Integrated Governance Risk and Compliance Bootcamp for Energy Organization

EXECUTIVE SUMMARY

Globally, businesses continue to face challenges and risks associated with dynamic economic and market environments. This promotes a continual assessment of the adequacy and effectiveness of internal control structures that are designed to manage the associated risks in energy services environment. Stakeholders in business also continue to demand more accountability in organisational governance structures whilst ensuring business sustainability. To address the complex external and internal influences, energy related organization need to ensure a balance between governance, risk management and compliance.

An integrated organisational approach promotes appropriate risk identification and the collation of information for decision-making at the highest levels, with audit committees demanding insight into business risks and compliance obligations, how these are being managed and assurance over the key business risks. Viewed at a strategic level, GRC can enable information provision that supports organisational performance and adaptability within increasingly changing markets.

Many organisations continue to face difficulty arising from fragmentation across risk, compliance and assurance activities that are integral to the GRC environment. A common approach to risk identification and assessment that is driven from a strategic level ensures an effective approach to GRC that is aligned to the organisational strategy.

It is in an organization’s best interest to invest in, manage, and build effective GRC programs not only because they tend to ensure good governance and compliance, but because they protect the organization from avoidable regulatory scrutiny and punishments.

How Can an Agile and Integrated GRC Framework Help Your Organization Become Future-Ready?
An agile and integrated GRC framework is designed to respond effectively to today’s business environment, namely, the growing complexity of business processes, frequent process modifications, and increasing regulations. When properly structured, enforced, and managed, an agile and integrated GRC framework further offers the potential for future success by:
Providing a consolidated view of the organization
Offering timely intelligence and insights
Engaging all three lines of defense
Improving risk identification and control monitoring
Facilitating the embedding of business, IT, and security processes

LEARNING OBJECTIVES

By the end of the course, participants will be able to:

COURSE CONTENTS

Compliance & Regulatory Environment

• An overview of the regulatory environment
• The objectives of financial services regulation
• Major trends in the global regulatory environment
• Key regulations that impact (transnational) finance institutions
• Key characteristics of the more recently announced holistic regulatory changes and the new legislature
• International Regulation
• The role of the regulators
• What do the Regulators expect?
• Your jurisdiction environment
• The difference between a best practice and a regulatory obligation
  

Risk Management and Internal Controls

• Main types of risk classes that firms face and have to cope with
• Characteristics of the main risk classes
• Fundamental concepts of each of the risk classes
• Understanding a Risk-Management Approach
• The impact on the business – positively and negatively – of creating a Risk-Management Approach
• The need for Internal Controls
• Understand how to identify, mitigate and control risks effectively
• Approaches to risk assessment
• Effective Management of Compliance Risks

Dealing with Financial Crimes

• Money Laundering Laws
• Preventing fraud and Ethics
• Bribery and Corruption
• Market Abuse and Insider Dealing
• The risk-based approach to money laundering/terrorist financing
• Identifying high-risk indicators, understand what to do with the information and whom to escalate it to
• Banks and Financial Institutions required to file Suspicious Activity Reports (SARs)
• Sanctions
  

Corporate Governance paraphernalia and applications

• National International environment for corporate governance
• Shareholders and Stakeholders
• Board of director’s responsibilities according to NCCG
• Audit Committee
• Corporate Social Responsibility.
• Sound Corporate Governance Practices in Banking
• The Role of Public Disclosure
• Supervisors and Transparency
• Case Study: GRC and Video review

GRC Strategic Approaches

• Overview of ‘governance’, ‘risk’ and ‘compliance’ (i.e., GRC)
• Principles and benefits associated with governance, risk and compliance
• GRC integrated approaches and their key enablers
• Role and Responsibilities of Board and Committees.
• Selective best practices
• Building an effective, holistic governance, risk and compliance model across an organization

DESIGNED FOR:

While this course is designed for professionals in audit, risk management and compliance, it is also suitable for business leaders, and members of Boards. This course will benefit Enterprise Risk Managers, PMO Managers, Risk and Quality Control Managers, Senior Audit Managers, Risk Officers, Product Control Managers, Compliance Managers, Value Managers, Business Strategy Managers and Managers addressing the complex external and internal influences of businesses that need to ensure a balance between governance, risk management and compliance