Compliance Monitoring Administrator
Efficient Wealth

Purpose statement
Responsible for the effective planning, control and execution of file monitoring as well as the coordination of external branch reviews to ensure the company complies with regulatory requirements and internal policies and assist the rest of the compliance team with the managing of compliance risk.

Reports to: Head of Legal and Compliance

Duties
o People - Regular interaction with financial advisors, colleagues and management to ensure the effective delivery of compliance processes and activities
o Processes
o Internal audits/monitoring
o Compile and deliver on annual internal file monitoring schedule as per monitoring methodology;
o Conduct monitoring as per plan and risk rate financial advisors; accordingly. Audit includes quality of file and advice given;
o Transfer risk rating to audit sheet and update HOD weekly;
o Feedback communicated to financial advisor and high risks escalated to HOD;
o Change advisor risk rating classification on monitoring schedule as per audit result and amend audit frequency as per risk rating.

o External branch monitoring
o Compile and coordinate annual external audit schedule together with external compliance office;
o Send schedule to external compliance officers for approval and sign-off;
o Ensure that all participants are informed well in advance of the audit via calendar invite (when schedule is finalised), email (1 month prior) and telephonic reminder (1 week prior);
o Follow up on external audit feedback;
o Summarise feedback received and escalate risks identified to HOD;
o Risk process and mitigation controls to be discussed, implemented and managed.

o Replacements register monitoring
o Update the replacements register as per the replacement’s inbox;
o When conducting audits, check that replacement documents are submitted.

o Representative management
o Monitor compliance with existing supervision agreements and identify areas of non-compliance;
o Assisting with the updating and maintenance of the representative register;
o Providing compliance packs to new advisors and ensure that they are familiar with the procedure;
o Ensuring that compliance documentation is updated and published on the Wealth Portal.


Formal Education
Compliance certificate, or related degree in Financial Planning.
Regulatory examination for representatives. (beneficial)

Experience:
Three years’ related experience in a compliance function in Financial Services with working knowledge of FICA and FAIS. Experience in a financial advisory capacity will be beneficial.

Critical Competencies Knowledge
- FAIS Act
- Compliance processes
- FICA and related Acts
- TCF
- Administration
- Technological: Ms Office
- Bilingual (fluent in English and Afrikaans)
- Professional service delivery Skills
- Planning and execution
- Process Driven
- Ability to apply facts to the rules and regulations
- Risk assessment capabilities
- Attention to detail
- Methodical
- Highly organized
- Dependable
- Written and verbal communication skills

Only short-listed candidates will be contacted.