Nedbank | Compliance Officer X1

Job Classification

Job Requisition – 127631
Closing Date – 21 September 2023
Location – Johannesburg
Nedbank Wealth Cluster – Nedbank Insurance Division
Please Note: Preference will be given to applicants from Underrepresented Groups

Job Family

Career Stream

Leadership Pipeline

FAIS Affected

Job Purpose

Support and assistance of the Nedbank Insurance Distribution management and staff with the coordination; facilitation and management of the compliance, advice, risk, contractual and oversight requirements through the creation and implementation of effective ways of work, process management, reporting and the development of networks; providing guidance to minimise regulatory; reputational and compliance risk and endeavour to avert potential financial losses, reputational damage, litigations/ penalties

Job Responsibilities

• Effective management, review and monitoring of the compliance, advice, risk and oversight standard operating procedures, policies and process requirements and reporting
• Ensure effective management by monitoring adherence to compliance policies and procedures and relevant regulatory frameworks and taking corrective action where necessary
• Share knowledge and industry trends with team, colleagues and stakeholders during formal and informal meetings
• Seek opportunities to improve business system and processes by the identification and recommendation of effective ways of operating and adding value to Nedbank
• Build and maintain effective stakeholder relationships through adherence to the stakeholder framework and ongoing communication
• Drive and monitor the implementation of the risk management and market conduct strategy against objectives and outcomes by ensuring that all businesses within the area of influence are aligned
• Ensure optimisation of resources and work flow to increase productivity by ensuring effective resource management and work allocation
• Ensure distinctive customer experience through driving the compliance, risk management and Market Conduct strategies
• Ensure synergy between business units and stakeholders through consistent and constant communication
• Ensure active and successful growth of Nedbank market share across the segments through effective risk management and the enhancement of business systems and processes
• Develop and manage the budget according to the business requirements
• Ensure transformational targets are achieved through staff recruitment, retention, development and training processes

Job Responsibilities Continue

• Contribute to a culture conducive to the achievement of transformation goals and support business strategies that improve the corporate image by ensuring self; managers and team participation in Nedbank culture building initiatives
• Ensure issues raised in the staff surveys are addressed and results are improved by ensuring action plans are created and implemented
• Deliver a world class service through others by ensuring a client centric culture through required interventions
• Identify areas of resource inefficiencies and promote optimisation through promoting multi-skilling and addressing capacity gaps by reviewing and improving work processes
• Optimise efficiency and embed correct values by ensuring direct reports understand and support Nedbank’s vision; values and strategy and are measured on delivery against these
• Manage performance by implementing GCC’s; ensuring a clear vision; agreeing on goals and objectives; providing and receiving regular feedback on performance; recognising and rewarding achievement and take appropriate corrective action where required
• Identify relevant development needs by assessing performance and behaviour through formal and informal feedback
• Drive to execute planned development by attending learning; seeking coaching or other industry or technical learning events and opportunities
• Build depth of skills and knowledge in the team by sharing knowledge and insight with team members through  mentoring; coaching and day to day activities
• Ensure continuous improvement goals are achieved by creating an environment by challenging the status quo by initiating constructive debates about work practices and areas for improvement

People Specification

Essential Qualifications – NQF Level

Essential Qualifications and Certifications

Matric / Grade 12 / National Senior Certificate
Relevant Representative and Key Individual qualifications
Personal and Commercial Lines FAIS accreditation
Relevant insurance industry-specific qualifications
Advanced Diploma/ Relevant Degree

Preferred Qualification

Post Graduate Compliance | Risk Management Qualification

Essential Certifications

Preferred Certifications

• Compliance Institute of South Africa (CISA) – preferred, not essential

Minimum Experience Level

8-10 Years in a compliance role of which 5 years should be in a management role

Technical / Professional Knowledge

Behavioural Competencies