COMPLIANCE TRAINEE

SUMMARY:
An insurance company based in Rivonia/Sandton is currently seeking a Compliance Trainee to ensure compliance 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

POSITION INFO:
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.
COMPETENCIES REQUIRED TO PERFORM OUTPUTS:

• Results oriented
• Commitment
• Customer Driven
• Continuous Learning
• Assertiveness
• Honesty, Integrity & Ethical Behaviour
• Flexible & Adaptable to change
• Strategic thinking (proactive / ability to use initiative / innovation)
• Ability to function independently and under pressure
• Team player
• Goal oriented
• Excellent Communication skills
• High attention to detail

• Develop, initiate, maintain, and revise policies and procedures:
• periodically review and update SOP to ensure continuing currency and relevance
• Provide objective view of company policies and procedures in relation to current regulatory requirements
• Maintain compliance procedures and manual
• Work together with department heads to create internal controls and monitor adherence to them
• Ensure operations fully comply with regulations and procedures
• Ensure all policies are updated/amended where applicable
• Maintain and manage Transformation status requirements with HR and associated compliance

• Proactively audit processes, practices and documents:
• Verify the practical application as per the SOP
• Manage risk and identify areas of improvement
• Identify potential compliances breaches and investigate compliance irregularities
• Set plans to manage a compliance violation
• Evaluate, investigate, and document reports of non-compliant activity
• Manage insurer matrix
• Keep record of all insurer agreements (on sharepoint)
• Manage internal audit feedback with underwriting head and associated compliance
• Manage and conduct business monitoring review with associated compliance from findings of internal audit
• Review insurer agreements prior to sign-off from directors
• Manage and maintain legal and compliance folder on sharepoint

• Educate and train employees on regulations and industry practices:
• Address employee concerns or questions on legal compliance
• Communicate key regulatory changes and updates
• Promote compliance awareness
• Arrange training – keep tracker of all training done internally and with external service providers

• Reporting – ensure timeous and accurate monthly report submissions
• Reporting on compliance audit, providing feedback on issues and activities
• Maintain Key Individual / representative register
• Reporting on any complaints received, reviewed, registered and resolved
• Report on any non-compliant activities identified to management
• Ensure compliance records are up to date
• Keep up to date with the regulator submission dates (submission of AFS – annual financial statements) and assist with the submission with finance manager
• Keep finance manager update to date with any financial/compliance related matters

• Review and resolve Fit and Proper queries
  • Manage staff under supervision
  • Assist HR with recruitment on the FAIS related matters

• Effectively and efficiently maintain filing system (electronic and other)
• Timely Responses to email and telephonic messages.
• Ensure that accurate record is kept of all new matters received in the dept.
• Maintaining professional behavior and work ethic
• Self-development of function – education and any relevant training
• Display personal accountability for own actions, quality of work and personal development
• Ensure that all deadlines are met and that SLA’s are adhered to
• Ensure all turnaround times and target dates are adhered to
• Ensure required response times to emails and telephonic messages are adhered to
• Ensure that all relevant Procedure Manuals (Standard Operating Procedures) are adhered to
• Be punctual, keeping to prescribed hours/ timekeeping
• Exhibit Core Values at all times (Professionalism, Integrity, Perseverance, Positive Attitude)
• Team player
• Perform adhoc duties as allocated from time to time
• Communication with industry regulators
• Stay abreast of regulatory and legislative changes/updates