compliance officer

Skills of Compliance Officer

د.إ3,500

The role of compliance officers in combating money laundering and financial crimes has become increasingly complex with the advancement of technology. Companies require individuals with a combination of knowledge, experience, and skills to be effective in this role. Compliance officers must have an understanding of the regulatory landscape, industry knowledge, and the ability to assess risks, solve problems, interpret data, and communicate effectively. Additionally, they must be equipped with critical thinking skills, IT knowledge, knowledge of security vulnerabilities, and the ability to see the big picture. These skills and attributes support compliance officers in their efforts to maintain the integrity of the organization, minimize risk, and ensure that the company is in compliance with all relevant regulations and laws.

Course Overview:

Applied law and compliance are aspects critical to the maintenance of operational hygiene for the success of a business. Applied law refers to the rules, regulations, policies, and clauses applicable and applied to various areas of operations within an organization, which encompass processes, infrastructure, business transactions, employees, and clients.

Compliance training refers to conformance or adherence to a rule or set of rules placed out through policy, law, or specification. This conformance could be to internal systems and/or external rules. Compliance is undertaken to ensure that an organization is meeting legal obligations to protect the health, welfare, and safety of others.

Laws are agents of modernization and social change for the better. They act as catalysts in the process of social transformation of people. Applied law and compliance are extremely necessary to ensure that an organization is moving in the correct direction and adhering to the standards set out at the start to achieve the end objective of success.

Course Objectives

The main objective of this Certified Compliance Officer course is to empower working professionals with:

  • complete knowledge and information related to applied law and compliance training
  • in-depth understanding of the objectives and motives behind certain rules and policies, which in turn will help them derive maximum benefits from these policies
  • the required skill and awareness to understand and prepare for possible fraud and non-compliance-related issues
  • experience and exposure to understand and/or identify business process vulnerability to unethical and undesirable actions
  • the required skill and ability to assess risks when preparing contracts to secure one’s organization beforehand
  • the necessary know-how and capability to play an important role in compliance and compliance-related initiatives for one’s organization, in turn fostering career growth and progression through passive and experiential learning.

 

Who Should Attend?

  • Senior members and top management of organizations are responsible for ensuring that organizations and their processes and transactions are compliant with the required standards
  • Internal and external auditors are responsible for undertaking regular audits of systems and processes to check adherence and conformance to law and standards
  • Policymakers are responsible for creating policies including all necessary components to foster adherence to universally set standards
  • Financial investigators are responsible for auditing and investigating financial statements to confirm ethical business operations throughout
  • Law enforcement agencies are responsible for ensuring that laws applicable to certain organisations and industries are being followed by them
  • Mid-level managers and human resource professionals are responsible for overseeing the audit process and ensuring adherence to systems and processes at a day-to-day level
  • Any other professional interested in understanding and knowing more about applied law and compliance

 

Course Outline

The Certified Compliance Officer course will cover the following areas important for understanding applied law and compliance:

Module 1: Importance of Law and Compliance

  • Reduced legal problems
  • Improved operations and safety
  • Better public relations
  • Higher employee retention

Module 2: Purpose of Applied Law

  • Establishing standards
  • Maintaining order
  • Resolving disputes
  • Protecting liberties and rights

Module 3: Types of Compliance

  • With government-imposed standards
  • With industry standards and codes of practice
  • With external client contract specifications
  • With licensing, permits, accreditations, certifications, etc.

Module 4: Types of Compliance Risks

  • Environmental risks
  • Workplace health and safety
  • Corrupt practices
  • Social responsibility
  • Quality
  • Process risks

Module 5: Key Elements of a Corporate Compliance Program

  • Risk identification and assessment
  • Standards, policies, procedures, and controls
  • Leadership commitment
  • Communication, guidance, and training
  • Monitoring, auditing, and reviewing
  • Discipline and reporting

Module 6: Important Functions of a Compliance Department

  • Identification (identify risks and advise)
  • Prevention (designing and implementing controls against risks)
  • Monitoring and detection (monitor and report the effectiveness of controls)
  • Resolution (resolving compliance difficulties)
  • Advisory (advice on rules and controls)

Module 7: Key Features of Enforcement

  • Inspection
  • Investigation process
  • Surveillance powers
  • Imposition of remedial or corrective action
  • Imposition of fines and penalties

Module 8: Hindrances to Applied Law Adherence and Compliance

  • Lack of real management support
  • Prioritizing risk-taking
  • Lack of employee awareness on purpose
  • Lack of resources
  • Lack of constancy
  • Lack of integration among departments

 

Organisational Benefits

With professionals attending this Certified Compliance Officer course, their organizations will benefit in the following ways:

  • Naturally trained and experienced employees who ensure compliance and play an important part in the upgrading of policies and processes with changing standards
  • Better risk assessment before or during contract preparation, results in more risk-free and appropriate contracts for any business association
  • Reduced costs because of lesser need and opportunities to pay fines and penalties for non-adherence
  • Better preparedness to handle fraud and other illegal and unethical incidents
  • Regular internal audits and revisions to protect against fraud and ensure adherence to relevant standards
  • Better framed policies setting out all possibilities and precautions by the law and compliance requirements
  • Improved brand image among prospective employees and clients because of adherence to universally acceptable standards, thus improving credibility
  • Higher employee retention is because of employee-friendly policies and processes

 

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