Compliance FAIS Supervisor
Randburg, Gauteng, ZA
3d ago

Business Unit : Operations

Location : Ferndale, Randburg

Direct Report : General Manager

Indirect Report / s : Managing Director and Chief Executive Officer

Job Purpose :

Proactively address factors that expose the organisation to any reputational damage, professional liability and / or non-compliant business activities by enhancing staff members operational skills and knowledge through communication, counseling and coaching interventions.

Plan, implement and monitor Compliance Performance Standards (CPS) within the business and independent franchisees. The implementation of CPS must meet the organisation’s implicit obligations in adherence to the FAIS legislations and the Continuous Professional Development of staff members as mandated from the FSCA.

Provide each staff member with effective learning resources to acquire the mandatory qualifications within the legislated timeframes.

CPS must enhance direct & ongoing supervision activities, drive awareness of the CPS, Fit & Proper requirements and the Organisation’s Professional Standards.

Tasks and responsibilities include but not limited to :

  • Add new members onto the FSCA Central Rep Register when a new member is employed or contracted
  • Ensure new members are registered on the right licenses numbers and on the right FSCA Categories
  • Identify and list staff members who did not pass the FSCA Regulatory Exam for Representatives and their Date Of First Appointment (DOFA) is more than eighteen (18) months ago
  • Identify and list staff members without fully FAIS accredited qualifications and their Date Of First Appointment (DOFA) is more than fifty-four (54) months ago
  • Plan and coordinate monthly supervision schedules with management :
  • Ongoing supervision
  • Direct supervision
  • Plan exam and qualification timetables with staff members who are not fully qualified as yet
  • Document and conduct skills gap training and coaching sessions with allocated staff members
  • Update the ongoing and direct supervision staff list spreadsheet
  • Remove members from the FSCA Central Register on termination of their contract by resignation or disqualification
  • Initiate debarment procedures for members who transgress fit & proper rules and regulations while registered under the company’s FSP license
  • Identify failures in the following performance areas handled by staff members :
  • Sound Financial Product knowledge
  • Financial Needs Analysis
  • Communication of value and benefits with clients
  • Disclosure of all costs to clients and exclusions
  • Telephone etiquette
  • Empathy
  • Tone of voice
  • Observe, analyse and determine learning outcomes for allocated staff members
  • Combine and collaborate existing & new e-learning material with traditional learning material to enhance knowledge and learning content
  • Comple, capture and customise learning material onto an online Information Management System (Moodle) to achieve effective E-Learning capabilities
  • Compare indicators of actual performance against overall learning department’s objectives
  • Actively encouraging, mentoring, coaching, and supervising employees to promote compliant behaviour.
  • Formally raising with staff members any inadequacies needed to achieve compliance
  • Escalate staff members with continuous performance failures to management
  • Create a shared Supervision Information Dashboard with Key Performance Indicators
  • Research and implement programmes to address failures :
  • Preventative learning programmes
  • Recovery learning programmes
  • Accountable for Supervision Document System controls :
  • DOFA Reports
  • Section S13 Certificate
  • Coaching & Counselling
  • Identity document
  • Qualifications
  • Background checks (Criminal & ITC)
  • Coaching documents
  • Counseling documents
  • Employee and Franchisee contracts
  • Actively participating in the management and resolution of compliance related incidents and issues.
  • Education

  • Higher Certificate in Short Term Insurance (NQF Level 5)
  • Passed FSCA Regulatory Exam for Representatives
  • Advantageous :
  • NQF Level 6 (or higher) qualification in Risk Management
  • Experience

  • 5 years of experience within a Short-Term Insurance brokerage firm
  • 3 years of experience in a Sales Team Leader, Training or Supervisory role
  • Skills

  • Communication (Verbal & Written)
  • Interpersonal
  • Intrapersonal
  • Coaching, Training & Mentoring - Transfer skills
  • Presentation
  • Conflict resolution
  • Computer literate (MS Office Suite & G-Suite)
  • Report writing
  • Critical thinking
  • Creative thinking
  • Knowledge

  • Insurance, FAIS, POPI, KYC & TCF Acts
  • Comprehensive Personal-Line and Commercial-Line insurance policy wordings
  • Multiple Short Term Insurer product wordings
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