Compliance & Legal Officer Job at Old Mutual Nigeria

Old Mutual Nigeria consists of a Life Assurance and General Insurance business and provides a wide spectrum of insurance solutions tailored to meet unique individual and corporate clients' circumstances.

We are recruiting to fill the position below:

Job Position: Compliance & Legal Officer

Ref No: JR-31902
Job Location: Lagos
Job Type: Full-Time

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 the area by implementing of compliance risk management and compliance monitoring plans per each operating entity.
  • Ensure compliance with internal Old Mutual governance policies, procedures and requirements. Shall be primarily responsible for updating policy manuals, AML/CFT manuals, Compliance Plans etc and changes as required by the business
  • Ensures all regulatory returns are filed as required.
  • Facilitates resolution of compliance breaches.
  • Assists in mitigation of compliance risks.
  • Reports to the Governance Executive.
  • Implements the compliance monitoring plan.
  • Reports on compliance breaches to line management and the Governance Executive.
  • Prepares detailed up to date compliance reports as required by the line manager to various governance channels and management committees.
  • 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

  • Ensures compliance within the area by implementation of compliance risk management and monitoring plan, as well as through staff supervised, over periods of up to 3 months.
  • Focuses on legislation and the impact of legislation on the BU/functional area.
  • Assists the Governance Executive with the effective coordination and execution of the quarterly audit, risk and compliance meetings for Old Mutual Nigeria and all the subsidiary companies.
  • Reports on compliance breaches to line management and Governance Executive.
  • Facilitates resolution of compliance breaches.
  • Assists in the mitigation of compliance risk.
  • 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 a relevant field (Master’s degree is an advantage), ACAMS or similar certificate in Compliance
  • At least 6 years of work experience (three of which must be at the middle management level)
  • Relevant industry experience is required
  • Excellent communication skills (verbal and written)
  • Strong analytical skills
  • Good Excel and PowerPoint skills.