Start Dates: TBC
Participants will learn the overarching reasons and background to the proposed introduction of this regime and where it currently stands. The course will outline the international equivalents and the impacts to date. Fundamental to this course is an understanding of each individual’s responsibility and exposure under this reform. The course will look at the approach being taken by the regulator and the fundamental changes that need to occur to ensure that both your company and you yourself are prepared for this new scenario.
At the end of this course, attendees will:
▪ Understand the Senior Executive Accountability Regime (SEAR)
▪ Know the background and reasoning behind the introduction of this reform
▪ Have a greater understanding of the importance of the 3 C’s of Conduct Risk – Conduct, Culture and the Client and the ability to avoid issues leading to accountability when these attitudes are changed.
▪ Realise the link between SEAR and other reforms such as F&P or those relating to Conduct Risk
▪ Be familiar with the approach of the Central Bank of Ireland to SEAR and the process now in play
▪ Understand the equivalent regulatory measures in place globally and see the implications to date
▪ See the steps needed to ensure that SEAR is understood and that the business is ready for it.
▪ Develop their ‘SEAR Map’ – To illustrate what is next for them in their own particular situation
Who is the course for
This course is designed for executives, management and senior staff who could be deemed to be held accountable by the relevant regulatory authority (CBI in Ireland) when regulatory breaches or contraventions occur. This process will sit alongside other regulatory instruments such as Fitness and Probity (F&P) and Wholesale Market Conduct Risk (WMCR) / Securities Market Conduct Risk (SMCR)
1. Introduction to SEAR
– What is SEAR?
– The role of the Executive and the Board
– Tone from the Top
– Effect on Financial Services & Other businesses
2. Background & Reasoning
– Historic Events in Irish Financial Services
– Regulatory Attitudes and Evolution of Oversight
3. Conduct Risk
– Conduct Standards
– What effective Culture looks like?
– Case Study 1
4. Link to other Reforms
– Re-establishing Trust – Behaviour and Trust Review
– Fitness & Probity
– CBI Behaviour and Culture ReportSenior Executive Accountability Regime
5. Global Equivalents
– UK Senior Managers and Certification Regime (SMCR)
– BEAR in Australia
– Hong Kong and Singapore
– Case Study 2
6. Steps to Preparing for SEAR
– Research and Understand
– Inhouse ‘Audit’
– Preparing a ‘SEAR Map’
– Delegation and Accountability
– Tracking and Quality Control
7. ‘SEAR Map’
– Key concepts – Senior Sponsor
– Structure and Sections
– Analysing GAPS
– Traffic Lights – Identify level of Risk
– Destination Planning
– Group Analysis
8. Central Bank of Ireland Approach
9. Conclusion – What’s Next?
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