The Role of the Compliance Officer
Overview
The role of the Compliance Officer within an FCA-authorised firm is an important one, and it is vital that holders of the position have a good understanding of the FCA’s approach to regulation and its expectations.
This is particularly the case where the individual holds the Compliance Oversight (SMF16) function, as holders of this function must be able to demonstrate to the regulator that an appropriate level of competence has been achieved and maintained. Attending this comprehensive full-day course will assist such individuals in demonstrating competence.
The course will consider the responsibilities of the Compliance Officer as well as practical aspects of the role, including compliance monitoring. Failure to comply with regulatory expectations could result in the FCA taking action against the firm and its Senior Managers, including the holder of the Compliance Oversight function.
This course will look at instances where this has happened and the lessons that can be learned. It also explores the impact of the FCA’s new Consumer Duty.
All attendees receive a certificate of completion. Additionally, in line with FCA guidance, an optional end-of-course assessment is available for an additional £200 for those who are seeking approval from the FCA to perform the MLRO/Compliance Oversight function.
Who is this for?
The course is particularly suitable for individuals who are new to the role of the Compliance Officer and/or the Compliance Oversight function, but will also be of benefit to junior members of compliance teams who are seeking career development and progression.
Learning Outcomes
After attending this course, participants will:
- Have an awareness of the principal regulatory requirements governing UK financial services
- Understand where the responsibility for compliance lies within a firm
- Know the principal tasks of a Compliance Officer, and the key skills required
- Understand the importance of a compliance monitoring plan, and how to construct and implement a plan
- Have knowledge of the regulator’s approach to supervising firms, and ways in which to prepare for, and manage, a visit by the regulator
- Understand the FCA’s enforcement process and powers
Course Details
Session 1
- Fundamentals of FCA Regulation
- Compliance Responsibilities
- The Job, Principal Tasks, Skills
Session 2
- Compliance Manual & Records
- Compliance Monitoring
- Complaints & Enforcement
Delivery
All of CCL Academy’s public courses are delivered virtually using Zoom.
Firms with more than 5 staff to train have the flexibility to deliver training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.
