Head: Insurance Compliance
Capitec Bank · Stellenbosch, Western Cape
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- To be responsible for and promote an adequate level of compliance in Capitec's Insurance business so that Capitec meets and complies with regulatory and statutory requirements.
- Accountable for the strategic direction and operational effectiveness of the Compliance department within Capitec's Insurance business.
- To lead and manage the Compliance function, accountable for optimising performance through business planning, budgets, goals and metrics, people, standards, principles and processes.
Experience Minimum:
- Complying with the fit and proper standards contained in the Generally Accepted Compliance Practice GACP
- 8-10 years' proven experience in all matters related to legislative and regulatory requirements, in compliance management in the financial services industry, with exposure to insurance in at least 5 of the years
Ideal
- More than 10 years' experience leading all matters related to legislative and regulatory requirements within a similar industry
- 7 years' proven experience in compliance / risk management in the financial services/insurance industry
- 7 years' experience in managing a team of specialists within a similar environment
- Proven experience in operating at a senior management level
Qualifications Minimum
- Bachelor's Degree in Law or Accounting - Financial Accounting
Qualifications Ideal or Preferred
- Masters Degree in Law or Accounting - Financial Accounting
Key Performance Areas Strategic Complaince Management
- Develop and execute the compliance strategy
- Implement the annual compliance coverage plan.
- Drive compliance risk management and controls.
- Monitor regulatory developments and best practice.
Management of the Compliance Department
- Manage and be responsible for the overall performance of the department
- Monitor and manage the department's budget on an on-going basis.
- Facilitate the process of compliance to ensure that management develops and implements controls which are monitored on a continuous basis.
- Identify, assess and report on issues of compliance risk and risk acceptance by the business.
- Ensure the operational effectiveness of the department
Management of the Compliance Framework
- Design and maintain a Compliance Management Framework.
- Design, implement and maintain the First Line of Defence Monitoring FLOD Framework.
- Identify, assess and mitigate compliance risks.
- Drive compliance awareness and training.
Reporting
- Report on compliance risks and trends.
- Prepare Board, Executive and Committee reports.
- Submit regulatory and statutory reports.
- Engage with regulators and key stakeholders.
Knowledge Minimum:
- Insurance industry
- Compliance risk management including compliance risk identification, compliance risk assessment and compliance risk monitoring
- Process and controls development
- Laws and regulations applicable to the insurance/financial services environment
- Business acumen and an understanding of business drivers
- Legal / statutory interpretation
Ideal
- Insurance industry
- Capitec risk management environment
- Financial, insurance and insurance legislation
Skills
- Analytical Skills
- Communications Skills
- Computer Literacy MS Word, MS Excel, MS Outlook
- Interpersonal & Relationship management Skills
- Problem solving skills