How to become a WSANDN Representative.

Collaboration May 15, 2022 Add to Reading List

If you are aspiring to become a WSANDN Representative, you're undoubtedly in pursuit of a rewarding and fulfilling career. Representing WSANDN offers a unique platform where you can showcase your skills, drive positive change, and serve as a catalyst for empowering communities. To embark on this exciting journey, it is essential to understand the core qualities that WSANDN seeks in its representatives. WSANDN values individuals who possess excellent communication skills, a passion for making a difference, and a commitment to upholding ethical standards. As a representative, you will promote and uphold the principles of WSANDN, such as peace, equity, human rights, growth/development and fostering cooperation among various stakeholders. WSANDN Representatives are required to always stay updated with the latest trends, research, and developments in the relevant fields related to the work of WSANDN, to better understand the challenges their constituencies /communities face and develop effective strategies to address them.

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What is WSANDN Representative?

A WSANDN Representative is a registered limited liability, charity, non-profit organization or public liability company, which is given the right to serve an exclusive ambassador of the WSANDN to their respective communities. The entity is granted the sole authority and responsibility to represent and act on behalf of WSANDN in a specific area or region. A Representative is chosen based on their expertise, knowledge, and ability to effectively promote and advance the courses of WSANDN within their local constituencies, serving as the primary point of contact for communities, stakeholders and partners within their designated territory, ensuring that all inquiries, requests, and activities are handled efficiently and professionally according to issued guidelines.

To be qualified as a WSANDN Representatives, a company must have a minimum of 3 directors, irrespective of the company/organisation’s structure.

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Who is eligible to operate as WSANDN Representative?

WSANDN Representatives are only chosen from local organizations and companies, established and operated by locally based individuals, groups of individuals, community development associations, charities, non-profit or private corporate entities.

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Accreditation And Oversight

The WSANDN Department of Representative Management oversees all WSANDN Representatives and periodically releases guidelines with relation to their registration, onboarding, operation and administration.

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Categories of WSANDN Representatives

For the purpose of equity and effectiveness, all WSANDN Representatives operate in hierarchies as one body irrespective of the tier. There are 3 categories of Representation an applicant may apply for. They are:

a. Tier 1 WSANDN Representatives:

A Tier 1 Representative is authorized to operate exclusively in a local government/ local council area, and is not allowed to open any offices outside the approved jurisdiction. All Tier 1 Representatives report to Tier 2 Representatives.

b. Tier 2 WSANDN Representatives:

A Tier 2 is a subnational state or provincial level WSANDN Representative, authorized to operate exclusively in one State or Province or a National Capital Territory NCT. It is authorized to provide oversight to all Tier 1 Representatives within the designated territory.

c. Tier 3 WSANDN Representatives:

A Tier 3 is a National WSANDN Representative authorized to operate in a nation. It is authorized to provide oversight to all Tier 1 Representatives within the designated territory. All Tier 3 Representatives report directly supervised by the WSANDN Department of Representative Management.

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Application Procedure

Application for a WSANDN Fund Custodian is as follows:

A. Pre-Approval:

Application for accreditation to operate as a WSANDN Fund Custodian should be sent to The Global Director of The Department of Fund Management. The Application should be accompanied by the following documents:

1. Evidence of payment of non-refundable application fee to the WSANDN Account.

2. If applicable: Evidence of capital contribution made by each shareholder;

3. Evidence of fully refundable bond deposit to the WSANDN Account;

4. Certified true copies (CTC) of Company Registration

5. Detailed operation plan

6. Copy of the company’s constitution or governing document or Memorandum and Articles of Association

7. If applicable: Shareholders’ agreement providing terms for disposal/transfer of shares as well as authorization, amendments, waivers, reimbursement of expenses;

8. If applicable: Detailed Company Policies

9. If applicable: Duly signed resume and valid means of identification for the shareholders.

10. Board composition, directors’ duly signed resumes and valid means of identification

11. Evidence of location of Head Office (rented or owned) for the take-off of the operations.

12. Evidence of ability to meet technical requirements and modern infrastructural facilities such as office equipment, computers, telecommunications, to perform operations and meet other regulatory requirements

13. Copies of letters of offer and acceptance of employment in respect of the management team

14. List of proposed top management staff and duly signed resume stating their qualification (including photocopies of academic and professional credentials), experience, records of accomplishments and valid means of identification

15. As a requirement, the WSANDN Department of Representative Management will conduct an inspection of the premises and facilities of the proposed Representative to determine its compliance with the relevant requirements.

Following the receipt of an application, the WSANDN Department of Representative Management will communicate its decision to the applicant within 60 days either approving or denying the grant of the application.

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B. Final Approval:

Upon readiness to commence operation by the Representative, it will inform the WSANDN Global Department of Representative Management in writing and submit same with a copy of the following information:

1. If applicable: Shareholders’ Register;

2. Opening statement of affairs signed by directors and external auditors;

3. Risk Management Framework

4. Internal control policy

5. Minutes of pre-commencement board meeting;

6. Evidence of ability to meet technical requirements and infrastructural facilities in office equipment, computers, telecommunications, to perform operations, render regulatory reports, respond to the Department of Fund Management’s requests and handle customer complaints quickly and efficiently.

7. Board and board committee charters stating the roles and responsibilities of the board and sub-committees.

8. Evidence of location of Office(s) (rented or owned) fully branded with the name and logo of the WSANDN for the take-off of operations.

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Financial Requirements for WSANDN Representative