Developing a Risk-Based Compliance Monitoring Programme

Overview

Monitoring and assessing the adequacy of a firm's policies and procedures is one of the primary responsibilities of a Compliance function, and many firms fail to pay monitoring the attention that it needs and deserves. Consequently, time is wasted and the necessary assurance received can actually be false.

A well-thought-out, risk-based, Compliance Monitoring Programme (CMP) will provide the business, and Senior Management in particular, with the ability to identify any deficiencies and genuine assurance that appropriate remedial action has been undertaken.

This one-day course will show you techniques that will ensure that you have a risk-based, regulator-proof monitoring plan, exploring the need for monitoring, the regulator’s expectations, as well as the practical steps required to develop and implement a Compliance Monitoring Programme and to report results meaningfully to Senior Management.

This course is part of CCL Academy’s ‘Skills Workshop’ series, a suite of courses focusing on the practical skills required by Compliance and Financial Crime Prevention professionals.

Who is this for?

The course is designed for Compliance and/or Audit staff within FCA-authorised firms who hold responsibility for monitoring the firm's compliance with its regulatory obligation. It is particularly suitable for those who are becoming involved in monitoring for the first time.

Learning Outcomes

After attending this course you will:

Apply the role of Compliance Risk as the foundation of Compliance Monitoring
Identify the importance of a Risk-Based Compliance Monitoring Programme (CMP) and how to construct and implement one
Work to the FCA’s expectations regarding Compliance Monitoring
Apply the practical steps involved in carrying out Compliance Monitoring, and some of the challenges that can arise

Course Details

Regulatory Framework
Compliance Risk Framework
Developing a Compliance Monitoring Programme
Compliance Testing Techniques - A Case Study
Aspects of the Monitoring Process

Delivery

Our interactive learning is delivered online, so all you need is an internet-connected device – we’ll do the rest.

We handle every part of the set-up process, from customising your individual Learning Management System (LMS), loading staff data, setting up a deployment and reminder schedule and reporting on progress.

In addition, administrators can also have access to all of these tools too, giving you the flexibility to be involved as much or as little as you prefer.