Compliance Function is developing in one of the most important functions for the banks, as well as for the financial and insurance institutions, as demonstrated by several international scandals impacting the reputation of big financial institutions.
Compliance contributes to the security of the organization and to the prevention of situations, which would impact the operation and the reputation of the organization, as well as the employees individually. The need of training for the personnel working in the financial area has become imminent, in order for them to be in position to face the new challenges and to contribute, depending on their role, to the adaptation and the operation of the organization, according to the existing and forthcoming regulation. In parallel, the role of the Compliance Officer evolves progressively and Compliance has become, a new challenging career opportunity, at global level.
Training Objectives
By the end of this programme, participants will be able to:
- Gain an understanding of the fundamentals of the regulatory framework and the compliance function
- Be aware of what the compliance function is responsible for and what are the expectations from a compliance officer
- Know the regulation around financial crime and Anti-money laundering
- Briefly know that main regulatory frameworks in effect around the financial services industry
- Be able to balance ethics, compliance and business
- Understand how corporate governance affects an organisation
Training Outline
History, need for regulation, regulation models
- History of EU regulatory framework
- Why do we need regulation and how does the regulation work?
- Key EU regulations in place in the financial services industry (banking, investments, insurance & payments, etc)
- Final report by the Committee of Wise Men
Compliance Function: Responsibilities, skills, Compliance risk, tools
- The definition of Compliance
- The risk of non-compliance
- The role of the Compliance Officer and his place in the context of the internal control framework
- The profile of the Compliance Officer (skills, knowledge, background)
- Role, responsibilities and mission of the Compliance Function and the Compliance Officer
- Areas covered by the Compliance Unit
- Models of organizational structure of a Compliance Function
- Interrelation of the Compliance Officer and the Compliance Unit, with other roles/units in a regulated company (lawyer, internal auditor,risk officer etc)
Managing the Risk of Financial Crime
- Money Laundering
- Terrorist financing process
- 5th & 6th EU Directive
- Recent AML/Financial Crime cases
Overview of current financial services regulations
- Banking
- Financial/Investment services
- Insurance sector
- Payment Services
Sustainability
- Sustainable Finance Disclosure Regulation (SFDR)
Ethics, Integrity and Fairness
- Ethics and Compliance
- Market Integrity
- Fair Dealing
- Short overview of the market abuse regulation
Governance requirements–Objectives of Corporate Governance
- The role of the Board in Risk Governance
- Composition of the Board – Independence criteria
- Governance principles as per the regulatory framework
Who should attend
- Banks’ managers/officers
- Investment Services Companies managers/officers
- Insurance Companies managers/officers
- Listed Companies managers
- IT managers/officers of companies developing IT systems/applications for financial institutions in order for them to meet the regulatory requirements
- Lawyers
- Officers exercising control activities (internal auditors, inspectors, external auditors, operational risk managers etc)
- Professionals wishing to work in Compliance in the future
- Graduate or post graduate students.
- Professionals that wish to make an international career in Compliance and would like to have a broader picture of how Compliance works and its methodologies, at international level
Industry Expert | Alexis Zambas
Alexis Zambas is an experienced financial services professional with more than 10 years of experience, during which he worked in large organisations such as PwC Cyprus and BrokerCreditService (Cyprus Limited) and has undertaken various positions including of the internal auditor, compliance officer, trainer, risk consultant, data protection officer and others, in regulations such as MiFIDII/MiFIR, MAR, EMIR, SFTR, GDPR, and more.
Throughout his experience, he provided consulting services to major investment firms and financial institutions in Cyprus and has successfully implemented new regulatory frameworks such as MiFIDII/MiFIR, SFTR and GDPR within organisations.
Finally, he has provided numerous trainings on all major regulatory frameworks to both internal as well as external audience.
He is currently serving as the Head of Compliance for a Cyprus Investment Firm
Training Style
The programme is designed to enhance the participants’ knowledge on investment analysis, risk management, portfolio management, and most importantly their associated regulations, via short lectures, case studies, and practical examples. Most of the training will focus on providing a clear understanding of the topics while much training time will also be invested in providing real-life case studies and examples of the material covered.
CPD Recognition
This programme may be approved for up to 10 CPD units in AML/Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
The Association of Anti-Money Laundering Specialists (ACAMS) has confirmed that this programme is accredited for 14 CAMS Credits. Participation in this course does not substitute the requirement to earn (12) ACAMS credits through ACAMS produced training for CAMS recertification.
