It is a regulatory requirement for all firms to establish and maintain effective systems and controls. These controls ensure that firms are managed effectively and responsibly in Compliance with all applicable laws and regulations.A robust Compliance Monitoring Programme (CMP) should support effective Corporate Governance and mitigate Compliance risk. It is...
It is a regulatory requirement for all firms to establish and maintain effective systems and controls. These controls ensure that firms are managed effectively and responsibly in Compliance with all applicable laws and regulations.
A robust Compliance Monitoring Programme (CMP) should support effective Corporate Governance and mitigate Compliance risk. It is essential that the monitoring programme is implemented effectively and that it produces accurate and timely data to measure programme performance.
CCL have developed this workshop to meet the needs of Senior Managers and Compliance professionals who require a comprehensive analysis of the key elements of a Compliance Monitoring Programme (CMP). This workshop style programme provides a practical guide to assessing the appropriateness and effectiveness for existing systems and controls. The programme has been designed by CCL trainers and consultants who have over 50 years' experience as Consultants, Compliance Officers and Regulators.
Who is this for?
The course will be of considerable value to Money Laundering Reporting Officers and Compliance Officers with at least 2 years relevant experience and who wish to cement their understanding of the topic with a sound practical grounding.
Roles & Responsibilities
- Role of Senior Management
- Dedicated Compliance Officer
Scope of the Programme
- Considerations – type of firm, products
- Identify relevant rules, regulations and laws
- Assign risk rating & frequency of review
- Define objectives
- Areas to test, including:
- Corporate Governance
- Senior Management Arrangements
- Systems & Controls
- Authorised Individuals & employee suitability
- Conflicts of Interest
- Communications and marketing
- Client acceptance process
- Regulatory returns
- Dealing Rules
- Documentation & Record Keeping
The CMP Report
- Details of testing
- Summary of findings & recommendations
- Address previous issues
- Management review & sign-off
- Training & education
- Internal communication
- Responding to breaches
After attending this course, participants will:
- Understand the roles & responsibilities of Senior Management and the Compliance function in designing and implementing an effective Compliance Monitoring Programme
- Be aware of relevant regulations, considerations & risks that will affect the scope of the Programme
- Know which areas of the business need testing & how this testing should be conducted
- Understand the importance of record-keeping
- Be able to prepare a Compliance Monitoring Programme Report