Legal, Risk & Compliance Officer | Durban
Our client is a prominent and highly respected insurance brokerage division based in Durban. Committed to maintaining the highest standards of governance and regulatory excellence, they are seeking a diligent and experienced Legal, Risk & Compliance Officer to oversee their compliance framework and manage risk effectively across both long-term and short-term insurance categories.
Requirements:
Responsibilities:
Required Knowledge & Skills:
Application Instruction: Send your applications to info@recruitmentcouncil.co.za
Requirements:
- Qualifications: RE1 and RE5 Qualifications are mandatory. An LLB degree will be highly advantageous.
- Experience: 5+ years of proven experience in compliance and risk management within the insurance industry (covering both long-term and short-term insurance categories).
- Expertise: Practical experience in legal research and litigation processes.
Responsibilities:
- Monitor regulatory developments, communicate updates to the business, and 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, and 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.
Required Knowledge & Skills:
- Excellent analytical and problem-solving skills.
- Strong background in business policy drafting.
- Proven risk identification and mitigation strategies.
- Solid experience in contract drafting and negotiation.
- Deep understanding of corporate governance and compliance management.
Application Instruction: Send your applications to info@recruitmentcouncil.co.za
