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GM: Risk Management & International Online Services at LexisNexis
Responsible for the LexisNexis Risk Management business in South Africa. Solutions cover ProcureCheck, Public Records, RefCheck, WinDeed and LexisDiligence, and are marketed and sold to the professional, governmental and legal markets in South Africa.
Specialties: Risk information & data; Credit; Anti-money Laundering; Procurement vetting; KYC; FICA; Re-ID; Foreign Exchange
While there is a lot of uncertainty during this lockdown period, one factor remains consistent – business cannot come to a complete stop. Therefore, it is imperative that procedures – including that of recruitment – evolve to adapt to the new global reality.
Two things that could seriously destroy your organisation’s reputation and credibility are conflict of interest and supplier misinformation. These have always been threats to business but now, in the midst of the global Covid-19 pandemic, the need for transparency is greater than ever as the business world anticipates an uncertain future.
Stats SA reports that 28% of businesses surveyed had decreased working hours, with close to 20% laying off staff in the short term¹, as a direct result of the COVID-10 national lockdown in South Africa. While some businesses deemed non-essential are able to continue operating with employees working remotely, aided by laptops and WIFI or mobile internet connectivity, the economic downturn has meant that even those working through the lockdown may not receive a full salary cheque come month end, with over 85% of South African businesses reporting turnover below the normal range. Going forward, lenders and businesses will need to be diligent in all vetting processes to protect themselves against both defaulters and potential fraudsters.