Closing Date 2020/02/13
Reference Number LAN200205-1
Job Title Head Legal and Compliance
Division Land Bank Insurance Company
Unit LBIC
Job Type Classification Permanent
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
JOB ADVERT SUMMARY
The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa’s only specialist agricultural bank established in 1912, the bank’s sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to finance land, equipment, improve assets and obtain production credit. The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry. As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.
MAIN PURPOSE OF THE JOB
In terms of the Insurance Act of 2017, the primary function of Head Legal & Compliance is to oversee and manage compliance with insurance legislation and to manage the legal & compliance function for LBLIC and LBIC.
KEY PERFORMANCE AREAS
Manage Legal and Compliance for LBLIC and LBIC
1. Review and analyse current legislation and regulations to determine and confirm the areas of compliance
2. Conduct research into new/proposed legislation to determine the areas of compliance, possible risks to the company and the impact of the business
3. Influence new/amended legislation/regulations where required to ensure the best possible position for the Company
4. Consult the relevant role players to inform them of the Compliance Requirements and the Impact on business
5. Submit the compliance documentation to the relevant government entities for approval if required
6. Communicate and educate staff on the compliance requirements with the relevant role players
7. Implement the compliance requirements as determined to ensure that compliance is achieved
8. Monitor business against the compliance requirements and take rectification actions where required
9. Compile the necessary reports reflecting the performance against the compliance requirements
10. Compliance in accordance with policies, procedures and legal requirements
11. Complete compliance actions within the allocated time frames
Reporting in respect of compliance, legislation, implementation of legislation and issues of non-compliance
1. Sign and submit documents prescribed by the Registrar, such as the statutory returns.
2. Sign and submit forms that the insurer must use to apply for approvals, or notify the Registrar of certain matters, under the Long-term and Short-term Insurance Acts.
3. Participate in and/or facilitate communication (oral, written and electronic) between the Registrar and the insurer.
4. Co-ordinate visits and requests for information by the Registrar
5. Participate in meetings between the Registrar and the insurer.
6. Receive directives and other documents from the Registrar.
7. Manage compliance with the Long-term and Short-term Insurance Acts
8. Appropriately and effectively deal with directives, circulars, letters, requests and other information from the Registrar.
9. Manage Compliance Risk
Statutory Representative to PA/FSCA on Compliance and Legal Matters of LBIC & LBLIC
1. Coordination of PA/FSCA quarterly meetings;
2. Coordination of PA/FSCA onsite visits (ad-hoc);
3. Signing off the PA/FSCA life and short-term company’s quarterly returns
4. Signing off the PA/FSCA life and short-term company’s annual returns;
5. Submission of the FAIS annual report to the PA/FSCA.
6. Timeous response to PA/FSCA correspondence and distribution to relevant
Legal advisory Services
1. Review deals and provides legal advice from origination
2. Once deal is approved provides legal advice regarding deals including structure, contracts (PA/FSCA regulations)
3. Reviews, drafts or vets contracts
4. Brief external council if external counsel is required
5. Conducts due diligence of deals
6. Management of litigation – brief attorneys, submission of documentation, affidavits, consultations with counsel
People Management Performance Management
1. Analyse the business plan to determine the applicable deliverables and targets
2. Compile the Performance Management documentation in collaboration with the staff member in terms of:
1) Job Profile Requirements
2) Key Performance Areas
3) Personal Development Plan
4) Conduct performance planning session and Track and monitor performance in accordance with performance contracts
5) Conduct disciplinary actions as per Land Bank’s policy and procedure where necessary
Capacity Planning
1. Determine the human resource requirements, in accordance with the expected deliverables and current capacity
2. Secure the human capital requirements to ensure that deliverables will be met in accordance with the expected targets
3. Set and achieve employment equity targets.
4. Minimise staff turnover
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