This recognition included the registration of two professional designations, namely Compliance Practitioner (CPrac) and Compliance Professional (CProf). These designations will be conferred on those compliance officers who meet the experience, knowledge, skills and ethical requirements and who successfully complete the board examinations.
Julie Methven, CEO of the institute said: "Professionalising the compliance industry is one of the institute's key strategic drivers, and being recognised by SAQA as the registered professional body for compliance officers is an incredibly important milestone." Given the changing role of compliance from that of a low profile, tick-box function, to a strategic business imperative where the compliance officer acts as an integral part of the top management team, professionalising the industry has become critical.
Earlier this year, the institute became the Development Quality Partner (DQP) with the Quality Council for Trade and Occupations (QCTO) for the development of a compliance officer occupational curriculum. The QCTO is one of three SAQA quality councils and focuses on the quality of occupational and professional qualifications.
The development process for the occupational curriculum for compliance officers included the involvement of expert practitioners as well as ongoing consultation with Institute members, the industry as a whole and other key stakeholders. The final product has been submitted to the QCTO for approval.
In addition, the institute has applied to become the QCTO's Assessment Quality Partner for the occupational curriculum for compliance officers. This means that, in addition to developing the qualification, the institute will also manage and moderate the external assessment processes of the board exams.
