Risk Based Monitoring

Wednesday 19th April, 2023

Delivered Virtually, Zoom

Attendee Fees: Non-members: £400 (VAT Exempt), Members: £250 (VAT Exempt)

Time: 09:30 - 13:00

Duration: 4 hours

This event has passed.

COURSE DETAILS

Duration: 3.5 hours | Timings: 9.30-13.00 (a break will be provided)

Risk-based monitoring may seem an obvious and simple concept, but for regulated firms it is often complex and hard to demonstrate to senior management that it has value that befits the investment needed. Is a monitoring programme that checks adherence to a litany of rules effective in a world of “outcomes”, “fairness” and “conduct risk frameworks”? Using worked examples this course aims to introduce approaches to help

Course Overview

Understand the key concerns FCA has that relate to monitoring
How these can influence your thinking and structuring of your monitoring
The importance of defining “good outcomes” for your clients before you think about monitoring
How to monitor effectively where subjective tests like “fair” are being used by the regulator
What do these subjective assessments mean for risk assessment and reporting?

Agenda

Introduction
FCA’s objectives and supervision principles
What do the Rules say?
The importance of definitions and mandates
Monitoring outcomes vs strict “rule compliance”
Risk assessment
Using the conduct risk framework as a basis for the plan
Using “outcomes matrices”
Effective reporting

Trainer

The session will be delivered by Gary Pitts.

Gary has been a compliance professional for over 27 years, having started his career at Lautro and the Personal Investment Authority and including spells at Threadneedle, Henderson (managing the N2 transition), Head of Compliance at hedge fund Brevan Howard and Head of Compliance Europe, Mid-East, Africa and Japan for a boutique investment bank. Since 2013 he has run his own regulatory and training consultancy, Tetractys, with operations in the UK and Ireland. Tetractys focuses the importance of governance as the essential driver of good compliance outcomes. He delivers open and bespoke training courses and external Board effectiveness assessments alongside his consulting work. Gary has a particular interest in cyber security governance and the impact of digitisation on compliance and business processes.

Gary has held FCA controlled/senior manager functions since 2001, has been a director of regulated companies in the UK and South Africa and is also has been a Central Bank regulated person in Ireland. Gary is a Fellow of the Institute of Leadership and Management, Fellow of the Chartered Management Institute and holds an MBA from the Open University Business School and Masters degrees from Oxford and London Universities. He sits on the regulatory advisory board of the Journal of Securities Compliance has also held a number of charity trusteeships.