Risk and Compliance Internship - 12 Months Contract

This 12-month contract internship offers a valuable opportunity within the Risk and Compliance team at OUTsurance, a prominent South African financial services provider. Based in Centurion, Gauteng, the role is designed for individuals eager to gain practical experience in ensuring regulatory adherence and managing compliance risks across the organisation's Southern Africa operations. This programme is ideal for those with a legal or auditing background looking to kickstart their career in a dynamic and values-driven environment.

About the role

The primary focus of this internship is to support the monitoring and assurance processes that uphold compliance practices within OUTsurance. You will play a part in identifying, assessing, and reporting on compliance risks, contributing to the overall risk management framework. This role provides exposure to various business units and requires close collaboration with internal departments to ensure a cohesive approach to risk management.

As a Risk and Compliance Intern, your responsibilities will encompass a range of essential tasks:

• **Monitoring and Assurance:** Assist in monitoring compliance risks and assessing the current state of adherence within different business units. This involves identifying potential areas of non-compliance and contributing to mitigation strategies.
• **Risk Management:** Support the identification, management, mitigation, and reporting of all regulatory and compliance risks, ensuring they are handled effectively.
• **Compliance Execution:** Help in the execution of the compliance monitoring plan, ensuring scheduled activities are carried out and documented.
• **Record Keeping:** Accurately record instances of non-compliance and follow up on agreed-upon recommendations for resolution.
• **Stakeholder Engagement:** Develop and maintain positive working relationships with internal stakeholders, participating constructively in discussions and engagements.
• **Collaboration:** Work alongside other assurance functions, including Risk Management, Internal Audit, and Quality Assurance, to prevent duplication of effort, enhance efficiency, and ensure compliance issues are channelled appropriately for investigation.
• **Reporting:** Contribute to accurate reporting and clear articulation of compliance risks to relevant parties.
• **Advisory Support:** Provide early detection and advice to internal stakeholders on potential contraventions of compliance risks.
• **Ad Hoc Duties:** Undertake additional tasks as required by business needs, which may include supporting legislative compliance matters, contributing to the development and maintenance of the Compliance Risk Management Framework, and analysing current and upcoming regulations.
• **Legislative Analysis:** Provide detailed analysis of proposed and existing legislation, regulations, and policy changes.
• **Query Resolution:** Assist Compliance Officers in responding to compliance queries and resolving issues.
• **Legislative Influence:** Support Compliance Officers in drafting input that can influence proposed legislative changes and projects initiated by regulatory bodies and industry associations.

What they're looking for

OUTsurance is seeking candidates who demonstrate strong ethical values, a keen attention to detail, and a proactive approach to learning and problem-solving. Key attributes and qualifications include:

• **Educational Background:** A relevant Degree in Law (Legal) or Auditing.
• **Communication Skills:** The ability to communicate clearly and concisely, both verbally and in writing, is essential.
• **Interpersonal Skills:** Strong people and interpersonal skills are crucial for building effective relationships with colleagues and stakeholders.
• **Teamwork and Adaptability:** A flexible, team-oriented approach with the ability to adapt positively to change and work under pressure.
• **Problem-Solving:** Demonstrable problem-solving skills to identify issues and propose practical solutions.
• **Initiative and Organisation:** The capacity to work independently, take initiative, and meticulously plan and organise tasks and projects.
• **Integrity:** A high level of integrity and a commitment to ethical conduct.
• **Professionalism:** The ability to engage professionally in all interactions.
• **Attention to Detail:** A meticulous approach to work, ensuring a very high standard of accuracy.
• **Resilience:** The ability to multitask and manage stress effectively.
• **INSETA Internship Eligibility:**
• Must be a South African citizen.
• Must not have previously participated in an internship or learnership funded by INSETA.
• Must be between 18 and 35 years of age.
• Must have been unemployed for at least the past two months.

This internship is aligned with OUTsurance's Employment Equity goals, with preference given to candidates from designated groups who meet the job requirements.

For graduates with a legal or auditing qualification, an internship in risk and compliance offers a foundational stepping stone into the financial services sector. Such roles typically involve learning about regulatory frameworks like FICA and POPIA, as well as internal governance structures. While salaries for internships vary, they provide invaluable experience and a potential pathway to permanent positions within organisations like OUTsurance, Sanlam, Old Mutual, or other major insurers and financial institutions in South Africa. Career progression can lead to roles such as Compliance Officer, Risk Analyst, or Internal Auditor.

Qualifications

• Degree in Legal or Auditing

Take note to qualify for an INSETA Internship program you need to:

• Be a South African citizen
• Not previously part of an internship/learnership with INSETA
• Be between the ages of 18 & 35
• Unemployed in the last 2 months