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Compliance Officer

Discovery LimitedZA

14 days ago

Job description

Job title : Compliance Officer

Job Location : Gauteng,

Deadline : October 13, 2025

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Job Description

The Financial Advisory and Intermediary Services Centre of Excellence (FAIS COE) is an independent compliance function that provides compliance oversight and advice to Discovery FSPs, key individual and representatives. The purpose of this role is to ensure adherence to regulatory requirements and internal policies related to the effective handling of FAIS client complaints and the fair and legally sound execution of debarment processes within the Financial Services Providers (FSPs).

This role involves investigating complaints, managing the debarment lifecycle, providing guidance and support and maintaining accurate records to mitigate regulatory and reputational risk. The Complaints team is also responsible for all FAIS related complaints and responses to complaints from the Regulator, Tribunal and complainants.

This role description outlines the general nature and level of work performed by individuals assigned to this position. It is not intended to be an exhaustive list of all responsibilities, duties and skills required. The company reserves the right to modify the content of this role description at any time.

Areas of responsibility

The successful candidate will be required, primarily, but not limited to :

General

Ensure the implementation of the Complaints Management Framework within the Discovery FSPs

Review all relevant documents such as policies, SOPs, training material, infographics, etc.

Facilitate the implementation process of the Debarment Policy within the Discovery FSPs

Receive, log and acknowledge FAIS-related complaints through established channels

Conduct thorough and impartial investigations into complaints or recommendations for debarments, gathering relevant information from internal stakeholders or clients

Analyse complaint and debarment details to identify root causes, potential regulatory breaches, and areas for process improvement

Prepare comprehensive investigation reports with findings, conclusions and recommended solutions

Ensure timely and appropriate communication with complainants or stakeholders throughout the investigation process

Facilitate fair and effective resolution of upheld complaints, ensuring adherence to internal policies and regulatory timelines

Compile the document packs for complaints or debarments as required

Facilitate the debarment forum and compile the debarment packs or other documentation as required.

Review the FAIS hearings and Debarments process and enhance efficient way of work where applicable

Ensure that all relevant documents for the Tribunal Cases are prepared and timeously submitted

Draft responses to regulator and / or FSCA

Provide data and information on complaints and debarments for the FAIS reports as required

Providing guidance into business processes, procedures and systems

Keep abreast of regulatory developments and changes in the financial services industry, with particular focus on FAIS and all subordinated legislation

Engage the relevant stakeholders in all complaints and debarments.

Ensure that all registers are populated timeously with the relevant data

Maintain accurate and up-to-date records of all complaints, investigation activities and resolutions

Identify and escalate systemic issues or trends arising from complaints and debarments to relevant stakeholders

Managing stakeholder relationships (internal and external).

Liaise effectively with internal stakeholders, including business units and legal, to facilitate complaint investigations and debarment processes

Build and maintain positive working relationships with the Forensic department and all other stakeholders

Act as a point of contact for the FSCA and other external stakeholders regarding complaints and debarment matters

Draft reports for distribution to Exco, business units and Committees on complaints, debarments and trends identified

Debarments, Complaints and Tribunal matters

Manage the debarment and complaints mailboxes (check mails daily, save to the relevant folder and update the register and Sharepoint)

Manage the end-to-end debarment process in accordance with the FAIS Act and internal debarment policy and SOP

Gather and review information relevant to potential debarment cases, ensuring thoroughness and accuracy

Draft all necessary documents for the Debarment (such as Notice of Intention to Debar, outlining the grounds for debarment and providing the representative with an opportunity to respond, FAIS hearing process, Tribunal cases and complaints

Prepare comprehensive debarment packs for presentation to the Debarment Forum or relevant decision-making committee.

Ensure adherence to procedural fairness throughout the debarment process

Maintain proper record of all debarment proceedings and outcomes.

Ensure timely notification of debarment to the FSCA and relevant internal stakeholders

Ensure the registers are up to date and tracked as a live document.

Review reports from business units and / or forensic reports and provide recommendations to business

Conduct FAIS Hearings, Debarments and Debarment Forum (follow process)

Provide guidance and support on complaints and debarment process

Reporting and Analysis

Prepare regular reports on complaint trends, debarment statistics and key risk indicators

Analyse complaint and debarment data to identify areas for improvement in processes, training and overall compliance

Ad hoc requests

Assist with any ad hoc requests from Management

Education and Experience

3-5 years’ knowledge and experience in complaints handling and debarments;

3-5 years’ experience working for a financial service provider in the application of the FAIS Act as well as thorough understanding of the legislation; and

Familiarity with regulatory reporting requirements

Relevant tertiary education (eg., Law, Compliance, Risk Management)

Post-graduate qualification in Compliance Management, RE1, RE5, etc. (advantageous)

Member of CISA, Registered Compliance officer with the FSCA (advantageous)

Skills and Personal Attributes

Detailed knowledge of FAIS related legislation and regulations to be able to interpret and apply legislation

Strong analytical and problem-solving skills

Ability to make rational judgements from the available information and analysis and provide considered and consistent advice

Strong written and verbal communication skills, including report writing and presentation abilities

Ability to work as a team, understand the impact of decisions and be confident enough to raise concerns within the team and to senior management

Strong research ability and high level of attention to detail and accuracy

Ability to work independently and as part of a team

Strong ethical principles and a commitment to fairness and impartiality

Ability to work well under pressure

Efficient time management skills, including quick turnaround time on quality work

Proficiency in relevant software and systems (e.g. MS Office Suite, complaints management system)

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Compliance Officer • ZA

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