We are looking for a Legal Consultant to analyse applications for licensing and registration and other approvals required in terms of relevant legislation, in order to determine and advise on legal and prudential compliance. The position includes participating in reviewing, updating, researching and providing guidance in the interpretation of legislative and regulatory issues with a specific focus on banking, insurance and financial market infrastructure legislation and regulation.
The successful candidate will be responsible for the following key performance areas:
Analyse applications for licensing and associated approvals sought in terms of the Financial Sector Regulation Act 9 of 2017 (FSR Act) and related sectoral laws and regulations by testing against compliance with the Prudential Authority’s (PA) policies and frameworks in addition to prescribed legislative and prudential requirements.
Provide information and guidance to applicants in respect of submissions for approval sought in terms of the FSR Act and related sectoral laws.
Formulate, motivate and submit – to relevant committees for consideration – recommendations and decisions on applications received.
Engage with various stakeholders/external parties and/or participate in internal and external forums/industry meetings in order to execute the mandate of the regulator, as per legislation, as well as to engage with relevant internal stakeholders in the analysis of applications.
Initiate, negotiate, draft and conclude memorandums of understanding with other regulators for information sharing and joint supervision purposes.
Stay abreast of, conduct research on, and appropriately apply any changes relevant to the legal field/regulatory environment.
Contribute to the development of appropriate legislative and regulatory frameworks that impact the financial sector.
Conduct research on, and provide guidance on, the interpretation of relevant legislative and regulatory issues with a specific focus on banking, insurance and financial market infrastructure legislation and regulation.
Lead and/or participate in ad hoc projects to promote the objectives and deliverables of the PA and the division, including doing presentations and representing senior management at relevant forums.
To be considered for this position, candidates must be in possession of a minimum of:
a Bachelor’s degree in Law or an equivalent qualification; and
a minimum of five years’ relevant experience in legal environment with exposure to financial regulations relating to banking, insurance, financial market infrastructure.
Additional requirements include
knowledge of business protocol;
innovative problem-solving skills;
good communication skills;
good interpersonal skills;
good working knowledge of Microsoft Office and other related software packages;
knowledge of the FSR Act and related financial sector laws and their respective regulations;
industry, business and organisational knowledge and skill;
quality assurance knowledge and skill;
continuous improvement knowledge and skill;
continued learning/professional development knowledge and skill;
knowledge of relevant legislation, regulation, legal principles, procedures, practices and tools;
research knowledge and skill; and
reporting knowledge and skill.