Johannesburg: INSURANCE: COMPLIANCE OFFICER

About the Role

The Compliance Officer position is a critical role that ensures our organization remains compliant with all relevant regulations and laws. As a key member of our team, you will be responsible for monitoring regulatory changes, developing compliance policies, and providing expert advice to business units and executive leadership.

Key Responsibilities

• Regulatory Monitoring: Continuously monitor and interpret current and evolving insurance regulations, statutory requirements, and industry standards at the local, national, and international levels.
• Policy Development and Implementation: Develop, update, and implement company compliance policies, ensuring they reflect changes in legislation and regulatory expectations.
• Training and Education: Design and deliver compliance training programs to educate employees on regulatory requirements, company policies, reporting obligations, and ethical considerations.
• Risk Assessment: Conduct regular risk assessments and compliance audits to identify potential areas of vulnerability, recommend corrective actions, and ensure timely remediation of identified issues.
• Reporting: Prepare and submit comprehensive compliance reports to senior management and regulatory authorities, highlighting key findings, risks, and mitigation strategies.
• Advisory Support: Serve as the primary point of contact for compliance-related inquiries, offering expert advice to business units and executive leadership regarding regulatory obligations and industry best practices.
• Incident Management: Investigate suspected or confirmed violations of compliance policies, coordinate with legal counsel as needed, and facilitate effective resolution of compliance incidents.
• Licensing and Filing: Oversee regulatory filings, licensing renewals, and other compliance documentation to ensure timely and accurate submissions to governing bodies.
• Collaboration: Work closely with internal stakeholders including underwriting, claims, sales, IT, and finance teamsto integrate compliance into business processes and strategic decisions.

Requirements

• Comprehensive Regulatory Knowledge: In-depth understanding of insurance laws, regulations (such as Solvency II, GDPR, FICA, POPIA), and industry practices.
• Analytical Acumen: Strong ability to analyze legal documents, interpret regulatory changes, and assess their impact on business operations.
• Communication Skills: Excellent written and verbal communication skills to clearly convey complex regulatory information to diverse audiences.

Qualifications

• Bachelor’s degree in Law, Business Administration, Finance, Risk Management, Insurance, or a related field (required)
• Professional certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Insurance Compliance Professional (CICP), or equivalent (preferred)

Salary & Benefits

(No salary information is available)