Compliance Officer/Manager

 

What does a person in this occupation do?

The importance of compliance requires full-time management in today’s modern enterprise systems. Ensuring that all legislative requirements are met, not only in existing operations, but in all development processes and expansion projects is key to smooth and trouble-free operations. The Compliance Officer needs to manage a difficult and demanding enterprise enablement and has to deal firmly with deadline requirements, non-compliance and related issues across all aspects of the enterprise.

Tasks include:

  • Facilitating the development and maintenance of an effective compliance risk management process.
  • Ensuring that the Board of Directors, management and the employees of a company complies with its outside regulatory requirements e.g. finance and health, and that the company policies and procedures are being followed.
  • Examining the facilities of the company to ensure accessibility and safety.
  • Designing or updating internal policies to mitigate the risk of the company breaking laws and regulations.
  • Advising the Board of Directors, management and the employees on how to maintain compliance.
  • Leading internal audits of procedures in the company.
  • Reviewing and setting standards for outside communications by, for example, requiring disclaimers in emails.
  • Investigating complaints from customers.

 

Personality Traits

You have to have:

  • Good business acumen
  • Ability to handle immense pressure
  • Fast learner
  • Excelent Communication Skills

 

Learning Pathway

BComm (Hons) plus articles

For entry into the learning pathways for this occupation you need one of the following: a National Senior Certificate-Diploma Entrance or a National Senior Certificate – Degree Entrance with Mathematics as a compulsory subject. Please check the specific entry requirements of the institution of your choice.

Many people start their career by studying for an appropriate diploma or degree with a combination of subjects in finance and/or law and get some work experience in an industry before applying for a position as Compliance Officer.

The paths:

  • The first learning pathway for this occupation is a three-year Diploma in Accounting.
  • The second learning pathway entails a four-year Bachelor of Technology Accounting and Finance. A National Diploma or a relevant qualification does not automatically provide admission to the Bachelor of Technology degree. Admission may be subject to additional requirements such as a minimum pass mark in the final year of the National Diploma, proficiency tests, portfolios, experience and interviews.
  • The third learning pathway entails a Bachelor of Accounting (NQF Level 7).
  • The fourth pathway entails a Bachelor of Accounting (NQF Level 8).

The following pathways are concentrated on the field of law:

  • The fifth learning pathway entails a three-year Bachelor’s degree in Law.
  • The sixth learning pathway entails a Bachelor of Procurationis degree (NQF Level 7).
  • The seventh learning pathway entails a four-year Bachelor of Procurationis degree (NQF Level 8).

 

Employment Avenues

  • Insurance companies
  • Banks
  • Building Societies
  • Micro-Lenders
  • Financial Institutions
  • Law Firms/Companies