Senior Legal Counsel – Discovery Corporate & Employee Benefits | High-Paying Legal Jobs in Johannesburg
Company: Discovery
Location: Sandton, Johannesburg, Gauteng
Business Unit: Discovery Corporate & Employee Benefits
Function: Legal Affairs
Date Posted: 10 May 2025
Contract Type: Permanent
Application Closing Date: 31 May 2025
About Discovery
Discovery is a leading South African institution with a core purpose to make people healthier and to enhance and protect their lives. We are a global leader in shared value insurance models and an employer that embraces innovation, agility, and smart thinking. Discovery’s work culture empowers high-performing professionals to contribute meaningfully while building exceptional careers.
About Discovery Corporate & Employee Benefits
Discovery Corporate and Employee Benefits is transforming how companies support employee wellbeing and financial security. As the only provider that actively shapes employee behaviour, we deliver innovative solutions for retirement savings, group life insurance, and investment products, creating healthier, wealthier workforces across South Africa.
Role Overview: Senior Legal Counsel
The Senior Legal Counsel plays a pivotal role in ensuring legal and regulatory oversight within Discovery’s Employee Benefits and Invest business units. This includes advising on legal aspects of umbrella and retail retirement funds, group risk products, and investments. The role is responsible for identifying and mitigating legal risks, supporting implementation of legislation, resolving disputes, and drafting contracts relevant to collective investment schemes and group insurance. You will also provide counsel to fund administrators, trustees, and principal officers while ensuring compliance with the ever-evolving financial regulatory landscape.
Key Responsibilities
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Provide legal advice and oversight across the retirement funds, investment platforms, and group risk portfolios
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Draft and negotiate legal documents, including fund rules, policy documents, SLAs, custodian agreements, and contracts for collective investment schemes
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Represent Discovery at industry regulatory bodies and working groups, offering input on pending legislation and compliance requirements
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Handle litigation and dispute resolution matters involving the Pension Funds Adjudicator, Financial Services Tribunal, and the Ombudsman for Long-Term Insurance
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Lead and mentor junior legal team members and service consultants on fund governance, complaints, and legal drafting
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Interpret and implement laws such as the Pension Funds Act, Insurance Act, Income Tax Act, Collective Investment Schemes Control Act, and more
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Review marketing materials and fund communications to ensure alignment with legal standards
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Advise business on applying new legislation and regulatory frameworks to operational processes
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Prepare regulatory submissions and coordinate reporting to the Financial Sector Conduct Authority (FSCA)
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Support trustees and principal officers of the Discovery umbrella funds with regular legal updates and board packs
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Conduct legal research, write guidance notes, and develop internal best practice frameworks
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Manage the legal risk register and participate in strategic planning across business units
Education and Experience
Essential:
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Matric certificate
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Bachelor of Laws (LLB)
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8+ years’ experience in financial services, particularly in employee benefits, insurance, investments, or group risk
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Strong working knowledge of:
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Pension Funds Act
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Financial Sector Regulation Act
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Long-Term Insurance Act
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Income Tax Act
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Policyholder Protection Rules
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Collective Investment Scheme legislation
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Advantageous:
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Postgraduate qualification in Financial Services or Insurance Law
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Admitted attorney with litigation experience
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Experience with Group Risk Insurance and retirement fund governance
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Familiarity with King IV corporate governance principles
Personal Attributes and Competencies
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Strong analytical and legal research skills
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Excellent verbal and written communication
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Ability to handle complex legal documentation and compliance frameworks
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Customer-focused and solutions-oriented
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Resilient under pressure and able to manage deadlines
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Strong team collaboration and mentoring ability
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High attention to detail and professional judgment
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Integrity, independence, and adaptability
What Discovery Offers
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Exposure to high-level legal strategy in one of South Africa’s most innovative employee benefits units
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Professional growth through industry participation, leadership mentoring, and regulatory involvement
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Competitive compensation and career advancement in a forward-thinking organization
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A collaborative work environment where innovation and purpose intersect
Employment Equity Statement
Discovery is committed to diversity and inclusion. The company’s approved Employment Equity Plan and Targets will guide this recruitment process. As an Equal Opportunities employer, we encourage individuals living with disabilities to apply.
How to Apply
To apply for the Senior Legal Counsel role, submit your detailed CV via the official Discovery Careers portal by 31 May 2025. Only shortlisted candidates will be contacted.
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