The Role of the Compliance Officer

Course Summary:

The Role of the Compliance Officer in Ireland has changed dramatically.  Yet the responsibilities of the compliance staff are not defined in any Code, Rule or Handbook.  This course will help Compliance Officers establish the parameters of their roles and responsibilities and will provide practical tips on implementing the principles-based approach to regulation.

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Details:

Cost:

€620 for 1st attendee
€550 for 2nd attendee for same firm attending same day
(All training fees are VAT exempt)

Banks and Investment Firms 11th October 2012 Attendee 1 €620.00 EUR Attendee 2+ €550.00 EUR

Insurance Firms 8th November 2012 Attendee 1 €620.00 EUR Attendee 2+ €550.00 EUR

Alternative Payments:

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About the Course:

The trainer will guide you through matters of compliance not contained in the rulebooks but yet vitally important to the role of the Compliance Officer and building a Compliance Function, including:

(a) professional & personal responsibility of Compliance Officers and the boundaries of the Compliance Department;

(b) how to create a Compliance Charter (i.e. terms of reference);

(c) key areas for any Compliance Manual;

(d) what to consider when designing a compliance monitoring programme; and

(e) what the Central Bank expects from Compliance Officers and senior management.

• Central Bank and compliance – an examination of the key statutory requirements including regulatory objectives, strategy for 2011-2012, role of the Compliance Officer and the Controlled Function, (Supervision and Enforcement provided in Session 5), funding, the Financial Services Ombudsman and Compliance Statements and Certificates (Credit Institutions and Insurance Firms).
• The Conduct of Business rulebooks –for
  • Banks, fund administrators & trustees, other investment firms:  Codes of Conduct, UCITS/Non-UCITS Notices, & key aspects of MiFID, CRD and ICAAP for credit and financial institutions.
  • Insurance:    Industry Codes of Practice, the Insurance Mediation Directive, the Life & non-Life Directives, Reinsurance Directive and other regulatory insurance issues, including Solvency II.
  • This session includes an executive summary on the status of the Financial Services Action Plan and other EU directives in the pipeline and the directions these may take Ireland.
• The role of Compliance Officers in Irish financial services firms today –
  • (i) personal accountability & the boundaries of the Compliance Function;
  • (ii) structuring a Compliance Function;
  • (iii) what the Compliance Function’s terms of reference should include;
  • (iv) helping to create a ‘Compliance Culture’ within your firm;
  • (v) what your Compliance Manual should include;
  • (vi) the ongoing obligation to train staff; and
  • (vii) factors to consider when designing a compliance monitoring programme.
• Central Bank’s Supervision & Enforcement regime – the Central Bank’s ‘supervisory toolkit’, its new powers, how they will work, & a comparison to other regulatory systems to help see how the regulator will respond to breaches. The new impact metrics consultation paper CP49 will be examined.

Who Should Attend?

Compliance Officers and Directors of: (a) credit institutions and all investment business firms (e.g. investment management & fund administration) and (b) insurance firms.