This competency refers to the ability to maintain compliance with legal and regulatory requirements. The scope includes developing and implementing compliance programmes and providing compliance advisory to the business.
Level 1 - Awareness
• Identify the compliance requirements applicable to the business.
• Recognise the importance of compliance monitoring.
• Recognise compliance issues, breaches and violations.
Level 2 - Knowledge
• Outline the compliance programme applicable to own tasks and activities.
• Identify the roles and responsibilities for compliance in the organisation.
• Seek guidance and draw attention to incidences that could lead to compliance breaches and violations.
Level 3 - Skill
• Develop and implement programme to minimise the compliance risks identified in the business.
• Monitor compliance and report any violation in accordance with the established compliance monitoring programme.
• Contribute to the design and development of compliance-related training modules.
• Review and propose actions to ensure compliance with the various requirements.
Level 4 - Mastery
• Analyse the impact of changes in compliance requirements on the existing compliance programme.
• Review incidences of compliance breaches and recommend improvements to business practices to avoid recurrence.
• Plan and deliver training programmes to build compliance capability and culture within the organisation.
• Engage with regulator and contribute to industry consultation on compliance matters.
Level 5 - Expert
• Anticipate changes to the business environment and provide strategic direction for compliance programme.
• Determine measures of effective compliance monitoring and control for processes at organisation level.
• Develop business culture that promotes compliance and investor protection practices.