EB Fund Compliance Specialist

SUMMARY:
• A large Financial Services company is currently looking for a Fund Compliance Specialist • Main purpose: embed and promote a compliance culture within the company and to provide assurance to company’s board, executive management, the Head of Legal, Risk and Compliance and relevant committees on the level of compliance within the business

POSITION INFO:

RESPONSIBILITIES:

Drafting of Rules, Special Rules and Rule Amendments

• Drafting and submitting to the Trustees for signoff and to the FSCA for registration and approval, main rules, special rules and rule amendments for selected Funds
• Amend service level agreements and related documentation in line with approved rule amendments, where applicable
• Once registered and approved, communicate rule changes to the business, Trustees and other stakeholders if and when required.

Provide a Complaints Resolution Management Function

• Ensure that, in respect of selected Funds, complaints, queries and enquiries from the office of the Pension Funds Adjudicator, the FSCA, external attorneys and Fund members are properly investigated and responded to timeously.  This is to be done in accordance with the legislation, rules, policies, administration procedures and the service level agreements applicable to the Funds in question
• Monitor relevant mailboxes on a daily basis to ensure that that all complaints, queries and enquiries are captured and complied with, in particular complaints and determinations issued by the office of the Pension Funds Adjudicator
• Produce monthly and quarterly reports on all complaints, queries and enquiries in respect of the selected Funds for purposes of board and sub-committee meetings
• Ensure that complaints, queries and enquiries from the office of the Pension Funds Adjudicator, the FSCA, external attorneys and Fund members are captured and maintained on the RESPOND case management system and further ensure that proper controls and record keeping of all complaints, queries and enquiries are kept and are up to date
• Investigate, analyse and monitor escalations and complaints.  Report trends and implement preventative measures thereof with a view to ensure that compliance-related complaints, queries and enquiries are reduced
• Identify, develop, enhance, document and make proposals to implement policies, procedures and processes that are relevant to the Complaints Resolution function.

Employers that are under Business Rescue or in Liquidation

• Ensure that claim forms are completed and submitted timeously to business rescue practitioners and liquidators for the recovery of arrear contributions, late payment interest and other claims that Funds may have against terminating employers
• Liaise with business rescue practitioners and liquidators, resolve queries and attend to all related administrative matters in respect of terminating employers, on behalf of selected Funds
• Produce monthly and quarterly reports on employers that are under business rescue and/or in liquidation in respect of selected Funds, for purposes of board and sub-committee meetings
• Attend to all administrative matters, in conjunction with the Administration department, in respect of participating employers (or Funds, if applicable) that are to be liquidated in terms of section 28 of the Pension Funds Act, including liaison with the FSCA and liquidators appointed by selected Funds

Fund Governance and Risk & Compliance Reporting

• Assist the boards of the Umbrella Funds with governance requirements to ensure compliance with regulatory requirements, if and when required
• Produce monthly and quarterly reports to the boards of selected Funds on relevant Compliance and Risk Management matters per agreed procedures and templates.

Provide support to the Compliance Manager in respect of Compliance Management functions to ensure that:

• Company’s compliance framework and policies are properly embedded and implemented in the business
• There is regular reporting on compliance breaches and progress on mitigation and management plans
• Regulatory information is submitted to the FSCA as and when required, including details of participating employers in the Umbrella Funds
• Company continues to adhere fully to the SLAs with all the Funds and to the regulatory requirements
• Ensure that company remains proactive by staying abreast of issues relating to the Funds’ SLAs and non-SLA compliance issues thereby avoiding ‘nasty surprises’
• Conduct monitoring within the company and the Funds under company’s administration on the impact of legislation, regulation and regulatory practice notes as per the annual Compliance Monitoring Plan
• Compile monitoring reports following reviews and discuss findings as well as recommended action plans with the Compliance Manager and relevant departments within the company.

Provide support to the Compliance Manager in respect of Risk Management functions to ensure that:

• Company’s risk framework and policies related to risks and controls are properly embedded and implemented in the business
• All key risks affecting the company and the Funds are identified, assessed, and adequately reported to the business and thereafter mitigated
• Develop appropriate solutions/remedial actions to identified losses and risk exposures and ensure the effective implementation thereof
• Operational risk losses due to frauds and/or control breakdowns are analysed, reported and monitored
• Business/departmental performance is evaluated through risk scorecards and operational dashboards.

Miscellaneous Functions

• Provide input from a Fund Compliance perspective into the monthly EXCO report on the activities of the Legal, Risk and Compliance unit, for submission to the board
• Assist with litigation matters, including research and liaison with attorneys, if and when required by the Head of Legal, Risk and Compliance
• Cultivate and manage objective working relationships with a variety of stakeholders, including regulators such as the FSCA, the office of the Pension Funds Adjudicator and external attorneys, in the interest of the business
• Maintain expert knowledge on relevant legislation, regulation and industry best practice and the provision of proactive advice and solutions to relevant stakeholders.

MIN REQUIREMENTS:

• LLB, B Proc. or equivalent legal qualification
• Admission as an advocate or attorney of the High Court of South Africa will be an advantage.

Only candidates who meet the outlined requirements and have the relevant experience should apply for this position.

If you have not had any response in two (2) weeks, please consider your application unsuccessful.  Your CV will be kept on file for any further suitable positions.

NB! This job is now closed. You can apply for other jobs by uploading your CV.