Reference Number: RSB
A leading Financial services group is seeking a Compliance manager to join their team to consult on and advise the Insurance business area regarding relevant domestic and international legislation; compliance and governance to ensure abidance to relevant codes; regulations and rules thereby minimizing risk to and protecting the reputation of business and group.
Requirements: Qualification and Skill
- Advise business on best practice for compliance by ensuring the business is educated on the compliance culture and by creating awareness around compliance implication of daily duties.
- Ensure compliance standards are met and risks are mitigated. Identify, define and agree on the regulatory universe applicable for each relevant Business Unit, mitigating risks.
- Conduct compliance risk and control assessments (CRA's).
- Test whether the business control is effective and adequate and ensure that business policies contain the right content addressing legislative requirements.
- Engage with stakeholders on findings of compliance risk and control assessments.
- Ensure that compliance risk is adequately addressed.
- Mitigate risk and applicability to business.
- Advise business of changes and identify potential impact of these changes on the business.
- Contribute to a culture of transformation by participating in company culture building initiatives, business strategy, and CSI.
- Stay abreast of developments in field of expertise, ensuring personal and professional growth.
- Understand and embrace the company vision and values, leading by example.
- Influence the enhancement of business processes and methodologies.
- Enable management to make informed decisions and prevent compliance breeches.
- Prevent compliance breaches and reputational risk from occurring, which could result in financial penalties.
- Address compliance risk.
- Ensure that stakeholder relationships are effectively managed.
- Promote and facilitate cross Cluster engagement, manage and improve business efficiencies.
- Ensure awareness of business compliance status.
- Ensure upskilling and effective handover to relevant responsible person.
- Obtain buy-in for developing new and/or enhanced processes that will improve the functioning of stakeholders' businesses.
- Manage performance through training, development and addressing poor performance via HR channels.
- Educate self-regarding business, through engagement, meetings, procedures and policy awareness.
- Support the central function by assisting in developing of policies, procedures, frameworks and tools with specific focus on relevant risk legislation, for the benefit of the larger organization.
- Define governance frameworks and ensure good governance practice.
- Assess committee’s adherence to the governance requirements.
- Ensure business committees operate according to required business governance standards through regular engagement.
- Undergraduate degree in a relevant field (Risk Management, Compliance, etc.)
- 5-8 years in a senior compliance/risk/governance within Insurance environment. (non-negotiable)
- CISA certification preferred
- Experience analyzing and interpreting quantitative and qualitative data
- Relevant regulatory knowledge & strong interpretation of legislation skills
- Understanding of Risk management process and frameworks
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