FAIS Consultant I Contract at IQbusiness

Job Description

• We are looking for a FAIS Consultant to join us on a contract basis within the financial services industry for one of our projects.
• The FAIS Consultant is responsible for supporting the organization’s compliance with the Financial Advisory and Intermediary Services (FAIS) Act, including related legislation, regulatory frameworks, and internal compliance policies.
• The role ensures that all representatives, key individuals, and business units operate within the scope of FAIS requirements through effective monitoring, advice, training, and reporting.

Key Responsibilities and Output Areas Include:
FAIS Compliance Support

• Assist in the implementation, monitoring, and maintenance of the FAIS compliance framework.
• Support the FAIS Compliance Officer with the registration, licensing, and debarment processes of representatives and key individuals.

Advisory and Guidance

• Provide advice to business units on FAIS-related queries, including fit and proper requirements, disclosure obligations, and product categorization.
• Interpret FAIS legislation and communicate practical implications for business operations.
• Assist with FAIS-related audits and prepare documentation for regulatory inspections.

Training and Awareness

• Support the design and delivery of FAIS compliance training to FAIS impacted Staff.
• Promote awareness of FAIS obligations, updates, and industry changes.
• Conduct induction sessions for new representatives on FAIS responsibilities.

Monitoring and Reporting

• Conduct periodic FAIS monitoring reviews and report findings to the Compliance Officer.
• Identify potential breaches, escalate concerns, and assist with remedial action plans.
• Prepare FAIS-related management reports and dashboards for internal governance forums.

Regulatory Liaison

• Keep abreast of regulatory developments, updates, and guidance notes affecting FAIS compliance and assist with performing gap analysis and preparation of implementation of Omni CBR and COFI.

Requirements

• Matric.
• Bachelor’s degree in Law, Compliance, Risk Management, or Financial Services.
• Minimum 2–4 years’ experience in FAIS compliance or a financial services regulatory environment.
• Sound knowledge of the FAIS Act, FICA, COFI Bill, and other relevant legislation.
• Experience with representative and KI registration, FAIS monitoring, or CPD tracking systems is advantageous.
• Strong understanding of FAIS fit and proper requirements.
• Excellent analytical and problem-solving skills.
• Strong written and verbal communication abilities.
• Detail-oriented with high standards of accuracy.
• Ability to manage multiple priorities and meet deadlines.
• Proficiency in MS Office (Excel, Word, PowerPoint) and compliance systems.
• Ethical conduct and professional integrity.