0 Part Course  | 
Book places now

Risk Based Compliance Monitoring Programme

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

Night view of a futuristic cityscape with illuminated buildings

A one-day course

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

Introduction to Compliance & Risk Management Training

  • The role of compliance in a financial services firm in 2024:
    • Oversight but NOT ownership
    • Acting as an Oracle
    • Quality control
    • Assurance
    • Challenge
  • Investigating the 2023 Three Lines of Defence model; risk now owned and managed by the relevant Senior Management function
  • Compliance risk training analyses 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” 

The Risk-Based Approach

  • Regular Compliance Risk Assessment – The Risk Taxonomy
  • Identify all key risks; a challenging process without firm-wide buy-in
  • This risk-based compliance course helps 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

  • This section of compliance monitoring training covers the 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
  • SREP reviews
  • Session includes more comprehensive examinations
  • The impact of new legislation/guidelines is covered within risk and compliance training
  • The importance of using key metrics and compliance KPIs
  • Placing the interests of the customer at the heart of the business
  • Risk based compliance monitoring training covers 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
  • Risk and Compliance training covers working with regulators
  • Reviewing, developing, modifying and communicating procedure changes
  • 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

  • Compliance and risk training covers how to create 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, this risk based compliance monitoring course asks; how do you know if the compliance team is effective?

Current Hot Topics

  • 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
  • Risk based compliance monitoring training concludes with outsourcing and smart sourcing – a focus of recent regulatory attention

At Redcliffe, compliance risk training is delivered by a time-served specialist with a lengthy and fast-tracked career in the finance industry. Experiencing early success with Lloyds Bank, our trainer worked through differing roles, quickly making his way to senior management, within the private banking & wealth management division.

During his tenure with Lloyds Bank, this trainer was headhunted to join a merchant bank at the main board director level. Here he headed the private bank and the group risk management function. With forty-plus years dedicated to this industry, there’s nobody better suited to deliver Redcliffe’s Risk Based Compliance course.

Having worked freelance since retirement, our dedicated expert works as an external Master Trainer at HSBC and Bank of China. He helped design their global flagship Risk Management Programme, aiding its delivery worldwide over the last five years. Working with huge companies to partnerships, this trainer delivers extensive risk and compliance training in the UK, USA, South America, Europe, Africa, Asia and the Middle East.

This Risk Based Compliance Monitoring training course 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 conclude compliance risk training

  • Compliance monitoring training is highly sought after and at Redcliffe, 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
  • Programs are delivered by an acknowledged subject matter expert, who has run similar compliance risk training sessions with 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
  • Sessions are packed full of real-life case studies and discussion sessions. Delegate involvement is encouraged at all times throughout risk and compliance training
  • We are judged solely by our results and are proud to say that participant feedback over many years has always been of the highest quality regarding this course

Compliance and risk training is a comprehensive programme at Redcliffe and 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 monitoring training

Compliance and Risk 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 with relevant risk and compliance training.

Regulatory 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 and risk training alongside all relevant attributes should be in place before things escalate to this point.

A risk-based approach involves identifying high-risk areas within your organisation's compliance universe and then building and prioritising investment around these. Our sessions focus your organisation and resources on the areas most likely to cause concern. Compliance monitoring training covers a risk-based approach and 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.
REQUEST CALL BACK

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
CLICK HERE TO REQUEST A FEE QUOTE

Have this course pre-recorded

  • Full course recording edited exclusively for your company
  • Files converted to enable housing on your LMS
CLICK HERE TO REQUEST A FEE QUOTE
Trusted By:

We use cookies

In order to show you courses tailored to your profession we use cookies.

To enjoy all the features of this website please accept.