Policies and Procedures

Which policies and procedures ("P&Ps") are required will depend on the type of business, what services are being provided, and the regulatory status of the business.A virtual assistant can assist your with some of the administrative tasks and research relating to the P&Ps. This will free up your internal team from tedious administrative work and increase their focus on facilitating compliance, developing regulatory strategy, and proactively planning for regulatory change.

Once you have identified which P&Ps your business require, you will need to identify who will prepare these.

Formulation
Virteffic can assist to reconcile your existing P&PS and to update  or draft the new P&Ps in accordance with your requirement, gathering information, and conducting research. As part of the process, Virteffic can liaise with the appropriate stakeholders in your business, and circulate the draft P&Ps for review, and update the same following receipt of any comments.

Implementation
Virteffic can also assist to co-ordinate the required board meeting or committee meeting (once the P&Ps are in agreed, final form), and present these to the board or committee for their consideration before implementation.

The purpose of the P&Ps is to help ensure a high level of client service, ensuring that the regulatory requirements are adhered to and whilst simultaneously minimising the business risk.

policy is a set of general guidelines that outlines how the business will tackle something. It should be a link between the vision, values, risk appetite and the day-to-day operations. 

procedure sets out the action plan for carrying out the policy, essentially a step-by-step instruction for how to complete a task. This is the final step in the policyprocess and procedure implementation. A checklist can form a helpful step-by-step tool.

Our Fees

The fees for our virtual assistant services varies. As has been noted, the role itself can vary greatly – and so the skill set and experience required. There are a few options available to choose from:

  • Flexible: No need to commit to a specific package – simply “pay-as-you-go” on a standard hourly rate. You will be able to request support from our team as and when you require assistance. This may be a couple of hours only as a one-off solution, or regular support as and when needed.
  • Fixed: A fixed fee package is available (minimum 20 hours per month for a period of at least 3 months to be carried out by the team ), which gives you a 20% discount compared to the flexible deal. Any additional hours worked that month will be charged at a standard hourly rate.
  • Specific: Our team will work collaboratively to provide the requested services under the standard Flexible and Fixed packages. You can opt to choose a specific virtual assistant who will be the sole service provider (at a premium rate).

The full terms and conditions will be provided with our fee proposal and subsequently confirmed in the service agreement.

How does it work? 

Virteffic will simply raise an invoice based on the agreed fee once the services have been performed, or raise monthly invoices for longer engagements. As a virtual assistant is not an employee, there will be no additional charges that would be payable if you hired an administrator, secretarial officer or personal assistant. Virteffic is transparent with its pricing and fees, and a detailed time sheet is always provided with the invoice.

It all starts with a call or a meeting for a free consultation. Virteffic take time to get to know you and the demands of your business so that we can find a solution to provide the support you need to do what you do best. After our consultation, Virteffic will summarise what we discussed and provide a detailed proposal of what services Virteffic will be able to offer together with fee estimate for your consideration. Once agreed, we will provide our service agreement (or use yours if preferred). At your discretion, we can also enter into a Non-Disclosure Agreement.

There are a range of regulations and legislative provisions that a business must comply with. The P&Ps help ensure a high level of client service, ensuring that the regulatory requirements are adhered to and whilst simultaneously minimising the business risk.

Regulatory Mapping, CMP and P&Ps
Regulatory Mapping, CMP and P&Ps

There is a range of regulations and legislative provisions affecting Jersey, that a business must comply with. Regulatory mapping, compliance monitoring, and implementation of policies and procedures are important to reduce regulatory and reputational risk and to avoid fines for non-compliance. Policies and Procedures The purpose of policies and...

Read More
policies and procedures
Policies and Procedures

There are a range of regulations and legislative provisions affecting Jersey, that a business must comply with. The purpose of policies and procedures is to help ensure a high level of client service, ensuring that the regulatory requirements are adhered to and whilst simultaneously minimizing the business risk.

Read More

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Contact Details

If you have any questions  please contact us:

Virteffic Limited

Norowsa

La Vallee de St Pierre

St Lawrence

Jersey JE3 1EG

E: tess@virteffic.com

M: +44 (0) 7797716461

W: virteffic.com

 

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Virteffic Limited (“Virteffic“) is not regulated or licensed under the Financial Services (Jersey) Law 1998, as amended (the “Financial Services Law“). Accordingly, Virteffic does not provide any regulated services and does not carry on any regulated activities which would require us to be a “registered person” under and defined in the Financial Services Law. Where it is necessary for such a regulated activity is to be carried out, you will be required to use the services of a firm that is registered under the Financial Services Law, to provide such services. Virteffic may provide certain secretarial support and administration services as a virtual assistant, however, the services are of an administrative nature only and your appointed company secretary and/or the directors of your company have full responsibility to ensure the accuracy of the work that Virteffic does for you, to have the final sign-off and to check the work before it is released, published and/or executed.