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Risk Based Compliance Monitoring Programme

Learn how to identify, monitor and reduce the compliance risks that are key to your business

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A one-day compliance risk training

At Redcliffe Training we use numerous case studies with sessions including a considerable element of interactive class discussions. At each stage of compliance and risk training, the Director encourages delegates to question and test their knowledge to better understand course material.


  • The role of compliance in a financial services firm in 2024:
    • Oversight but NOT ownership
    • Acting as an Oracle
    • Quality control
    • Assurance
    • Challenge
  • The 2023 Three Lines of Defence model; risk now owned and managed by the relevant Senior Management function
  • The four-eyes approach
  • Regulatory expectations
  • Challenging the business
  • Creating the right culture
  • Defensive reporting
  • Ensuring effective systems and processes are in place
  • Ensuring that they actually work
  • Compliance as a partner not just “the enemy” 

Risk-Based Compliance Course: The Risk-Based Approach

  • Regular Compliance Risk Assessment – The Risk Taxonomy
  • Identify all key risks; a challenging process without firm-wide buy-in
  • Determine the frequency and impact of each using the heat method approach
  • Risk appetite statements – a key driver
  • Risk Monitoring – planning, controlling and managing
  • Allocate Risks into different categories:
    • Inherent
    • Residual
    • Reject
    • Accept
    • Manage
  • Oversee appropriate and effective controls and mitigants
  • Consider whether controls and mitigants are successful
  • Determine the acceptability of residual risks to the business 

Regulatory Expectations

  • Responsibility Map
  • Clear risk taxonomy
  • Clear accountabilities – especially ownership and management
  • Effective and user-friendly compliance policies and procedures
  • Training of key staff – defined, verifiable & effective programmes
  • Compliance risk management training covers SREP reviews
  • Risk and compliance training includes more comprehensive examinations
  • The impact of new legislation/guidelines
  • The importance of using key metrics & compliance KPIs
  • Placing the interests of the customer at the heart of the business
  • The impact of Principle 12
  • Clear supervision and governance
  • Testing procedures including stress testing and scenario analysis
  • Regulatory relations

Risk-Based Compliance in Practice

  • What are the critical activities?
  • Providing regulatory advice to the business
  • Compliance surveillance, reporting, and defined compliance metrics
  • Dealing with conflict clearing: personal account dealing, political contributions,
  • Handling registrations and designations
  • Examinations and desk reviews
  • Working with internal audit
  • Working with external audit
  • Working with regulators
  • Reviewing, developing, modifying and communicating procedure changes
  • This risk based compliance course investigates the concept of challenge (when necessary)
  • Position monitoring
  • Control oversight: Chinese wall, chaperoning, watch list, the restricted list
  • Communications with the public and electronic communications review
  • Anti-money laundering compliance and embargoes
  • Regulatory inquiries, complaints 

Structuring a Risk-Based Compliance Function

  • Creating an effective oversight system
  • Centralised vs decentralised structure
  • Risks inherent in each type of structure
  • What content knowledge should a compliance officer have?
  • What are the competencies of a successful compliance officer?
  • How big should the team be?
  • Managing compliance monitoring in a small firm
  • Integration of the various areas of compliance
  • Collaboration with other control areas of the firm
  • Finally, compliance risk training asks; how do you know if the compliance team is effective?

Current Hot Topics

Compliance risk management training concludes with the following:

  • The Senior Managers Regime – Industry-wide
  • Responsibility Maps
  • Taking “Reasonable Steps”
  • Cybercrime and Business Continuity
  • FCC & AML (Financial Crime Compliance & Anti-Money Laundering) – effectiveness of systems
  • Conflicts of Interest
  • Aggressive tax avoidance
  • Insider trading risks
  • Dealing with mistakes and supervisory lapses
  • Managing reputational risk fallout
  • Importance of keeping the regulator in the loop – as early as possible
  • Finally, risk and compliance training covers outsourcing and smart sourcing – a focus of recent regulatory attention

At Redcliffe Training our Compliance Risk Management course specialist experienced a fast-tracked career and much success early on with differing roles at Lloyds Bank. Making his way quickly to a senior management position within the private banking & wealth management division means participants gain first-hand knowledge directly via our trainer’s experience.

