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Uniquely Compliance: Compliance Risk Management

Learn how to effectively structure and lead the compliance function
  • For several years, the financial press has accounted news items of considerable and repetitive interest concerning securities fraud, ethical lapses, money laundering, conflicts of interest, and insider trading. More often than not, these cases result in loss of business, reputation, revenue, and importantly, trust.

    Furthermore, as regulatory authorities globally turn their attention to higher expectations in the control environment, the compliance function is quickly becoming an important driver in risk management strategies. From MiFID to Dodd Frank, financial services firms globally are strengthening their Compliance functions with stronger training, supervisory, advisory, reporting and surveillance, and control room resources to meet the intense regulatory scrutiny now expected.

     

    This Compliance Risk Management programme will help you obtain a deep understanding of and appreciation for the necessity of a strong and well-equipped compliance function within any financial services institution. Through lecture, class exercises, interactive participation, simulation, and case studies, you will review the need for financial services regulation; the markets, participants, institutions and instruments over which regulation proceeds; the use of the compliance function as a risk mitigator; the various methods and approaches to compliance with regulatory requirements; the establishment of a well-functioning compliance department; and the skills required to succeed as a compliance officer.

     

    Through the intense analysis of specific cases concerning insider trading, compliance and ethical lapses, money laundering, rule violations (both inadvertent and purposeful), you will obtain critical insights that will help you to reduce the risk of regulatory and compliance problems and foster a culture of compliance within you own organisation.

    Attend this topical 3-day course and learn: 

     

    • How to successfully structure and manage an effective compliance function
    • The immediate impact of an ineffective compliance program
    • The comprehensive loss of revenue, trust, and reputation resulting from a weak compliance environment
    • How regulatory changes can quickly impact your organization and bottom line
    • How to prepare for intense regulatory scrutiny and examinations
    • From multiple case studies that globally illustrate cultures of compliance and strong compliance departments

     

    This course has been specifically designed for the benefit of:

     

    • New Compliance Officers
    • Risk Managers
    • Control Function Managers
    • Legal Department Managers
    • Management Consultants
    • Equities Sales and Trading Desk Operations Managers
    • Fixed Income Sales and Trading Desk Operations Managers
    • Investment Banking Administrative Officers
    • Treasurers
    • Financial decision makers in corporations
    • Strategists

     

    Credited by GARP - Global Association of Risk Professionals (GARP)

     

     

    Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2. 

  • This course will be held using meeting rooms technology.
    Please contact learning@euromoney.com for more information

    All times Greenwich Mean Time (GMT)


    Day 1


    Setting The Stage

    Welcome, Introduction and Challenge

    Course Goals and Expectations: Introduction to Simulations, Role Plays and Interactive Exercises
    Interconnected and Intertwined: The Depth and Breadth of Risk Across the Spectrum.

    Alignment
    Where Do I Fit In: Compliance and its effective management through understanding the intricately related areas of risk management
    Enterprise Risk Management
    Liquidity Risk Management
    Credit Risk Management
    Operational Risk Management
    Compliance Risk Management
    Legal Risk Management
    Market and Portfolio Risk Management

    This module identifies the interconnectedness of risk across the firm from a financial services perspective. By review of the 2007-2008 financial crisis, we will tie the impact of the crisis to Compliance, Risk, and Control functions, and the response each made to tackle its aftermath. Through a detailed diagnostic, delegates will be able to gain insight into applying best practices in the management of Compliance and Control in a preventative and detective environment.

    10:45 to 12:45
    Interactive Online Group Simulation

    Utilizing an electronic team-based simulation, delegates will work together to identify mission, goals, objectives, strategies in a virtual game simulation facilitated by the instructor. Teams will learn the challenges of effectively defining mission, aligning it to objectives, resources, negotiating strategies and making decisions in order to accomplish a near-life challenging task.

    Simulation Debrief and Application to Compliance, Risk and Control Functions.

    As delegates apply the lessons of mission, strategy, negotiation, and decision making in the simulation, the instructor will apply each to that of the effective Compliance function.


    Governance and Compliance Organizational Structures
    Delegates will be review the best practices in building an effective Compliance Function. The instructor will analyze in detail COSO Framework, BIS White Paper on Effective Compliance, SIFMA, and Banking Standards Board documents on the effective Compliance
    Compliance Rubric

    After a detailed analysis of the major, best practices in building a Compliance Function, delegates will further investigate the detective and preventative functions within the Compliance function and the responsibilities in the three (3) layers of defence.
    Application: Identifying the best practices of an organizational framework for Compliance. Two case studies are reviewed in order to apply different structures used in varying types of financial institutions.


    Introduction to Behavioral and Cognitive Sciences Applied to Compliance and Risk Functions
    This introduction will review the second full day of the course in which delegates will see the cognitive and behavioral basis for compliance and ethics decision making.

    Who Are You: Online Personality Assessment. Conduct Risk and Compliance Culture are definitively intertwined in that conduct is not only a personal decision but also one influenced by the culture of the organization. Delegates will review their Big Five Personality Assessment while the instructor will provide insights into traits that lead to a healthy compliance environment.

    Day 2


    It All Begins With Why


    An investigation into the development of a corporate compliance culture built upon the emerging field of behavioral finance and behavioral compliance; introduction to the neuroscience that underlies behavior in a compliance environment
    End to End Compliance Development

    Development of the appropriate rubrics to build, maintain, and manage an effective end to end Compliance Programme

    Case Study: Misalignments and the escalation of inappropriate compliance systems.
    Through a globally applicable case study from a leading international journal, the Journal of Financial Compliance, delegates will analyze a real global bank’s failure to develop an effective Compliance culture, until a major reorganization, criminal cases, and an official investigation prompted development of one. In the end, it did not ever have to come to this, but it did. We will diagnose the causes, identify healthy structures and rubrics that could have supported the development of an effective Compliance culture.

