Regulatory Conformance Specialist
- Compensation
- Not disclosed
- Location
- Cape Town, South Africa
- Work setup
- Not specified
- Seniority
- Not specified
- Employment
- Not specified
- Experience
- 1+ years
- Category
- Not specified
- Posted
Skills
Must have
- Financial Services Industry Knowledge
- WFS Market Knowledge
- Business Architecture
- Information Technology
- Business Process Design
- Contact Centre Systems, Technologies and Processes
- Solution/Application Testing
- Systems Analysis
- Qualifications listed on the FSCA list of qualifications. Regulatory Exam certification (RE 1). The relevant Class of Business certificate (Long Term Insurance) .Be in a position to be registered as a
- Compliance qualifications is beneficial
- CISA registration/ CProf or CPrac (SA) designation is advantageous
- 3 - 5 years relevant experience (Including 1 year management/oversight experience).
- Project management experience beneficial
Full description
MAIN PURPOSE
The Regulatory Conformance Specialist (RCS) acts as a Operational Compliance Specialist for the Stores/Call Centre channel and in addition is accountable as a KI (as defined by the FAIS) for ensuring compliance with the all regulations for the Stores/Call Centre.
The RCS is an active participant in the KI framework/forum as well as other forums of WFS and acts to ensure that relevant Compliance requirements are implemented successfully.
Practically the RCS will fulfill certain defined tasks which will involve, inter alia, travelling to stores and conducting reviews and audits, spending time with Store/Call Centre staff in the live environment supervising activities and completing reports that roll-up within a broader Stores/Call Centre compliance view.
More generally the RCS is also tasked with managing general sales-practice risk and acts to aid in ensuring values-based selling in Stores/Call Centre.
The role has both a review and remediate objective and will involve taking action to remedy compliance failure and mitigate compliance risk.
The RCS must meet, and maintain the requirements of a FAIS KI with respect to the relevant product categories (Experience, education and HIGS) and keep current will all relevant legislations (CPD).
KEY RESPONSIBILITIES Compliance and Oversight
- Ensuring that Staff are compliant with requirements of DIRECT OVERSIGHT sales practices, including compliance with scripts and declarations required to be used in stores.
- Evaluate evidence of compliance, including reviewing customer feedback via Voice-of-customer as well as conducting direct communication with customers where appropriate (i.e. telephonic interviews with customers).
- Reporting on compliance with DIRECT OVERSIGHT sales practices for review in both Key Individual Forum and Sales Control Forum.
- Reviews relevant customer complaints and submits findings and recommendations in line with treating-customer-fairly (TCF) standards.
- Reviews controls and in-store process in region and reports on failures.
- Signs of compliance reports relating to relevant administrative elements of FAIS (such as display of licence etc.)
- Ensure that stores comply with all regulatory requirements and acts (POPIA, TCF, FAIS, NCA, Long term insurance etc.).
Honesty, Integrity and Good standing (HIGS)
- Work with HR and Operations to ensure compliance with all necessary attestations for store portfolio.
- Provide input and guidance into performance management and ER processes related to all regulations, in particular disciplinary processes. Sign off as necessary.