Key Compliance Individual 25 000 - 35 000 - Ekurhuleni
InspHired Recruitment Solutions
Our client in the Financial Services industry is looking for a Key Compliance Individual to joint their department: • Act as the Key Individual (KI) in accordance with the Financial Advisory and Intermediary Services (FAIS) Act and ensure compliance with all regulatory requirements. • Provide guidance and oversight to representatives and staff members on regulatory compliance matters related to the Short-Term Insurance. • Develop, implement, and maintain compliance policies, procedures, and controls to mitigate regulatory risks and ensure adherence to relevant legislation. • Conduct regular reviews and assessments of the FSP's compliance framework and make recommendations for improvements as needed. • Serve as the primary point of contact for regulatory authorities and coordinate responses to inquiries, audits, and examinations. • Keep abreast of changes in regulatory requirements, industry trends, and best practices in the Short-Term Insurance and sector and communicate relevant updates to internal stakeholders. • Provide training and education to representatives and staff members on compliance-related topics, knowyour-customer (KYC) requirements. • Collaborate with other departments, such as legal, risk management, and operations, to ensure alignment of compliance efforts across the organization. • Participate in internal committees and working groups to address compliance-related issues and drive continuous improvement initiatives. • Represent the FSP at industry conferences, seminars, and other events to enhance the company's reputation and network with industry professionals. • Manage FAIS • Rep register (additions, removals and changes) • Supervise reps where necessary. • Rep CPD points • Manage the compliance audit process • Prepare and present compliance requirements. • Prepare and submit complaints and compliments registers. • Prepare and present compliance training regularly and monitor the adherence to compliance requirements • Grade 12 • A minimum of 3 years appropriate transport experience • Presentation and computer skills • Driver's license • Multilingual – Zulu, Sotho, English and Afrikaans • Strong working knowledge of commercial insurance particularly in the transport sector • Previous experience serving as a Key Individual or similar regulatory role within a FSP is highly desirable, candidates who have never worked in the Key Individual role may apply on condition that they have their minimum 120 FAIS credits, RE1 and RE5 experience, • Class of Business for Short- & Long-Term • Management and Supervision experience (in this case a reference letter will be required). • Strong understanding of regulatory requirements and compliance frameworks. • Excellent knowledge of relevant legislation and regulations, including the FAIS Act, FSCA regulations,. • Strong analytical skills with the ability to assess complex regulatory issues and develop practical solutions. Salary: R25 000 to R35 000 per month
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