Risk-based Compliance Monitoring

The facilited workshop will combine real life experience, case studies and clear realistic examples.

The topics covered will be:

• What is a compliance risk and how do we assess it?
• What are the dividing lines and synergies between compliance and other risk management disciplines?
• Can we have an appetite for compliance risk? What are the factors?
• Simple documentation of the compliance risk assessment process
• Building and resourcing a practical and pro-active risk-based monitoring programme
• The balance between active and ‘delegated’ monitoring
• Creating useful management information

Attendance at this workshop will enable you to:

• Deal with the challenges of mapping compliance risk and what it means within your own organisation
• Provide practical guidance on creating, managing and executing a risk-based monitoring plan
• Report to management on the outcomes – with a focus on practical business advantages including budget negotiation

This focused workshop session will include elements of guided learning, practical sessions, and the exchange of experiences and views. The workshop will be of long term benefit to Senior Managers, including Business Management, Compliance Managers, Risk Managers, Auditors and Lawyers.

The facilitated workshop will include:

Compliance, compliance risk assessment and compliance risk appetite

• What are the responsibilities of compliance in your organisation? What might go wrong, and what would happen if it does?
• How effective are existing compliance controls?
• What level of compliance risk is acceptable, and how does the compliance function help senior management to define the appetite?

Dividing lines and synergies with other risk management disciplines

• Overlap and underlap - do you have total clarity about who is responsible for what?
• What do sister risk management disciplines do that already helps compliance, and what tools do they use?
• The role of the business as risk managers

Compliance risk assessment process – group exercise

• Some common compliance risks
• Assessing the impact
• Assessing the likelihood – with business inputs and controls
• Ranking the risks Capturing new and changing compliance risks

Building and resourcing a practical and pro-active risk-based monitoring programme

• Working from the risk assessment
• Balancing and managing compliance function resource
• Identifying information sources and gaps
• Creating the plan
• Execution, escalation, and record-keeping
• Building in new or changed risks

So who does compliance monitoring? the balance between active and ‘delegated’ activities

• What activities are taking place already that can be used or adapted for compliance monitoring?
• What does business management do already?
• The balance between doing it yourself and checking that others have done it properly

Designing and creating practical management information to gain traction and resource

• What does management want to know?
• What does management need to know?
• Simple presentation, clear focus
• Dealing with escalations
• Matching responsibilities to resources: effective budgetary negotiation

Facilitated group exercises will be held throughout the workshop to enable delegates to gain maximum benefit from the day through networking with other delegates. Please feel free to ask questions throughout the day.

The next Risk-based Compliance Monitoring workshop will be held in London on 21st May 2013 and 26th June.

The cost for the full day workshop including course materials and refreshments is £695+VAT. Discounts are available for the second and subsequent delegates booked from the same organisation.

For more detailed information about this Risk-based Compliance Monitoring workshop, please our training department or complete our online contact form.