Compliance Monitoring Best Practices

Programme description & objectives

This program provides participants with compliance monitoring best practices. Anchored by a versatile compliance specialist and professional, the program effectively covers relevant and contemporary regulatory frameworks and guidelines. The course would enhance and enable participants’ organization of monitoring activities in a comprehensive, planned, and flexible manner. Such capabilities provide necessary allowances for changes in the internal and external operating environments. After the program, it is expected that participants would be able to develop realistic and documented assessment of the compliance risks faced by their respective organizations. Also, the competencies taught and passed on by the facilitator would ensure that delegates are able to take the right actions. The course is highly interactive and hands-on, combining real life scenarios, case studies and clear examples.

Venues, Dates & Cost

Venues	Dublin	London	Dubai	Edmonton (CAN)	Lagos/Abuja
Dates	TBD	TBD	TBD	TBD	TBD
Cost	$3,900 per participant (USD) (=N=)

For Whom

Compliance Managers & Risk Managers
Managers in Loans & Advances Departments
Auditors & Commercial Lawyers

Compliance – Compliance Risk Assessment & Compliance Risk Appetite

Foundations
- Introduction & overview
- Responsibilities of compliance in your organization
- What might go wrong, and what would happen if it does?
- How effective are existing compliance controls?
- Defining compliance risk appetite and role of compliance function

Risk Based Monitoring Approach

Definitions & boundaries
- Definitions of risk and compliance risk
- Requirements for risk management
- Responsibilities of risk, audit, and compliance compared
- Dividing lines and synergies with other risk management disciplines
- Overlap and underlap – clarifying responsibilities
Integration with business
- Tools used by other risk management disciplines
- Role of the business as risk managers
- Compliance risk assessment process – group exercise

Compliance Risk Assessment Process

Assessment
- Some common compliance risks
- Assessing impact and likelihood
- Ranking the risks
- Capturing new and changing compliance risks

Developing a Risk-Based Monitoring Program

Program design
- Working from the risk assessment
- Balancing and managing compliance function resources
- Identifying information sources and gaps
- Creating the plan
- Execution, escalation, and record-keeping
- Building in new or changed risks

Who Does Compliance Monitoring?

Roles & responsibilities
- Activities already in place for compliance monitoring
- Balancing self-checking vs verifying others’ work
- Practical management information for traction and resources
- Management expectations – what they want vs need to know
- Simple presentation and clear focus
- Dealing with escalations
- Matching responsibilities to resources
- Effective budgetary negotiation

Researching the Risks Facing Your Firm

Syndicate exercise
- Categorizing compliance risks
- Prioritizing areas of impact and likelihood
- Building rationale for approach
- Preparing the monitoring plan

Preparing the Monitoring Plan

Structure & goals
- Defining KPIs and setting goals
- Establishing activities and populations for monitoring
- Deciding on monitoring tools
- Setting hurdle points for escalation
- Estimating resources

Reporting Results

Reporting & remedial action
- Typical report contents
- Layering information effectively
- Case studies – implications and remedial recommendations
- Remedial monitoring – enhanced checks
- Setting new targets and timescales
- Gaining buy-in for changes

Latest Regulatory Developments

Risk-based monitoring
- Risk based ARROW 2 approach
- Current hot topics
- How the risk register informs compliance
- Case study – identifying key risks from a regulator’s perspective