Risk & Compliance Officer (OMAO) at Old Mutual February 2024, Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 17 countries.
Our Group was established in Cape Town in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times. Lets Write Africa’s Story Together! Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.
Job Description
This role is individually accountable for assisting the BU in establishing and embedding a culture of compliance as well as ensuring that risk processes are implemented at BU level. The individually is accountable for achieving results through own efforts over periods of up to 3 months
1. Challenges risk management information received from reporting entities
2. Ensures risk processes (risk assessment, identification, management, reporting and optimization) are occurring at BU level
3. Provides knowledge of systems/supporting guidance, procedures and assists the business in implementation of risk issues
4. Provides oversight for risk management activities ensuring Group Risk Policy statements are met
5. Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures
6. Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management and monitoring plans
7. Ensures monthly risk control logs are updated and follows up with various Line Managers
8. Performs quarterly compliance audits on processes
9. Performs monthly quality assurance audits on claims processes
10. Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem
11. Reports compliance breaches to management on a monthly/quarterly basis
12. Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate noncompliance with legislation and regulation
Skills
Accountability, Compliance Reporting, Compliance Risk Management, Management Reporting, Results-Oriented, Risk Compliance, Risk Control, Risk Management
Education
Bachelors Degree (B): Accounting Finance (Required)
Closing Date
26 February 2024
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