Course Overview
A comprehensive three-day course in compliance risk management designed for senior compliance officers of financial institutions, this course covers all aspects of an effective compliance program, including an analysis of the current regulatory environment and corporate governance principles; the culture, organization, policies and procedures of an effective compliance function; and, integration with enterprise risk management.
The course will also provide in depth training on significant compliance topics such as anti-money laundering, combating terror financing, anti-bribery legislation and foreign account tax compliance.
Key Course Highlights Include:
- Roles and responsibilities of the CCO
- Compliance’s place in the overall organization and the corporate governance and risk management structure
- Creating a sound corporate compliance culture supported by high ethical standards
- How to select, train and retain the right people
- Compliance risk identification, assessment and mitigation
- Developing scenario analysis, incident investigation and reporting, and compliance key indicators (KCIs)
- Establishing an effective and efficient regulatory tracking and change management process
- How to communicate and report effectively to senior management and the board
- Review of the current legal and regulatory environment
- Compliance with major international regulatory requirements
Course Outline
Day One
Session 1 – Risk Management and Compliance with Laws and Regulations
- Introduction
- Regulatory compliance and risk management – definitions, roles and responsibilities
- Principles of corporate governance
- The new international landscape and the interaction between laws, regulations and professional standards
- Benefits of an enterprise-wide compliance program
- Compliance Culture: why it’s so important and how to communicate regulatory obligations
- Policies, procedures and the code of ethical conduct
- Privacy and information security
- Management of confidential information
- Conflicts of interest
- The fair treatment of customers, suppliers and competitors
- Reporting ethical concerns
Session 2 – Governance, Risk and Compliance (GRC)
- What is GRC?
- How to identify, assess and control risks effectively
- Approaches to risk assessment
- Risk and compliance committees
- Compliance stress testing
- Reporting to senior management, board of directors and regulators
- Research in the Areas of compliance and risk management
- Developing an Effective Compliance and Risk Training Program
- Case studies: major compliance scandals and their root causes
Day Two
Session 3 – Risk and Compliance Regulatory Framework
- Bank for International Settlements
- Basel Committee on Banking Supervision
- Basel Capital Accords
- Regulatory Capital
- Principles for the Sound Management of Operational Risk
- Financial Stability Board
- Systemically Important Financial Institutions (SIFIs)
- Internal control and compliance frameworks
- Sarbanes-Oxley Act and similar legislation
Session 4 – Developing and Implementing an Effective Regulatory Tracking and Policy Management Process
- Developing a legislative and regulatory tracking program
- Developing a regulatory classification process mapped to your organization’s enterprise risk taxonomy
- Designing a regulatory change management workflow covering all steps from identification to final implementation
- Understanding roles and responsibilities in the regulatory change management workflow
- Conducting a business impact analysis to understand regulatory change impact on your business
- Mapping regulations to policies so that you know what policies to review when regulations change
- Developing an effective communication and training programs to ensure impacted associates are current with regulatory change
- Tracking and reporting action plans to ensure that changes have been made to policies and standard operating procedures:
Day Three
Session 5 – Anti-Money Laundering and Anti-Terrorism Financing Compliance
- Current situation and required tasks in the context of international anti-money laundering regulation
- Current regulatory requirements regarding international anti-money laundering
- Best practice in anti-money laundering in leading international banks
- On boarding and Know Your Customer (KYC) programs
- Account monitoring
- US sanctions programs
- Suspicious Activity Reporting (SAR) background and history
- SAR regulatory requirements
- SAR within the AML/CTF framework
- The SAR program and process: policies and procedures
- Risk and control assessment
- Case studies in money laundering and terrorist financing
- Feedback and process improvements
Session 6 – Anti-Bribery and Anti-Corruption (ABAC) and Foreign Account Tax Compliance Act (FATCA)
- Foreign Corrupt Practices Act (FCPA), UK Bribery Act and the growing number of international corruption regulations
- Bribery in business transactions
- Illegal or corrupt payments to government officials
- Applicability of the Act
- What does a corrupt act means under FCPA
- Who is governed under the anti-bribery provisions?
- How to shield your organization from corrupt practices
- FATCA historical background and context
- Key FATCA aims and objectives
- The impact of FATCA (Classification, Reporting, Withholding)
- Other significant international regulations
End of Course / Questions and answers
Who Should Attend?
This comprehensive three-day course is designed specifically for:
- Chief Compliance Officers
- Compliance Managers
- Anti-Money Laundering Officers
- Senior Management
- Directors
- Company Secretaries
- Corporate Governance Officers
