Position description: Strategi Compliance Officer

Position title Compliance Officer
Reporting to Head of Licensing and Compliance

Strategi Compliance

Strategi Compliance (Strategi Ltd) is New Zealand's leading provider of compliance, licensing, audit, and advisory services to the broader financial services industry. Strategi Compliance is part of the Strategi Group of companies which also includes Strategi Institute, an NZQA registered training provider to the financial service sector.

Strategi’s purpose

Strategi helps New Zealanders by raising the professional standards of the individuals and businesses in the broader financial services sector, upon which Kiwis rely for advice and to improve their financial wellbeing.

Role purpose

This is a fantastic role for someone who wants to develop a career in compliance within the financial services industry.

The role will see you providing verbal and written compliance advice to Strategi’s clients. You will manage an existing set of client accounts and work to grow the client base.

The role provides scope for the right candidate to gain a broad-based knowledge of compliance and to grow into a more senior role within the company.

The Compliance Officer is responsible for a number of compliance related functions. These include:

  • working with the CEO, Head of Compliance and Executive Director and others on compliance related projects
  • implementing and managing the compliance and best practice processes for selected Strategi clients. This involves managing a number of compliance clients 
  • keeping abreast of changes to industry legislation, regulations, codes and Financial Markets Authority (FMA) Guidance Notes, while ensuring clients are made aware of these, are trained on them and that they are incorporated into their policies and processes
  • providing compliance update training for all advisers and staff and the marketing of Strategi’s compliance and other services to your nominated clients and others
  • conducting the appropriate compliance reviews for client companies. These could be monthly ongoing services, six monthly or annual reviews. This will involve a comprehensive check on randomly selected client files, reviewing all related advice, products, systems and procedures to ensure that regulatory and industry best practice standards are being achieved
  • maintaining compliance records to meet legislative, regulatory, Code, FMA and Strategi standards
  • managing change management within client businesses
  • where appropriate, promoting, implementing, training and maintaining services provided as part of other Strategi Group services sold to the client
  • protecting and growing existing accounts with value added products, services and solutions
  • assisting with the acquiring of new accounts
  • conducting AML/CFT audits under the AML/CFT Act 2009
  • generating revenue of at least three times the total cost of employment
  • other duties as assigned.

The key focus is on developing Strategi’s reputation as the most respected provider of adviser training, compliance and support services in New Zealand and ensuring all client companies and their staff are compliant.

Person specification

The ideal person will:

  • have experience in compliance, preferably within financial services
  • hold a law degree with two to three years legal experience, including the ability to understand and interpret legislation, regulation, codes and conduct obligations
  • have a client centric approach
  • be solution driven
  • have excellent written and spoken English
  • have experience with Word, Excel and PDF development.

Ideal applicants will also have the following skills or attributes:

  • great attention to detail
  • ability to multitask
  • ability to prioritise tasks
  • proactive, with good self/time management
  • ability to work flexibly and in a professional services environment
  • resilience when working under stress

Key accountabilities

1. Compliance reviews and maintaining compliance status of nominated companies

% of role

Performance indicators

Be responsible for a nominated group of client companies and:

  • conduct ongoing, six monthly/annual compliance reviews for the designated financial advisers and companies
  • visit advisers/businesses to gather compliance related information as outlined in the appropriate compliance checklist.
  • conduct reviews online where appropriate to save time and minimise expense
  • ensure advisers, boards, management, and staff of client companies are kept abreast of changes to industry legislation, regulation, codes and FMA Guidance Notes. Ensure clients are trained on these and they are incorporated into the policies and processes of client companies
  • conduct compliance follow-up meetings and discussions to assist advisers and companies to obtain compliance sign off
  • provide training and support to advisers and their support staff to assist them to understand and implement best practice standards
  • liaise via email, telephone, Zoom, Teams, etc. and in person, to provide training and assistance related to best practice processes.

60

  • All reviews are conducted within the terms of the contract of engagement with the client.
  • Client firms meet their compliance, good conduct, and licence obligations.
  • Clients report they have received value and become willing compliers.
  • A positive compliance culture is developed within client firms.
  • Detailed records of compliance contact and activity is maintained so all decisions can be substantiated.
  • 1 in 5 firms refer another adviser or company to you each year.
  • Calls and emails are returned within 24 hours.
  • Queries are answered in full, together with an explanation on why the recommended action is important. Where possible, what is required or what reference to review is outlined.
  • Timely feedback to the CEO and nominated manager is provided regarding what additional material and solutions could be provided by Strategi.
  • Client compliance standards are compatible with those of other Strategi compliance officers.

2. Promoting and managing other Strategi Group services

%

Performance indicators

  • Promote other Strategi Group services to the industry.
  • Develop quotes and implementation plans for clients.
  • In conjunction with your nominated manager, manage the implementation of Strategi Group solutions, or components of the solution, to licensed entities.
  • Provide services as part of other Strategi Group offerings sold to the client.
  • Protect and grow existing accounts with value added products, services and solutions.
  • Assist with the acquiring of new accounts.

15

  • At least one Strategi Group solution is signed up and implemented every month.
  • All users of a Strategi Group solution are fully trained and effective within days of installation.
  • Business owners can quantify the value added from your support and speak positively via feedback forms of the implementation and how it has benefited their business.
  • All Strategi Group solutions sold to clients are profitable and are implemented within the terms of the agreement/Letter of Engagement.

3. Conduct AML/CFT audits

%

Performance indicators

When requested, undertake AML/CFT audits of Reporting Entities, including:

  • preparing documentation for client AML/CFT audits
  • collecting required documentation from clients prior to audit
  • reviewing clients’ AML/CFT risk assessments, AML/CFT policies, procedures and controls (the AML/CFT audit) and prepare audit reports.

10

  • Clients are kept aware of, are up to date with, and meet their AML/CFT obligations and are assisted to have the correct policies, procedures and controls in place.
  • AML/CFT audit reports are completed within five working days from the date of the audit.
  • Audits are accurate and meet AML supervisor guidelines and follow the Strategi template.

4. Licence applications

%

Performance indicators

  • Assist with preparing relevant market service licence applications for clients. This includes analysing the client’s business, identifying required documentation and drafting any missing operational policies and processes.
  • Assist clients to prepare required financial information for application.
  • Implement licence policies and procedures into client businesses.

5

  • High quality licence application and supporting documentation produced, resulting in approval by FMA.
  • Licence application work completed on time, within budget and in accordance with the client Letter of Engagement.
  • The client engages Strategi to be the ongoing compliance provider.
  • The client confirms via surveys that implementation process was well organised and meets the business needs.

5. Other tasks

%

Performance indicators

  • Work with the CEO, Head of Compliance, Executive Director or other key staff within Strategi on special projects.
  • Manage and complete specified projects.

10

  • Work is conducted on time and within budget.
  • Work is accurate and is written to meet clear, concise and effective guidelines.

Total weighting

100%