Start Dates: TBC
Duration: 5 Months
Full Fee: €1,900
Network Members Fee: €1,330
This unit positions the traditional compliance function in the technologically driven Fintech environment. The unit initially differentiates Fintech /operating models from so-called traditional financial services providers, reviews the existing regulatory environment from a Fintech perspective, and details the Fintech authorisation models. Overlaying the broad compliance framework, the unit progresses to examine the compliance framework and regulatory risks in the context of a Fintech business model, for example: anti-money laundering (AML), data protection, safeguarding, and outsourcing risks. Finally, the unit focuses on fitness, probity, and conduct risks in a Fintech environment. Overall, the unit provides learners with the technical competence and operational perspective to effectively work (and manage compliance functions) within the contemporary Fintech operating environment.
On the successful completion of this unit learners will be able to:
Differentiate the technologically enabled business models of Fintech’s versus traditional financial service providers.
Understand the structure of the International, European, and Irish regulatory environment from a Fintech perspective.
Appraise the authorisation models for Fintech credit, payment, and electronic money institutions.
Analyse from an operational perspective the AML/CFT compliance and regulatory reporting risks in a Fintech operating environment.
Assess the compliance risks associated with date protection and the ethical use of personal data in a Fintech data driven operating model.
Identify the contemporary compliance risks in the safeguarding arrangements of payment and electronic money institutions.
Evaluate the regulatory focus upon compliance risks related to outsourcing of critical services by financial service providers.
Demonstrate an awareness of fitness, probity, conduct, and authorisation risks in an evolving Fintech environment.
Who is the course for?
The course will provide learners with the knowledge, skills, and competencies necessary to execute and scale risk and compliance functions in an environment of increasing partnerships in the Financial Services sector. Specifically focused on the Financial Services Industry, the course syllabi addresses the challenges facing the compliance function in a technologically innovative environment over the coming years.
Fintech’s versus Traditional Financial Service Providers
Examine the evolution and scope of Fintech – the technological enhanced provision of Financial Services – and differentiate Fintech business and operating models from traditional financial institutions.
The Fintech Regulatory Environment
Contextualise the current regulatory environment for Financial Services providers from the perspective of international standard setting bodies and the core European (Irish) regulatory authorities.
Fintech Authorisation Models
Assess the detailed authorisation process for Fintech credit institutions, payments institutions and electronic money providers in the context of contemporary Central Bank (Central Bank) and European Banking Authority (EBA) regulation and guidance.
Anti-Money Laundering Compliance in a Fintech Environment
Review the evolution of AML Directives and the subsequence transposition into national (Irish) legislation in the context of compliance and regulatory reporting in an innovative Fintech payments environment.
Data Protection in a Fintech Environment
Evaluate the compliance risks and regulatory focus on the protection, governance, and ethical use of personal and non-personal, data in an increasingly digitised Financial Services environment.
Analyse the contemporary compliance and regulatory risks, and best practice guidelines, in the safeguarding arrangements of Fintech payment and electronic money institutions.
Detail the Central Bank and EBA’s guidelines on the outsourcing and related mitigation of concentration, operational and systematic risks, of critical Financial Services by Fintech providers.
Fitness and Probity and Conduct Risk
Quantify the requirements of the Central Bank of Ireland’s Fitness and Probity Regime, and the specific Central Bank guidance on the specific requirements related to payment and electronic money institutions.