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Conflicts of Interest - A Practical Guide for Financial Institutions

2 Part Course  |  Learn the ethical and regulatory requirements, best practice guidelines and how they should all operate in practice.

A dark room with a spiral staircase at a place of shadows and secrets

A one-day COI training presented over two-half days in a virtual class

In-house pricing available – often more cost-effective for teams of 10+
pdf Download:   Course Outline

Part One

Latest news and recent regulatory action - Moody's ESMA fine & FCA fines, including Standard Life

What are “Conflicts of Interest”?

  • Definitions of conflicts of interest
  • Identifying and recording interests
  • How do these look in the workplace?
  • Conflicts of Interest by the Boards of Directors
  • FCA definitions & required policies
  • European Banking Authority (EBA) definitions and policies are included in this conflict of interest training
  • European Securities & Markets Authority (ESMA) definitions and policies
  • Types of conflicts
  • Identification & assessment
  • Managing conflicts
  • Disclosure
  • Recording conflicts
  • Different legal frameworks

Conflict of Interest (CofI) and Ethical Threats

  • What is Ethics?
  • The different types of Ethical Dilemmas
  • Ethical responses and conduct risk or TCF
  • Different approaches to ethics
  • Conceptual Framework
  • Threats and Safeguards

Examples: An invitation to the Opera, the scion of a wealthy client gets a job offer, and a client makes an offer in return for fee reductions.

Rules and Principle-Based Approaches

  • Rules-based approach
  • Principles-based approach – care re: who defines “principles-based”
  • Conflict and the FCA approach
  • ESMA approach
  • EBA approach
  • Joint ESM/EBA approaches

COI Training Example - As the manager, you face colleague resistance to a rules and principles-based approach.

 

Part Two

Ethical Conflict Resolution

  • Typical Conflict of Interest Policy
  • FCA/ESMA/EBA differences in approach
  • Gifts, sponsorship and hospitality
  • Definition and inclusions: conflict of interest in corporate governance and business
  • Mitigating actions: how to deal with a conflict of interest at work
  • Conflict of Interest Course Case Study – A key supplier offers to assist another supplier in return for expense payments. What level of expense is acceptable, if any?

Best Practice

  • How to make decisions on identified conflicts
  • The dangers of making a mistake
  • Conflict of Interest Online Training Example – The board has agreed to a root and branch review of Conflicts of Interest and Ethical issues. Now it's over to you.

Workshop – CofI in Practice

  • Practical dilemmas in the workplace
  • Key issues

Think Like a Compliance Professional

Course Conclusion

  • Summary, open forum, and wrap-up

Redcliffe’s conflict of interest course is delivered by a specialist with over four decades of experience managing risk in the UK's banking and financial services sector. With an impressive and accelerated career with Lloyds Bank, our specialist achieved senior management level within the private banking and wealth management division. From here he was headhunted by a merchant bank, joining at board director level. He headed both the private bank and the group risk management function.

Since retirement, he has made huge strides within a freelance career and is currently an external Master Trainer at both HSBC and Bank of China, delivering major projects on a wide range of topics. Helping to design HSBC's global flagship Risk Management Programme for senior middle managers, our expert has played a solid part in its delivery worldwide.

Conflicts of interest training courses are specialised in-depth sessions delivered to global giants, right through to small firms and partnerships. Our trainer is a time-served expert, taking him across the UK, USA, South America, Europe, Africa, Asia and the Middle East.

Highly adaptive, hands-on and widely sought-after, Redcliffe’s course facilitator gains excellent feedback from delegates with every session. Comfortable helping participants at any seniority stage, his expertise includes but is not limited to Risk Management, Trade Finance, Regulatory Compliance, FCC & AML and all aspects of Corporate, Private & Retail Banking. Our conflict of interest course leader is also highly experienced in soft skills delivery and has completed numerous “train the trainer” assignments.

