[Hiring] Financial & Compliance Operations Manager @Shuma BC

Role Description

To support the Principal Officer and Board of Trustees through effective financial, operational, governance and compliance oversight of the Scheme.

Duties & Responsibilities

• Responsible for analysing financial performance, budgets and financial reports.
• Identify key risks and provide meaningful insights to support sound decision-making.
• Ensure appropriate governance, regulatory compliance and oversight of outsourced service providers.

Financial Management and Oversight

• High level oversight of the financial performance and position of the Scheme.
• Monitor actual financial performance against budget and identify, investigate and report material variances, anomalies, and emerging risks.
• Identify financial trends, anomalies, emerging risks and areas requiring corrective action.
• Assist the Principal Officer with the preparation, review and monitoring of the Scheme's annual non-health care budget.
• Translate financial information into concise insights and recommendations for the Principal Officer, Board of Trustees and relevant committees.
• Assess the financial implications of significant operational decisions, projects, contracts and Scheme initiatives.
• Support sound financial governance and the responsible management of Scheme resources.

Governance, Risk and Compliance

• Support the implementation and operationalisation of the Scheme's governance and compliance strategy.
• Manage the compliance function in support of the Board and Principal Officer's approved strategy.
• Provide practical guidance to the Scheme on applicable compliance and regulatory requirements.
• Develop and implement compliance plans in consultation with the Principal Officer and other relevant stakeholders.
• Monitor the effectiveness of compliance processes and controls across the Scheme.
• Contribute to the Scheme's risk management and combined assurance processes.
• Ensure that material risks, compliance failures or control weaknesses are reported timeously to the Principal Officer.
• Review Scheme policies and operating guidelines and recommend amendments when required.
• Ensure that regulatory policies and procedures are appropriately documented, implemented and communicated.
• Assist with the preparation and submission of regulatory and statutory information where required.
• Maintain accurate compliance, governance and regulatory records.
• Support investigations into significant compliance or operational matters where required.

Administrator and Service Provider Oversight

• Monitor the performance of the Scheme Administrator and other outsourced service providers against contractual obligations and agreed Service Level Agreements.
• Review financial and operational information received from outsourced service providers to identify potential performance, financial, contractual or compliance concerns.
• Challenge incomplete, inaccurate or unexplained information received from service providers.
• Ensure that concerns regarding service levels or contractual performance are appropriately investigated, documented and escalated.
• Assist with the review of third-party contracts and Service Level Agreements.
• Provide the Principal Officer with relevant analysis and recommendations regarding service-provider performance.
• Develop and maintain constructive but appropriately independent relationships with key outsourced partners.

Board, Committee and Secretariat Support

• Attend meetings of the Board of Trustees and relevant committees as required.
• Assist the Principal Officer in preparing agendas, reports, financial information and supporting documentation for Board and committee meetings.
• Prepare or contribute to reports requested by the Principal Officer, Board or relevant committee.
• Maintain accurate records of meetings and governance proceedings.
• Support the preparation and submission of Scheme Rule Amendments where required.
• Ensure relevant governance actions and deadlines are appropriately tracked and completed.

Marketing and Distribution Oversight

• Provide high-level oversight of the Scheme's outsourced marketing and distribution activities.
• Maintain appropriate working relationships with the Scheme's distribution network.
• Ensure that marketing and distribution activities operate within the Scheme's approved governance and compliance framework and strategy.

Experience required

• Sound governance and exposure in the medical schemes industry.
• Experience in preparing detailed minutes and reports for various audiences.
• At least 5-7 years' relevant work experience on mid-to senior level management.
• Experience in conflict management.
• Experience in financial oversight.

Desired Experience & Qualification

• A relevant Bachelor of Commerce degree or equivalent qualification.
• Financial Management.
• Accounting.
• Business Management.
• Compliance.
• Risk.