Jobs at Old Mutual Plc

Job Description

Individually accountable for establishing and embedding compliance through own efforts, over periods of 1 day to 3 months. Initiates and facilitates corrective action where required. Assists management to develop risk management and compliance strategy & policy through own efforts.

• Establishes and embeds compliance in the holding company (Old Mutual West Africa Company and its subsidiaries, namely Old Mutual Nigeria Life Assurance Company and Old Mutual Nigeria General Insurance Company).
• Ensures compliance within area by implementation of compliance risk management and compliance monitoring plans per each operating entity.
• Ensure compliance with internal Old Mutual governance policies, procedure and requirements. Shall be primarily responsible for updating policy manuals, AML/CFT manuals, Compliance Plans etc and changes as required by the business
• Implements the compliance monitoring plan.
• Reports on compliance breaches to line managementand the Governance Executive.
• Prepares detailed up to date compliance reports as required by the line manager to various governance channels and management committees.
• Ensures all regulatory returns are filed as required.
• Facilitates resolution of compliance breaches.
• Assists in mitigation of compliance risks.
• Reports to the Governance Executive.
• Influence is limited to specific assigned functional area.
• Focuses on legislation and impact of legislation on the BU/functional area.
• Flexible and dynamic approach to work demands, expected to provide support to the Governance team on team related tasks as required by line manager.
• Ensures internal Group compliance requirements are adhered to and responsible for ensuring all compliance attestations are concluded within deadlines.
• Ensures regular stakeholder engagements (including regulatory engagements), coordinates all regulatory engagements under the supervision of the Governance Executive.
• Develops and embeds the regulatory strategy and regulatory engagement framework.

Key Result Areas

Compliance:

• Ensures compliance within area by implementation of compliance risk management and monitoring plan, as well as through staff supervised, over periods of up to 3 months.
• Reports on compliance breaches to line management and Governance Executive.
• Facilitates resolution of compliance breaches.
• Assists in mitigation of compliance risk.
• Focuses on legislation and impact of legislation on the BU/functional area.
• Assists the Governance Executive with the effective co-ordination and execution of the quarterly audit, risk and compliance meetings for Old Mutual Nigeria and all the subsidiary companies.
• Challenges and escalates (within the defined escalation framework) where deemed appropriate.

Personal Effectiveness:

• Accountable for service delivery through own efforts.
• Individually accountable for managing own time, tasks and output quality for periods of up to 3 months.
• Makes increased contributions by broadening individual skills.
• Collaborates effectively with others to achieve personal goals.
• Accepts and lives the company values.

Qualifications and Experience

• A first degree or its equivalent in relevant field  (Master’s degree is an advantage), ACAMS or similar certificate in Compliance
• At least 6 years work experience (three of which must be at middle management level)
• Relevant industry experience is required
• Excellent communication skills (verbal and written)
• Strong analytical skills
• Good Excel and PowerPoint skills

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Job Description

• This role is individually accountable for assisting the BU in establishing and embedding a culture of proactive risk based decision making as well as ensuring that risk processes are implemented at the BU level. The individual is accountable for achieving results through their efforts over periods of up to 3 months.

Descriptor

• Challenges risk management information collated by and received from business units.
• Ensures risk processes (risk assessment, identification, management, reporting, and optimization) are occurring at the BU level.
• Provides knowledge of systems/supporting guidance, and procedures and assists the business in the implementation of risk issues.
• Provides oversight for risk management activities ensuring Group Risk Policy statements are met.
• Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures.
• Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management
• and monitoring plans.
• Ensures monthly risk control logs are updated and follows up with various Line Managers.
• Performs quarterly compliance audits on processes.
• Performs monthly quality assurance reviews on audit issues and identified control breaks.
• Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem.
• Reports risk events and compliance breaches to management on a monthly/quarterly basis.
• Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate risk issues and non-compliance with legislation and regulation.

KEY RESULT AREAS:

Personal Effectiveness:

• Accountable for service delivery through own efforts.
• Individually accountable for managing own time, tasks, and output quality for periods of up to 3 months.
• Makes increased contributions by broadening individual skills.
• Collaborates effectively with others to achieve personal goals.
• Accepts and lives the company values.

Risk Management:

• Challenges risk management information received from reporting entities
• Ensures risk processes (risk assessment, identification, management, reporting, and optimization are occurring at the BU level.
• Provides knowledge of systems/supporting guidance, and procedures and assists the business in the implementation of risk issues.
• Provides oversight for risk management activities, ensuring Group Risk Policy statements are met.
• Provides support in carrying out risk-related responsibilities.

Compliance:

• Identifies applicable legislation and analyses the impact thereof on the BU and applies this to BU processes and procedures.
• Ensures compliance by the BU with applicable legislation by means of the implementation of compliance risk management and monitoring plans.
• Performs quarterly compliance audits on processes.
• Reports compliance breaches on a monthly/quarterly basis.
• Facilitates and in appropriate circumstances partakes in, remedial actions developed by the BU to help eliminate non-compliance with legislation and regulation.

Reporting:

• Ensures monthly risk control logs  and risk events are updated and follows up with various Line Managers.
• Compiles monthly reports (standing reports) on issues identified and reports on actions taken to rectify the problem.

Qualification & Experience

• 5-year tertiary qualification (B.Sc). 3 years relevant experience

Skills

• Collecting Information,
• Communication,
• Detail-Oriented,
• Report Presentations,
• Report Review, Teamwork,
• Thinking skill