Certified Risk and Compliance Professional (CRCP)

Venue: Hong Kong

Location: Hong Kong, Hong Kong

Event Date/Time: Apr 13, 2009 End Date/Time: Apr 17, 2009
Registration Date: Apr 11, 2009
Early Registration Date: Mar 27, 2009
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Description

In partnership with the International Association of Risk and Compliance Professionals (IARCP), we have the opportunity to offer this exciting new course.

The CRCP course and exam is designed to provide you and your team with the knowledge and skills needed to understand and support regulatory compliance and enterprise wide risk management, and to promote best practices and international standards that align with business and regulatory requirements.

This course will allow you to develop your own personal competitive advantage in the market for talent, giving you specialised knowledge in an area that is becoming ever more important in the financial services marketplace.

The course provides you with the skills needed to pass the Certified Risk and Compliance Professional (CRCP) exam and includes membership to the IARCP.



WHAT DO I GET FROM THIS COURSE?

* Training: Obtain the knowledge and skills needed to understand and support regulatory compliance and enterprise wide risk management within your organisation
* Certification: The CRCP accreditation from the International Association of Risk and Compliance Professionals (IARCP). If you pass the exam(s), you will be entitled to use the following designation: "Certified Risk and Compliance Professional (CRCP)"
* As a certified professional, you are entitled to write about your certification(s) in your CV, resume, web site, using the name and the logo of the association.
* Association: You will become (at no cost) a member of the International Association of Risk and Compliance Professionals (IARCP), to stay current with new developments in risk and compliance around the world. A detailed look at modern operational risk management, including quantification, loss modelling, key risk indicators and practical methods for operational risk managers



WHO SHOULD ATTEND?
* Risk management, legal, audit and accounting professionals and consultants
* Head of Risk Management, Credit Risk, Operational Risk or Market Risk
* Head of Compliance
* Board of Directors
* Project Managers
* IT and Information Security Managers
* Business analysts involved with Basel II and Sarbanes-Oxley implementations
* Students and learners with activities and career interest in risk and compliance

