The incumbent is responsible for the full legal function in the PPS Short Term business. This will include developing and implementing a legal risk management strategy for PPS STI. He/she will be responsible for proactively and constructively assisting the business in identifying and interpreting applicable legislation and minimising legal risks through the providing of legal advice and assistance to the business.
From a compliance perspective, the successful incumbent will be responsible for proactively and constructively assisting the business in managing its responsibility to comply with all regulatory items and minimise compliance risks through the providing of advice and guidelines to operational management through the application of risk management principles, policies, processes and procedures.
Duties include developing compliance risk management solutions within strategic guidelines and policies and to facilitate the management of compliance risks and breaches within the Business Unit through application of accepted risk management principles.
About PPS Short-Term Insurance
As a member of the PPS Group, PPS Short-Term Insurance has inherited an understanding of the needs of graduate professionals that has been developed across almost 8 decades of service to this community. This understanding, combined with our deep respect for graduate professionals, has resulted in a short-term cover offering that is tailored to meeting the needs and expectations of the discerning professional.
We’re the Smart Choice for graduate professionals, because we are the only insurer in South Africa developed around an Ethos of Mutuality and dedicated to understanding and supporting the graduate professional. This dedication is reflected in our comprehensive offering and the level of service excellence provided by our Private Client Specialists.
Duties & Responsibilities
Leading and being accountable for the legal and compliance function
Identifying applicable legislation, provide commentary, performing impact analysis and giving advice and guidance to the business
Drafting legal contracts, policy documents, etc and reviewing standard business communications
Providing legal support to all areas of the business
Complaints management, including complaints received from different Ombudsman offices.
Liaising with key stakeholders in the business, the FSCA, PA and other regulatory bodies when required
Demonstrating effective management by setting objectives for team member, facilitating work prioritisation and performance management
Implementing mechanisms to ensure the development of team member, including enhancing skills and knowledge. This includes the effective dissemination of compliance knowledge amongst the team
Desired Experience & Qualification
Admitted as an attorney of the High Court
Completed practical legal training at an accredited law school preferred
Completed a postgraduate diploma / degree with a commercial application preferred
Sound academic track record
Experience & Knowledge
8+ years overall post-articles experience and a minimum of 4 years Financial Services experience, preferably at a large corporate or a bank, but alternatively in legal practice dealing with insurance and/or financial services matters
Minimum of 3 years of overall experience must be in a Short-term Insurance role at a large corporate or a bank
Extensive experience working with financial services legislation for example LTIA, STIA, FAIS, FICA, CISCA, etc
Comprehensive expert knowledge of Financial Services Regulatory Environment
Demonstrated knowledge of Compliance Risk Management Methodology
Expert Legislative Knowledge
Able to implement various strategic compliance requirements
Anticipates and responds appropriately to the needs, reactions and feedback of various stakeholders internally and externally
Confident in conceptualising, building and presenting plans, and implementing legislation changes
Articulate and communicates in a logical way and structures information to meet the needs and understanding of intended audiences
Expresses opinions, information and key points of view clearly and assertively
Formulation of Legal & Compliance strategies and plans
Ability to independently draft legal documents, for example contracts, policy documentation etc. which are of a complex nature
Able to write, communicate and interpret legislative requirement at the appropriate level
Latest MS Office packages, particularly Excel, Word and Power-point
Interpersonal and Intrapersonal Skills:
Able to independently solve complex legal problems in a systematic and logical manner
Able to collate information and to draft legal reports, for example Exco & Risk Committee reports
Able to partner with customers and/or colleagues (up to ExCo level) to deliberate and discuss complex and/or sensitive issues with the aim of finding an appropriate solution
Good verbal and written communication skills, including report writing skills
Able to conduct legal research
Good facilitation and conflict handling skills
Able to prioritise and work under pressure
Able to meet strict deadlines
Managing process and people to meet strategic objectives
Functioning proactively and strategically with a holistic view on compliance
Able to implement annual compliance plan
Able to advise business on complex compliance matters