Job purpose
- To ensure operational and regulatory compliance as well as fraud risk detection, the branch inspector's main responsibility within the Fraud Risk Distribution team is to perform routine branch inspections throughout different provinces.
Key responsibilities
- In line with the Branch Inspectorate approved process requirement, monitor Compliance at each branch within the respective province per quarter.
- Strive to achieve 100% branch inspection coverage in the 1st 2 months per quarter.
- Draft working papers detailing monitoring performed.
- Draft factual findings sheet and discuss with Branch management, document corrective action plans for non-conformances.
- Draft monitoring reports detailing results of monitoring performed.
- Monitor corrective action plans to ensure branches address identified non-compliance.
- Keep updated with latest FAIS developments.
- Perform duties as per Branch inspection process requirement document.
- Discuss findings of compliance audit with branch and provincial manager as conclusion of audit.
- Distribute branch inspection report within 24 hours of inspections to relevant stakeholders.
- Monitor corrective and remedial action plans at branches at next inspection and note progress.
- Attend to findings highlighted from Quality assurance assessments conducted on work done weekly.
- Attend at least 1 FAIS/FICA related training course per year.
Key performance measures
Key Performance Measures (KPIs) for a Branch Inspector in a fintech company offering loans, bank accounts, and funeral policies should focus on compliance, risk mitigation, operational efficiency, and impact on business objectives. Here are essential KPIs to consider:
Inspection Coverage and Frequency
- Branch Coverage Rate: Percentage of branches inspected per quarter/year according to schedule.
- Inspection Frequency Compliance: Measures adherence to inspection timelines.
Compliance and Regulatory Adherence
- Compliance Score: Average compliance score per branch based on adherence to policies.
- Policy Violation Detection Rate: Number or percentage of policy violations detected during inspections.
- Audit Follow-up Rate: Percentage of identified issues that have been addressed within a specified timeframe after the inspection.
Operational Efficiency and Timeliness
- Inspection Report Completion Time: Average time taken to complete and submit inspection reports post-visit.
- Issue Resolution Time: Average time required for branches to address and resolve issues identified during inspections.
Quality and Accuracy of Inspections
- Audit Accuracy: Quality assurance scores monthly.
Risk Management and Mitigation
- Risk Mitigation Effectiveness: Percentage reduction in high-risk issues over time at inspected branches.
- Repeat Findings Rate: Percentage of issues that are repeatedly identified at the same branches.
Stakeholder Feedback and Engagement
- Branch Staff Feedback: Satisfaction score from branch staff regarding the inspection process.
- Management Feedback on Inspection Quality: Ratings or qualitative feedback from management on the value of the inspector’s reports.
Training and Awareness Contribution
- Number of Training Sessions Conducted or Facilitated: The number of compliance or fraud prevention training sessions facilitated by the inspector.
- Compliance Awareness Improvement: Measured through periodic surveys or assessments.
Professional Development
- Continuous Learning and Certification Completion: The inspector’s completion of relevant certifications or training.
Qualifications and Experience
Educational Level:
- Matric
- Passed FAIS Regulatory Exam (RE) 5 essential
Specialist Skills required:
- Practical knowledge and experience using Microsoft Office
Experience Required:
- 2+ years’ financial services experience
Essential requirements:
- Be self-motivated, energetic and willing to put in extra effort when required.
- Extensive travel.
- Have a high definition to detail.
- Be organised and assertive.
- Have a high sense of independence and a commitment to acting with integrity.
- Have excellent time management skills.
- Can work in a team and under pressure.
- Attention to Detail: High attention to detail to accurately assess compliance and operational standards.
- Communication Skills: Strong verbal and written communication skills to effectively report findings.
- Ability to Travel: Willingness and ability to travel frequently for on-site inspections.
- Independence and Integrity: Ability to work independently, demonstrating integrity and ethical judgment.
- Investigative Skills: Competence in conducting thorough investigations and documenting findings.
Behaviours required
Problem solving
(State the kinds of problems and difficulties that this job has, and the thinking required to be successful)
Problem:
- Uncooperative staff at Branches.
Thinking:
- Role requires patience and persistence in order to obtain the required information.
Problem:
Challenges to findings.
Thinking:
Candidate must always maintain integrity and be willing to consider arguments.
Problem:
Time pressure.
Thinking:
Candidate must manage time effectively to ensure all work is performed timeously.
Problem:
Safety Risks.
Thinking:
Candidate will be required to travel to potentially high-risk locations and must be vigilant.
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