Risk Based Compliance Monitoring

Course Code:	RBM 1111
Dates:	On a date of your choice
Venue:	City of London
Course Fees:	Available on application
CPD Credits:	6 hours

Course Outline and Objectives

In today’s regulatory and economic environment, Compliance managers are under more pressure than ever to make sure they are targeting risks, and resources, as effectively as possible.

To make the right judgments about where to focus your effort in terms of monitoring compliance, you need to be able to answer the following questions:

How we did we take into account past trends?
What is a safe level of monitoring?
What are the best methods of monitoring different controls?
When is it appropriate to increase or increase levels of monitoring?
How are current high risk areas being captured through the monitoring programme?

This practical one-day workshop will help Compliance and Monitoring professionals identify the principle compliance risks in their business and design and execute a risk based compliance monitoring plan accordingly

Who Will Benefit?

This focused workshop has been designed to help less experienced Compliance and Monitoring staff develop their capabilities and skills and for more seasoned Compliance Managers to refresh and update their approach. It will also be of benefit to Risk and Audit professionals who wish to improve their knowledge of compliance risk management.

What You Will Gain

Making extensive use of practical EXAMPLES, CASE STUDIES and EXERCISES, this practical workshop will help you:

See through the regulator’s eyes: use the FSA’s risk assessment framework to inform your judgments and assess your firm’s risk profile
Effectively identify, categorise and prioritise compliance risks
Explore the use of Key Indicators for risks and controls
Examine monitoring techniques (desk based, exception reporting, systems, visits); and know how to select the most appropriate option
Determine when to escalate issues and change monitoring levels
Construct a comprehensive compliance monitoring plan that will prioritise risks and drive out resource requirements
Tailor your reporting to different groups to make sure critical messages are received and understood
Keep your programme up to date: respond to monitoring results emerging regulatory hot spots
Develop both your technical monitoring and ‘softer’ skills set: establishing credibility, obtaining buy-in, managing resistance

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Training Approach

This workshop is uses a combination of trainer input, knowledge sharing with interactive syndicate work and case studies. Group size is kept to a maximum of 16 to facilitate learning and the sharing of experience among the trainer and delegates

Workshop Leader: Paul McDermott

Paul has almost 20 year's experience in financial services, initially as an appointed representative and adviser, before moving into management and training roles with Friends Provident, Irish Life and Abbey Life. As Abbey Life’s regional training director Paul shifted his focus towards the development of competence across the financial services sector and has worked with a range of major firms in banking and wealth management (including Lloyds, AWD Chase de Vere, National Australia Bank, CIS, Dresdner Kleinwort Wasserstein) and the London Insurance Market.

As his career developed, Paul has become increasingly involved in regulation: leading the TCF proposition for a major investment bank, creating and running an MI and Reporting department and developing a nationwide management information programme that successfully passed scrutiny by the FSA. Few consultants can combine his depth of regulatory understanding and highly developed coaching and training skills. His dealings with the FSA also include ARROW visits, thematic reviews and risk mitigation programmes, all of which experience he uses to inform a lively and highly constructive approach to his work.

Programme Outline

Session	Aim	Content
The risk based monitoring approach	To establish a common understanding of this term	The definitions of risk and compliance risk The requirements for risk management The responsibilities of risk, audit and compliance compared – where should boundaries be drawn
Latest regulatory developments in risk based monitoring	To review the FSA’s approach and explore how the regulator's techniques can be applied in your firm	Risk based ARROW 2 approach Current hot topics How the risk register informs compliance CASE STUDY – using the profile of a typical firm identify the key risks from a regulators perspective
Researching the risks facing your firm	To identify the data within the firm that will inform your monitoring regime	SYNDICATE EXERCISE - categorising the compliance risks Prioritising the likely areas of impact and likelihood Building the rationale for your approach
Preparing the monitoring plan	To know how to create a plan that will reflect risk priorities and drive out resource requirements.	The structure of the plan Defining KPI’s and setting goals for the firm Establishing activities and populations for monitoring Deciding on the appropriate monitoring tools Setting hurdle point for escalation of issues and change sampling levels Estimating resources
Reporting results	To structure a report format that communicates the priorities.	Typical contents of the Report Seeing the “wood for the trees”- layering information CASE STUDIES - explaining the implications and recommending remedial actions
Remedial monitoring	To respond to results form monitoring and adjusting the compliance plan.	When enhanced checking becomes appropriate Setting and agreeing new targets and timescales Gaining buy in for changes

Also available to be run in-house. To book or discuss your requirements contact us now on 01327 858292
or e-mail info@ctp.uk.com

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 020 3170 5779.

