Achieving Outcomes Based Regulation

Course Code:	5091
Dates:	On a date of your choice
Venue:	At a location of your choice
Course Fees:	Available on application
CPD Credits:	6

To discuss running this course in-house please contact us on 01327 858 292 or email info@ctp.uk.com

Achieving Outcomes Based Regulation Course Outline

"The new approach we have moved to is ‘outcomes-based’ and this is delivered through intensive supervision. This approach is centered on intervening in a proactive way. To do this we needed to operate entirely differently, changing both our philosophy of ‘what supervision means’ and our approach to and the use of resources." Speech 18th May 2010  Managing Director, Supervision, FSA

"This was an excellent day - very thought provoking with plenty of actions to take away."  Nationwide Building Society "Made you think and challenged you to consider real outcomes." IGI Insurance Company Ltd “Inspiring, qualitive and informing day bringing out the confidence to 'embrace' change in this ever changing regulated environment.” Just Retirement Management Services Comments from the "parent" of this course Applying Principles Based Regulation

Read Articles on PBR PBR - Whose idea was it anyway and Why? PBR- Current thinking and clues from TCF HOW to make the shift to Principles based regulation

OBR sounds all very well but the challenge is on the HOW. This one day event will:-

• understand regulators thinking on outcomes based regulation
• explore the options for changing your compliance approach;
• provide you with ideas for a process of make this important shift;
• consider the future risk of being second guessed by the regulator, and
• how to engage senior management in the process

Led by a highly experienced consultant who will take you through the concept, show you how to apply outcomes to principles and follow through to an outcomes based compliance approach. Not forgetting to have an audit trail that justifies the decisions should they be challenged in the future.

Who should attend?

Professional in Compliance and Risk will find this an invaluable experience to explore, in a structured environment with pertinent case studies, how the process of shifting from prescription to flexibility can work.

Equally valuable for senior managers who are responsible for systems and controls and who will be asked to make judgments about the “best” way to achieve the right results.

How delegates will benefit

This event will challenge some of the preconceived notions about Compliance and challenge you to think through the levels of process, controls and monitoring you have in place.

• See the opportunities for customers, your company and senior management in moving to outcomes based compliance
• Think through the drivers of the change from the regulators perspective and what they expect to achieve
• Explore a logical reliable process for shifting some activities to this approach
• Judge the comparable risks of shifting from an input to an output focus
• Are ALL the controls necessary and valid?
• Taking a risk – how to justify the decisions
• Engaging senior managers in the decision making process
• Consider how industry guidance fit into a OBR world
• Overcome senior management indifference/inertia
• Understand how to guard against challenge from the regulators of the future
  

Training Approach

This is a highly dynamic event with work undertaken in syndicates to address the challenges posed by the opportunity the FSA is proposing will help to streamline compliance and reduce costs. Delegate numbers will be restricted to a maximum of 12.

Workshop leader: Jayne Owen

Jayne has worked in regulation, in the asset management, private banking and retail sectors of financial services and as a compliance consultant to the industry with Ernst & Young. Since jointly founding CTP in 2001, she has lead numerous board events to help senior managers understand their responsibilities in relation to regulation and risk management. She uses a combination of technical knowledge with strong facilitations skills to enable delegates to gain the most from attending her training events.

Her commercial experience spans most aspects of financial services from sales and marketing to finance, risk management, planning and operations within regulated firms she therefore brings both a broad understanding of regulation as well as business acumen to bear on issues.

She is a Fellow of the Institute of Bankers, a member of the Securities Institute and an Associate of the Compliance Institute. She writes articles and is published on the approach to Training and Competence and speaks on the role of Approved Persons at conferences.

Programme Outline

SESSION	AIM	CONTENT
The Concept	To examine the FSA's approach, why the change and how it will impact us.	The driving force for change-Centre for Policy Studies? Efforts so far – one step forward, two steps back? The influence of the EU and MiFID changes that affect everyone Why outcomes not principles?
Where are the parameters?	To establish the legal standing of, Principles, Rules, Evidential Provisions and FSA and Trade Body Guidance	The powers of the FSA based on different statements Recent changes presented as a move to OBR Evidence that the FSA means what it says Current position and areas of opportunity
What is the opportunity?	To examine the areas where detailed rules have been removed and where the opportunities lie for adjusting the compliance approach	Areas of opportunity – information to clients, T&C,Complaints Handling A process for change – the risks and rewards Case Studies, based on current rules how could process be adjusted to achieve a compliant outcome?
A risk based approach	To consider the areas where a fresh outcome focused approach could pay dividends for the firm and for customers	Prime targets where process is more important than outcomes Building the risk based cost benefit analysis Focusing on outcomes Syndicate exercise – Using risk techniques indentify the key measures to monitor manage and evidence compliance
Engaging senior management	To recognise the challenge of engaging the board in the debate and decision making	What are the current challenges  How to overcome inertia/indifference The cost/benefit analysis
If you are challenged	How to satisfy yourself and the FSA that compliance with principles and rules has been achieved.	The audit trail Measuring outcomes Managing information Evidence of monitoring and remedial action

Money Back Guarantee
Corporate Training Partnerships offer a unique money back guarantee on all training courses. 

We guarantee our training workshops or your money back. If you are attending a CTP event and are not satisfied by lunchtime of the first day, simply turn in your training materials and you will receive a full refund. 

Attend one of our courses; then implement and use the strategies that you will learn and if you do not see measurable, tangible results in your performance then we do not deserve to keep your money - we will give you a full refund 

Also available to be run in-house, to discuss your requirements contact us on 01327 858292
or email info@ctp.co.uk

Corporate Training Partnerships - Championing the Compliance Culture

Booking

If you are interested in booking this course, or if you have any questions, please call call us on 01327 858307.