Risk Based Compliance Monitoring – Full Day






9:00 am - 5:00 pm

Course summary:

Within its supervision and enforcement regime, the Central Bank demands that firms demonstrate compliance with applicable rules, codes and laws. This is effected through consistently engaging in inspection visits as part of its PRISM system of supervision and also in utilising its right to compel firms to furnish a Compliance Statement either generally or in relation to a specific area. Consequently, the regulatory responsibilities and the management demands placed upon Compliance professionals have consistently increased.

One of the best ways to help demonstrate your firm’s compliance with, not just rules, codes and laws, but also your contractual obligations under service agreements, is by implementing a Risk-Based Compliance Monitoring Programme (RBCMP). A properly designed and structured RBCMP will help your firm identify gaps between

  1. its obligations and
  2. its performance against those obligations, while at the same time demonstrating the value-added benefits of your Compliance Function.

Compliance Ireland has developed this one-day training course that outlines best practice in creating and adopting an RBCMP. The trainer will outline best practice for simple documentation of the compliance risk assessment process as well as the actual monitoring process which will enable the participant to create useful management information.

Course content:

The following topics will be covered in the course:

  • setting the Regulatory context for you and your firm
  • the different types of risks that your business may face
  • risks that the compliance function should be monitoring
  • how to assess the firms risk appetite and looking at risk controls
  • how to assess these risks using different methodologies
  • Different monitoring stages including preliminary surveys, fieldwork, reporting, etc.
Who should attend?
  • Compliance Officers
  • Directors
  • Senior Management and Internal Auditors of (a) credit institutions and all investment business firms (e.g. investment management, fund administration & intermediaries) and (b) insurance firms.
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