FAIS and Compliance Officer

Financial Services, Gauteng JHB - Northern Suburbs

Market Related -

Purpose

Assist with the facilitation and communication of compliance, noncompliance, Risk to business and line management. Report Monthly, weekly and quarterly in line with Regulatory/Non-Regulatory and Statutory findings, requirements and changes. To monitor and report on Key Risk Indicators. To conduct quarterly audits on compliance and risk. To write and review new processes and workflows

Conduct FAIS supervision for Investments, credit life, long and short term insurance. Monitor DOFA, Registration, deregistration and departmental FAIS updates. Conduct FAIS supervision coaching sessions. Works closely with the Quality Assurance specialist. Monitor, update and create new scorecards.

Key Role Responsibilities:

Embedding of the Group Compliance Strategy

• Implement the Group Compliance Risk Management strategy and framework
• Assist in identifying all relevant laws and regulations pertaining to the activities of the Group and Business Units
• Assist with development of Risk Management Plans
• Provide assistance to Management, Business and Project Teams to adhere to the relevant Group standards, policies and practices

Monitoring and Reporting

• Continuous monitor controls in place in order to provide regulatory risk assurance to business and the Group as per Group compliance standards and format
• Conduct reviews to provide assurance that Internal and External Audit issues are timely addressed and resolved
• Proactively report to Line Management on findings and deficiencies in the controls and recommend corrective action
• Prepare reports on monitoring and report for Line Management
• Ensure all material non-compliance findings are entered into the issues log and assist with monitoring corrective action is taken
• Assist with preparation of monthly and quarterly reports for submission to Line Manager, internal Stakeholders and regulators, as required

Awareness Raising

• Create awareness of legislative requirements
• Conduct presentations
• Conduct compliance training
• Assist with review and sign off training material
• Assist with issuing of compliance alerts
• Assist with identifying and advise the need for training interventions in respect of new or amended laws and regulations

General

• Assist with any other tasks as may be requested in order to promote effectiveness of the Compliance Division
• Maintain high standards of professionalism and dedication

Direct Supervision (Direct Supervision on Financial Services Rendered by Sales Consultant and “Representative Under Supervision” and Which Occurs on A Regular Basis Ranging Between Daily and Weekly)

• Transaction sign off
• Pre- transaction sign- off by a supervisor intermediately if applicable
• Customer follow up
• Make Follow –up calls to Customers after the rendering of financial services by the Supervise and Sales Consultant to confirm certain aspects of the FAIS Act
• Post transaction sampling - Audit
• Perform appropriate post transaction sampling
• Check correctness of documents - If Applicable
• Observe interaction of Supervisee and Sales Consultants with Customers
• Complete supervision checklist and capture result on Peformax ICAB
• Coach Supervisee and Sales Consultant on deficient

On-Going Supervision

• Observe selected meetings between Supervisee, Sales Consultants and Customers

Exercised After the Initial Period of Service Under Direct Supervision and Such Supervision Occurs on at Least Bi-Weekly to Monthly Basis

• Ensure Supervisee and Sales Consultant has a good understanding of and exposure to the categories and subcategories
• Provide financial services Comply with rules & regulations of the FAIS act when doing supervision
• Document evidence
• Have documented evidence, together with Supervisee and Sales Consultant, of the method and frequency of the supervision for period of service under supervision

Customer

• Create and maintain productive relationships with internal and external Clients by providing advice and assistance
• Create understanding of the ‘real’ versus ‘perceived’ need through
• experience and expertise while complying with company polices legislation and regulations
• Keep the Client informed about progress through written communication, telephone communications and face to face meetings
• Build positive image by exceeding Client expectations at all times
• Treat internal and external Customers fairly at all times

Minimum Requirements

• LLB/ BCom RE5 and RE1 Certificate
• LLB/BCom and required Regulatory examination (RE1& RE5) to fulfil the role of a Compliance Officer of the Sales Call Centre
• Long Term and Short Term Insurance Company
• 2-4 Financial Product sales & Customer service experience
• Experience in conducting Supervision, audits, coaching or training
• 2 years of call centre experience
• 2-year experience in a banking compliance and risk, insurance or related regulatory environment
• 1 year of process writing
• 3 years Compliance experience within a Banking, Investment or Insurance environment 1-year intermediary service experience in long-term insurance category A and other Group FAIS licensed products - B1, Savings 1.17 & 1.18
• Deposits less than 12 months and greater than 12 months. Short term insurance experience
• Must maintain Fit & Proper Requirements
• Honesty & Integrity Requirements
• Qualification recognise as per FSB list
• Experience Requirements
• RE Certification

Critical Competencies

• Working knowledge of S.A. Legislation - Banks Act, FICA, FAIS, NCA, CPA, LTIA, STIA
• Work and understanding of the Group Products, Systems, Policies, Process & Procedures
• Monitor and report experience
• Analytical skills
• Communication skills - Verbal and written
• Presentation and facilitation skills
• Persuasive skills
• Attention to detail
• Emotional Intelligence
• Computer literacy - MS Word, Excel
• Performax literacy
• Box Office literacy

Ref: JHB000301/LM

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