Compliance Change Transformation

Programme Overview

Compliance functions play a vital role financial institutions’ risk management efforts. Such role has traditionally been to ensure that financial institutions operate with integrity and adhere to applicable laws, regulations, and internal policies. Increasingly, Compliance functions are challenged to maintain effective Compliance Management Programs (‘CMP’) which prevent and detect instances of non-adherence to internal & external regulations as well as inappropriate business conduct. International regulators responded to several high-profile cases in recent years, and further enhanced and clarified regulatory requirements and supervisory expectations. In many any cases, enforcement proceedings focused on the role of the Compliance function and the effectiveness of the CMP.

Digitalisation in the financial industry as well as the use of new technology and approaches, including but not limited to artificial intelligence (‘AI’) further accelerate the need for Compliance functions to transform their traditional CMP into a comprehensive, technology and data driven operating model.

This course covers how to equip and transform conventional Compliance functions with know how, tools and understanding to utilize and leverage technology, data and processes. It is taught by senior Compliance management and seasoned practitioners with direct experience and demonstrated outcomes.

Course

By the end of this module, participants will be able to

Understand the elements for an effective and sustainable compliance framework and identify the drivers for a holistic Compliance strategy commensurate with organisational strategy and relevant regulatory requirements.
Assess the key elements and propose a target operating model facilitating an effective Compliance framework and efficient delivery of such framework.
Understand the need for and develop a holistic technology strategy supporting a data-driven Compliance organization.
Recognize the importance of a holistic response to develop enhance Compliance’ AML risk management and assess and implement the transformation requirements of an effective control framework to combat money laundering.

The course structure consists of a combination of classroom learning and assessments, totalling 8.5 hours.

Section 1: Analysis and Response to Challenge

Section 2: Operating Model

Section 3: Processes

Section 4: AML Risk Management Framework

Download programme brochure

Who Should Attend

This course is designed for professionals with 3 years and above of relevant experience in a control function in financial services, such as risk, internal audit, legal, compliance advisory, monitoring and surveillance, compliance analytics, as well as external lawyers and auditors advising Financial Institutions.

Useful Links

Certification

Participants who successfully complete the programme will be awarded:

Accreditation

The programme is currently undergoing accreditation.

IBF Accreditation

This course is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.
For more information on the Skills Framework for Financial Services, please visit www.ibf.org.sg/home/for-financial-institutions/resource-tools/skills-framework-for-financial-services.

For more information on the IBF-STS, please visit www.ibf.org.sg/home/for-financial-institutions/resource-tools/skills-framework-for-financial-services.

Certification

About IBF Certification

This course addresses the following Technical Skills and Competencies (TSCs) and proficiency level:

Change Management (PL4)

Participants are encouraged to access the IBF MySkills Portfolio (https://www.ibf.org.sg/programmes/Pages/MySkills-Portfolio.aspx) to track their training progress and skills acquisition against the Skills Framework for Financial Services. You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.

Find out more about IBF certification and the application process on https://www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx

Modules	Full Fees (S$)	Fees after subsidies inclusive of 9% GST (With effect from 1 Jan 2024) (S$)
Before GST	After GST	Company-Sponsored	Self-Sponsored

Note:

Prices shown are based on the prevalent IBF-STS subsidies. T&Cs apply.

Click here to read more about the terms & conditions governing registration, payment, cancellation, deferment and no-show.

Eligible SG citizens may utilise SkillsFuture Credit to offset course fees. This is only applicable for the regular SkillsFuture Credit, and not applicable for the SkillsFuture Credit (Mid-Career) additional top-up funding.

The information above is correct at the time of publication. Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.