Duration: 3 days
Available: None Scheduled
Good compliance involves knowing the rules, the markets, products and transactions, but it also relies on being able to develop the ability to make swift recommendations based on a robust, reasoned argument. The ability to deal with individuals at all levels of your organisation is central to this, from those...
Good compliance involves knowing the rules, the markets, products and transactions, but it also relies on being able to develop the ability to make swift recommendations based on a robust, reasoned argument. The ability to deal with individuals at all levels of your organisation is central to this, from those in client and market-facing positions to those sitting in the boardroom. This module will demonstrate techniques for developing or enhancing such an approach within the context of realistic business scenarios and will discuss how to achieve a best in class approach to developing a compliance function.
The module will then go on to explore Compliance Monitoring - something that is easily done badly and is difficult to do well. This module will demonstrate how to conduct compliance monitoring in a way which will be compelling to regulators, senior management and auditors alike.
This module can be taken as a standalone course or as part of the whole Diploma in Compliance, AML & Financial Crime. The Diploma consists of four modules totalling twelve days of interactive workshop learning, interspersed by examinations and assignments.
Who is this for?
This module has been developed for compliance and financial crime professionals with between one and five years’ experience in Compliance or Financial Crime, but exceptions may be made in respect of applicants who have significant regulatory experience or similar experience in legal, audit, risk or other related functions.
The World-Class Compliance Function
- What is compliance and how do we make it truly effective?
- Who is responsible for compliance
- Compliance governance
- The independence of compliance
- The Compliance Programme and the Compliance Function
- The future of FinTech and what it means for Compliance
Influencing and Negotiation Skills for Compliance Officers
- The areas of a senior Compliance Officer’s work in which influencing and negotiation skills are required
- Key tips and techniques - using realistic scenarios
- Exercise: Apply these techniques in further scenarios
Identifying and Managing Conflicts of Interest
- What is a conflict of interest?
- Where can conflicts arise in my firm?
- Whose responsibility is it to identify and manage conflicts of interest?
- What should Compliance be doing to spot potential conflicts?
- What practical techniques can Compliance use to manage conflicts of interest successfully?
- Case studies: Extensive real-life examples from the trainer’s own experiences
Compliance Risk and Monitoring
- What is compliance risk?
- Group exercise: How to construct a compliance risk matrix
- Recent changes in the approach to monitoring
- Monitoring crimes – how monitoring teams get it wrong
- How to construct a risk-based compliance monitoring programme
- Surveillance systems – build or buy?
- Group exercise: Directional testing techniques
- Group exercise: Devising the right monitoring tests
Participants will leave this module understanding how to:
- Apply the principles underlying a world-class compliance function
- Use influencing and negotiation skills in practical scenarios
- Identify and manage a conflict of interest scenario
- Apply principles of compliance risk
- Develop a regulator-proof compliance monitoring programme.