INSURANCE: COMPLIANCE OFFICER

SUMMARY:
This role is pivotal in developing, implementing, and managing compliance programs.

POSITION INFO:

Compliance Officer position available in Johannesburg.

Key Responsibilities:

• Regulatory Monitoring: Continuously monitor and interpret current and evolving insurance regulations, statutory requirements, and industry standards at the local, national, and international levels.
• Policy Development and Implementation: Develop, update, and implement company compliance policies, ensuring they reflect changes in legislation and regulatory expectations.
• Training and Education: Design and deliver compliance training programs to educate employees on regulatory requirements, company policies, reporting obligations, and ethical considerations.
• Risk Assessment: Conduct regular risk assessments and compliance audits to identify potential areas of vulnerability, recommend corrective actions, and ensure timely remediation of identified issues.
• Reporting: Prepare and submit comprehensive compliance reports to senior management and regulatory authorities, highlighting key findings, risks, and mitigation strategies.
• Advisory Support: Serve as the primary point of contact for compliance-related inquiries, offering expert advice to business units and executive leadership regarding regulatory obligations and industry best practices.
• Incident Management: Investigate suspected or confirmed violations of compliance policies, coordinate with legal counsel as needed, and facilitate effective resolution of compliance incidents.
• Licensing and Filing: Oversee regulatory filings, licensing renewals, and other compliance documentation to ensure timely and accurate submissions to governing bodies.
• Collaboration: Work closely with internal stakeholders—including underwriting, claims, sales, IT, and finance teams—to integrate compliance into business processes and strategic decisions.
• Continuous Improvement: Identify and implement opportunities to streamline compliance processes, leverage new technologies, and enhance the organization’s compliance program.
• Comprehensive Regulatory Knowledge: In-depth understanding of insurance laws, regulations (such as Solvency II, GDPR, FICA, POPIA), and industry practices.
• Analytical Acumen: Strong ability to analyze legal documents, interpret regulatory changes, and assess their impact on business operations.
• Communication Skills: Excellent written and verbal communication skills to clearly convey complex regulatory information to diverse audiences.
• Attention to Detail: High level of accuracy in reviewing documentation, conducting audits, and preparing reports.
• Ethical Judgement: Commitment to maintaining the highest ethical standards and promoting a culture of integrity.
• Problem-Solving: Proactive approach to identifying issues, investigating root causes, and recommending practical solutions.
• Project Management: Ability to manage multiple projects simultaneously, prioritize tasks, and meet tight deadlines.
• Collaboration: Experience working effectively with cross-functional teams and external stakeholders.
• Technological Proficiency: Familiarity with compliance software, data analytics tools, and Microsoft Office Suite.
• Adaptability: Capacity to thrive in a dynamic regulatory environment and adapt to organizational change.
• Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
• Professional certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Insurance Compliance Professional (CICP), or equivalent (preferred)
• Minimum of 3-5 years’ experience in regulatory compliance or legal roles within the insurance industry (required)
• Demonstrated experience in policy development, regulatory reporting, and compliance audits
• Familiarity with local and international insurance regulations and reporting requirements

Qualifications and Experience:

• Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
• Professional certifications (preferred)
• Minimum of 3-5 years’ experience in regulatory compliance or legal roles within the insurance industry (required)
• Demonstrated experience in policy development, regulatory reporting, and compliance audits