Compliance Officer

The role is intended to grow into a standalone compliance capability over time, so we are particularly interested in candidates who have acted as an external / independent appointed Compliance Officer for multiple entities

Responsibilities:

• Own and drive the FAIS and FIC compliance strategy and framework for the business.
• Perform the functions of the appointed Compliance Officer, building toward Phase II approval to act as Compliance Officer for the Company.
• Act as, or oversee, the Money Laundering Reporting Officer (MLRO) function and all FIC obligations, including regulatory reporting under section 43B and related provisions.
• Develop, implement and maintain the Risk Management and Compliance Programme (RMCP) and compliance risk management/monitoring plans.
• Conduct risk-based compliance monitoring and audits across all business lines; produce monitoring reports.
• Identify, investigate and report compliance breaches; work with business owners on remediation and escalation.
• Own the FIC / AML / CFT programme: business risk assessment, customer due diligence and enhanced due diligence, sanctions/PEP screening, transaction monitoring, and CTR/STR reporting to the FIC.
• Maintain compliance records, registers, policies, procedures and manuals.
• Prepare and submit all statutory and regulatory compliance reports and returns (FSCA, Prudential Authority, FIC), including the Conduct of Business Return (CBR).
• Oversee FAIS Fit & Proper obligations for Key Individuals and Representatives, including Class of Business training and Continuing Professional Development (CPD).
• Manage all interactions, inspections and engagements with the regulators (FSCA, PA, FIC).
• Monitor, interpret and implement new and amended regulation and industry best practice; provide impact analyses, policy updates, business notifications and training.
• Report regularly to the Board and Audit & Risk Committee on compliance matters.
• Advise the business on compliance and conduct risks arising from the Company's use of artificial intelligence and other emerging technologies.
• Use AI-enabled compliance, regulatory-monitoring and GRC tools to improve the efficiency and accuracy of compliance monitoring, reporting and record-keeping

Requirements:

• Current FSCA Phase I approval as a Compliance Officer for Category I FSPs covering the relevant Long-term Insurance sub-categories (including sub-category 1.1 Long-term Insurance Category A / assistance business, and others applicable to the Company's licence). Qualification, regulatory exam, experience and fit-and-proper requirements met. (Essential, non-negotiable.) Phase II approval to act for the Company applied for on appointment.
• FAIS Regulatory Examination RE1 (Key Individuals / Compliance Officers). RE5 where the incumbent is also a representative.
• Recognised compliance qualification Postgraduate Diploma or Certificate in Compliance Management.
• Membership of the Compliance Institute of South Africa (CISA) required or preferred; CPrac(SA) / CProf designation, or working towards it, advantageous.
• An AML credential (e.g. CAMS or AML Prac(SA)) advantageous.
• At least 5 years' compliance experience within the financial services industry, ideally within long-term / life insurance.
• Experience acting as an external / independent appointed Compliance Officer for one or more third-party entities (essential or strongly preferred).
• Class of Business (Long-term Insurance) training and up-to-date CPD.
• A legal degree is not required the focus is regulatory compliance, not legal practice

Essential Knowledge - legislation:

• Financial Advisory and Intermediary Services Act (FAIS), Act 37 of 2002 and subordinate legislation (General Code of Conduct; Fit & Proper, BN 194 of 2017).
• Financial Intelligence Centre Act (FICA), Act 38 of 2001, as amended (including Act 1 of 2017).
• Long-term Insurance Act (LTIA), Act 52 of 1998 and regulations.
• Insurance Act 18 of 2017 and the Prudential Standards (GOI framework).
• Financial Sector Regulation Act (FSRA), Act 9 of 2017.
• Protection of Personal Information Act (POPIA).
• Policyholder Protection Rules (PPR) and Treating Customers Fairly (TCF) outcomes.
• Conduct of Financial Institutions (COFI) Bill (forthcoming).

Essential Behavioural Competencies:

• Control-focused mindset with a strong grasp of regulatory and reputational risk.
• Self-motivated, mature and hands-on, able to build a function and work independently to deadlines.
• Excellent communication and report-writing skills.
• Discreet and confidential, with the confidence to challenge and influence.
• Comfortable and effective working with AI tools and technology-enabled compliance/GRC platforms.
• Honesty and integrity meeting the personal character requirements determined by the Registrar under the Insurance Act

Please note only candidates that meet the minimum requirements will be considered.

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