Head of Legal Risk and Compliance

Full Time
  • Full Time
  • Midrand
  • Salary: R 1.5 mil per annum

Head of Legal, Risk and Compliance  – Job Description 

Responsibilities  

  • Responsible for all compliance, governance and risk management structures of all Funds administered by the  company 
  • Ensure proper implementation of legislative requirements across all Funds 
  • Create awareness of compliance and foster a culture of compliance within and across all Fund structure Monitor the liaison between the Funds and stakeholders in terms of compliance 
  • Monitor Funds compliance with relevant legislative or statutory requirements 
  • Funds and Boards risk management and reputational protection 
  • Check Section 14 applications are well within the scope as required by the FSB 
  • Liaise with Employers on Section 13A non-adherence 
  • Report to Boards on Section 13A non-compliance 
  • Draft and submit Fund adopted resolutions 
  • Draft and submit Fund rule amendments 
  • Draft and submit Special Rules 
  • Check death claims reports prepared internally before submission to Boards 
  • Manage and monitor complaints from members, FSB, PFA, Ombudsman, Legal representatives of members and ensure appropriate responses 
  • Compliance audit management on all Funds 
  • Assist in the delivery of uncompromising standards ensuring world-class service delivery from teams Manage relationships with regulator, providers and multi-functional SEB teams 
  • Keeping up to date with regulatory developments in the pension fund, employee benefits financial and  insurance services industry 
  • Understand and oversee Fund service level agreements with all internal and external stakeholders Attend to management interaction and ensure best Fund processes in line with statutory requirements Draft Fund Board policies 

Reporting  

  • Controlling the outcome of the determinations issued and ensuring adherence 
  • Provide monthly reports for the relevant stakeholders 
  • Be able to deal with the Board of Trustees and other stakeholder enquiries 
  • Innovative and Team Player 
  • Self-starter and ability to work independent 
  • Liaison with the Fund representatives or service providers to facilitate the resolution of complaints Actively participating and be actively involved in the strategic management of the office Be sufficiently familiar with organisational development and change management processes to have a positive  impact on the management of a team 
  • Maintain strong relationships with stakeholders and relevant Authorities
  • Keep the business abreast of legislative, regulatory and industry developments 
  • Provide oversight in the interpretation and analysis of statutes relevant to the company, the communication of  legislative and regulatory changes to the business and the updating of these changes to existing processes, as  required 
  • Ongoing updates distributed to management and staff via email;  
  • Quarterly face-to-face Legal & Technical Briefing Sessions to all staff; and
  • Attending IRFA Legal & Technical quarterly meetings and providing feedback to the business after these  meetings
  • Oversee and manage the following critical outputs
  • Clear the backlog of PFA complaints in respect of the Private Security Sector Provident Fund for the period  June 2018 – February 2019 
  • Ensure that responses to PFA complaints are of high quality and speak to supporting documents annexed  thereto 
  • Compliance Mailbox to be attended to daily to ensure that PFA complaints and determinations are routed to  the right staff and dealt with timeously 
  • Ensure that adverse and appealable PFA determinations against the Transport Sector Retirement Fund are  ring-fenced, communicated to the Fund and, if necessary, appeals must be lodged with the Financial Services  Tribunal timeously 
  • Ensure that no backlog is created in relation to current PFA complaints and implementation of PFA  determinations 
  • Ensure that FSCA complaints are responded to timeously 
  • Compliance Management Provide oversight and play a leadership role in the Compliance Management  function 

Competencies  

  • Matric 
  • Excel 
  • Communication (Written and Verbal) 
  • English (Business writing and email etiquette) 
  • Stakeholder management (CRM) 
  • Industry knowledge and experience 
  • Accuracy and attention to detail 
  • Judgement and Decision Making 
  • Working under pressure And Deadline driven 
  • Organizational skills / Planning and prioritizing 
  • Interpersonal skills 
  • Settings goals 
  • Cross team collaboration 
  • Innovation 
  • Management of time 

Qualifications  

  • Relevant BCom, or Bachelor’s Degree, MBA Preferable 
  • 10 years’ experience in a similar position 
  • EB experience 
  • Financial Acumen 
  • Legal Qualification FAIS accredited-RE1 
  • Excellent command of English 
  • 3years experience in management and complaints resolution 
  • 5years experience in the Retirement Fund industry/Employee Benefits 
  • Ability to work independently and as a team member 
  • Pensions Law Pension Funds Act 24 of 1956 
  • Knowledge of other SA Legislation 
  • Excellent communication skills (verbal & written) 
  • The incumbent may not be someone previously removed from an office of trust

To apply for this job please visit www.jcmconsult.co.za.

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