Oracle Compliance had been formed back in the year 2004 which was actually in response to the enactment of the Financial Advisory and Intermediary Services Act (FAIS) as well as the Financial Intelligence Centre Act (FICA). This was as well a result of the constantly growing need towards the numerous Corporate Governance principles along with the multiple practices which necessitate a much greater need by the public. And also by the private companies to implement the various Risk Management procedures.
Oracle Compliance has been committed to the Financial Sector Charter. In addition to this, the executive directors and the management of the concerned company have also been fully qualified and in turn, accredited by the deemed Financial Services Board of South Africa as the necessary FAIS Compliance Officers.
What are the services provided by Oracle Compliance?
Oracle compliance tends to make your everyday processes a lot simpler by looking forward to offering a rather integrated and indeed comprehensive risk-based approach to manage the concerned compliance. The services include:
● Risk-Based Practice Assessment
As the usual regulatory landscape has continued to shift and in turn grow in complexity, in turn, the multiple financial services providers have been left in a particular web of the legislative requirements using which they would be required to navigate.
● Implementation
The team is usually personally experienced with the multiple dealings of all the concerned elements of the various project management, and in turn might either act as particularly guides towards implementing the concerned clients’ risk management plan, or maybe to carry forward the execution of any necessary specific elements as.
● Monitoring
Being able to develop a compliance culture in any organization has been very vital to a rather effective compliance function. It has therefore been quite imperative to develop a quite effective, going, and necessarily well-documented required monitoring program.
● Reporting
This service tends to help you in achieving and maintaining your compliance by the act of conducting efficient and regular onsite assessments, by the help of producing reports, and also by recommending multiple revisions on the practices wherever necessary, by regularly reviewing the risk management plan, and also by completing and by submitting the required FSB compliance reports.
What is the specialist support provided by Oracle Compliance?
Oracle Compliance usually advises all the primary Financial Services Providers on the concerning Risk Management procedures along with keeping regarding the Regulatory Risk. This has in turn worked towards encapsulating both the legal and the reputational elements which have been presented by the clients’ legislative and their regulatory universe.
What is the main specialization of Oracle Compliance?
Oracle Compliance specializes in the following:
FAIS
● Development Of Compliance Systems, Procedures, And Documentation
● Outsourced Compliance Officer Function
● Ongoing Monitoring And the Enhancement Of Control Measures
● Licensing Assistance
● Risk-Based Practise Assessment
● Implementation Of any Effective Control Measures For Regulatory Requirements
● Regulatory Reporting To the FSB
● Complaints Management
● Legal Advice And the Litigation Services
● Upfront And the Ongoing Regulatory Training
FICA
● Embedding of the Money Laundering requirements
● Money Laundering of Reporting facilitation
● Drafting Internal Manual
● Staff Training
By generally advising all the necessary primary Financial Services Providers, Oracle Compliance looks forward to making your everyday processes a lot simpler and easier.
