Advisory Compliance Officer VP

Sandtonmid

Legal & ComplianceCompliance Specialist

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Quick Summary

Overview

Empowering Africa’s tomorrow, together…one story at a time. With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise,

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Legal & ComplianceCompliance Specialist

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

This role is responsible for providing compliance advisory and support to the life insurance businesses within AFS as well as the oversight of distribution channels which provide financial services in relation to life insurance.

The role is further responsible for oversight of regulatory and compliance developments and relations for the AFS Insurance Group and to support the Group’s understanding and adherence to relevant financial sector regulations, laws, and industry guidelines.

Performance Objectives:

Stakeholder Management

The role requires close interaction with senior managers within Absa Life and associated AFS businesses, AFS Group Compliance, AFS Regulatory Relations, and Group Secretariat.
Engagement and preparation of regulatory communications, notifications and applications to the various regulators.

Compliance Advisory and Support

Provision of proactive, real-time guidance and advice on aspects of compliance and conduct risk, business transactions and other wider organisational decisions which impact the life insurance business within AFS.

CRMP’s and control environment

Assisting the insurance cluster to formulate, update and implement control procedures and policies that will ensure adequate risk management.
Enabling business to adequately monitor instances of non-compliance with the company’s policies and procedures.
Establishing a compliance culture and creating an awareness of compliance and conduct risk through interaction with business on industry-related initiatives and establish networks with key role players.

Regulatory Horizon Scanning and Advice

Support the life insurance business through:
Horizon scanning to identify and interpret emerging regulatory requirements for business.
Evaluation of the impact of regulatory changes and support the implementation of necessary updates with impacted business areas.
Managing and maintaining the AFS regulatory universe.
Providing commentary on draft regulatory requirements for submission by the business to Absa Group Limited (AGL), relevant industry bodies and/or regulatory authorities.
Identification, monitoring and escalation of any or potential material risk to business with a regulatory impact.

Forum Participation and Reporting

Active engagement in internal compliance forums and committees, including Group Compliance Committees.
Provision of relevant and accurate information for inclusion in various stakeholder reports, such as internal and board committees as well as regulators.
Analyzing data and reporting on regulatory relations metrics, as well as overseeing the management of regulatory commitments.
Development of Board compliance training programmes.

Requirements

~1 min read

BCom (or similar)/LLB (or similar) or relevant insurance related qualifications.
Certificate or Diploma in Compliance Management (advantageous).
Minimum of 5 years proven experience within the financial services industry.

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised