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Financial services board

Financial services board. Presentation to SCOF on Strategic and Annual Performance Plans and Performance Report 13 April 2016. Financial services Board (FSB). The FSB is represented by: Dube Tshidi : Executive officer Caroline da Silva: DEO – FAIS Paul Kekana: Chief Financial Officer.

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Financial services board

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  1. Financial services board Presentation to SCOF on Strategic and Annual Performance Plans and Performance Report 13 April 2016

  2. Financial services Board (FSB) The FSB is represented by: • Dube Tshidi : Executive officer • Caroline da Silva: DEO – FAIS • Paul Kekana: Chief Financial Officer. • Roy Harichunder: Chief Risk Officer

  3. introduction • The FSB is pleased to present its • Strategic Plan for 2015 – 2017 • Annual Performance Plan (APP) 2016/17 • Quarterly performance information 31 March 2016 • Prepared in accordance with the NT guidelines • The Strategic Plan covers the transition period, estimated to be a 3 year period 2015 - 2017

  4. Introduction Continues… • The Strategic Plan addresses FSB’s objectives and risks during the period of the transition from the FSB to Financial Services Conduct Authority (FSCA). • The overriding objective being the smooth and seamless transition from FSB’s current mandate to a market conduct regulator. • Due to on-going legislative and logistical developments it was necessary to update the strategic plan late last year. • The updated strategic plan was approved by the FSB’s Board on 29 March 2016. • This presentation incorporates the updated plan.

  5. Strategic plan – Legislative Mandate

  6. Strategic context of the FSB/FSCA In line with the NDP, the FSB plays a meaningful role in promoting growth, employment and poverty reduction through: • promoting more ‘value for money’ financial products and services and reduce the abuse of savings and investments; • retirement reform; • opportunities to increase asset ownership and asset protection by the historically disadvantaged; • reducing cost of regulatory compliance, especially for small- and medium-sized businesses; • promote access to employment, financial inclusions and education.

  7. Strategic plan – Transformation and financial inclusion Focus of the FSB and future FSCA: • Transformation in line with government policy; • FSB/FSCA will continue to offer employment to skilled Black professionals; • Financial inclusion and the formulation and implementation of strategies and programmes for financial education; • Short-term and long-term plans to address transformation in each sector in which the FSB/FSCA operates.

  8. Strategic plan – FSB transition to FSCA • The FSB has established the Regulatory Strategy Committee (RSC), sub-committee of the FSB EXCO • Role of the RSC: • to assist in facilitating a smooth transition from the FSB’s current mandate, strategy and structure to that of the FSCA • has overseen the development of a functional design for the FSCA (to be used as basis for the recommended organisational structure); • to oversee the development of recommendations on a regulatory strategy for the FSCA. • The FSB will continue in its current role into the 2016/17 financial year, pending enactment of the FSR Bill.

  9. Strategic plan – Strategic outcome 1 Empowered consumers of financial products and services

  10. Strategic plan – Strategic outcome 2 Proactive stakeholder management

  11. Strategic plan – Strategic outcome 3 Sound financial institutions that treat their customers fairly

  12. Strategic plan – Strategic outcome 4 Sound internal policies, systems, processes and procedures

  13. Strategic plan – Strategic outcome 5 Effective transition of the FSB to the FSCA

  14. Annual performance Plan A summary of the FSB’s APP for 2016/17 follow in the next slides. The APP sets out the strategic objectives, performance targets and performance indicators in respect of each strategic outcome.

  15. Annual performance Plan - strategic outcome 1 Empowered consumers of financial products and services

  16. Annual performance Plan - strategic outcome 2 Proactive stakeholder management

  17. Annual performance Plan - Strategic outcome 3 Ensure sound financial institutions

  18. Annual performance Plan - Strategic outcome 3 cont.…

  19. Annual performance Plan - Strategic outcome 4 Improved internal policies, processes and procedures

  20. Annual performance Plan- Strategic outcome 5 Effective transition to market conduct regulator.

  21. Annual performance Plan - Strategic outcome 5 cont.…

  22. Performance information The quarterly performance information for the 12 months ended 31 March 2016 follows. Note: This information is unaudited.

  23. Performance reporting - Strategic outcome 1: Informed and protected consumers .

  24. Performance reporting - Strategic outcome 2: Stakeholder management .

  25. Performance reporting - Strategic outcome 2: Stakeholder management cont.… .

  26. Performance reporting - Strategic outcome 3: Sound financial institutions .

  27. Performance reporting - Strategic outcome 3: Sound financial institutions cont.… .

  28. Performance reporting - Strategic outcome 4: improved internal policies, processes and procedures cont.… .

  29. Performance reporting - Strategic outcome 5: Effective transition to the market conduct regulator .

  30. Departmental expenditure

  31. Other expenditure

  32. Capital Expenditure

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