The Law Society of Namibia (LSN) is a self-regulating body. It was created in terms of the Legal Practitioners Act (1995), which serves the profession and the public, by promoting justice, protecting the independence of the judiciary and upholding the Rule of Law. The Legal Practitioners’ Fidelity Fund is regulated by the Legal Practitioners Act, Act 15 of 1995.
The protection of trust monies held by practitioners in private practice forms an integral part of the protection of the integrity of the legal profession. The Law Society plays a pivotal role in protecting such public funds by assisting firms in complying with the rules and regulations regarding the keeping of trust monies, by providing services to address risk management and by conducting regular inspections to ensure that firms do comply.
The Risk & Compliance Unit reports to the Director, as well as the Council of the LSN and is, inter alia, responsible for ensuring the execution of trust account audits/reviews/inspections in terms of adopted standards and methodologies; assessing risk and compliance; ensuring submission of reports to the Law Society and the Legal Practitioners’ Fidelity Fund in respect of audits/reviews/inspections; reporting to the Director, Council and Board of Control of the Fidelity Fund on a continuing basis with regard to risk/non-compliance/other specific deliverables; ensuring that members of the legal fraternity in all the regions comply with the rules relating to the management of trust accounts; enforcing internal controls procedures at law firms; assisting firms in all areas of compliance with the Legal Practitioners Act (15 of 1995), the Rules of the Law Society and any other legislation that impacts on the legal profession, i.e. Financial Intelligence Act, Competition legislation and the Usury Act; providing in-house training to legal practitioners/law firms on trust accounts and compliance related matters, from time to time and assisting with the development of and adherence of control procedures at legal firms.
VACANCYMANAGER RISK & COMPLIANCE
Key Performance Areas:
- Management of the staff and assets of the RCU.
- Preparation and management of the budget of the unit.
- Conduct reviews on the trust accounts inspections by the inspectors.
- Manage the Inspectors and all their visits to firms.
- Planning the inspections and ensuring that all arrangements related thereto are in place.
- Compile monthly reports on the work and projects of the RCU, including the review/inspection reports, to the Council of the Law Society and the Fidelity Fund Board of Control.
- Ensure that legal practitioners/firms adhere to the “financial” rules of the LSN.
- Prepare regular circulars dealing with matters of interest to the firms and their bookkeepers.
- Development of and adherence to control procedures at legal firms.
- Ensure that firms are assisted in all areas of compliance with the Legal Practitioners Act (15 of 1995), the Rules of the Law Society and any other legislation that impacts on the legal profession, i.e. Financial Intelligence Act, Competition legislation and the Usury Act.
- Have a good understanding and working knowledge of the financial, administrative and operational functions of a typical law firm.
- Negotiate agreements with banks applicable to legal practitioner trust accounts.
- Ensure good corporate governance and compliance.
- Train, mentor and coach subordinates.
- Risk Management/prioritisation of risk in instances of non-compliance detected.
- Prepare affidavits for complaints to be lodged with the Disciplinary Committee.
- Manage stakeholder relationships.
- Advise firms on Professional Indemnity Insurance claims.
- In general advise on insurance requirements and/or claims against Fidelity Fund.
- Ensure that firms are assisted with business development and practice support and provide and/or co-ordinate training to the firms/legal practitioners/bookkeeping staff.
- Identify training needs for practising legal practitioners.
- Conduct special investigations as required and draft forensic inspection reports for use in court proceedings and/or disciplinary hearings.
- Manage the invoicing and levying of fees payable in respect of the reviews /inspections/penalties and audit refunds.
- Report on strategic information relating to trust account balances, interest earned and bank charges on an on-going basis.
- Ensure that inspectors verify information during the review/inspection.
- Develop and improve ‘service level agreements’/operational manuals/time sheets/reports/annual internal trust inspections at firms.
- Providing the Director with the necessary information regarding the firm’s trust accounts and audit reports to enable her to consider the issuing of fidelity fund certificates.
- A dedicated and hard worker;
- Impeccable integrity;
- High self esteem;
- Exceptional inclination for customer service;
- Must have the drive to make a difference;
- A drive to teach and improve the skills of others;
- Be able to comply with strict deadlines;
- Knowledge of the Legal Practitioners Act and the Rules of the Law Society.
- Fully computer literate.
- Valid driver’s license.
- Namibian citizen.
- B.Comm (Accounting) / B.Comm (Law) degree or equivalent qualification with a minimum of 3-years bookkeeping, and compliance management experience.
- Auditing experience will be an advantage.
Interested individuals should address their application and CV to:
The Law Society of Namibia
1st Floor, Namlex Chambers
333 Independence Avenue
- Only suitably qualified applicants will be considered for shortlisting.
- No documents will be kept or returned.
Closing Date: Monday, 18 April 2016