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Upcoming Castille Institute Courses by Stefan-John Berry - 1 & 8 March 2019

about 1 month ago by Anne Marie Gilson
Internal-Control-Systems:-Compliance,-MLRO-and-Risk,-Risk-Management-and-the-Lines-of-Defence

Castille Institute is once again pleased to welcome Stefan-John Berry as he delivers Internal Control Systems:  Compliance, MLRO and Risk on the 1 March 2019 and Risk Management and the Lines of Defence on the 8 March 2019.

 

Internal Control Systems:  Compliance, MLRO and Risk - 1 March 2019

For the past 15 years or so, the local FinServ industry has witnessed the importance of distinguishing between the Business functions and the Internal Control functions, within a licensed entity. Indeed, as legislation and, particularly, (EU-originated) regulation develops, the roles of the Compliance and Risk Officers assume more significance. Duties and responsibilities abound, yet we are still at a stage where the boundaries are not well defined or otherwise commonly known and shared. 

Even at Board of Director’s level, there is sometimes manifest an ignorance of what is to be expected of the different Functions, this leads to a confusion of roles between what is Legal, Compliance, Risk or something else and it thus causes prejudice to the good Corporate Governance of the particular entity. The primary aim of this course is to clearly distinguish and identify what goes where, and this, across the different sectors in the FinServ industry.

 

Risk Management and the lInes of Defence - 8 March 2019

Nowadays, in a number of industries and sectors within such industries, there are diverse teams of enterprise risk management specialists, compliance officers, internal control specialists, internal auditors, KYC and fraud officers and other risk and control professionals working together to help their organisations control risk. Yet, it is not enough that the various risk and control functions exist — the challenge is to assign specific roles and to coordinate effectively and efficiently among these groups so that there are neither “gaps” in controls nor unnecessary duplications of coverage. The problem may exist in any organisation, large or small, whether listed, licenced or even commercial. Fortunately, regulatory guidance and best practices are emerging that help organisations delegate and coordinate essential risk management duties with a systematic approach. The Lines of Defence model provides a simple and effective way to enhance communications on risk management and control by clarifying essential roles and duties. It gives a fresh outlook at operations, helping to assure the ongoing success of risk management initiatives, and it is appropriate for any organisation — regardless of size or complexity. In organisations where a formal risk management framework or system does not exist, the introduction and adequate (stylised) implementation of the model may enhance clarity on risks and controls and improve the effectiveness of enterprise risk management.

 

About the Speaker

By profession, Stefan is a lawyer with a Magister Juris postgraduate specialisation in European and Comparative Laws, a Master’s Degree in International Maritime Law and over 18 years’ experience in the financial services and technical industries. He commenced his professional career as a Tax and Legal Associate at PricewaterhouseCoopers (PWC) and later joined Lombard Bank Malta plc, a well-established and reputable local retail credit institution, where he helped set up and consolidate the Compliance, Risk Management and MLRO functions.

He then moved on to Middlesea Insurance plc (part of MAPFRE Group), where he was appointed Compliance Officer and Company Secretary to a number of insurance and reinsurance companies that passport their products and services in the European Union. Thereafter, Stefan has been serving as Company Secretary, in-house Legal Counsel, Compliance Officer and MLRO with a number of MFSA-licenced institutions, authorised to passport their FinServ products and services to other EU Member States. Stefan is also currently very involved in providing advisory services on Internal Controls for FinServ and FinTech licenced entities. He also coaches newly appointed and established Non-Executive Board Directors, who function on licenced and listed entities, and serves as Board member and Vice-President to the Malta Association of Compliance Officers (MACO) and General Secretary to the Financials Institutions Malta Association (FIMA).

 

For further information or to book your seat contact Castille Institute on 20933280 or send us an email on institute@castilleresources.com.