arbitration process knowledge
- Have an in-depth understanding of the following legislation: - Financial Advisory and Intermediary Services Act, Long Term Insurance Act, Long-term Insurance Act Regulations, PPR, Financial Section Regulation Act and Protection of Personal Information Act,
- Proficiency in MS Office is essential
- Well-developed communication skills both written and verbal
- Communication (verbal and written)
- Planning and organizing
- Problem solving
- Analytical thinking
- Decision making
- Initiative
- Confident and decisive
- Results driven
- Adhering to principles and values
- Quality and detail orientated
- Pro-activity
- Achieving personal work goals and objectives
- Teamwork
- Coping with pressures and setbacks
Were all about building strong, lasting relationships with our employees. We know that you have hopes for your future your career, your personal development and of achieving great things. We pride ourselves in helping our employees to realise their worth. Through its four business clusters Sanlam Life and Savings, Sanlam Investment Group, Sanlam Emerging Markets, Santam, as well as MiWay and the Group Office the group provides many opportunities for growth and development.
Core Competencies
Being resilient - Contributing through others
Collaborates - Contributing through others
Drives results - Contributing through others
Cultivates innovation - Contributing through others
Customer focus - Contributing through others
Turnaround time
The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers.
Our commitment to transformation
The Sanlam Group is committed to achieving transformation and embraces diversity. This commitment is what drives us to achieve a diverse, inclusive and equitable workplace as we believe that these are key components to ensuring a thriving and sustainable business in South Africa. The Group's Employment Equity plan and targets will be considered as part of the selection process.
