Compliance

Start Dates: TBC

Duration: 1 Day

Full Fee: €600

Network Members Fee: €350

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Programme overview

This course examines and explains the responsibilities of the board and senior managers, compliance heads, paying particular attention to the minimum expected requirements.The course will consist of workshop sessions supplemented by case studies drawn from real life examples or practical experiences.

Learning outcomes

The objective is for participants to gain an appreciation of their risk management and its relevance to their business.  This will enable them to develop proactive solutions to the needs of their business unit whilst also meeting the demands of the risk management framework and other bank objectives.

Who is the course for?

  • Board Members
  • Executive /staff
  • Non Executives
  • Senior Bankers
  • Senior Audit & compliance staff

Modules

Session 1: Introduction

  • The role of the Board
  • The role of senior Executives
  • The role of non-executives
  • The role of compliance
  • The role of internal audit
  • The Senior Managers Regime
  • Corporate governance and the creation of a risk culture

Session 2: Senior Management Responsibilities

  • Empowerment of risk management
  • Statement of Responsibilities
  • Risk reporting and the understanding of risk
  • The three plus two lines of defence model
  • Creation of risk management policies and procedures

Relevant Exercise/Case Study

Session 3:  The Role of Compliance and the Compliance Officer

  • Active risk management and monitoring
  • An active co-owner of risks to provide an independent oversight of the control framework.
    • Generating practical perspectives on the applicability of laws, rules, and regulations across businesses and processes and how they translate into operational requirements
    • Creating standards for risk materiality (for example, definition of material risk, tolerance levels, and tie to risk appetite)
    • Developing and managing a robust risk identification and assessment process/tool kit (for example, comprehensive inventory of risks, objective risk-assessment scorecards, and risk-measurement methodology)
    • Developing and enforcing standards for an effective risk-mediation process (for example, root-cause analysis and performance tracking) to ensure it addresses root causes of compliance issues rather than just “treating the symptoms”
  • Establishing standards for training programs and
  • Ensuring the front line effectively applies processes and tools
  • Approving clients, transactions, and products based on predefined risk-based rules
  • Performing a regular assessment of the state of the overall compliance program
  • Understanding the bank’s risk culture and its strengths as well as potential shortcomings

Relevant Exercise/Case Study

Session 4:  How does the board over-see compliance?

  • Reports
  • Feedback
  • Regular meetings
  • Internal audit
  • Control mechanisms
  • KRI, KPI’s and other metrics

Relevant Exercise/Case Study

Session 5: Who sets the rules and who publishes best practice guidelines?

  • Regulators
  • UN, EEC , USA – OFAC
  • BIS – Basel
  • Local Jurisdictions
  • FATF, Wolfsberg Group, Transparency International, Egmont Group

Session 6: AML & CTF

  • What is Financial Crime
  • How does it differ from CTF
  • The role of compliance
  • Creating an effective AML & CTF process
  • Policing that process

Relevant Exercise/Case Study

Session 7: A Risk Based Approach

  • What does this mean
  • How does it drive sign off, CDD, review processes & transaction monitoring
  • Enhanced Due diligence – what does this mean
  • Constructing a formula to pre categorise potential clients
  • Client types, Lines of business, Products used, Delivery channels, Geographic location, Occupation
  • Mandatory high risk clients
  • Intra –risk migration
  • Escalation & whistle blowing

Relevant Exercise/Case Study

Session 8: Bringing it all together

  • How does an effective system work
  • How should a Board oversee this

Trainer Profile