Falane Solutions Limited
About the job
- Makes sure that the company’s policies and procedures are in line with all rules and regulations.
- Implements and manages new rules and regulations when they are passed by the state or regulatory bodies, e.g. PIA
- Ensures all policies and procedures are being followed precisely and with no corners cut.
- Analyses and reviews of policy documents/contracts and various underwriting manuals to ensure consistency with company objectives.
- Analyses and reviews of underwriting, reinsurance and claims procedure manuals.
- Consolidates and analyses periodic production performance reports
- Establishes and maintains strong working relationships with direct clients, brokers & Agents to ensure adherence to PIA regulations & intermediary agreements.
- To facilitate the implementation of the Company’s Risk Management Framework Identifying, assessing, mitigating and reporting all operational risk exposures
- Identifies and assesses the compliance risks associated with the Company’s business objectives
- Establishes a well-documented risk- based compliance program outlining the planned activities and how these will enhance performance
- and activities.
- Sustains a compliance culture & awareness in the Company by developing the Compliance Risk Management Plan.
- Participates and where appropriate leads in the development, implementation and evaluation of strategic plans, business plans, operational policies & procedures for the Company.
- Initiates investigations when possible non-compliance takes place within the institution.
- Monitors implementation of action plans to address operational risks.
- Ensures that appropriate periodic business performance information is available to report on performance against business objectives and financial targets.
- Evaluates compliance systems and ensures adequate software is in place.
- Offers advice to the company on compliance issues when need arises.
- Maintains a working knowledge of relevant legislation, regulations and codes of practice and ensures these are adhered to by advising Management on compliance laws, regulations, rules and standards.
- Ensures optimum implementation of audit findings and recommendations.
- Prepares periodic reports on compliance to applicable laws, regulations and internal policies; and
- Prepares quarterly reports on significant risk exposure.
The COO may assign any other related duties to the job holder as and when required