Venue

Additional Information

DETAILED SYLLABUS PART A: COMPLIANCE WITH LAWS AND REGULATIONS, AND RISK MANAGEMENT • Introduction • Regulatory Compliance and Risk Management • Definitions, roles and responsibilities • The role of the board of directors, the supervisors, the internal and external auditors • The new international landscape and the interaction among laws, regulations, and professional standards • The difference between a best practice and a regulatory obligation • Benefits of an enterprise wide risk and compliance program • Compliance culture: Why it is important, and how to communicate the regulatory obligations • Policies, Workplace Ethics, Risk and Compliance • Policies, procedures and the ethical code of conduct • Privacy and information security • Handling confidential information • Conflicts of interest • Use of organizational property • Fair dealings with customers, vendors and competitors • Reporting ethical concerns • Governance, Risk and Compliance • The definition of Governance, Risk and Compliance • The need for Internal Controls • Understand how to identify, mitigate and control risks effectively • Approaches to risk assessment • Qualitative, quantitative • Integrating risk management into corporate governance and compliance PART B: THE FRAMEWORKS • Internal Controls • The Internal Control — Integrated Framework by the COSO committee • Using the COSO framework effectively • The Control Environment • Risk Assessment • Control Activities • Information and Communication • Monitoring • Effectiveness and Efficiency of Operations • Reliability of Financial Reporting • Compliance with applicable laws and regulations • IT Controls • IT Controls and Sarbanes Oxley Act Relevance • Program Development and Program Change • Deterrent, Preventive, Detective, Corrective, Recovery, Compensating, Monitoring and Disclosure Controls • Layers of overlapping controls • The COSO Enterprise Risk Management (ERM) Framework • Is COSO ERM needed for compliance? • COSO AND COSO ERM • Internal Environment • Objective Setting • Event Identification • Risk Assessment • Risk Response • Control Activities • Information and Communication • Monitoring • The two cubes • Objectives: Strategic, Operations, Reporting, Compliance • ERM – Application Techniques • Core team preparedness • Implementation plan • Likelihood Risk Ranking • Impact Risk Ranking • COBIT - the framework that focuses on IT • Is COBIT needed for compliance? • COSO or COBIT? • Corporate governance or financial reporting? • Executive Summary • Management Guidelines • The Framework • The 34 high-level control objectives • What to do with the 318 specific control objectives • COBIT Cube • Maturity Models • Critical Success Factors (CSFs) • Key Goal Indicators (KGIs) • Key Performance Indicators (KPIs) • How to use COBIT for Sarbanes Oxley compliance PART C: SARBANES OXLEY • The Sarbanes Oxley Act • The Need • US federal legislation: Financial reporting or corporate governance? • The Sarbanes-Oxley Act of 2002: Key Sections • SEC, EDGAR, PCAOB, SAG • The Act and its interpretation by SEC and PCAOB • PCAOB Auditing Standards: What we need to know • Management's Testing • Management's Documentation • Reports used to Validate SOX Compliant Infrastructure • Documentation Issues • Sections 302, 404, 906: The three certifications • Sections 302, 404, 906: Examples and case studies • Management's Responsibilities • Committees and Teams • Project Team – Section 404: Reports to Steering Committee • Steering Committee – Section 404: Reports to Certifying Officers and cooperates with Disclosure Committee • Disclosure Committee: Reports to Certifying Officers and cooperates with Audit Committee • Certifying Officers and Audit Committee: Report to the Board of Directors • Control Deficiency • Deficiency in Design • Deficiency in Operation • Significant Deficiency • Material Weakness • Is it a Deficiency, or a Material Weakness? • Reporting Weaknesses and Deficiencies • Examples • Case Studies • Public Disclosure Requirements • Real Time Disclosures on a rapid and current basis? • Whistleblower protection • Rulemaking process • Companies Affected • International companies • Foreign Private Issuers (FPIs) • American Depository Receipts (ADRs) • Employees Affected • Effective Dates PART D: BASEL II • The New Basel Capital Accord (Basel II) • Realigning the regulation with the economic realities of the global banking markets • New capital adequacy framework replaces the 1988 Accord • Improving risk and asset management to avoid financial disasters • "Sufficient assets" to offset risks • The technical challenges for both banks and supervisors • How much capital is necessary to serve as a sufficient buffer? • The three-pillar regulatory structure • Purposes of Basel II • Pillar 1: Minimum capital requirements • Credit Risk – 3 approaches • The standardized approach to credit risk • Claims on sovereigns • Claims on banks • Claims on corporates • The two internal ratings-based (IRB) approaches to credit risk • Some definitions: PD - The probability of default, LGD - The loss given default, EAD - Exposure at default, M – Maturity • 5 classes of assets • Pillar 2: Supervisory review • Key principles • Aspects and issues of the supervisory review process • Pillar 3: Market discipline • Disclosure requirements • Qualitative and Quantitative disclosures • Guiding principles • Employees Affected • Effective Dates • Operational Risk • What is operational risk • Legal risk • Information Technology operational risk • Operational, operations and operating risk • The evolving importance of operational risk • Quantification of operational risk • Loss categories and business lines • Operational risk measurement methodologies • Identification of operational risk • Operational Risk Approaches • Basic Indicator Approach (BIA) • Standardized Approach (SA) • Alternative Standardized Approach (ASA) • Advanced Measurement Approaches (AMA) • Internal Measurement Approach (IMA) • Loss Distribution (LD) • Standard Normal Distribution • “Fat Tails” in the normal distribution • Expected loss (EL), Unexpected Loss (UL) • Value-at Risk (VaR) • Calculating Value-at Risk • Stress Testing • Stress testing and Basel • (AMA) Advantages / Disadvantages • Operational Risk Measurement Issues • The game theory • The prisoner’s dilemma – and the connection with operational risk measurement and management • Operational risk management • Operational Risk Management Office • Key functions of Operational Risk Management Office • Key functions of Operational Risk Managers • Key functions of Department Heads • Internal and external audit • Operational risk sound practices • Operational risk mitigation • Insurance to mitigate operational risk • Basel II and other regulations • Capital Requirements Directive (CRD) • Markets in Financial Instruments Directive (MiFID) • What will be the impact of MiFID to EU and non EU banks? • Aligning Basel II operational risk and Sarbanes-Oxley 404 projects • Common elements and differences of compliance projects • New standards • Disclosure issues • Multinational companies and compliance challenges PART E: DESIGNING AND IMPLEMENTING A RISK AND COMPLIANCE PROGRAM • Designing an Implementing an enterprise wide Risk and Compliance Program • Designing an Internal Compliance System • Compliance programs that withstand scrutiny • How to optimize organizational structure for compliance • Documentation • Testing • Training • Ongoing compliance reviews and risk assessments for continuing compliance with laws and regulations • Compliance Monitoring • The company and other stakeholders • Managing the regulators and change in regulations • International and national regulatory requirements • Regulatory compliance in Europe • Regulatory compliance in the USA. What is different • The GCC countries • The Caribbean • The Pacific Rim • Common elements and differences of compliance projects • New standards • Disclosure issues • Multinational companies and compliance challenges DISCOUNT: Early sign up discount of US$500 for registration in advance. See website. For a full course description and more information please visit http://www.jzpartners.co.uk/training/crcp/

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