Operational Risk and Compliance Specialist

Let's Write Africa's Story Together

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

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Operational Risk and Compliance Specialist will assist with facilitating, co-ordinating and overseeing all enterprise risk management, legal and compliance related responsibilities across South Africa, the Isle of Man and Guernsey.

The successful incumbent will form part of the Governance Team and will report to the Head of Operational Governance.Key responsibilities will include amongst others the following:

 

Organisational Governance, Risk and Compliance

• Contributing to establishment of a strong risk management culture across the OMI business – including ensuring that OMI remains compliant with all local and offshore regulatory reporting requirements.
• Supporting the Head of Operational  Governance in establishing efficient and effective compliance related processes, frameworks, and tools; including the implementation and ongoing monitoring thereof.
• Provide input into the enhancement of the Operational Risk Management Framework, methodologies, policies, processes and provide guidance to address operational risk and challenges.
• Deliver on the Operational Risk Management strategies and annual business plans aligned to regulatory requirements and take corrective action, where necessary.

Operational Legal and Compliance

• Monitor and review performance and behaviours within area of responsibility to identify and resolve non-compliance with the organisation's policies and relevant regulatory codes and codes of conduct.
• Provides ongoing compliance and legal support, advice, and inputs to the OMI business.
• Review third party contracts and facilitate onboarding of third party vendors.
• Third party vendor management

Insights and Reporting

• Contribute to the design and creation of reporting strategies and templates. Lead execution of complex reports, identifying and interpreting complex patterns and trends, and translating those insights into actionable recommendations.
• Preparation and facilitation of regulatory compliance reporting, maintenance of registers and logs and updating of the control environments.

Policies and Procedures Development

• Draft policies, procedures, and related guidelines within an area of expertise to meet defined key principles and ensure compliance with external requirements.
• Ensuring the relevant compliance procedures and processes are integrated and aligned to the broader client value chain resulting in an improved customer experience - including automation of processes.
• Recommend changes to policies, processes, standards, and practices that would improve operational support.

Change management and stakeholder management

• Planning and initiating effective change management where new regulations, procedures or policies become effective that impact the business.
• Develop and maintain partnerships with stakeholders to facilitate accomplishments of operational risk and compliance objectives.
• Attends key strategic and operational meetings, thereby ensuring that the OMI business and executive team have appropriate knowledge and insight into the key regulatory risks of the business.
• Support the activities of Group Risk, external and internal audit on inspections, investigations, and audits.
• ·Ensure appropriate training to ensure compliance to changes and minimize exposure to risk.
• Translate regulatory requirements into actionable plans and initiatives, collaborating with relevant teams to ensure timely implementation.

Organizational Risk Management

• Maintaining a robust control environment, especially related to AML/CFT and FATCA/CRS.
• Perform a functional analysis on BUs, co-designing solutions whereby the various processes are listed, driving the documentation of all business processes by workshopping, identifying processes with high risk and factor in mitigating controls.
• Ensuring the effective transfer of knowledge via training, coaching, mentoring, one-on-one discussions, workshops etc. to ensure the relevant stakeholders are enabled to fulfil their compliance responsibilities.
• Stay informed of changes in regulations and industry standards, advising management on potential impacts and mitigation strategies.
• Displaying leadership and effective communication when dealing with all internal and external stakeholders.
• Supporting the OMI High-Risk Relationship Management Team if required on BAU.

Qualifications and Experience required:

• LLB/Admitted attorney.
• BCom: Law/ Risk Management or related.
• Regulatory compliance experience in financial services.
• Demonstrated experience in risk/compliance/law.
• 10 years of experience in Governance, Risk and Compliance.
• Minimum of 6 years of experience in insurance law/regulations and AML/CFT/CPF, FATCA/CRS in particular.
• Experience with data privacy and protection regulations and laws like POPI/GDPR.
• Experience in drafting, reviewing, and maintaining policies, procedures, and processes.
• Experience in drafting and reviewing contracts and other legal instruments.
• Experience in the operational implementation of regulations.
• Experience in regulatory reporting and data analysis.
• Strong Excel and analytical skills.
• Strong planning and co-ordination skills.
• Strong business writing and communication skills.
• Detail-oriented with strong analytical and problem-solving abilities.

Advantageous

• Experience in Isle of Man and Guernsey regulations.
• Experience with audits and assessments including remediation.
• Formal qualifications in risk/compliance/law.
• Operational risk management.
• Change Management experience.
• IMS and Cura System knowledge.

Skills

Action Planning, Analytics Software, Budget Management, Computer Literacy, Data Analysis, Database Reporting, Data Compilation, Data Controls, Data Interpretations, Evaluating Information, Management Reporting, Numerical Aptitude, Report Review, Solution Analysis

Competencies

Business InsightCourageDecision QualityEnsures AccountabilityFinancial AcumenInstills TrustManages ComplexityOptimizes Work Processes

Education

NQF Level 8 - Honours or Postgraduate Diploma or equivalent

Closing Date

05 November 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

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