StatComp Services was established in 2011 to provide comprehensive statutory and compliance services for small and medium businesses in South Africa. Its vision is to become a preferred outsourced compliance service provider, and its mission is to employ qualified staff to identify client needs and deliver positive returns. StatComp offers statutory and regulatory compliance services, operational risk management, general business compliance support, administrative processes design, recordkeeping solutions, knowledge sharing and training. The services are tailored for small businesses with less than 100 employees and medium businesses with less than 500 employees, targeting industries like law, accounting, auditing and financial services. StatComp promises to deliver the highest quality client service through responsiveness, communication, understanding clients' businesses and needs, cost consideration, and
4. New and updated legislation requires immediate implementation and monitoring.
5. Statutory, compliance and risk management services are required by most companies and SME’s.- Administration, scanning, filing and recordkeeping is part of the process and often creates burdens for companies.
6. Vision & Mission Vision: ‘To establish StatComp as one of the preferred compliance Outsource Service Providers (OSP) in the industry’. Mission: ‘To employ and empower qualified and competent staff who provide quality service and in turn ensure that all client needs are identified and that positive returns are delivered to all clients and stakeholders’.
7. Concept Serving Close Corporations, Companies and Trusts offering the following: Statutory and regulatory compliance services. Operational risk management services. A platform to ensure and support general business compliance. Offering the design of administrative processes and procedures. Deployment of state of the art technology. Recordkeeping solutions, includes scanning, filing and printing. Knowledge sharing and training. Application and training of appropriate legislation, i.e. POPI & CPA. Access to a range of services, information and updates.
8. Statutory Compliance Services ‘StatComp Services was established in 2011 to meet a need in the SME market for comprehensive statutory and compliance services. The services are tailored to meet the growing compliance needs of small and medium size businesses’. Regulatory Compliance Services Operational Risk Management Services
9. Statutory Compliance Offering Registration and maintenance of Close Corporations, Companies and Trusts. Compilation and maintenance of the necessary documentation. Ensuring compliance with all the CIPC requirements. Full administration services. State of the art filing, scanning and recordkeeping solutions. Financial and Bookkeeping Services. Application of market conduct requirements. Monitoring of Compliance standards. Training and up skilling.
10. Regulatory Compliance Offering The compliance function is an independent oversight function. Market conduct legislation requires adherence to rules and procedures. Business is often too focused on growth (or survival) with limited focus on compliance. 4 StatComp will provide guidance and tools to help facilitate compliance. This offer consists of the following: - Ensure compliance obligations are understood. - Ongoing support in all existing and new compliance matters, i.e. FAIS Act. - Develop compliance manuals and provide training. - Perform annual compliance audits. - Report and monitor regulatory breaches. - Develop action plans for the mitigation of breaches.
11. Key Deliverables
12. Operational Risk Management Offering 1. Operational Risk Management (ORM) is traditionally managed informally. 2. Employees often do not realizing that its part of their daily tasks. 3. ORM issues are addressed through audit and compliance functions. 4. This episodic approach often results in operational risks only being identified at a later stage. 5. StatComp will assist clients in addressing operational risks more effectively. 6. This entire process is dependant on self assessments, annual reviews, audits, reporting and monitoring. 7. Legislation affecting ORM:: - Basel II: prescribes the standards for ORM for Banks. - Solvency II: prescribes the standards for ORM for Insurance. - King III, CPA, Companies Act and FICA.
13. Key Deliverables
14. Target Market Offering a range of services focusing on the SME Market: - Small businesses: less than 100 employees; and - Medium-sized business: less than 500 employees. Client Types and Industries: Lawyers; Accountants; Audit Firms; Financial Services Providers (FSP’s); Brokers; and Training Providers.
15. The Benefits The team at StatComp has the necessary operational, business, compliance and risk management experience. Will recommend effective solutions to the challenges that clients may face in a dynamic, changing business environment. Planning with clients to create an effective working relationship.
16. The Commitment Understand the needs and services required. Propose effective solutions and agree the rules-of engagement. Establish legislative and compliance requirements. Review maintenance of statutory records and provide solutions. Ensure efficient processes of statutory compliance and or formalities. Provide technical assistance and best practice. Provide training if and where required. Establish processes for ongoing monitoring of compliance. Review Corporate Governance requirements. Continuous liaison with Management & Auditors.
17. Competitive Advantage Statutory ‘compliance outsourcing services’, is a trend gaining momentum. The services are designed as ‘life saving’ elements for business. Do not adopt an arms-length approach, but provide practical hands-on’ advice and interventions. Remain focused means the team can consistently deliver quality work by: - Employing qualified and trained staff. - Deploying and using the latest technology. - Ensure adherence to all regulatory & compliance requirements. - Effective strategic and operational planning. - State of the art filing and recordkeeping systems. - Subscribing to good Corporate Governance at all levels. - Regular reporting at management and executive levels.
18. The StatComp Team Marc Haldane has …. Elzabe Opperman has more than 20 years working experience in the banking and insurance industries, working in the fields of Direct and Corporate Marketing. In the last 7 years Elzabe gained significant experience in the fields of Operational Risk Management and Regulatory Compliance – not only in South Africa, but Kenya and Uganda as well. She holds an Honors Degree in Industrial Sociology and a Diploma in Labor Law. Adri Grobler has worked in the banking and wider financial services industry for the past 25 years. Adri has developed training material on a wide range of topics (FAIS, NCA, CPA, Compliance and Risk Management) and is a regular conference speaker on these topics. Adri consults to banks and insurance companies on creating infrastructures to meet the increasing legislative compliance requirements. She holds a Biuris LLB degree.