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Compliance Officer

Business Unit:  Discovery Central Services
Function:  Compliance
Date:  19 Sept 2025

Discovery- Group Compliance

Compliance Officer - Governance

 

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

 

Job Purpose 

The Financial Advisory and Intermediary Services Centre of Excellence (FAIS COE) is a compliance function within Group Compliance that provides compliance oversight and advice to Discovery Financial Services Providers (FSPs), Key Individuals and Representatives. The purpose of this role is to provide sound advice to FSPs in terms of legislation, to implement and maintain the FSP Governance Framework, be responsible for drafting and completion of all FSP reporting obligations, manage and facilitate all FAIS-related regulatory engagements and submissions, attend to all legal obligations for FSPs, and ensure that the FSPs follow best practices and the compliance methodology. 

 

Areas of responsibility may include but not limited to

  • Provide advisory notes to business on regulatory compliance matters, engage stakeholders on resolution of compliance matters and interpretation of legislation, and draft and review compliance guidance notes.
  • Keep abreast of regulatory developments and changes in the financial services industry, with particular focus on FAIS and all subordinated legislation and update and maintain the regulatory universe for the business.
  • Develop and review company policies, frameworks and processes in line with compliance best practice protocols and ensure that they are appropriate for the business and to obtain sign-off. 
  • Ensure all the licensing requirements for FSPs are completed, engage stakeholders and provide guidance and support to ensure licensing requirements are timeously met, monitor compliance with license conditions and restrictions and facilitate submissions to the regulator. 
  • Facilitate the drafting of legal opinions and sign-off, vetting of contracts, including consulting with legal firms as and when required.
  • Draft, review and obtain sign-off of responses for submission to the regulator and attend to the drafting of exemption applications to regulatory bodies.
  • Design, review and sign-off compliance documents as and when required. 
  • Compile and facilitate submissions for key persons to regulators.
  • Manage the compliance officer mailboxes.
  • Analyse regulatory changes and facilitate requests for comments on new and amended legislation.
  • Communicate regulatory requirements to stakeholders; and provide guidance and support on new and amended legislation.
  • Complete impact assessments and conduct workshops on new and amended legislation; and track implementation thereof.  
  • Facilitate all regulatory engagements and provide support to engage with the regulatory and/or industry bodies on complex compliance queries, non-compliance issues, and fines and penalties.
  • Facilitate meeting interactions with the relevant business stakeholders and the regulatory and/or industry bodies; ensure that questionnaires and surveys are timeously completed by the FSPs.
  • Draft and compile submissions to the regulator such as but not limited to annual financial statements, payment of annual levies, etc. and ensure timeous submission to the regulator.
  • Responsible for drafting and review of all FSP reports to various committees, regulator and/or industry bodies and to obtain sign-off.
  • Provide comprehensive reports and feedback to senior management and committees.
  • Provide support on projects such as new business initiatives and third-party interactions as and when required.
  • Management of FAIS COE calendar and workplan and ensure all required entries are tracked, send out reminders and notifications to stakeholders to create awareness of submissions. 
  • Maintain the regulatory universe for the business.

Education and Experience

  • Relevant undergraduate qualification e.g., LLB, BCom, BA, Audit and/or certification in Compliance Management.
  • 3 years’ of working experience in a financial services compliance role in the application of FAIS within the FSPs as well as thorough understanding of the legislation.
  • Recognised compliance qualification from accredited institution (Advantageous)
  • Member of Compliance Institute of South Africa or Financial Planning Institute (Advantageous).

 

Skills

  • Detailed knowledge of local (South African) legislation relating to financial services and able to interpret and apply legislation, including, but not limited to the following: FAIS, POPIA, Insurance Act.
  • Sound understanding of compliance methodology, working knowledge of all elements comprising.
  • Problem solving skills and conflict-management of situations in a constructive and professional manner.
  • Ability to make rational judgements from the available information and analysis and provide considered and consistent advice.
  • Strong communication, reporting and presentation skills.
  • Ability to work as a team, understand the impact of decisions and be confident enough to raise concerns within the team and to senior management.
  • Strong research ability and attention to detail.
  • Detailed and technical expertise in the operation and governance requirements of FSPs.
  • Develop an effective network with business representatives and to build the necessary trust relationship with business representatives.
  • Writes in a well-structured and logical way – must have ability to write and review compliance policies and draft compliance guidance notes and reports with detail required to inform the business of regulatory requirements and potential impacts.
  • Able to work well under pressure.
  • Efficient time management skills, including quick turnaround time on quality work.

 

 

 

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

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