Job Title Compliance Administrator
Date Reviewed September 2021
Location Bellville
Employment Permanent

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. Assist the rest of the compliance team with the managing of compliance risk.

Reports to:
Compliance Manager
Subordinates:
N/A
Duties

People
Regular interaction with financial advisors, colleagues and management to ensure the effective delivery of compliance processes and activities
Processes

Supervision agreements process and maintenance
o Responsible for the drafting of supervision agreements as per company template
o Responsible for the implementation of supervision agreements, record keeping and regular monitoring thereof
o Continual communication to respective advisors on supervision

External branch and file 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 Coordinate remote monthly external file monitoring sample together with external compliance office;
o Follow up on external file monitoring audits, keep detailed record of findings, identify training gaps and summarise feedback to advisors. Escalate risks identified to line Manager.

Replacements register monitoring
o Update the replacements register as per the replacement process;
o When conducting audits, check that comprehensive replacement documents as per legislation are submitted and that all other internal compliance documents are being used.
o Give monthly feedback or immediately when adverse findings occur

Fit and Proper
o Conduct and monitor quarterly ITC and provide findings to advisors liaison department and line manager
o Responsible for conducting multiple FSP licence registration checks on advisors monthly as required.
o Class of Business - Liaising with training providers and coordinating the bulk registration. Coordinating and monitoring COB training and requirements.
o Product Specific Training - Coordinating and monitoring PST training and requirements.
o CMS - Record keeping, monitoring and communication with advisors.
o Short Term Insurance Broker fees
o Processing of all profile changes and licencing requirements

Training Co-ordination Projects
o Liaising with training providers and coordination of registrations in respect of Annual FICA awareness training
o Liaising with training providers and coordination of registrations in respect of Annual RMCP training

Reporting
o Accountable for the preparation and submission of monthly, quarterly as well as annual reports/data within own area of responsibility

General
o Responsible for remaining abreast of current affairs as well as regulatory changes and developing implementation plans for affected business areas
o Attendance of regular compliance meetings, reading and training coordination
o Responsible for the resolution of day-to-day compliance queries from advisors as well as other departments within the company and escalating where necessary

Job Evaluation Criteria
Formal Education
Compliance certificate, or related degree in Financial Planning.

Experience:
Three years’ related experience in a compliance function in Financial Services with working knowledge of FICA and FAIS.
Exposure in a financial advisory services provider 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
- Multiple project coordination
- 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.