Introduction

Most Financial Services Providers are required by law to appoint a FAIS compliance officer.

A compliance officer must meet the following competency standards:

  • RE 1
  • Recognised Compliance Qualification
  • 3 years general experience in risk management or compliance position
  • 1-year industry-specific experience in risk management or compliance position

Compliance and Learning Center (Pty) Ltd allows applicants to work under supervision as a compliance officer to obtain the specific experience requirement for Category I.  In return, the applicant is to provide services for the company.

No remuneration is exchanged between the parties.

Entry requirements

  • RE1 Certificate
  • Recognised Compliance Qualification

Duration of program

The program runs for over 12 months. Participants can enrol in another program, should they require more experience.

Cost to applicant

The applicant is to cover all costs incurred to provide Compliance and Learning Center with the agreed services.

The applicant is to pay the fees to be approved as a phase I compliance officer (R1 600)

The applicant is to pay the fees to be approved as a phase II compliance officer for a specific client if the client is not willing to cover this cost. (R817)

Services to be provided by the applicant

The applicant will be required to deliver the following services over the 12-month period:

  • Provide continuous compliance services to one client of Compliance and Learning Center: Offsite monitoring and reporting – one site visit is required.
  • Drafting compliance policies and procedures for client.
  • Facilitate three FSP licensing applications.
  • Draft four approved compliance blogs.
  • Develop study and support material for two CPD courses.
  • Conduct training sessions on compliance aspects (maximum of 2 sessions).

Terms and conditions

Client allocated to applicant remains the client of Compliance and Learning Centre (Pty) Ltd

The applicant is permitted to onboard their own clients during the mentorship period. The applicant is to pay 20% of the compliance fee to Compliance and Learning Centre (Pty) Ltd for the mentorship rendered in this regard.

Application