Compliance Intern at Jubilee Insurance

Job Ref. No. JLIL200

Role Purpose

The role holder will assist the Regulatory affairs manager to ensure full compliance of the Life Business, assist in ensuring that the company is compliant with internal Jubilee Insurance policies, all external regulations, acts and laws applicable in the insurance and financial services industry. The role holder will also assist in overseeing and implementing the company’s compliance framework, thus mitigating compliance risks, and upholding the highest ethical standards withing the organization.

Main Responsibilities

• Assist in ensuring that applicable regulation is adhered to by the business and support functions through day-to-day monitoring and regular review to ensure compliance to existing legislation, regulations and internal policies and controls.
• Assist in ensuring that compliance risks are identified, assessed, controlled and enforced.
• Assist in identifying suspicious transactions and reporting of these transactions to the Money Laundering Reporting Officer without tipping off.
• Assist in reviewing company processes/operational manuals and systems to ensure that they are regularly updated to meet the set regulations, policies and all other requirements such as mandates, escalations, controls etc.
• Assist in identifying areas of compliance weakness and recommend remedial measures in consultation with the regulatory affairs manager.
• Follow up with the various stakeholder on closure of the Compliance Gap Analysis/Tracker.

Key Competencies

• Understanding of Regulations and Laws. Develop a solid understanding of relevant laws and regulations applicable to the industry. Stay updated on changes in legislation and compliance requirements.
• Analytical Skills. Ability to analyze complex information and identify compliance issues. Conduct thorough research to interpret and apply regulatory requirements.
• Attention to Detail. Demonstrate a high level of accuracy and attention to detail in reviewing documents and data. Identify inconsistencies and discrepancies to ensure compliance.
• Organizational Skills. Manage and organize compliance documentation and records. Prioritize tasks effectively to meet deadlines and respond to compliance inquiries.
• Adaptability. Adapt to changes in regulations and internal policies. Learn quickly and adjust strategies to ensure ongoing compliance.

Qualifications

• B.Sc. Finance Related field, Bachelor of Laws, Bachelor’s degree in a business or related field.
• IT proficient (proficient in MS Word, Excel and PowerPoint)
• Diploma in Insurance