Vacancy Details
Employer: Lottostar (Pty) Ltd
Legal & Compliance Officer – LottoStar (Pty) Ltd
The Legal and Compliance Officer will be responsible for ensuring that appropriate processes, systems and structures are in place to manage compliance with the Company’s legal and regulatory obligations and minimising risks to the business.
In this role, you will have responsibility for all aspects of betting regulation and compliance with the relative legislative requirements including, but not limited to, those of the Protection of Personal Information Act, Financial Intelligence Centre Act and the various Acts, operational rules, regulations and the like of the relevant Gambling Boards.
In this position you will be responsible for examining and researching the risk areas across the business and mitigating identified risks ensuring full compliance with all applicable regulations, legislation, company policies and best practices. You will also drive compliance awareness and encourage a compliance culture across the business. You should have proven experience in a highly regulated environment. A high-level of attention to detail is essential with an ability to prioritise and meet tight deadlines. We are a passionate, forward-thinking, innovative company where things are always happening. We’re looking for people who work quickly, are competitive self-starters, smart and do what is needed.
Job Description – inclusive of, but not limited to:
- Escalation of any significant compliance/non-compliance issues, i.e., irregular activities of players and/or potential issues in policies or systems to the Legal Advisor & Compliance Officer and Directors; leading investigations and remediation promptly and effectively.
- Maintaining a solid understanding of regulatory developments internally and externally, in addition to evolving best practice in compliance control.
- Implementing, monitoring and ensuring compliance with relevant standards, processes and best practices.
- Interpreting legislation and formulating legal arguments for or against various gaming related proposals.
- Ensuring that internal controls are in place to provide reasonable assurance of compliance with established company regulatory requirements.
- Ensuring that all external regulatory requirements are complied with.
- Work with the compliance team of the call centre to ensure all players remain compliant with the Financial Intelligence Centre Act requirements and make determinations on the submission of reports to the FIC. Understand when transactions require the submission of reports and action same.
- Identify, investigate and report to management suspicious or high-risk clients and transactions.
- Tracking and monitoring of key risk indicators, controls and action plans.
- Creating and coordinating proper reporting channels for compliance issues.
- Implementing strategies for risk prevention.
- Implementing protocols which enable us to determine the severity of a particular incident.
- Implementing incident management protocols (dealing with the corporate cultural/legal and human resource aspects of an appropriately categorized breach).
- Planning, implementing and overseeing risk-related programs.
- Working on the implementation and compliance with the Protection of Personal Information Act.
- Reviewing of all critical business policies from a regulatory compliance perspective and make recommendations for improvement.
- Regulatory follow up on issues identified and raised in reviews to ensure resolution of corrective actions.
- Providing specialized legal advice, both written and oral; preparation of draft memoranda and other legal documents;
- Preparing and reviewing legal documents, instruments, contracts, templates or other material to mitigate LottoStar’s legal risk.
- Conducting research on compliance related topics.
- Compiling risk and compliance reports.
- Corresponding with Players where matters are escalated to the Compliance Officer.
- Confidently respond to queries and any investigations from external and internal parties.
- Educating employees on not only the regulations but also the impact to the organisation if these are not complied with.
- Providing guidance to business and undertake the implementation of compliance policies and projects.
- Collaborating with other departments on cross-functional initiatives that focus on the mitigation of compliance risks.
- Drafting and compiling regulatory submissions.
- Creating and managing effective action plans in response to audit discoveries and compliance violations.
- Developing and maintaining a Personal Information Impact Assessment.
- Conducting compliance audits and draft compliance reports for submission to the Head of Legal and Compliance, Directors and relevant departments.
Candidate Requirements
- LLB Qualification
- Minimum 3+ years in Legal and Compliance or related field.
- Advanced MS Office & MS Excel
- Regularly advising the Company Directors and the Head of Legal & Compliance on compliance issues and regulations - keeping them up to date regarding their obligations under legislation and challenging them when necessary.
- Recognising gaps in existing processes or arising from new regulations and ensuring that the correct remedial actions are put in place to close these gaps.
- Liaising with regulatory bodies, where necessary, in regard to the handling of escalated disputes, licensing, approvals and the like.
- Handling employee and company licensing issues and other related compliance matters by ensuring all company and employee licences are up to date and renewals are submitted before deadlines.
- Applying knowledge of current legislation in identifying non-conformance and related risk.
- Have a strong knowledge of the regulatory framework, guidelines and standards.
- Able to work under pressure.
- Strong, assertive and well organised.
- Able to work with others.
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