Compliance Officer

Purpose:

To perform supervision activities on representatives that are required to be supervised in terms of regulations and ensure the necessary knowledge and skills are transferred for representatives to become fit and proper.

Duties and Responsibilities:

Risk, Regulatory, Prudential & Compliance

• Coach and guide accordingly and ensures that the staff member follows up with the customer in cases where incorrect financial.
• Identify skills gaps and recommends corrective measures to mitigate risk.
• Provide input into internal and external FAIS auditors to provide evidence that the FAIS supervision requirements are adhered to.
• Ensure the fair treatment of clients and take corrective action where client experience disciplines are not adhered to.
• Monitor that staff members are appropriately exposed to render financial services to customers in line with contracting requirements. Where staff members demonstrate insufficient exposure to required financial services, take corrective action to ensure a person is efficiently exposed.
• Create a supervision portfolio of evidence to document all supervision activities. This require reviewing completed documentation prepared by staff member and/or reviewing of conversations with the customer, via recording and/or in person (depending on business unit, i.e. branch or Voice branch).
• Obtain information regarding new appointments from People and Culture and/or line management to determine FAIS supervision requirements for all identified FAIS representatives
• Contract with individuals in terms of their unique FAIS supervision requirements. Contracting includes preparing appropriate deadlines for completing competence requirements in adherence to FAIS regulations (e.g., Regulatory Exam to be completed in 2 years; qualification to be completed in 6 years, experience in line with products sold, etc.).
• Provide input into the FAIS representative register with all the relevant competencies obtained by the representatives through the supervision process.
• Conduct post-transaction sampling and client observations for staff under supervision to ensure that FAIS regulations are adhered to.
• Track and monitor progress towards training data (e.g., Network Next) as it relates to qualification and regulatory exam (RE) and translates this into a meaningful discussion in order to drive the staff member towards attaining the required competence in respect of laid down timelines.

Data

• Review results to produce reports and draws accurate conclusions and recommendations which will enable management to make informed business decisions (e.g., to distinguish between staff competence levels).
• Ensure that supervision evidence and activities are captured on the relevant fit and proper management system.
• Escalate issues that have regulatory implications.

Qualifications and experience:

• Degree in Banking, Business, Commerce or related.
• Regulatory Exam for KI, Regulator Exam for representatives, relevant FAIS qualifications and relevant training for banking and insurance.
• Class of Business Training completed in product categories supervision are performed in.
• 3 - 4 years of experience with Consumer & High Net Worth clients.