Purpose of the Job:
To monitor compliance by retirement funds, administrators and other persons responsible for the collection of contributions due to retirement funds to ensure compliance by them with all laws to which they are subject to, including, but not limited to, the Pension Funds Act and regulations, notices and directives issued in terms of that act, the rules of the funds, and the conditions in terms of which administrators and contributions collectors are authorised to render services to retirement funds.
To investigate market conduct issues and assist in the implementation of risk-based supervision;
To make recommendations to the boards and principal officers of retirement funds, and representatives of fund administrators and others on ways to remedy problems identified;
To fulfill such other duties as may reasonably be assigned from time to time, taking into account the nature of his or her work, skills and experience and the needs of the FSCA; and
The person appointed to this position will report to the Manager.
Key Performance Areas:
- Assist with the development of a regulatory framework and monitor compliance with legislation to ensure sound and efficient retirement fund industry and the protection of consumers;
- Analyse annual financial statements of retirement fund benefit administrators to ensure that proper reporting standards and procedures have been followed;
- Liaise with retirement funds and retirement fund benefit administrators on issues of non-compliance;
- Support team members with the analysis of regulatory returns and planning for on-site inspections;
- Assist the Manager with projects and ad hoc tasks;
- Manage and perform on-site inspections on retirement funds and retirement benefit administrators to ensure compliance with pension fund legislation and produce reports on findings or observations; and
- Liaise with industry stakeholders and manage complex complaints and queries and provide technical guidance to retirement funds, benefit administrators and team members.
Other Key Competencies:
The candidates must demonstrate the following skills and attributes: A high level of judgment, confidence and decisive approach; problem analysis; report writing skills, good communication and presentation skills, sense of urgency and persuasiveness. The person must be computer literate.
FSCA is committed towards increasing the representation of marginalised groups in line with its Employment Equity Plan. Persons with disabilities are encouraged to apply.
Please note that correspondence and communication will only be conducted with short listed candidates and that the FSCA reserves the right not to appoint if a suitable candidate is not identified.
A Bachelor of Commerce or Law degree with at least 5 year’s relevant working experience, preferably in the retirement funds industry. The candidate must have knowledge and exposure to the retirement fund benefit administration industry and an understanding of section 13B of the Pension Funds Act, 1956 and Board Notice 24 of 2002. An industry related qualification or a compliance and risk background will be an added advantage.
Closing Date: 12 September 2024
