The Training Environment For Financial Services

Enhancing your effectiveness as a Compliance Professional

Course outline and objectives

The role of a compliance professional requires an extremely broad range of skills and the need to navigate conflicting requirements and incentives within businesses, adding value, protecting the firm and retaining the co-operation of staff and the tacit and explicit support of senior management. With the increasing regulatory burden, cost pressures and the advent of Artificial Intelligence, the pressures to deliver can be intense at all levels, especially in the ethics space.

This timely course intends to help ground compliance professionals in their regulatory and broader obligations and help them to use this grounding to understand how to self-assess their development needs to stay relevant and effective in a continually changing environment.

The focus will be on enabling delegates to understand how they can create actionable and value-added advice to their firms, manage their role in the governance process effectively, how to handle "logjams" and difficult individuals and how to create an "effective" compliance function that supports, rather than hinders, the business. It will also examine how delegates should continue to self-assess their own skills versus the compliance needs of their firms.

The course explores the regulatory requirements and obligations of Compliance staff, how these fit into the effective management of regulated firms and identifies several common issues or problems regularly encountered by Compliance staff, identifying strategies for dealing with these effectively using case studies and working examples, thus helping delegates to:

  • Understand the core requirements on compliance professionals, the interaction with Risk and Internal Audit and the importance of role mandates
  • Explore the role of the business in delivering compliance
  • Learn the differences between core (transferable) skills and the wider business competencies required to navigate your role
  • Understand the difference between policies and procedures and the skill sets required to draft effective ones
  • Grasp risk assessment - the criticality of being able to assess risk effectively as the bedrock of your competence
  • Deal with difficult issues and people
  • Develop a toolkit of techniques and approaches which can deliver maximum returns for a small, initial investment of time
  • Understand the impact of Artificial Intelligence on your role, including necessary skills for implementing AI projects within your firm
  • Identify AI tools that can enhance effectiveness for compliance officers and colleagues

Please note: this course will sometimes challenge accepted norms and values delegates hold regarding the performance of their role. The purpose of this course is to help delegates eliminate the unnecessary and focus on the key aspects of undertaking their role effectively.

 

 

Course Tutor

Gary Pitts is a consultant and trainer with 30 years of extensive expertise across the financial servies sector and his consultancy firm, Tetractys, operates in the UK and Ireland. His approach to consulting stems from the belief that, without good and effective governance, meaningful compliance with regulation is impossible. Gary is a well-regarded regulatory trainer in the UK delivering courses for CTP, The Investment and Savings Alliance and for his own client base. His clients include Solvency II insurers, hedge funds, private equity managers, wholesale brokerage, consumer credit and a variety of fintech/blockchain firms.

Gary began his career with one of the original UK regulators, Lautro, then the Personal Investment Authority and has since been Head of Compliance for international hedge funds and boutique investment banks. He has been a Director of regulated firms in the UK and South Africa and has been a regulated person in the UK (CF3/10/11 and SMF 16/17) since 2001, a PCF 15 in Ireland, a director of regulated entities in South Africa and a director of Luxembourg and Cayman-domiciled hedge funds, as well as an SEC and NFA registered compliance officer.

Gary holds Masters degress from Oxford and London Universities, a Masters of Business Administration from the Open University, is a Fellow of the Chartered Management Institute and an Associate of Chartered Institute of Securities and Investments. He has also completed the Said Business School's Cyber Security for Business Leaders Course, a number of AI-related courses and is training as an Expert Witness.

Course Programme
Session Content
Introduction
  • Introduction
  • Expectations
  • Outcomes
Core Requirements
  • Regulatory requirements on compliance professionals
  • Role within governance
  • What the rules mean for your broader obligations within the firm
  • Interaction with Risk and Internal Audit
  • Compliance mandates
Role of Business
  • What is the expected role of business in delivering compliance?
  • What does this mean for your role and how you undertake it?
Skill Assessment
  • Identifying core transferable skills
  • Identifying business/domain specific skills needs
  • How to stay up to date
Policies and Procedures
  • Making sure you understand the difference between the two
  • What do good policies and procedures look like?
  • What benefits do well-written policies and procedures offer compliance?
Risk Assessment
  • Why is this a fundamental skill?
  • What is a good risk assessment and it's value?
  • How to leverage this skill in your work
Financial Mathematics
  • Where does compliance intersect with financial mathematics?
  • What do compliance staff need to know to be credible?
  • What can compliance leverage from financial data?
  • How can you educate yourself?
Working With The Business
  • Returning to the respective roles of Compliance and the business
  • How can you get the business to take some of the strain?
  • How do you leverage business data?
Difficult Situations (and people)
  • Deconstructing difficult situations
  • Seeing the other perspective
  • Framing your responses/advice/approach
  • Identifying potential "bad" or difficult actors
  • Techniques for dealing with them
Developing Your Toolkit
  • What are the core tools for being an effective compliance officer?
  • What are the characteristics of effective tools?
  • Training as a core technique
Artificial Intelligence Overview
  • Key points for assessing the effectiveness of (and issues with) AI projects within the firm
  • Criteria you should apply to determine whether AI tools will be of use in your role
Available Guidance
  • Sources of support and guidance online
  • Useful reading material
  • Useful course providers

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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