Certified Compliance Analyst (CCA)

Introduction

In recent years the role of compliance has rapidly evolved to become a critical, and often mandatory, organisational function. The role has a distinct responsibility to mitigate tangible risks, particularly in an environment of tightening regulatory controls and heightened enforcement activity, with punishments for financial crime becoming more frequent, sizable and subject to criminal, as well as civil liability. This course ties international compliance requirements with recommended compliance frameworks designed to strengthen the compliance culture of the organisation. The course also takes an in-depth look into how to set and enhance a compliance culture in an organisation through policies, procedures and organisational relationships. It is this compliance culture that must filter into an organization’s compliance programs.

Risk identification and mitigation is essential to any organisation’s compliance framework. This course takes a deeper look at the common indicators of fraud and market misconduct, and ways to mitigate these risks within an organisation. With the current advancements in technology, a pertinent look at the risks of cybercrime, social media and electronic banking fraud will be included. The facilitator will impart knowledge on how to develop and implement these compliance programmes which also includes Board reporting and other control functions (like audit). The importance of corporate governance in monitoring and implementing a compliance programme will give the participants an insight into the importance of senior management reporting and top-down approach in the implementation of the organisation’s compliance culture.

Objectives

After completing this training course, you will be able to:

• Learn essential compliance concepts and frameworks
• Understand the importance of compliance culture and implementation of compliance policies
• Acquire key concepts in order to mitigate fraud and other compliance risks
• Define the role of key players and corporate governance in implementing compliance frameworks
• Identify and discuss emerging compliance issues and trends

Training Methodology

This is an interactive course. There will be open question and answer sessions, regular group exercises and activities, videos, case studies, and presentations on best practices. Participants will have the opportunity to share with the facilitator and other participants on what works well and not so well for them, as well as work on issues from their own organizations. The online course is conducted online using MS-Teams/ClickMeeting.

Who Should Attend?

This training course is suitable for a wide range of professionals but will greatly benefit:

• Compliance Managers and Compliance Officers
• Anti-Money Laundering Officers and the Deputies
• Senior Management
• Directors
• Company Secretaries and Corporate Governance Officers

Course Outline

The Compliance Function

• What is Compliance?
• Compliance benefits
• The business case for Compliance programs
• Whose responsibility is it?

Compliance Regulatory Frameworks

• Role of regulators (Authorise Set standards Supervision – Enforcement)
• Interaction with National Frameworks
• Main regulatory requirements
• International and GCC regulators
• International and GCC Standard-Setting Bodies
• Harmonisation or application of international rules (UN Sanctions)
• The international reach of country laws (UK Bribery Act, US FCPA, US FATCA)
• Emerging topics in regulation, e.g. tax avoidance, whistleblowing rewards
• New developments, e.g. EU Financial Services action plan

Corporate Compliance Frameworks

• Corporate structures and organisational arrangements
• The relationship between the board of directors, regulatory supervisors, and internal and external auditors
• Role of the Board and Board Committees
• The role and responsibilities of the Chief Compliance Officer or Compliance Officer (CO)
• Management’s philosophy and operating style
• Risk culture (appetite and tolerance)
• Elements of an effective compliance program

Compliance Functions

• Role of a Compliance Officer
• Skills required by an effective Compliance Officer
• Duties of a Compliance Officer
• Compliance Officer’s job description

Compliance Culture

• Setting a positive Compliance culture
  • Responsibility
  • Sponsorship
• Compliance Officer – Internal relationships
• Compliance Officer – External relationships
• Compliance risk management
• Policies and procedures
  • Common presentation and contents
  • Responsibility
  • Approval and amendment

Compliance Programs

• Compliance monitoring programme
• Components of a Compliance programme
• Periodic and Annual Compliance report to the Board
• Compliance audit
• Compliance monitoring and review
• Resourcing and outsourcing

Current Corporate Compliance Themes and Issues

• Financial crime risk
• Money laundering and terrorist financing
  • Money laundering offences
  • Example offences
  • Money launderers’ objectives
  • Interaction with National Frameworks
  • Main regulatory requirements
  • Terrorist financing
  • Sanctions and bans

Current Corporate Compliance Themes And Issues (contd.)

• Fraud
  • Internal fraud
  • Environmental characteristics that might facilitate internal fraud
  • Indicators of staff fraud
  • Common warning signs of fraud
  • Mitigation of staff fraud
• Market misconduct, insider dealing and market abuse
  • Market manipulation
  • Insider trading
  • Systems and controls
  • Compliance functions role
• Cybercrime and electronic banking fraud
  • E-crime
  • E-crime tools and techniques
  • Online banking fraud
  • Identity theft
  • Phishing attacks
  • Cybercrime
  • Credit card fraud
  • Data security controls
• Bribery and corruption
  • Bribery and corruption laws
  • Sanctions and bans
  • Corporate liability
  • Corporate protection and defences
• Whistleblowing programmes
  • Standard and guidelines
  • Common practices
  • Treatment of whistle-blowers
  • Current issues Moral hazards

The link between Compliance and Corporate Governance

• Corporate Governance outline

Emerging Compliance Issues

• Social media
• Regulatory creep
• Training and development of new Compliance teams
• Overlaps with other control functions