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  • Risk Management - Guide to Essential Procedures
     
  • Risk Management Procedures Manual
     

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Guide to the 2011 Compliance Report for Category 1 providers with a compliance officer

This Guide deals in detail with every question in the Report and contains all the information needed to complete the 2011 Compliance Report. 

Written for Compliance Officers of Category I Financial Services Providers with reporting periods ending 31st May 2011

The Guide can be purchased and downloaded in PDF format.

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Guide to the 2010 Compliance Report for Category 1 providers without a compliance officer

This Guide deals in detail with every question in the Report and contains all the information needed to complete the 2010 Compliance Report. 

The Guide is written for Category I Financial Services Providers without compliance officers with reporting periods ending 31st December 2010

The Guide can be purchased and downloaded in PDF format.

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Risk Management Procedures for Category I providers

The FAIS Division of the FSB has conducted a series of Theme Visits over the last two years and has published their findings in a number of Newsletters and in correspondence that was sent to all providers.

FSB officials have expressed their concern that only 38% of the FSPs reviewed actually had risk management plans in place.

This, they say, creates a situation where FSPs do not diligently manage the risk inherent in doing business. Moreover, the implementation of a risk management process is a requirement in terms of section 12 of the General Code of Conduct.

The FSB expects every financial services provider to be able to demonstrate a risk management plan that spells out all the potential risks faced by the institution. The plan must also prescribe the procedures to be followed in order to mitigate or manage these risks.

The existence or otherwise of a risk management plan is now an issue that is queried in the 2009 Compliance Report for Category I providers. Question 8.6.2 in both Compliance Reports (with and without a Compliance Officer) asks "Does the FSP have a documented Risk Management Plan?"

With these issues in mind, CMS has produced a Guide to the Required Procedures and a companion Risk Management Procedures Manual.


Risk Management - Guide to Essential Procedures

This Guide contains a short introduction that explains the need for a compliance function and the consequences of not attending to this requirement.

The Guide then sets out a brief description and explanation of every important procedure that must be implemented by all Category I providers. The explanation provides a reference to the actual section of the FAIS Act, General Code of Conduct or Regulation as the case may be, thus enabling the provider to investigate the matter in depth should this be necessary.

The Guide also contains a clear indication of those procedures that carry criminal sanctions or penalties for non-compliance. Some requirements carry both criminal sanctions and a provision for penalties to be levied should there be non-compliance with the regulation.

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Click here to view Sample Pages

The Guide has a detailed Table of Contents to ensure that reference to any section is as easy as possible. (View Table of Contents) at applies to that specific provider. This MSWord document can then become the providers actual procedures manual; it can be updated, varied and added to at any time and is a dynamic document.

This Manual thus provides you with a method of complying with the second of the FSB's requirements: it prescribes the procedures to be followed in order to mitigate or manage compliance risks.

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Risk Management Procedures Manual

CMS has also produced a companion Risk Management Procedures Manual.

This Manual provides a simplified risk management process for providers and has been structured in such a manner as to ensure that all the elements of the risk management plan have been included as they apply to each procedure.

This Manual is delivered as an MS Word version document that has been specially formatted to allow the user to insert his own procedures and process details under each individual procedure that applies to that specific provider. (View sample pages)

This MS Word document can then become the provider's actual procedures manual and can be updated, varied and added to at any time.

This Manual thus provides you with a method of complying with the second of the FSB's requirements: it prescribes the procedures to be followed in order to mitigate or manage compliance risks.

This Guide can be purchased and will be emailed to you immediately.

Click here to Order