michael rowles

Specialist compliance firm for financial advice providers

As the Head of Compliance I managed a team of Consultants both employees and contractors to provide compliance services to licensees who held Australian Financial Services Licences. The role also required me to develop new services for delivery and to train the Consultants to deliver those new services effectively and efficiently. I Was involved with a Large Accounting firm in the assessment of a Licensee that was under an Enforceable Undertaking from the Australian Securities and Investments Commission.

* At Tribeca my responsibilities included: * preparing budgets and reporting to the management committee on variances from the budget, * liaising with client and holding regular meetings with them to report on progress of the work we had been contracted to carry out * managing and training a team of 10 consultants (both employees and contractors) as well as a support team of 6 * design new services and sign off on collateral to support those services * present at Licensees Professional Development days.

* Manage a team of up to 10 direct reports including senior consultants and administration staff. * Provide technical support on compliance to the business and external Australian Financial Services Licensees. * Design policies and procedures for AFSLs. * Conduct operational compliance assessments of AFSLs. * Interpret legislation and write guidance notes on those interpretations. * Liaise with ASIC on licence applications * Assist Licensees to appropriately handle breaches * Conduct assessments for Enforceable Undertakings directly for Licensees as well as a contractor for Large Accounting Firms who had been appointed as the External Expert.

This is a new company that I have commenced to provide compliance consulting to financial planning entities. I truly believe that the industry can provide significant benefits to its clients and the general public which would eventually result in a positive economic outcome for Australia. My aim is to assist the participants in the financial planning 'profession' to deliver those services efficiently and compliantly. Consequently their business will be regarded as a quality business. The services include: Assistance with Licence applications or variations Due diligence for recruiting new advisers or purchase of a client base or cessation of an adviser Outsourced compliance activities Assistance with Enforceable Undertakings and ASIC imposed conditions requiring an external specialist. More information is available at www.compliancefp.com.au