Key Purpose
To effectively and proactively assist Discovery Invest First Line Compliance in managing its responsibility to comply with all Regulatory requirements and minimize the compliance risks identified in business by implementing compliance risk management processes that includes identification, assessment, management, monitoring and reporting of compliance risks that are faced by the business.
In addition to the above, the role also requires engagement with 2nd Line Compliance functions as well as internal operations stakeholders.
Areas of responsibilities
To assist and support the Head:First Line Compliance & Business Improvement) in fulfilling his mandate which includes but is not limited to:
Implementation of the Group Compliance Framework as relevant to the applicable Business Unit and advising on processes and suitable control frameworks to implement strategic regulatory obligations
Provision of strategic guidance and support to the Business Units on the implementation of new and changed regulatory obligations and with the aim of ensuring that business objectives (strategic and operational) are aligned to the regulatory framework and exposure profile of the business
Managing the Regulatory Profile and engaging with the Executive Management team on any incidents and exposures relating to its regulatory obligations
Development and oversight of reports as well as setting reporting standards to provide accurate pertinent compliance reports
Project management in support of compliance requirements, implementation of systems, procedures, policies and training requirements
Compliance monitoring of the applicable business unit compliance functions and assurance across the business units
Assist management with identification and evaluation of compliance exposures and regulatory breaches
Engagements with Regulators and with other interest groups in the industry.
Implementation of the Fraud Control Management System (FCMS)
Education, Knowledge and Experience
Relevant tertiary qualification (preferably in the legal or commerce field).
The person must have a clear and in-depth understanding of the Collective Investment Schemes Act, the FAIS Act (especially Cat I, II and III) and the Long-Term Insurance Act as it relates to the underwritten investments policies.
At least 5 years of compliance-related experience.
Experience in drafting Compliance Risk Management Plans and conducting Compliance monitoring
At least 3 years of experience in a First Line Compliance role
Competencies
Adaptable
Excellent communication skills
Resilient
Team Player