Headhunted to join a merchant bank at the main board director level, our trainer headed the private bank and the group risk management function. With forty-plus years dedicated to this industry, there’s nobody better suited for risk and compliance training delivery.

Our subject expert has worked as a freelance compliance risk training consultant since retirement. In addition, he works as an external Master Trainer at HSBC and Bank of China. He helped design their global flagship Risk Management Programme with the former, aiding its delivery worldwide over the last five years. Working with huge companies through partnerships, this trainer delivers extensive programs in the UK, USA, South America, Europe, Africa, Asia and the Middle East.

Risk and compliance training covers:
  • The importance of an effective compliance function
  • How to successfully employ a risk-based approach for effective resource allocation
  • The immediate impact of an effective compliance program
  • How to recognise the damage caused by an ineffective process
  • Appreciating good compliance must be embedded into the culture of an organisation (it can’t just be imposed)
  • The importance of keeping up with regulatory changes
  • Ensure processes are robust, effective and can be demonstrated to all stakeholders

  • Compliance risk management training is highly sought after. As a company, we have been the primary training supplier to two of the world’s largest banks, for many years
  • This is a core competency for us and we’re certain nobody delivers more effectively than Redcliffe Training
  • Sessions are by an acknowledged subject matter expert, with risk and compliance training delivered at the world’s largest trade finance bank
  • Our trainers aren’t simply ‘academics’ as opposed to long-serving industry experts achieving at minimum a senior management position
  • Our course director has been in the industry for over 40 years. He was a former main board director of a London-based merchant bank
  • Training is packed full of real-life case studies and discussion sessions. Delegate involvement is encouraged at all times
  • We are judged solely by our results and we are proud to say that participant feedback over many years has always been of the highest quality for compliance monitoring training

This is a comprehensive risk based compliance monitoring programme and as such, is a ‘must know’ for:
  • Anyone in a compliance, risk or support/challenge function
  • Senior and top managers seeking a better understanding of their responsibilities
  • Compliance & Risk Officers
  • Internal audit
  • Department Heads, Team Leaders & Supervisors
  • Anyone with an interest or whose roles and responsibilities involve compliance and/or risk oversight will benefit from compliance risk management training

Compliance monitoring training at Redcliffe covers the necessary information required to further progress. Courses can be fully personalised upon request and delivered to your team accordingly.

Under the SMCR, risk management is now very ‘personal’ across the whole regulatory financial services industry; the concept of ‘risk ownership and management’ resting with the SMF, has changed the role of compliance and it’s important to remain current.

Regulatory compliance requirements have grown exponentially in recent years, now touching almost all operational areas. Compliance has become extremely complex and expensive with extensive new regulations, multiple overlapping information sources, and operational impacts that are difficult to identify and track. Financial Institutions typically manage compliance workflows manually. As a result, compliance and operational costs are high, compliance requirements and timelines are missed, exam and audit exceptions occur and liability risk increases. Compliance risk management training and the relevant attributes should be in place before things escalate to this point.

A risk-based approach to compliance involves identifying high-risk areas within your organisation's compliance universe and building and prioritising your investment compliance monitoring program around these risks. Compliance risk training focuses your organisation and compliance resources on the areas most likely to cause concern. This risk-based approach also re-positions compliance from a function executed in a vacuum to one that provides real value and reaches into each part of the business supported by relevant analysis, understanding and documentation.

Have this course presented In-House

  • On a date, time and in a location of your choice
  • Topics expanded or deleted to your bespoke requirements

Have this course pre-recorded

  • Full course recording edited exclusively for your company
  • Files converted to enable housing on your LMS
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