Compliance
Competency Title:
Compliance
Competency Type:
Functional
Competency Description
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
Level 1
• Identify the compliance requirements applicable to the business.
• Recognise the importance of compliance monitoring.
• Recognise compliance issues, breaches and violations.
Level 2 - Knowledge
Level 2
• 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
Level 3
• 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
Level 4
• 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
Level 5
• 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.