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““The review of our T&C scheme carried out by CTP really tested our controls and showed us how to make the approach more efficient in a practical and business focused context.”
- Liz Cameron, Head of Direct Sales Compliance, Scottish Widows
“Very timely, excellent content, covered a lot in a short time.”
- by Nicky Christofides, Head of Compliance at GE Money
“CTP provided us with a versatile range of training services from e based testing to technical modules and skills training for our advisers and sales management. They work quickly to satisfy deadlines and think creatively to achieve sustainable results. ”
- Ian Lockhart, Sales Operations Director, Scottish Widows
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- David Statham, Group Internal Auditor, IGI Insurance
“Role play situations really helped to put the theory of the course into an understandable context that I could relate to.”
- Countrywide
“An excellent industry focused overview of the subject pitched at the right level for all attending. We took value from the day as a team.”
- Barclays Insurance Services Ltd
“Good structure, content and pace of learning”
- Group Compliance Manager, Clarke Roxburgh
“An excellent all round briefing with detail and in depth exploration where necessitated”
- Tim Sierwald, Audit Manager, Assurant Solutions
“The session really made me think about the how to apply the theory of Risk Based Management. Lots of great thought provokers and break out sessions were extremely useful. ”
- Anna Mansbridge, Business Quality Technician, Allianz Cornhill
“We commissioned CTP to undertake a competency review. They listened well, spoke our language, took time to understand our needs and provided a workable solution in a cost effective manner.”
- John Moffatt, Compliance Director, Riverstone
“Pitched at appropriate level with good mix of tell and activity based learning”
- Legal & General
“A difficult subject communicated effectively and in a relaxed manner. Thank you.”
- S J Fisher, Managing Director, Colemans
“CTP have a thorough understanding of the "regulation" … but more importantly the ability to … translate it into company process efficiently and with the minimum of fuss.”
- John Constable, Head of People Development, JLT Risk Solutions Ltd
“A very succinct and highly knowledgeable explanation and presentation of the subject”
- Duncan Howorth, Managing Director, JLT
“CTP very quickly got to grips with our requirements and tailored the course to meet our needs. We had a fantastic dialogue going with our management group. ”
- MD, Assurant Solutions
“CTP's training gave me a vital opportunity to consider the Arrow 2 process and has given me a head start in preparing for this important business event ”
- Simon McCulloch, Business Development Director, Countrywide
“The trainer had superb knowledge of our company, our industry, the regulator and communicated in 'plain English'. There was no jargon. An excellent day! ”
- Ceara Joyce, Head of Risk with Profits, Legal and General
“I found this event of great benefit. Trainer is fantastic. One of, if not the, best courses I have ever been on. Thank you so much.”
- Rensburg Sheppards
“This was fantastic - I would not hesitate to go on another of these courses in the future. Thoroughly recommended. Very good -knowledgeable & approachable”
- Harsa Charman, Liverpool Victoria
“Excellent course, useful practical tools given”
- Co-operative Bank
“Essential event for anyone attending an FSA ARROW visit meeting”
- James Cooper, Financial Controller, Locktons
“Very knowledgeable course leader who used his practical experience well.”
- By Derek Wood, Compliance Manager at Skandia UK
“Useful consideration of the compliance function in the round. Some good reminders and food for thought to help benchmark where our complaince function is.”
- By David Lingwood, Group Compliance Officer, IGI Insurance Co Ltd
“Corporate Training Partnerships have carried out two major projects for us involving consultancy, project work and training of a group of our managers. We were very happy with the results of their work which are standing the test of time.”
- Karen Martin, HR and Communications Director, Britannic Assurance
“I would strongly urge senior managers in the insurance industry to attend this course which really prepares you for FSA interviews.”
- Paul Williams, regional Managing Director, Folgate (Towergate)

Corporate Training Partnerships Ltd, London Office: 60 Lombard Street, London, EC3V 9EA. Tel: 0203 1705779
Milton Keynes Office: Suite 1:20, Second Floor, Norfolk House East, 499 Silbury Boulevard, Milton Keynes, Buckinghamshire, MK9 2AH Tel: 01908 488170

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