Job Description
About the Role
Our client, a prominent and highly respected insurance brokerage division based in Durban, is seeking an experienced Legal, Risk & Compliance Officer to oversee their compliance framework and manage risk effectively across both long-term and short-term insurance categories.
Key Responsibilities
- Monitor regulatory developments
- Communicate updates to the business
- Assist in implementing new requirements
- Ensure all employees and the company remain compliant with the Financial Advisory and Intermediary Services (FAIS) Act, the Financial Intelligence Centre (FIC) Act, and all other applicable legislation
- Communicate with insurers regarding any regulatory or legal queries
- Facilitate responses to external insurer audits
- Ensure all company financial lines insurances and licenses are renewed timeously
- Further develop, enhance, and implement the internal compliance framework and business processes
- Identify operational/business risks and prepare comprehensive risk management reports
- Amend and update all compliance documentation, including policy schedules and disclosure notices
- Attend to necessary compliance checks in respect of policy renewals
- Oversee and manage FICA and FAIS reporting and monitoring
- Prepare internal compliance monitoring reports and calculate monthly compliance scores
- Review internal claims and underwriting correspondence to ensure alignment with legislative requirements
- Liaise directly with the FSCA and other regulatory bodies as necessary
- Draft, review, and negotiate business contracts, insurance contracts, and company policies
Requirements
- RE1 and RE5 Qualifications are mandatory
- An LLB degree will be highly advantageous
- 5 years of proven experience in compliance and risk management within the insurance industry (covering both long-term and short-term insurance categories)
- Practical experience in legal research and litigation processes
Qualifications
- No qualifications mentioned in original job description.
How to Apply
Click the green “Go Apply” button below to apply directly online with the employer.
About Accounting / Finance Jobs in eThekwini
The accounting and finance industry is a vital component of eThekwini’s economy, providing essential services to businesses, governments, and individuals. Generally, job seekers in this field can expect a stable and secure career with opportunities for growth and development. Typically, roles in accounting and finance are found across various industries, including financial services sector, technology industry, manufacturing sector, and public sector.
Salaries for accounting and finance professionals in eThekwini vary widely depending on factors such as experience, company size, and industry sector. Common salary ranges for entry-level positions typically start between R200 000 to R300 000 per annum, while senior roles can range from R500 000 to R800 000 or more. However, these figures are general estimates and actual salaries may vary significantly. It is essential to research the specific job market and industry trends to determine realistic salary expectations.
Common skills required for accounting and finance roles in eThekwini include proficiency in financial software, such as SAP or Oracle; strong analytical and problem-solving skills; excellent communication and interpersonal skills; experience with budgeting, forecasting, and financial analysis tools; a solid understanding of tax laws and regulations; and a degree in accounting or finance. Additionally, many employers require candidates to hold relevant professional certifications, such as the Chartered Accountant (SA) designation.
Accounting and finance professionals can be found across various industries, including financial services sector, technology industry, manufacturing sector, and public sector. The financial services sector is often a major employer of accounting and finance professionals in eThekwini, while the technology industry also provides many opportunities for growth and development. Other industries, such as manufacturing and construction, also require skilled accounting and finance professionals to manage their finances effectively.
Career development opportunities are abundant in the accounting and finance field, with many employers offering training and development programs to help employees advance in their careers. Typically, experienced accountants can move into senior roles or take on leadership positions within their companies. With experience and additional certifications, accountants can transition into management roles, such as financial controller or accountant manager, or pursue career paths in finance consulting or public practice.
This information provides general career guidance. Actual salaries and requirements vary by employer.
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