Compliance Officer- Governance Framework

Compliance Officer - Governance Framework

Business Unit: Discovery Central Services Function: Compliance Date: 3 Sep 2024

Discovery Group Compliance

Centre of Excellence About Discovery Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society. Purpose of the Role The purpose of this role is to provide sound advice to FSPs in terms of legislation, to implement and maintain the FSP Governance Framework, be responsible for drafting and completion of all FSP reporting obligations, manage and facilitate all FAIS-related regulatory engagements and submissions, attend to all legal obligations for FSPs, and ensure that the FSPs follow best practices and the compliance methodology. Areas of Responsibility

• Provide advisory notes to business on regulatory compliance matters, engage stakeholders on resolution of compliance matters and interpretation of legislation, and draft and review compliance guidance notes.
• Develop and review company policies, frameworks and processes in line with compliance best practice protocols and ensure that they are appropriate for the business and obtain sign-off.
• Ensure all licensing requirements for FSPs are completed, engage stakeholders and provide guidance and support to ensure licensing requirements are timeously met, monitor compliance with license conditions and restrictions, and facilitate submissions to the regulator.
• Facilitate the drafting of legal opinions and sign-off, vetting of contracts, including consulting with legal firms as and when required.
• Draft, review and obtain sign-off of responses for submission to the regulator and attend to the drafting of exemption applications to regulatory bodies.
• Design, review and sign-off compliance documents as required.
• Keep abreast of regulatory developments and changes in the financial services industry, with particular focus on FAIS and all subordinated legislation, and update and maintain the regulatory universe for the business.
• Analyse regulatory changes and facilitate requests for comments on new and amended legislation.
• Communicate regulatory requirements to stakeholders; provide guidance and support on new and amended legislation.
• Complete impact assessments and conduct workshops on new and amended legislation; track implementation thereof.
• Facilitate all regulatory engagements and provide support to engage with the regulatory and/or industry bodies on complex compliance queries, non-compliance issues, and fines and penalties.
• Facilitate meeting interactions with relevant business stakeholders and the regulatory and/or industry bodies; ensure that questionnaires and surveys are timeously completed by the FSPs.
• Draft and compile submissions to the regulator such as annual financial statements, payment of annual levies, etc., and ensure timeous submission to the regulator.
• Responsible for drafting and review of all FSP reports to various committees, regulator and/or industry bodies, and obtain sign-off.
• Provide comprehensive reports and feedback to senior management and committees.
• Provide support on projects such as new business initiatives and third-party interactions as required.

Skills and Personal Attributes

• Detailed knowledge of local (South African) legislation relating to financial services and able to interpret and apply legislation, including FAIS, POPIA, and Insurance Act.
• Sound understanding of compliance methodology.
• Problem-solving skills and conflict-management in a constructive and professional manner.
• Ability to make rational judgements from available information and analysis and provide considered and consistent advice.
• Strong communication, reporting and presentation skills.
• Ability to work as a team, understand the impact of decisions, and be confident enough to raise concerns within the team and to senior management.
• Strong research ability and attention to detail.
• Technical expertise in the operation and governance requirements of FSPs.
• Ability to develop an effective network with business representatives and build necessary trust relationships.
• Ability to write and review compliance policies and draft compliance guidance notes and reports with detail required to inform the business of regulatory requirements and potential impacts.
• Able to work well under pressure.
• Efficient time management skills, including quick turnaround time on quality work.

Education and Experience

• 3 years of working experience in a financial services compliance role in the application of FAIS within the FSPs.
• Relevant tertiary education.
• Recognised compliance qualification from an accredited institution.
• Membership of Compliance Institute of South Africa or Financial Planning Institute would be advantageous.

Role Specific Behaviours

• Action Oriented
• Ensures accountability
• Drives Results

EMPLOYMENT EQUITY The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply. #J-18808-Ljbffr