The Training Environment For Financial Services

Compliance Monitoring under the FCA

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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 can you ensure and demonstrate the robustness of your controls?
  • What will be the new regulators' approach to risk assessment?
  • 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.

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

  • 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
  • Demonstrate the effectiveness of your controls to the regulator

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.

Course Agenda

Topics covered may include but are not limited to:

  • The risk based monitoring approach
  • Latest regulatory developments in risk based monitoring
  • Researching the risks facing your firm
  • Preparing the Monitoring Plan
  • Reporting results
  • Remedial monitoring
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