INTERNAL CONTROL SYSTEMS: COMPLIANCE, MLRO AND RISK (Part 1 of 2)
CPE: To be confirmed
1.30pm until 5.00pm
Castille, Casa Leone, Floriana
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.