Regulatory Conformance Specialist
MAIN PURPOSE<\/b>
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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.
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<\/span><\/span>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.
<\/span><\/span>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.<\/span><\/span><\/div>
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 <\/b>
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<\/span><\/span>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.
<\/span><\/span>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.<\/span><\/span><\/div>
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 <\/b>
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Compliance and Oversight<\/span><\/span><\/b><\/b>
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- Ensuring that Staff are compliant with requirements of DIRECT OVERSIGHT sales practices, including compliance with scripts and declarations required to be used in stores. <\/span><\/span>
<\/span><\/li>- 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). <\/span><\/span>
<\/span><\/li>- Reporting on compliance with DIRECT OVERSIGHT sales practices for review in both Key Individual Forum and Sales Control Forum. <\/span><\/span>
<\/span><\/li>- Reviews relevant customer complaints and submits findings and recommendations in line with treating\-customer\-fairly (TCF) standards. <\/span><\/span>
<\/span><\/li>- Reviews controls and in\-store process in region and reports on failures. <\/span><\/span>
<\/span><\/li>- Signs of compliance reports relating to relevant administrative elements of FAIS (such as display of licence etc.)<\/span><\/span><\/span><\/span>
<\/li>- \u200b<\/span><\/span>Ensure that stores comply with all regulatory requirements and acts (POPIA, TCF, FAIS, NCA, Long term insurance etc.).<\/span><\/span> <\/span><\/span><\/b><\/b>
<\/span><\/span><\/li><\/ul>Honesty, Integrity and Good standing (HIGS)<\/span><\/span><\/b><\/b>
<\/div>- Work with HR and Operations to ensure compliance with all necessary attestations for store portfolio. <\/span><\/span>
<\/span><\/li>- Provide input and guidance into performance management and ER processes related to all regulations, in particular disciplinary processes. Sign off as necessary. <\/span><\/span>
<\/span><\/li>- Investigate non\-compliance and risk\-events relevant to various regulations and feedback to accountable KI and KI forum.<\/span><\/span>
<\/span><\/li><\/ul>Competence Requirements & Continuous Professional Development<\/span><\/span><\/b><\/b>
<\/div>- Work with HR and Operations to ensure that all competence requirements in respect of FAIS are met, relative to oversight model requirement. <\/span><\/span>
<\/span><\/li>- Ensure that Supervisors are conducting necessary supervision, with the correct level of quality. <\/span><\/span>
<\/span><\/li>- Assists in building competence within region by delivering appropriate training forums and programmes in line with channel objectives and framework. Works will all stakeholders to deliver training plans relevant for FAIS, including continuous professional development takes place. <\/span><\/span>
<\/span><\/li><\/ul>Sales Practices<\/span><\/span><\/b><\/b>
<\/div>- Ensures staff is complaint with store\-control metrics and that risk is mitigated. <\/span><\/span>
<\/span><\/li>- Evaluates selling practices through audit and review of sales (live) and reports into various forums.<\/span><\/span>
<\/span><\/li>- Investigates particular cases of concern or risk events. <\/span><\/span>
<\/span><\/li>- Conducts ad\-hoc audits and reviews as necessary, relevant to areas of concern raised in the all forums. Collates feedback for review. <\/span><\/span>
<\/span><\/li><\/ul>Chairperson<\/span><\/span><\/b><\/b>
<\/div>- Chairperson of various Steering committees (KI Forum, ER Forum, SCF, CCCF, TL ER Consistency, Disciplinary Hearings). <\/span><\/span>
<\/span><\/li><\/ul>Compliance Reporting<\/span><\/span><\/b><\/b>
<\/div>- Ensure that all relevant deadlines and compliance reports are submitted in accordance with reporting standards.<\/span><\/span>
<\/span><\/li>- Attends and provides input into KI forum.<\/span><\/span>
<\/span><\/li><\/ul>Compliance Framework Development<\/span><\/span><\/b><\/b>
<\/div>- Assists in identifying gaps and opportunities to improve compliance / risk framework(s)<\/span><\/span>
<\/span><\/li>- Develops solutions and recommends processes in response to legislative changes or compliance gaps<\/span><\/span>
<\/span><\/li><\/ul>Stakeholder Management<\/span><\/span><\/b><\/b>
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<\/span><\/span><\/b><\/b>Training Development<\/span><\/span><\/b><\/b><\/div>- Assist with the designing of Product and Compliance training guides (Content /Curriculum design).Provide virtual and face to face training on Product and Compliance .Support the team on all system related queries.<\/span><\/span>
<\/span><\/li><\/ul>Audit Requirements<\/span><\/span><\/b><\/b><\/div>- Conduct related Audits (e.g. Service, Compliance, Covid 19, Behaviour etc.) In\-store/ call centre audits and inspections to include observation of the sales process and reporting thereof, in according with reporting requirements and templates<\/span><\/span>
<\/span><\/li><\/ul>Project Management <\/span><\/span><\/b><\/b><\/div>- Create Key Risk Indicators (KRI) for all upcoming projects. Lead/Manage/Coordinate various projects. Make use of CRMP\- Compliance Risk Management Plan/Compliance Governance Framework in aiding the business in all compliance matters.<\/span><\/span>
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<\/div><\/span>Requirements<\/h3>
KEY COMPETENCIES <\/b>
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<\/div>TECHNICAL COMPETENCIES<\/span><\/span><\/b><\/b>
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<\/div>- Financial Services Industry Knowledge <\/span><\/span>
<\/span><\/li>- WFS Market Knowledge <\/span><\/span>
<\/span><\/li>- Business Architecture <\/span><\/span>
<\/span><\/li>- Information Technology <\/span><\/span>
<\/span><\/li>- Business Process Design <\/span><\/span>
<\/span><\/li>- Contact Centre Systems, Technologies and Processes <\/span><\/span>
<\/span><\/li>- Solution/Application Testing<\/span><\/span>
<\/span><\/li>- Systems Analysis <\/span><\/span>
<\/span><\/li><\/ul> - WFS Market Knowledge <\/span><\/span>
- Financial Services Industry Knowledge <\/span><\/span>
- Create Key Risk Indicators (KRI) for all upcoming projects. Lead/Manage/Coordinate various projects. Make use of CRMP\- Compliance Risk Management Plan/Compliance Governance Framework in aiding the business in all compliance matters.<\/span><\/span>
- Conduct related Audits (e.g. Service, Compliance, Covid 19, Behaviour etc.) In\-store/ call centre audits and inspections to include observation of the sales process and reporting thereof, in according with reporting requirements and templates<\/span><\/span>
- Develops solutions and recommends processes in response to legislative changes or compliance gaps<\/span><\/span>
- Attends and provides input into KI forum.<\/span><\/span>
- Ensure that all relevant deadlines and compliance reports are submitted in accordance with reporting standards.<\/span><\/span>
- Evaluates selling practices through audit and review of sales (live) and reports into various forums.<\/span><\/span>
- Ensure that Supervisors are conducting necessary supervision, with the correct level of quality. <\/span><\/span>
- Provide input and guidance into performance management and ER processes related to all regulations, in particular disciplinary processes. Sign off as necessary. <\/span><\/span>
- 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). <\/span><\/span>