FSB’s quality system is world class

 In what is regarded as a world first, the Financial Services Board, (FSB) the non-banking regulatory supervisor today received the SABS ISO 9001 certificate for quality assurances procedures. 

In presenting the certificate to FSB executive officer, Jeff van Rooyen, Iain Muir of the SABS said: “I have contacted many of my ISO colleagues overseas and no one has indicated that they have registered an organisation such as the FSB - so indeed, today could be a world first.

 “The FSB and the SABS have the same goal - protecting the people of South Africa. The FSB is looking after the financial aspects and the SABS is involved in the more tangible products of life. The SABS, like the FSB is not afraid to challenge if infringements are suspected.

 “Affiliation to the International Accreditation Forum assures the FSB of international recognition of their quality system. There are two main spheres where SABS 9001 is vital for the FSB - the professionalism and administration.

 “ISO 9001 requires the FSB to train and maintain continued professional development - it also requires continuous internal audits to ensure that the procedures are validated.

 “I believe that the FSB is setting an example for the financial industry - I hope that  insurance companies,  pension funds and other similar institutions would soon see the benefits of quality assurance and SABS ISO 9001 and install similar systems.”

 Van Rooyen said receiving the certificate was a major achievement and placed the FSB among the top companies in the world regarding quality assurance.

 “The Operating Management System focuses on meeting the requirements of the stakeholders which include government, the industries we supervise and the public. This illustrates the commitment of FSB staff to consistently maintain high standards of service.

 “We will go forward to achieve an organisation that is truly efficient and effective in our statutory (supervisory and advisory) role and in the wider context of the public interest.”