Description:
Our client a Short Term Insurance Broker is recruiting for a Compliance Trainee to assist the Compliance Officer with all external regulatory requirements, as well as with all internal policies.
Ensuring operations within the business are conducted in a legal and ethical manner, while still meeting the business objectives.
Minimum Requirements
· Matric, Degree at NQF level 6 or Higher
· Knowledge of FAIS, BEE, FICA, SHORT TERM INSURANCE ACT and Compliance Institute if Southern Africa compliance training/courses and other relevant legislation, regulations and rules that may be needed from time to time.
· RE 1 if not already in place. Report writing and business activity monitoring.
· Minimum 3 years relevant work experience in short term insurance/ financial services, Compliance or Legal work.
Responsibilities:
· Develop, initiate, maintain, and revise policies and procedures:
o Periodically review and update SOP to ensure continuing currency and relevance
o Provide objective view of company policies and procedures in relation to current regulatory requirements
o Maintain compliance procedures and manual
o Work together with department heads to create internal controls and monitor adherence to them
o Ensure operations fully comply with regulations and procedures
o Ensure all policies are updated/amended where applicable
o Maintain and manage Transformation status requirements with HR and associated compliance
· Proactively audit processes, practices and documents:
o Verify the practical application as per the SOP
o Manage risk and identify areas of improvement
o Identify potential compliances breaches and investigate compliance irregularities
o Set plans to manage a compliance violation
o Evaluate, investigate, and document reports of non-compliant activity
o Manage insurer matrix
o Keep record of all insurer agreements (on sharepoint)
o Manage internal audit feedback with underwriting head and associated compliance
o Manage and conduct business monitoring review with associated compliance from findings of internal audit
o Review insurer agreements prior to sign-off from directors
o Manage and maintain legal and compliance folder on sharepoint
· Educate and train employees on regulations and industry practices:
o Address employee concerns or questions on legal compliance
o Communicate key regulatory changes and updates
o Promote compliance awareness
o Arrange training – keep tracker of all training done internally and with external service providers
· Reporting – ensure timeous and accurate monthly report submissions
o Reporting on compliance audit, providing feedback on issues and activities
o Maintain Key Individual / representative register
o Reporting on any complaints received, reviewed, registered and resolved
o Report on any non-compliant activities identified to management
o Ensure compliance records are up to date
o Keep up to date with the regulator submission dates (submission of AFS – annual financial statements) and assist with the submission with finance manager
o Keep finance manager update to date with any financial/compliance related matters.
· Review and resolve Fit and Proper queries:
o Manage staff under supervision
o Assist HR with recruitment on the FAIS related matters
Requirements:
- Short Term Insurance: 1 to 2 years
- Complaince: 2 to 3 years