StatComp Services (Pty) Limited ‘Simplifying Compliance’ An Introduction 16 August 2011
Transcript
StatComp Services (Pty) Limited
Simplifying Compliance
An Introduction
16 August 2011
StatComp Services Pty Limited
25 July 2011
Background
Established in 2011 to meet a need in the SME market:
- The Private Sector have more and more rules to comply with.
There is an increase in compliance and administrative
burdens.
New and updated legislation requires immediate implementation
and monitoring.
Statutory, compliance and risk management services are required
by most companies and SMEs.
-Administration, scanning, filing and recordkeeping is part of the
process and often creates burdens for companies.
Vision & Mission
Vision:
To establish StatComp as one of the preferred compliance
Outsource Service Providers (OSP) in the industry.
Mission:
To employ and empower qualified and competent staff
who provide quality service and in turn ensure that all client
needs
are identified and that positive returns are delivered to all
clients and
stakeholders.
Concept
Serving Close Corporations, Companies and Trusts offering the
following:
Statutory and regulatory compliance services.
Operational risk management services.
A platform to ensure and support general business compliance.
Offering the design of administrative processes and
procedures.
Deployment of state of the art technology.
Recordkeeping solutions, includes scanning, filing and
printing.
Knowledge sharing and training.
Application and training of appropriate legislation, i.e. POPI
& CPA.
Access to a range of services, information and updates.
Statutory Compliance Services
StatComp Services was established in 2011 to meet a need in the SME
market for comprehensive statutory and compliance services. The
services are tailored to meet the growing compliance needs
of small and medium size businesses.
Regulatory Compliance Services
Operational Risk Management Services
Statutory Compliance Offering
Registration and maintenance of Close Corporations, Companies and
Trusts.
Compilation and maintenance of the necessary documentation.
Ensuring compliance with all the CIPC requirements.
Full administration services.
State of the art filing, scanning and recordkeeping
solutions.
Financial and Bookkeeping Services.
Application of market conduct requirements.
Monitoring of Compliance standards.
Training and up skilling.
Regulatory Compliance Offering
The compliance function is an independent oversight function.
Market conduct legislation requires adherence to rules and
procedures.
Business is often too focused on growth (or survival) with limited
focus on
compliance.
4StatComp will provide guidance and tools to help facilitate
compliance.
This offer consists of the following:
- Ensure compliance obligations are understood.
- Ongoing support in all existing and new compliance matters, i.e.
FAIS Act.
- Develop compliance manuals and provide training.
- Perform annual compliance audits.
- Report and monitor regulatory breaches.
- Develop action plans for the mitigation of breaches.
Key Deliverables
Operational Risk Management Offering
1.Operational Risk Management (ORM) is traditionally managed
informally.
2.Employees often do not realizing that its part of their daily
tasks.
3.ORM issues are addressed through audit and compliance
functions.
4.This episodic approach often results in operational risks only
being identified at a later stage.
5.StatComp will assist clients in addressing operational risks more
effectively.
6. This entire process is dependant on self assessments, annual
reviews, audits,
reporting and monitoring.
7. Legislation affecting ORM::
- Basel II: prescribes the standards for ORM for Banks.
- Solvency II: prescribes the standards for ORM for
Insurance.
- King III, CPA, Companies Act and FICA.
Key Deliverables
Target Market
Offering a range of services focusing on the SME Market:
- Small businesses: less than 100 employees; and
- Medium-sized business: less than 500 employees.
Client Types and Industries:
Lawyers;
Accountants;
Audit Firms;
Financial Services Providers (FSPs);
Brokers; and
Training Providers.
The Benefits
The team at StatComp has the
necessary operational, business,
compliance and risk management
experience.
Will recommend effective
solutions to the challenges that
clients may face in a dynamic,
changing business environment.
Planning with clients to create an
effective working relationship.
The Commitment
Understand the needs and services required.
Propose effective solutions and agree the rules-of
engagement.
Establish legislative and compliance requirements.
Review maintenance of statutory records and provide
solutions.
Ensure efficient processes of statutory compliance and or
formalities.
Provide technical assistance and best practice.
Provide training if and where required.
Establish processes for ongoing monitoring of compliance.
Review Corporate Governance requirements.
Continuous liaison with Management & Auditors.
Competitive Advantage
Statutory compliance outsourcing services, is a trend gaining
momentum.
The services are designed as life saving elements for
business.
Do not adopt an arms-length approach, but provide practical
hands-on advice and interventions.
Remain focused means the team can consistently deliver quality work
by:
- Employing qualified and trained staff.
- Deploying and using the latest technology.
- Ensure adherence to all regulatory & compliance
requirements.
- Effective strategic and operational planning.
- State of the art filing and recordkeeping systems.
- Subscribing to good Corporate Governance at all levels.
- Regular reporting at management and executive levels.
The StatComp Team
Marc Haldane has .
Elzabe Opperman has more than 20 years working experience in the
banking and insurance industries, working in the fields of Direct
and Corporate Marketing. In the last 7 years Elzabe gained
significant experience
in the fields of Operational Risk Management and Regulatory
Compliance not only in South Africa, but Kenya and Uganda as well.
She holds an Honors Degree in Industrial Sociology and a Diploma in
Labor Law.
Adri Grobler has worked in the banking and wider financial services
industry for the past 25 years. Adri has
developed training material on a wide range of topics (FAIS, NCA,
CPA, Compliance and Risk Management)
and is a regular conference speaker on these topics. Adri consults
to banks and insurance companies on
creating infrastructures to meet the increasing legislative
compliance requirements. She holds a Biuris LLB
degree.
Our Service Promise
Our only priority is to deliver the highest quality of service
to clients.
Whether it is assistance with statutory compliance, or help to
identify regulatory
compliance obligations or do an operational risk assessment,
StatComp is committed
to make each client experience the best it can be.
It is recognized that a reputation for excellence must be
earned every day; and as a
result, StatComp has created and implemented a Client Service
Promise:
1. Be accessible and responsive.
2. Keep clients informed.
3. Know and understand each clients business.
4. Always consider the client budget.
5. Provide excellent client service at all times.