Risk and Compliance Officer at Sanlam Life Insurance Zambia Limited
- Company: Sanlam Life Insurance Zambia Limited
- Location: Zambia
- State: Lusaka
- Job type: Full-Time
- Job category: Administrative/Secretarial Jobs in Zambia
We’re in the business of planning for tomorrow. The never-ending pursuit of meticulously crafting our clients’ futures. We do this by truly appreciating the value of money and turning the materials we’re given into something more. It’s our trade and it is something we are passionate about. It’s what makes us Live with Confidence. Sanlam Life Insurance Zambia Limited seeks to recruit qualified and experienced professionals to fill in the position of Risk and Compliance Officer.
Reporting to the Assistant Manager-Risk and Compliance, the Risk and Compliance Officer will be responsible for assisting to ensure a strong internal control environment through monitoring compliance to policies and standard operating procedures. The position will work closely with the Assistant Manager to foster Sanlam’s full governance, compliance and assurance portfolio and collaborate with business units as well as internal and external stakeholders to ensure consistency with the business strategy.
Purpose of the role
To assist in operationalizing the enterprise-wide risk management framework and conducting ongoing compliance monitoring as per annual compliance plan.
Assist with performing risk assessment, testing, monitoring and manage reporting processes within the broader context of the company’s regulatory requirements, policies, processes, regulations and rules.
Assist in driving compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) policies and guidelines through analysis and Quality Assurance checks.
Coordinate incident reporting procedures by conducting investigations and recommending mitigating controls to minimize operational risks.
Assist with risk Register internal controls reviews.
Assist with monitoring customer screening alerts and conducting enhanced due diligence.
Assist with suspicious transaction monitoring, drafting and filling of Suspicious Activity Reports (SARs) in line with the FIC reporting guidelines as well as the PIA guidelines.
Track overdue open audit findings and assist with follow ups to ensure timely closure.
Providing support to the Departmental Risk Reporting Champions with compliance related matters.
Assist with process reviews to ensure operational efficiency and cost effectiveness.
Participate in fraud prevention awareness activities including trainings.
Coordinate the documentation and review of Key Risk Indicators.
Conduct due diligence on monthly new business and claims.
Assist in preparation of monthly and quarterly risk and compliance reports.
Stay abreast of changing regulations that impact Sanlam business to continuously evolve best-in-class review processes, policies and procedures.
Conduct branch inspections to ensure compliance with regulatory standards and internal operating procedures.
Minimum qualifications and experience
Full Grade 12 certificate (or equivalent)
Bachelor’s Degree or Professional Qualification equivalent to a degree in Business/Accounting/Insurance/Economics/Internal Audit or related fields.
Minimum of two (2) year’s relevant experience in financial services sector
Conversant with Pensions and Insurance (PIA) regulatory environment.
Computer knowledge-Microsoft office package
Strong oral and written communication skills
Strong investigative skills
Adaptable to working in a fast-paced, ever-changing environment.
Excellent organizational and interpersonal skills
Striving for continuous improvement and optimization
Must be flexible to travel at short notice.