    1045 to 1245
    Behavioral Finance, Cognitive Science, and Optimal Decision Making in Compliance and Risk


    The identification of behavioral finance concepts, cognitive science, and decision making will be explored in detailed in order to assist delegates in understanding and influencing decision making. With specific application to Compliance, delegates will be introduced to game theory, heuristics, and cognitive biases that impact compliance-centered decision making both for the front office and Compliance and Control functions. Although Compliance supports the business in compliance and regulatory guidance, often business lines as well as middle and back office personnel may make decisions that are not intended for fraud, but simply are out of compliance with a specific rule, regulation, law, policy, procedure or best practice. This module will utilize the areas of behavioral and cognitive sciences to help identify those things that will influence compliance decision making.


    Interactive, Electronic Simulation Exercise

    Continuation of the Behavioral, Cognitive and Compliance Culture Module through an instructor-guided electronic simulation that identifies the behavioral short cuts that we make in decision making. The module is further supplemented through video analysis of cognitive and behavioral issues that influence poor decision making with the goal of influencing improved Compliance-related decision making.

    Deep Dive: Financial Crime, Anti-Money Laundering and the Risk Based Approach

    This segment is devoted to the development of an effective anti-financial crime programme with an emphasis on anti-money laundering programmes. The exercise is conducted by a step by step methodology that includes the organizational risk profile; management risk appetite and tolerance, the client onboarding process; effective KYC and KYI methodologies, developing monitoring and surveillance systems and reporting; appropriate reporting and escalation; scenario testing; and decision making.


    It’s All About The Data.....and Of Course, the Decisions We Make Surrounding That Data!

    An introduction to the next day’s module on the effective use of metrics, communications, and negotiation between compliance


    Day 3


    The Appropriate Use of Metrics, Communications, and Negotiation
    Through an intensive investigation of unilateral, multilateral, quantitative, qualitative and predictive metrics in both content and financial areas as well as in compliance culture, we will review specific metrics and reporting that support an effective, interactive, and dynamic Compliance function in a financial services firm.


    Interactive Electronic Simulation
    Through a popular interactive online simulation, delegates will attempt to parse through data in order to learn effective strategies in data analysis. We will identify the most effective strategies learnt in the simulation to apply later in the day to further strengthen the effective Compliance function.


    Utilizing the lessons learnt in the data analysis simulation, we will apply them to development of effective reporting, communication and escalation in Compliance.

    Delegates will then build policies, procedures, and specific reports and metrics with application to their own firms.


    Bringing It All Together


    After identifying the best practices in Compliance for the first two days, through the international guidelines for effective Compliance; the cases studies and interactive simulations that reinforce the skill sets needed to apply those guidelines in a real world, practical setting, this module brings together the learning, insight and perspective to various functions within Compliance.

    • Developing an Effective Compliance and Risk Training Programme
    • Design and implementation of a detailed and effective Training Needs Analysis and Training Plan
    • Developing an Effective Compliance Risk Assessment Matrix Aligned to Mission, Strategy and Objectives

     

    Live Action Compliance and Risk Simulation: application of concepts through a multi-tiered compliance and risk simulation including role playing, break outs, data, negotiation, and resolution

    • Understanding the Business to Understand Compliance
    • Staffing: What Makes for An Effective Compliance Officer: skill sets; qualities; and experience
    • Best Practices in the Management of the Compliance Function
    • Emerging Compliance Issues Around the Globe
    • Compliance Resources and Tools

    Review, Comments, and Challenge


  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – 10/10 of the world’s largest banks have chosen us as there training provider and we have delivered training across the largest banks and have trained over 25,000 professionals.
    • Knowledge – our 100+ strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 25,000 events both in person and online, using simultaneous translation to delegates from over 99 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 4.2/5 on service and 4.7/5 on Coursecheck
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Mario Difiore

    After a 25 year career on Wall Street and the Federal Reserve Bank of New York, I entered the world of academia and training - and have never looked back.

    Biography

    The course director is Assistant Dean, Senior Advisor and Adjunct Professor, Gabelli School of Business, Fordham University, New York (Former Co-Global Head and Director of Compliance Training, Deutsche Bank AG, Commercial and Investment Bank) He joined Fordham’s GSB Administration, July 2010 after a 25 year career on Wall Street and the Federal Reserve Bank of New York. Prior to joining Fordham, he was Director and Co-Global Head of Deutsche Bank AG’s Compliance Training Group for the Commercial and Investment Bank (CIB), as well as the Head of Americas Compliance Training. He was responsible for one of the largest financial regulation and Compliance training programs on Wall Street. In addition to his career at Deutsche Bank AG, the course director was an Assistant Director at Ten Squared LLP, a medium-sized hedge fund, as well as the Continuing Education Manager for Prudential Securities. He began his career with the Federal Reserve Bank of New York where he spent over 12 years in the Research and Statistics, International Affairs, and Public Information areas. In addition to his current university post teaching at Fordham, he has taught Finance, Economics, and Business courses at New York University, Baruch College of the City University of New York, Pace University, SUNY Empire State College, and the Mountbatten Institute (St. Mary’s College of the University of Surrey, UK). He is a former member of the Securities Industry and Financial Markets Association (Continuing Education Committee) and serves as a consultant to Deutsche Bank AG. The course director received his MBA and BA (summa cum laude) from Fordham University.