Compliance and Risk Consultant | Cape Town

Are you an experienced compliance and risk professional with a legal background, ready to ensure full regulatory adherence and drive risk mitigation strategies for a specialist life insurer?

A premier Life Insurance Firm is seeking a dedicated Compliance and Risk Consultant to join their team. This pivotal role reports to both the Head of Risks and the Head of Compliance, placing you at the forefront of both regulatory monitoring and enterprise risk assessment.

If you have 3–5 years of financial services experience and an LLB degree, this is your opportunity to leverage your expertise in a role with high strategic visibility, ensuring the business operates efficiently and ethically.

Responsibilities:

Compliance & Legal Oversight:

• Regulatory Monitoring: Responsible for Compliance Monitoring across key legislation including FAIS, PPRS, POPIA, FICA, LTIA, and the Insurance Act.
• Legislative Strategy: Ensure the firm stays informed of the latest legislative developments , update policies and procedures in line with legislation , and provide legal advice and opinions to management.
• Advisory & Review: Review internal contracts , assist with regulatory reviews and inspections , and advise management on compliance issues related to new business, claims, products, and marketing.

Operational Risk Management:

• Risk Mitigation: Review and assess inherent risks within new processes and systems, and review existing processes to identify risk exposures, recommending appropriate mitigation measures.
• CRMPs & Planning: Develop Compliance Risk Management Plans (CRMPs) and participate in the preparation of plans and strategies for the effective assessment and management of risks.
• Incident Management: Record and analyse all incidents of risk reported from operational areas, recommending appropriate control measures.
• Technical Support: Provide technical support to the underwriting, claims, and reinsurance departments in the assessment and management of risks.

Third-Party Oversight:

• Oversight: Maintain a strong compliance focus on the firm''s clients by ensuring sufficient oversight in relation to Binder holders, JR''s, and outsourced partners.
• Monitoring: Oversee and monitor compliance with broker and binder agreements.

Experience:

• 3–5 years'' experience within the financial services industry.
• Experience in risk management, audit, or underwriting.
• Ability to work under minimum supervision.

Qualification:

• Bachelor''s degree LLB.
• Possession of relevant Risk Management Certification.