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COMPLIANCE

Be Nimble. Evolve with the Ever-changing Landscape

FINANCIAL INSTITUTIONS REGULATORY & COMPLIANCE

EVERYDAY CHALLENGES

The current regulatory and legislative horizon is rapidly changing, adding more layers of compliance. This significantly increases risk, requiring:

  • Specialised industry experience to accelerate compliance monitoring
  • Flexible management of resources and capacity constraints
  • Innovative approaches, best practices
  • Increasing reliance on 1st and 2nd lines of defense to provide combined assurance

THE ADEPT ADVISORY SOLUTION

Adept Advisory’s Compliance Team has significant practical hands on experience – a blend of both technical and industry experience with relevant credentials.

Our services span across Africa and are provided either on a co-source basis, working directly with your existing Compliance team, or on a fully independent outsourced model.

OUR DELIVERABLES

Our proven deliverables include:

  • Compliance risk assessments
  • Impact / gap analysis of areas of non-compliance (e.g. AML, POPI)
  • Recommendations for remediation based on industry practice
  • Risk management plans (e.g. FICA, FAIS)
  • Monitoring, escalation and reporting
  • Training and education

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

Benefits for your organisations include:

  • Technical expertise
  • Best practice, creative solutions
  • Consistent quality and continuity with flexible staffing levels
  • Reduced training and staff turnover cost
  • Knowledge transfer objectivity and confidentiality
  • Proven leadership without recruiting costs

OIL & GAS REGULATORY COMPLIANCE

EVERYDAY CHALLENGES

From the Department of Energy’s large one-off capital intensive compliance projects, to keeping abreast of NERSA’s licensing and tariff requirements, maintaining compliance isn’t always straight forward.

Some everyday challenges are:

  • Fluctuating resource requirements
  • Competition laws preventing you from working with industry-and competitor-sensitive data
  • Co-ordination of parties from across the liquid fuel value chain
  • The DoE’s state of flux between re-regulation and de-regulation

THE ADEPT ADVISORY SOLUTION

We have developed a specialized offering focused specifically on supporting oil majors meet and maintain regulatory compliance.

By working collaboratively with you, our highly experienced and knowledgeable team will help not only deliver compliance but develop your teams skills and expertise.

Each engagement is viewed as a unique project, supported by clearly defined project charters, including objectives, key milestones, deliverables, defined timelines and roles & responsibilities.

Our independence eliminates conflict of interest, and allows us to work on otherwise highly confidential data.

Adept has strong working relationships with both NERSA and SAPIA.

OUR DELIVERABLES

Current offerings include support on critical compliance agendas, covering:

1. NERSA Licensing & 3rd party Tariff Applications

  • NERSA storage and/or pipeline tariff and license submissions, including Joint Venture facilities
  • Financial modeling aligned to NERSA’s methodology, ensuring consistent & efficient calculations and submissions
  • Quality assurance application reviews, NERSA application reviews

2. Transition Fuels implementation (Clean Fuels and Bio Fuels)

  • Program Governance – defining objectives, scope, high-level plans and deliverables
  • Project Delivery & Support – Detailed project work plans, resourcing, risks & issue tracking, status reporting and communication
  • Cost recovery model reviews

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

  • Regulatory compliance with NERSA’s licensing & 3rd party tariffs
  • Increased compliance with DoE’s mandatory Transitional Fuels and Bio Fuel blending regulations
  • Increased likelihood of financial recovery on investment and better decision making, given robust supporting information
  • Enhanced co-ordination, effectiveness and productivity
  • Ensuring continued focus on core fuel businesses

CONTRACT MANAGEMENT

EVERYDAY CHALLENGES

  • Using complex contracts, such as long-term discounts, cost-plus pricing, volume discounts, multiple units of measure and multiple currencies
  • Have special supplier arrangements, such as rebates, retro-pricing, spot buys and resale programmes
  • High accounts payable turnover or inexperienced staff
  • Have a decentralized purchasing function
  • Recently performed a system upgrade or conversion or have an older legacy system
  • Experienced a merger or acquisition in the past few years
  • Suspect fraud

THE ADEPT ADVISORY SOLUTION

Our Contract Management service offering looks to provide an answer to the economic, competitive and budgetary demands placed on organisations for sustainable cost reduction. This includes the evaluation of possible exposure to overpayments and an in-depth review of the procurement process.