  • Conflict of interest training enables you to formally identify in a risk-based manner, by assessing if conflicts are Actual, Potential or Perceived.
  • Highlight our ethical approach to conflict of interest and investigate why it’s critical.
  • Master the three major types of exposure to conflicts in a regulated firm and the challenges created by them.
  • Sessions cover the legal and regulatory frameworks.
  • Appreciate that the UK Regulators' default position states that every effort must be made to eliminate Conflicts of Interest where possible as the first step.
  • Why the ‘Disclosure and Client Consent’ approach is a ‘second step’ and MUST always follow concerted efforts to eliminate Conflicts of Interest; it should never be regarded as the ‘first step’ or the ‘default response’.
  • Conflicts of interest online training aids recognition of the need for a clear communication line between operations and senior management.
  • Recognising good practice and avoiding poor, sloppy and ineffective management.
  • Defining an effective and comprehensive COI policy.
  • Identify unexpected consequences or hidden conflicts of interest.
  • Identify the best responses.
  • Create a clear and auditable management method ensuring transparency.
  • Learn to think like a risk owner or compliance professional.

  • This Conflict of Interest training demonstrates how to make situations ‘business as usual’ without over-engineering the process or falling short of Regulatory expectations.
  • Session content is regularly updated based on current challenges and regulatory ‘hot buttons’.
  • As a core competency, Redcliffe Training has delivered this and other financial-related compliance courses for over 20 years to a wide range of global firms and businesses. We know our subject matter thoroughly.
  • We do not employ trainers. All specialists are highly experienced professionals with relevant qualifications and vocational experience in the real world and ‘on the ground’.
  • We have delivered many core governance, risk and compliance courses over recent years and have a very clear understanding of what ‘good and bad’ sessions look like. This means consequences, intended or not, of poor decision-making.
  • COI training includes highly interactive and enjoyable case studies to enhance learning points. All delegates report them as a high point.
  • Feedback is of consistently high standards and taken incredibly seriously. Our team understands the importance of input for future sessions.

Delivered live online or in person at an agreed location, conflict of interest training is a must know for:
  • Senior managers seeking to gain a deeper, more confident understanding of their responsibilities in this area
  • Compliance and Risk Officers
  • Department Heads, Team Leaders and Supervisors
  • Any front-line and additional team members operating in a financial firm where conflicts of interest pose a critical risk

With policy and procedure submissions found to be lacking, conflicts of interest are gaining increased regulatory scrutiny. In light of this, expert Conflicts of Interest training courses are now needed more than ever. The market is changing rapidly, with consolidation and restructuring becoming a regular occurrence. Both involve changes to business models, and firms must have a robust approach in place for dealing with any conflicts that may arise.

All too often, firms think that a generic policy and an empty register mean ‘job done’. Potential conflicts are often inherent in such arrangements and cannot always be prevented. Our sessions highlight that although conflicts may be present:
  • There’s evidence of proper thought and consideration of conflict by senior managers
  • Any conflict has been effectively managed and completely disclosed, and clients’ interests remain at the heart of your firm’s decision-making process
Conflict, particularly relating to governance structures and business models, often needs managing through a combination of measures depending on the firm, its staff and business model.

Note: Sessions cover the topic generally in an EU setting. For private or client-based delivery, it can be modified to make it more or less FCA-specific and more or less FVZF EBA/ESMA-specific depending on client requirements.

  • Everything was perfect. The trainer was excellent, highly experienced and qualified, presenting theory and practical exercises as well. The course was very useful, and the case studies were very enjoyable. There was a balance between theory and practical exercises.
  • Highly interactive and very enjoyable case studies to enhance the learning points. The trainer gave valid points when answering our questions, basing his answers on our specific situation, and giving us tips on how we could think in our organization.
  • I felt as if the trainer really gave valid points to us when answering our questions, basing his answers on our specific situation, and giving us tips on how we could think in our organization.
  • The balance between theory and practical exercises. Dynamic rhythm.
  • The trainer was excellent, highly experienced and qualified, presenting theory and practical exercises as well.
  • The practical tips given by the presenter were so useful for my work, including the work carried out by my team in the handling of COIs who also participated in the course.
  • The knowledge gained will certainly help me to navigate challenges more effectively and contribute more confidently to our work. It was an insightful experience, and the learner's vast knowledge, experience and humour made the topic less tedious.
Number of places:
Part 1

£ 695.00

Number of places:
Part 2

£ 695.00

Discounts available:

  • 2 places at 30% less
  • 3 places at 40% less
  • 4+ places at 50% less
  • Select the number of course places and dates to automatically calculate the discount
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