Risk Based Compliance Monitoring for Financial Institutions
Course Summary:
This intensive half day course provides a practical, hands-on workshop for both the seasoned and less experienced Compliance professional. The workshop focuses on what you need to do to demonstrate an effective Risk-Based Compliance Monitoring Programme (“RBCMP”).
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Details:
| Date | Time | Venue |
| Tuesday 19th June 2012 |
9.00 am to 1.00 pm |
Camden Court Hotel, Camden Street, Dublin 2 |
| Tuesday 11th December 2012 |
9.00 am to 1.00 pm |
Camden Court Hotel, Camden Street, Dublin 2 |
Cost:
|
€380 per attendee |
19th June 2012 |
11th December 2012 |
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What Others Say: Testimonials
Course Content
|
Do you know that (i) 34 Irish firms have entered into settlement/disciplinary agreements with the Central Bank; (ii) Risk-based Compliance Monitoring Programmes (RBCMP) are required by the Financial Regulator under MiFID, the Consumer Protection Code, the Investment Intermediaries Act, Solvency II and other regulations; (iii) The Enforcement Division of the Central Bank estimate that 60% of their work will be 'pre-defined' enforcement (i.e. process weakness)? |
With the advent of its new supervision and enforcement regime, the Central Bank is demanding that firms demonstrate compliance with applicable rules, codes & laws. Other examples of the Central Bank's power in this area include: (a) inspection visits; and (b) its right to compel firms to furnish a Compliance Statement either generally or in relation to a specific area. Consequently the regulatory responsibilities and the management demands placed upon Compliance professionals have escalated sharply.
One of the best ways to help demonstrate your firm's compliance with, not just rules, codes & laws, but also your contractual obligations under service agreements, is by implementing a RBCMP. A properly designed and structured RBCMP will help your firm identify gaps between (1) its obligations and (2) its performance against those obligations, while at the same time demonstrating the value-added benefits of your Compliance Function.
The following topics will be covered in the course:
- Setting the regulatory context
- How to conduct a risk-based assessment of your firm’s business
- How to build your compliance plan and RBCMP
- The stakeholders
- Learn how to draft your findings to address the information requirements of each of your stakeholders. The trainers will relate their own personal experience and judgments gained from their time as Consultants, Compliance Officers and a Regulator to give you an insight into how best to present your compliance monitoring results and findings.
- Open Forum, questions and closing remarks – in this session we will deal with a range of topics including:
- (a) soft skills – how to obtain buy-in from your directors and operational colleagues;
- (b) how to apply the skills learnt today to the monitoring of third parties and subsidiaries;
- (c) open forum for attendees to discuss their own specific approach to compliance monitoring;
- (d) ask all those questions that you didn’t raise earlier in the day; and
- (e) closing remarks.
Who should attend?
Compliance Officers, Directors, Senior Management and Internal Auditors of: (a) credit institutions and all investment business firms (e.g. investment management, fund administration & intermediaries) and (b) insurance firms.
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