Our 4-phased approach covers:

  • High-level risk assessment of procurement activities, annual spend and buyer/ supplier contracts
  • Detailed scoping
  • Area reviews of contracts, potential recoveries and savings
  • Provide solutions by recommending quick wins and implementation plans for long-term improvements

OUR DELIVERABLES

Our offering includes the following elements:

  • List of potential activities/ areas for recoveries
  • Activity-/area-level data and process analysis
  • Analysis of common error types and recommendations for improvement or short-term solutions
  • Documented recoveries
  • Improvement recommendations

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

  • Improved procurement and payment processes
  • Better accuracy of supplier transactions and relationships
  • Achieve cost reduction and recovery
  • Improved financial and operational processes
  • Effective contract structuring for sustained cost reduction
  • Enhanced business performance

COMPLIANCE LANDSCAPE

EVERYDAY CHALLENGES

The current regulatory and legislative horizon is rapidly changing, adding more layers of compliance. This significantly increases risk, requiring:

  • Increased need to operationalize regulatory compliance to Business As Usual
  • Effective navigation between different regulators and regulatory requirements within pre-defined timelines
  • Up-to-date specialized industry experience to accelerate compliance monitoring
  • Flexible management of resources and capacity constraints
  • Innovative approaches, best practices
  • Increasing reliance on 1st and 2nd lines of defense to provide combined assurance

THE ADEPT ADVISORY SOLUTION

Adept Advisory’s Compliance Team has significant practical hands on experience – a blend of both technical and industry experience with relevant credentials.

Our services span across Africa and are provided either on a co-source basis, working directly with your existing Compliance team, or on a fully independent outsourced model.

OUR DELIVERABLES

Our proven deliverables include:

  • Compliance risk assessments
  • Impact / gap analysis of areas of non-compliance (e.g. AML, POPI, RDARR) incorporating advanced compliance diagnostic tools
  • Recommendations for remediation based on industry practice
  • Risk management plans (e.g. FICA, FAIS)
  • Monitoring, escalation and reporting
  • Training and education

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

Benefits for your organisation include:

  • Technical expertise
  • Best practice, creative solutions
  • Improve regulatory planning and execution
  • Culture and strategy framework alignment
  • Knowledge base repository
  • Knowledge transfer objectivity and confidentiality
  • Reduction in change initiatives
  • Consistent quality and continuity with flexible staffing levels
  • Reduced training and staff turnover cost
  • Our diagnostic tools result in increased regulatory coverage, minimising potential for regulatory gaps
  • Key control management through prevention of control duplications
  • Enhanced reporting and MI
  • Proven leadership without recruiting costs

POPIA @ADEPT

EVERYDAY CHALLENGES

1 July 2021 marks the regulatory deadline for compliance with the Protection of Personal Information Act (“POPIA”) in South Africa

Understanding what is required of you as an organization that collects, processes, and manages personal information is of monumental importance

Protecting your organization’s data & your client’s personal information is paramount in building trusting relationships in a client centric world

And for those organizations who have not begun their respective POPIA journeys or have not achieved a level of readiness, this could be stressful and daunting

Where do you begin

  • Understand what “personal information” or “special personal information” your organization has access to for your employees, clients and third parties
  • Develop a POPIA Programme to map out your POPIA Compliance Roadmap
  • Create appropriate governance structures and support mechanisms
  • Create ownership for Privacy Risk & Data Management
  • Measure & monitor your Implementation Plan

THE ADEPT ADVISORY SOLUTION

Our POPIA Solution, is not a one size fits all solution

At Adept Advisory we would like to assist our clients with fully understanding their Privacy Risk Profile through unpacking their existing operating and regulatory landscape and overlaying this with a customized tailored solution for each of our client’s businesses

We do this through:

  • Conducting a Privacy Risk Assessment
  • Unpacking your operational business activities
  • Assessing IT & Data impacts
  • Assessing HR Practice against privacy requirements
  • Assessing 3rd Party Impacts
  • Assessing Governance Structures and Requirements across all business and support functions
  • Assessing Training Requirements
  • Customized Training Programmes
  • Defining a roadmap for compliance and thereafter assisting with day to day execution of the POPIA compliance roadmap

OUR DELIVERABLES

Our deliverables are tailored to the individual engagements but could include:

  • Gap Analysis addressing POPIA Compliance and Data Management Requirements
  • Recommendation reports following a Gap Analysis
  • Roadmap and Implementation plan for POPIA Compliance
  • Process Analysis and Process Documenting
  • Framework & Policy Development & Adequacy Assessment for POPIA and Data Management
  • Privacy Risk identification and alignment to risk management practice
  • Change management capabilities ensuring that privacy is entrenched in the organization’s culture
  • Advisory Services – Governance Framework, Governance Structure Construct & Adequacy Assessment
  • Ongoing support to the Privacy Office (including Deputy Privacy Officer) in unpacking the privacy roles and responsibilities

SUSTAINABLE BENEFITS FOR YOUR ORGANIZATION

In ensuring POPIA compliance for an organization, management will enable themselves to understand their business and operational processes to its fullest

Create a Privacy Risk Profile for the organization, which will provide insight into the client & business data management practices

Embed Privacy by Design into business operations

Identify, Assess and Manage IT Controls and Vulnerabilities on an ongoing basis

Develop a strong Data Management Culture and Practice within the organisation

Minimize regulatory risk exposure

Avoid reputational damage

Create and build trusting relationships with clients and key stakeholders