Internal Governance Officer

What will you do?

The Sanlam Life and Savings (SLS) cluster provides clients across different market segments (middle-income, affluent, professional market and business owners) with a comprehensive range of appropriate and competitive financial solutions. These include traditional life insurance risk and savings products, investment, retirement, health and fiduciary services. Our products are designed to facilitate long-term wealth creation, protection and niche financing and therefore these solutions are engineered around client needs. 

The Business Shared Services unit is responsible for all the servicing needs of these clients once the new business has been finalised.  This includes all incoming service channels e.g. Call, Mail, Fund and Claims centres.  We also provide back office maintenance services including data remediation.  

We believe in creating and cultivating a positive, energised working environment that gives you every opportunity to achieve success. Sanlam is committed to transformation. Appointments will be made in line with the company’s transformation plan. This commitment is what drives us to achieve a diverse workplace with employment equity as a key goal to create an inclusive workforce, representative of the demographics of our society as well as people with disabilities.
 

What will make you successful in this role?

Job Purpose:

This exciting career opportunity is responsible to ensure implementation of compliance across the business value chain for Sanlam Recurring Savings and Closed Book and other Retail Affluent businesses for certain regulations where Business Shared Services takes the lead e.g. PDD Remediation of the Sanlam Life client base, implementation of all compliance functions and requirements for the Life and Savings business.

Businesses impacted include Sanlam Recurring Savings & Closed Book, Sanlam Individual Life and Sanlam Life Investments.  Formalise and communicate regulatory requirements to ensure compliance by PDD Analysts to ensure due diligence prior to transacting and during the course of the business relationship.

Ensure businesses have clear knowledge and understanding of the regulatory framework of the Life and Savings Business and the Monitoring and review thereof.  

Implement and uphold company policies and procedures that relates to best practice in order to maintain corporate governance and competitive edge.

Output/Core Tasks:

1.    Ensure business always screens against most recent watch lists
2.    Ongoing monitoring of politically exposed person’s and high-risk clients – strategically and operationally
3.    Suspicious transaction reporting to Anti-Money Laundering Reporting Officer

•    Conduct periodic internal reviews or audits to ensure that compliance procedures are followed
•     Perform Enhanced Due Diligence Quality Assurance / checks on high risk clients 
•     Monitor Dynamic Risk assessment reports to recommend changes, if need be

4.    Management reporting:

•    Monitoring purpose - Preparation of monthly and quarterly Compliance Reports
•    Maintain regulatory or compliance documentation.
•    Analyse risks to minimize losses or damages.

5.    Identify opportunities for enhancement of policies, standards and controls for potential improvements in training and communication programs.
6.    Provide recommendations to business based on Group compliance office requirements
7.    Review of the Party Due Diligence department in order to make structural and strategic decisions
8.    Assist the Party Due Diligence Analysts administratively (excluding productivity)
9.    Responsible for management of Party Due Diligence Analysts
10.    Monitoring of regulations that impact Life and Savings businesses

•      Assist with implementation thereof
•     Represent Savings and Closed Book business in various regulatory forums

11.    Liaison person between Party Due Diligence Analysts and businesses to review efficiency and compliance implementation
12.    Assist senior management with monitoring of remediation project(s)

•     Includes monitoring of Remediation progress and deadlines 
•     Monitoring of data quality
•     Extraction of reports

13.    Investigate and remediate compliance audit findings
14.    Assist business with implementation and vesting of Policy Protection Rules, Governance and Operational standards for Insurers, Protection of Personal Information Act and other regulations

•     Represent recurring Sanlam Savings and Closed Book business in various compliance forums

Role Requirements

Qualifications:
•    B. Juris / BA Law / B. Proc / LLB / BCom / Other commercial degree will be advantageous
•    Certificate or Diploma in Compliance Management or Financial Planning will be advantageous
•    Meet the Financial Advisory and Intermediary Service Act and Proper requirements to be a Financial Sector Conduct Authority registered Compliance Officer (Cat I) will be advantageous

Knowledge:  

•  Knowledge of the Compliance monitoring; risk management and review programmes within the Financial services Industry, especially insurance.
•  A thorough understanding and knowledge of the regulatory requirements impacting on the business, specifically Financial Advisory and Intermediary Service Act, Financial Intelligence Centre Act, Protection of Personal Information Act, Long Term Insurance Act, Policyholder Protection Rules 
• Knowledge of the management of business processes, distribution and product house channels

                -Understanding of the Savings and Closed Book business will be advantageous

Experience:
•    At least 3 years relevant experience in Compliance, Legal and Risk management within the Financial Services industry 
•    Experience with Sanlam’s Compliance, Legal or Risk management processes is an advantage 
•    Regulatory experience
•    Good business acumen
•    Sanlam Life business

Sanlam core competencies:
•    Cultivates Innovation 
•    Client Focus 
•    Drives Results 
•    Collaborates 
•    Flexibility/Resilience

Role Competencies:
•    Self-starter and ability to work independently
•    Creative problem solver and Pragmatic
•    Analysis and Analytical ability
•    Communication, presentation, influencing and negotiation skills
•    Display ethics and a high degree of professionalism and integrity
•    Organisational awareness
•    Results driven
•    Building and maintaining effective relationships
 

Build a successful career with us

We’re all about building strong, lasting relationships with our employees. We know that you have hopes for your future – your career, your personal development and of achieving great things. We pride ourselves in helping  our employees to realise their worth. Through its five business clusters – Sanlam Fintech, Sanlam Life and Savings, Sanlam Investment Group, Sanlam Allianz, Santam, as well as MiWay and the Group Office – the group provides many opportunities for growth and development.

Turnaround time

Should you not hear from us 4 weeks after the closing date (31 March 2025), please assume that your application has been unsuccessful.

The shortlisting process will only start once the application due date has been reached. The time taken to complete this process will depend on how far you progress and the availability of managers. 

Our commitment to transformation