Job Purpose
The Head of Legal and Compliance leads the legal, regulatory, risk and compliance function for CLC and is the single point of accountability for ensuring the business operates fully within the body of legislation governing the South African short-term insurance and value-added products environment. Acting as CLC’s approved FAIS Key Individual, the incumbent manages and oversees the financial services rendered by the business, owns the full contract lifecycle across clients, service providers and insurers, ensures all binder and insurer agreements are in place and correct, maintains a robust risk and compliance control environment, and provides assurance and reporting to the Executive Committee (Exco) and the Board. The role is both a senior advisory function and a hands-on operational one, requiring deep technical knowledge of insurance and financial-services regulation alongside strong drafting, negotiation and governance discipline.
Key Responsibilities
2.1 FAIS Compliance and Key Individual Function
- Act as CLC’s approved FAIS Key Individual, managing and overseeing the financial services rendered by the business across all licensed categories and sub-categories.
- Maintain CLC’s Financial Services Provider (FSP) licence(s) in good standing, including licence variations, category amendments and profile changes lodged with the FSCA.
- Ensure ongoing compliance with the FAIS Act, the General Code of Conduct, and the Determination of Fit and Proper Requirements (Board Notice 194 of 2017).
- Maintain and monitor the registers of Key Individuals and Representatives, including representatives operating under supervision.
- Manage debarment processes and any related representations in accordance with the FAIS Act.
- Embed Treating Customers Fairly (TCF) outcomes across products, processes and the sales and claims journey.
2.2 Binder Agreements and Insurer Engagement
- Negotiate, conclude, maintain and periodically review binder agreements with insurers in line with the Insurance Act, 2017 and the applicable binder regulations.
- Ensure that binder functions performed on behalf of insurers — such as entering into, varying and renewing policies, determining wordings, premiums and the value of policy benefits, and settling claims are properly mandated, accurately recorded and remunerated within the prescribed regulatory parameters, where applicable.
- Engage insurers on all agreements and confirm that each is in place, current, correctly executed and aligned to the products and operational reality of the business.
- Oversee outsourcing and similar arrangements, ensuring appropriate governance, reporting and regulatory compliance.
2.3 Contract Management
Own and manage the full contract lifecycle for all CLC agreements, including:
- Client agreements
- Service provider and master service level agreements (MSLAs); and
- Insurer agreements (including binder and related agreements).
- Draft, review, negotiate and maintain all contracts so that they are legally sound, commercially appropriate and consistent with regulatory requirements.
- Maintain a central contract register that tracks effective dates, renewals, expiries, escalation provisions and key obligations, and flag actions ahead of deadlines.
- Ensure all agreements that involve personal information contain appropriate data-protection provisions, including correct responsible-party and operator clauses in line with POPIA.
2.4 Staff Qualifications and Competence Monitoring
- Monitor that all Key Individuals and Representatives meet and maintain the Fit and Proper competency requirements, including minimum experience and qualifications, Regulatory Examinations (RE1 for Key Individuals and RE5 for Representatives), Class of Business training and product-specific training.
- Track and evidence Continuous Professional Development (CPD) hours and ensure all required training is completed within prescribed timeframes.
- Maintain competence and supervision registers and manage supervision arrangements for staff working under supervision.
- Identify competency gaps and coordinate remedial training with the business and HR.
2.5 Regulatory Submissions and Reporting to Regulators
- Prepare and submit all returns and submissions to the FSCA and any other relevant bodies, including Conduct of Business Returns (CBR), levy submissions, statutory and ad hoc returns, and any FIC/FICA-related reporting where applicable.
- Liaise with regulators on queries, information requests, inspections and thematic reviews, and coordinate timely, accurate responses.
- Ensure all submissions are accurate, complete and lodged within the prescribed deadlines.
2.6 Risk and Compliance Controls
- Develop, implement and maintain the compliance risk management plan and the compliance monitoring programme.
- Ensure that all risk and compliance controls are designed, in place, operating effectively and independently tested, and maintain the compliance and risk registers.
- Embed anti-money laundering and combating the financing of terrorism (AML/CFT) controls in line with FICA.
- Oversee POPIA compliance and act as, or support, the appointed Information Officer; manage PAIA obligations.
- Develop, maintain and communicate compliance policies, frameworks and the compliance universe.
2.7 Oversight of the External Compliance Officer
- Hold monthly and/or quarterly meetings with CLC’s external (independent) compliance officer.
- Ensure that all such meetings are recorded and that the minutes are distributed to all relevant parties.
- Track findings and recommendations raised by the external compliance officer through to resolution, with clear owners and due dates.
2.8 Executive Reporting
- Provide half-yearly compliance reports to Exco covering the compliance and regulatory risk position, key findings and remediation status.
- Report to the CEO and/or Risk and Compliance Committee on regulatory risk, material breaches and the effectiveness of the control environment.
- Advise the executive on the impact of legislative and regulatory developments and translate these into practical actions for the business.
2.9 Legal Advisory and Dispute Management
- Provide legal counsel and support across the business on commercial, regulatory and operational matters.
- Oversee complaints handling, regulatory complaints and Ombud matters, and manage litigation, disputes and external legal counsel where required.
- Provide guidance on new products, marketing material and business initiatives to ensure they are compliant before launch.
