The Practice of Compliance

Our Team

Brief Resume: Tim Howse

Tim started his career at the former UAL Merchant Bank where he held various senior management positions including asset management administration, unit trust operations, user systems, risk management and compliance.

He was appointed General Manager, Operational Risk and Group Chief Compliance Officer at Nedcor Investment Bank following the UAL / Syfrets merger in 1997. He was subsequently appointed Chief Compliance Officer responsible for the Cape region of the new Nedcor Group following the merger with BoE in 2003.

Tim left Nedcor in 2004 to set up eComply, an independent practice which provides specialist compliance, risk and corporate governance services to a select number of highly regarded discretionary asset managers and hedge fund managers.

 A brief on his history:

  • Founder, former Board Member and Chairman of the Compliance Institute of South Africa.
  • A designated Compliance Professional CProf (SA)
  • Approved by the Financial Sector Conduct Authority for purposes of providing outsourced compliance services to Financial Services Providers
  • Holds a Fellowship of the Institute of Financial Markets (FIFM) on which he has served as a member of the Board of Governors
  • Convenor of the Certificate in Compliance Management run through the UCT Faculty of Law for the last 10 years

Tim provides specialised risk and compliance focused training to the industry. This includes introductory training for compliance officers and awareness workshops to prepare investment professionals for their compulsory regulatory exams.

Tim is the convenor of the certificate in compliance management that has been run through the UCT Faculty of Law for the last 10 years.

Tim Howse

Tim and Lesley were appointed to develop the Generally Accepted Compliance Practice framework for the Compliance Institute (including Principles, Standards & Guidelines). This framework has become the industry benchmark and professional reference for compliance officers.

Nick Howse, BSocSci (UCT), CPrac (SA)

Nick joined eComply in 2008 to assist with portfolio compliance monitoring. His focus here is on ensuring effective pre and post-trade portfolio compliance methodology, systems and reporting.

Nick has since gained a reputation for his knowledge of regulatory investment limits as well as the implementation of client-requested, mandate-specific rules. He has also been instrumental in assisting various asset managers in implementing portfolio compliance systems and frameworks, including the use of StatPro, Charles River, Maitland and MarbleTech.

It’s with his lead role in the implementation of compliance frameworks where Nick has really prospered. From the development of compliance risk management plans, staff training, drafting and implementation of compliance-related policies to monitoring reviews and reporting to senior management.

Areas of excellence to note:

  • Development of detailed knowledge of financial regulation, especially FAIS and FICA
  • Assisting clients in implementing and complying with regulatory changes such as moving from a rules-based to a principles-based approach to compliance following the advent of the new market conduct and prudential regulators
  • Implementation of world-class, risk-based monitoring and compliance methodologies for various asset managers in order to meet both the FIC and FATF standards for AML and CFT compliance.

Nick is a member of both the Compliance Institute of South Africa and the International Compliance Association and is also a designated Compliance Practitioner (CPrac SA).

Lesley Harvey, BCOM, CA (SA)

Lesley’s interest in the regulation and governance of the financial services industry began in 1988 while working in London for Spicer & Oppenheim when she was seconded to the Securities & Investments Board (Now the Financial Conduct Authority).

After her secondment, she was responsible for the Regulatory Compliance Unit of Touche Ross in London, with whom Spicer & Oppenheim had merged.
From 1992, on her return to South Africa, Lesley spent six years with Southern Asset Management where she was responsible first for portfolio administration and later as compliance officer.

She was also a director of Southern Asset Management.

In 1999, she joined NIB Asset Management where she became the Chief Operating Officer.

In 2002, Lesley joined Ernst & Young where she was responsible for non-audit services to investment management clients, including GIPS verification services.

She was also responsible for the firm’s hedge funds practice. While at Ernst & Young, she actively participated in the Global Investment Management business by attending their global annual conferences and having regular conversations with the London partners.

Lesley joined Tim Howse in eComply Consultants late in 2005 where her key focus was until early 2020 GIPS verification services. She now focuses on GIPS advisory and consultative services as well as board memberships.

Lesley is on the Boards of Old Mutual Alternative Risk Transfer Limited (Board member and Chairman of the Audit, Risk and Compliance Committee), Old Mutual Alternative Solutions Limited (Board member and Chairman of the Audit, Risk and Compliance Committee), Old Mutual Unit Trust Managers (RF) (Pty) Ltd (Board member and Chairman of the Audit Committee), and Strategic Investment Services Management Company (RF) (Pty) Ltd.

Previously she was on the boards of BoE Link Nominees (Pty) Ltd (Chairman), Old Mutual Investment Services Nominees (Pty) Ltd (Chairman), SIS Nominees (Pty) Ltd (Chairman), and Old Mutual Health Insurance Limited (Board member and Chairman of the Audit & Risk Committee).

Until its re-organisation early in 2006, Lesley was an affiliate member of the Investment Performance Council, the global body responsible for developing, promulgating, and administering all of the CFA Institute activities regarding investment performance presentation standards. From September 2006 to October 2010, Lesley was on the CFA Institute’s Interpretations Sub-Committee. Between September 2011 and August 2015, she was on the Verification / Practitioner Sub-Committee of the CFA Institute.

Lesley was previously the Deputy Chairman of the Alternative Investment Management Association – South Africa Chapter, where she held the Regulatory seat.

She has also been an active member of the Compliance Institute of South Africa. Since 2013, Lesley has been a member of the Audit Committee Forum of the Institute of Directors of SA.