Managing regulatory risk is imperative in our current business environment: we have recently seen the impact of the Financial Intelligence Centre Amendment Act (FICA) on businesses in South Africa.

Compliance and risk management includes analysing legislation such as FICA to identify the regulatory requirements which must be complied with, and developing controls to mitigate that risk. These controls can be linked to people, processes and systems. Services relating to compliance and risk management include drafting internal rules, training staff and conducting ongoing monitoring of compliance with these controls.

Carmen can assist with:

• Analysing the legislation / laws that apply to your business
• Identifying the requirements that apply to your business
• Developing controls to assist your business in complying with these requirements
• Training your staff on their obligations
• Monitoring your business to determine status of compliance
• Reporting to your management team
• Liaising with Regulators

Carmen currently acts in the following capacities:

• Money Laundering Control Officer
• FAIS Compliance Officer

Contact Carmen to help you align your business to best practices.