Face2Fais’s integrated training approach to compliance management ensures the delivery of Fit & Proper Representatives & Key Individuals. Our knowledge and experience enables us to deliver compliance management to small, medium and large organisations and we will support and partner with you from the initiation phase through to the conclusion phase, including planning, delivering and execution of the training cycle.

By looking at the date of first appointment in the industry (DOFA date) of each Representative & Key Individual, as well as the company FSP Licence, we determine the Fit & Proper status of individuals. A Gap analysis is done which then enables us to highlight the risks associated with qualifications, regulatory exams and supervision of the group, to the stakeholders.

We follow a 5-step project management approach towards compliance management. Click here to view detailed steps.

1) Initiation

In this first step we provide an overview of the project in addition to the strategy you plan on using in order to achieve the desired results. During the Initiation phase you’ll appoint a project manager who in turn – based on his or her experience and skills – will select the required team members.

2) Planning

The all-important second step of any successful project management life cycle is planning and includes a detailed breakdown and assignment of each task of your project from beginning to end. The Planning phase will also include a risk assessment and defining the criteria needed for the successful completion of each task. In short, the working process is defined, stakeholders are identified and reporting frequency and channels explained.

3 & 4) Execution and Control

Steps three and four take you into deeper waters. When it comes to the project management cycle, execution and control just may be the most important of the five steps as it ensures that project activities are properly executed and controlled. During the Execution and Control phases, the planned solution is implemented to solve the problem specified in the project’s requirements. In product and system development, a design resulting in a specific set of product requirements is created. This convergence is measured by prototypes, testing, and reviews. As the Execution and Control phase’s progress, groups across the organisation become more deeply involved in planning for the final testing, production, and support.

5) Closure

By the time you reach step five – Closure – the project manager would be tweaking the little things to ensure that the project is brought to its proper conclusion. The Closure phase is typically highlighted by a written, formal project review report which contains the following elements: a formal acceptance of the final product (by the client), weighted critical measurements (a match between the initial requirements laid out by the client against the final delivered product), lessons learned, project resources, and a formal project closure notification to higher management.

The Project Management Cycle saves time and keeps everyone on the team focused.

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