Outcomes
The International Context
- Understand the role and significance of international regulatory bodies such as the Bank for International Settlements (BIS), Basel Committee on Banking Supervision (BCBS), and Wolfsberg Group.
- Gain awareness of different international regulatory frameworks.
- Identify the importance of international and regional laws in shaping regulatory compliance.
Risk-Based Approach & Compliance Monitoring
- Learn about compliance with direct regulatory bodies' instructions and the importance of adhering to regulatory requirements.
- Understand the concept of legal compliance and the significance of complying with internal policies.
- Explore the independence of the compliance department and its location within the organisational structure.
- Gain knowledge of the organisational structure and its impact on regulatory compliance.
- Understand how a compliance department can be structured and its relationships with other departments within the institution, including Internal Audit, Legal, Risk, and the Chief Executive Officer (CEO).
- Identify the board's responsibilities concerning corporate culture, values, risk appetite, management, control, and senior management oversight.
Compliance Policies
- Understand the five stages of the compliance monitoring and examination process.
- Learn about the first stage: Request for Information (RFI), and its purpose in gathering necessary compliance-related information.
- Explore the second stage: Periodic Regulatory Reports and their significance in reporting compliance status.
- Understand the third stage: Regulatory Inventory Matrix (RIM) and its role in assessing regulatory compliance requirements.
- Understand the fourth stage: Regulatory Control Matrix (RCM) and its importance in mapping control activities.
- Learn about the fifth stage: Compliance Examination and its role in evaluating the effectiveness of compliance measures.
Compliance Risk Assessment
- Understand the purpose of a risk assessment in regulatory compliance.
- Learn about the frequency of risk assessments and the importance of conducting them regularly.
- Identify who should conduct the risk assessment and the role of various stakeholders in the process.
- Explore compliance risk assessments in practice and the methods used to assess and mitigate compliance risks.
- Gain knowledge of control types and functions and their significance in managing compliance risks.
- Define the concept of multiple controls and their role in strengthening regulatory compliance.
Target Group
Regulatory Compliance Officers in the following industries
- Banking Industry
- Insurance and reinsurance Companies
- Brokerage agencies
- Leasing and Microfinance Companies
- Lending Firms
- Exchange Houses and Money Service Business
Workers in the supervisory authorities e.g:
- Central Banks
- Financial Sector Regulatory Authorities
- Financial Intelligence Units FIUs
- Related Ministries and government bodies
- More
Workers at the (IT solution firms) who provide Regulatory Compliance Systems.
General Goal
0
Pre-requisites
0
Summary
This program will provide you how to manage correspondences with regulators, implement regulatory requirements, communicate with business lines to identify responsibilities and prepare action plans, and conduct examinations and reporting.
This program also explains the scope of the Compliance function compared to Internal Audit and Risk Management and provides you with the best practices regarding the location of the Compliance Department within the institution's organisational structure.
This program will teach how to manage regulatory compliance in a risk-based approach and implement the latest technologies and tools to monitor and report compliance risks and violations effectively.
Contents
The International Context
- Understand the role and significance of international regulatory bodies such as the Bank for International Settlements (BIS), Basel Committee on Banking Supervision (BCBS), and Wolfsberg Group.
- Gain awareness of different international regulatory frameworks.
- Identify the importance of international and regional laws in shaping regulatory compliance.
Risk-Based Approach & Compliance Monitoring
- Learn about compliance with direct regulatory bodies' instructions and the importance of adhering to regulatory requirements.
- Understand the concept of legal compliance and the significance of complying with internal policies.
- Explore the independence of the compliance department and its location within the organisational structure.
- Gain knowledge of the organisational structure and its impact on regulatory compliance.
- Understand how a compliance department can be structured and its relationships with other departments within the institution, including Internal Audit, Legal, Risk, and the Chief Executive Officer (CEO).
- Identify the board's responsibilities concerning corporate culture, values, risk appetite, management, control, and senior management oversight.
Compliance Policies
- Understand the five stages of the compliance monitoring and examination process.
- Learn about the first stage: Request for Information (RFI), and its purpose in gathering necessary compliance-related information.
- Explore the second stage: Periodic Regulatory Reports and their significance in reporting compliance status.
- Understand the third stage: Regulatory Inventory Matrix (RIM) and its role in assessing regulatory compliance requirements.
- Understand the fourth stage: Regulatory Control Matrix (RCM) and its importance in mapping control activities.
- Learn about the fifth stage: Compliance Examination and its role in evaluating the effectiveness of compliance measures.
Compliance Risk Assessment
- Understand the purpose of a risk assessment in regulatory compliance.
- Learn about the frequency of risk assessments and the importance of conducting them regularly.
- Identify who should conduct the risk assessment and the role of various stakeholders in the process.
- Explore compliance risk assessments in practice and the methods used to assess and mitigate compliance risks.
- Gain knowledge of control types and functions and their significance in managing compliance risks.
- Define the concept of multiple controls and their role in strengthening regulatory compliance.