Here is the rewritten article in markdown format:
Compliance Officer Role Emphasized at Fiji’s Financial Institution
The role of a Compliance Officer has become increasingly crucial in Fiji’s financial sector, particularly in institutions that require strict adherence to regulatory standards and laws. In this regard, the position of a Compliance Officer has been defined and outlined by the institution, highlighting key duties and responsibilities.
Key Responsibilities
As part of the Senior Risk & Compliance Officer’s team, the Compliance Officer is responsible for:
- Assisting in developing an effective risk-based compliance review plan
- Creating internal controls
- Monitoring adherence to them
- Reviewing company policies and procedures
- Proactively reviewing business processes, practices, and documents to identify weaknesses and communicating these findings to management and staff
Compliance Management
The Compliance Officer is also responsible for:
- Evaluating business activities to assess compliance risk
- Setting plans to manage crises or compliance violations
- Carrying out project site inspections with engineers
- Reviewing and updating Project Risk Registers at delivery stage based on site visits
- Following up on audit issues
Employee Education and Training
A critical aspect of this role is educating and training employees on compliance management processes and statutory regulations. The Compliance Officer will also:
- Address employee concerns or questions on compliance
- Maintain a single “Audit Issues Register” for all actions required as a result of weaknesses identified in internal/external audit reports
Additional Responsibilities
In addition to these key responsibilities, the Compliance Officer is expected to:
- Contribute to the formulation of a Business Continuity Plan and operations recovery plan
- Participate in regular training
- Furnish accurate financial and non-performance results
- Ensure compliance with FRA’s Standard Operating Processes (SOP) and policies
Qualifications and Requirements
To be considered for this role, candidates must possess:
- An appropriate tertiary qualification in business administration, accounting, or law
- A minimum of 3 years’ relevant experience
- Membership to an internationally recognized professional body such as the Institute of Internal Auditors or Fiji Institute of Accountants
Competencies
The ideal candidate will possess:
- Strong written and oral communication skills
- Proficiency in MS Office, Word, and Excel
- A deep understanding of FRA’s whole business processes
- An absolute focus on “value for money” and sustainable results
- The ability to identify weaknesses quickly and constructively argue issues with management
Overall, the Compliance Officer role at Fiji’s financial institution requires a highly skilled and experienced professional who can ensure compliance with regulatory standards, laws, and policies while contributing to the organization’s overall success.