Join our Short-term Insurance Centre of Excellence

   

We are looking for motivated and enthusiastic individuals to join the MMI Short-term Insurance Centre of Excellence. Below are two positions currently available in this dynamic team.

 

MMI Holdings Limited (MMI) is a South African based financial services group listed on the South African stock exchange, the JSE.  The group operates in the market through multiple client-facing brands including insurance and investment brands Metropolitan and Momentum, South Africa’s number one cell captive insurer Guardrisk and wellness & rewards programme Multiply. MMI operates in 14 countries, 12 in the African continent, United Kingdom and India through a direct presence, strategic partnerships and joint ventures.

MMI’s purpose is to enhance the lifetime Financial Wellness of people, their communities and their businesses. Financial Wellness is a continuous process of planning and management for individuals, households and businesses, with the aim of affording expenses and achieving goals over one’s lifetime. Our promise to our clients is to be their Financial Wellness partner over this life-long journey, using our expertise and solutions to help them develop and reach their goals. Visit us at www.mmiholdings.co.za

 nce Manager (#23097) at Short-term Insurance CoE

Role Purpose

The Compliance Manager will be responsible to oversee the implementation and monitoring the compliance strategy to assist the Momentum Short Term Insurance business in honouring their responsibility to comply with applicable regulatory requirements through directing the compliance function to provide compliance services and identify, assess, manage, monitor and report regulatory compliance risks facing the organisation. The position shall further provide assurance that company policies and procedures are being complied with and that the organisation meets the company's own standards.

   

Responsibilities and work outputs

 

  • Manage and execute the process to identify, assess, manage, monitor and report on compliance risks that the company faces.

  • Overseeing and directing the end – to end compliance process from identification through to monitoring and reporting.

  • Provision of input and direction into the design and approval of new products.

  • Developing compliance documentation, including risk management plans and monitoring frameworks.

  • Create opportunity for business within restrictive regulatory environment.

  • Reviewing and providing advice on the inclusion of regulatory requirements in policies and procedures.

  • Overseeing and directing compliance training on regulatory specific related matters.

  • Provide professional advice and guidance to the business regarding compliance matters.

  • Understand the concept of Combined Assurance and actively participate to continuously achieve this in the organisation.

  • Regular interaction with operational departments to stay informed of business developments and important information which may be required to understand and identify compliance risks and to build credibility and trust.

  • Continuously staying abreast with changes in laws, regulations, proposals from the regulators and assist with providing and driving the implementation of appropriate interventions.

  • Overseeing the execution of compliance activities based on the compliance monitoring plan.

  • Ensure that compliance support is aligned to business strategy.

  • Overseeing the execution of the regulatory compliance breach management and follow-up process in order to address the identification, analysis and resolution process to be followed as well as the escalation procedures.

  • Contribute and oversee the initiation of critical statutory projects and monitor the appropriate implementation thereof.

  • Deliver compliance reports that highlight compliance activities and instances of non-compliance, both internal and external within the agreed timeframes.

  • Support the business by evaluating and prioritising risk-based compliance assurance activities.

  • Build relationships with internal and external stakeholders as well as the wider compliance community within the MMI Group.

  • Keep abreast of trends, legislation and best practices within the compliance field in order to optimise service offering and advise the Executive Committee accordingly.

  • Build strong relationships through providing specialist know-how and leadership to others, expressing positive expectations.

  • Ability to project manage compliance deliverables in conjunction with stakeholders.

  • The ability to interact at a senior management and business stakeholder level is essential.

  • Managing relationships with the various regulatory authorities and industry bodies.

  • Continuously develop own expertise in terms of the industry and subject matter development and application thereof in an area of specialisation.

  • Positively influence and manage change and offer specialist support where required.

  • Participate and contribute to a culture of compliance.

  • Supervise and oversee the Ombudsman Liaison function.

 

Competencies required

 

  • Excellent organisational and administrative skills

  • Accountable

  • Attention to detail

  • Negotiation skills

  • Takes Ownership and Responsibility

  • Strong People skills

  • Ability to work independently in a team environment

  • Excellent communication skills (verbal and written)

  • Analytical thinker with investigative instinct

  • Self-disciplined and self-motivated

  • Problem solving ability

  • Stress tolerance

  • Tenacity and resilience

  • Professional approach

  • Assertive and tactful with the ability to handle conflict

  • Business Acumen

  • Persuading

  • Stakeholder commitment

  • Results driven

  • Lead change and innovation

  • Collaboration

  • Impact and influence

     

 

Experience and Qualifications

 

  • Minimum of a Degree in Finance, Legal or Business recognised by the Financial Services Board.

  • Phase I Approved - Category I FAIS Licensed Compliance Officer essential.

  • Successfully passed the Key Individual Regulatory Examination as required by the Financial Services Board for Licensed Compliance Officers.

  • Post Graduate Diploma in Compliance Management would be advantageous.

 

Experience:

 

  • At least 4 years' experience as a compliance officer.

  • At least 4 years' experience in the financial services industry relevant to Short Term Insurance.

  • At least 2 years' leadership experience.

 

Experience that will be advantageous:

 

  • Short Term Insurance Industry knowledge and understanding. Admitted attorney.

   

Additional Information

 

  • Knowledge of legislation pertaining to the Short Term Insurance industry;

  • Good understanding of Short Term Insurance industry, products and recent developments in this arena;

  • Excellent understanding of financial products;

  • Excellent understanding of STIA, FAIS, FICA, POPI, TCF, SAM, CPA, FSLGAB, Companies Act, et alia;

  • Compliance process methodology knowledge essential;

  • Knowledge of MSTI products would be an advantage.

  • Preference will be given to candidates in the designated groups.

  • All positions will be filled in accordance with our Employment Equity plan.

  • We also encourage people with disabilities to apply.

   

Interested incumbents are invited to submit their application to Ferina Pema at ferina.pema@mmiholdings.co.za

Should you require any further information, please do not hesitate to contact Ferina Pema on 012 675 3752 / +27 (0) 82 924 2740

 

  

Closing Date

30 September 2017