Corporate Compliance, Audit, Monitoring and Risk Management

Course overview

The organizational environment is ever-dynamic, marred with continuously changing risks that require the evolving framework of corporate compliance and risk management. Multiple corporations have wound up due to failure to conduct comprehensive risk management and adhere to adept compliance principles. The lessons offered in this course give an intensive and extensive coverage of corporate compliance, audit, monitoring, and risk management issues. This program is equipped with highly-interactive activities and real world-scenario examples that enhance the participant’s interest and passion for the subject at a personal and corporate level. The course highlights the theoretical basis of corporate compliance, audit, monitoring, and risk management, deeply evaluating the analytical techniques that businesses, individuals, and other industry participants require. Parties holding corporate compliance, audit, monitoring, and risk management responsibilities will find the course a vital necessity. Participants with general business knowledge interest and those planning to undertake careers in corporate compliance, audit, monitoring, and risk management will also find the course content useful. 

TARGET AUDIENCE

• Risk managers 
• Participants who wish to corporate compliance and risk management as a career
• Entrepreneurs and business leaders/managers
• Finance professionals
• Consultancy firms
• Legal and compliance managers
• Policy-makers
• Others

Learning Objectives

After completion of this course, participants should be conversant with the following:

• Distinguish the roles of internal audit and compliance departments respectively
• Compile a comprehensive and efficient program administration schedule.
• Meet strategic fit with corporate compliance programs.
• Understand the emerging issues in corporate compliance, audit, monitoring, and risk management. 
• Explain the significance of corporate compliance, audit, monitoring, and risk management.

Our Unique Training Methodology

Let me explain to you how this course is different from the thousands of other courses available on the internet.

• Pre-Assessment – Before beginning, a pre-assessment will be provided to assess the knowledge and skills of the participants.
• Lecture/Discussion – Lecture & discussion interactive session on the basics of human resource management to make participants more engage with the course.
• Guided Group Exercises – Dividing the class into small groups, an exercise, or a case study to work through.
• Hands-on Application – Providing participants with a hands-on application of the concepts they have learned.
• Post-Assessment – Question & answer session for solving all queries.

Training Medium

This Behavioral Interviewing training is designed in a way that it can be delivered face-to-face and virtually.

Course Duration

The training can be in the form of a full-fledged 40-hour program or a 15-hour crash course covering 5-hour content per day within 3 days.

Pre-course Assessment

• Planning your introduction – the brief will be shared with participants via mail
• Reading Reviewing the course outline training modules and sharing any rising amendments no more than 48 hours’ prior.
• Questionnaire answers will remain confidential and used only for purposes of understanding the participant’s expectation in this class. 

Course Modules

Module 1. Introduction 

• Introduction exercise: What are the benefits of corporate compliance and risk management? 
• The evolution of compliance
• The regulatory environment overview
• The significance of compliance
• Standards, policies, and procedures
• The role of regulators
• The link between internal audit and compliance departments
• Major stakeholders of corporate compliance, audit, monitoring, and risk management 

Module 2. Corporate Compliance Design

• Introduction exercise: Participants to voluntarily narrate their understanding of compliance design.
• What is compliance design
• Reporting procedures in corporate compliance
• Workplace safety and violence and anti-harassment measures
• Diversity and inclusion training
• Organizational policies
• Assurance coordination and assessment
• Oral peer-discussion question: How would you ensure independence if you were the compliance manager in your organization?

Module 3. Risk Management and Internal Controls

• Introduction exercise: Oral peer-discussion and response on what constitutes risk management and internal controls.
• Corporate risk identification, treatment, evaluation, and impact analysis
• Mitigating against corporate risk
• The relationship between organizational design and risk management
• Risk management in governmental organizations
• Live peer-discussion question: Participants should list any three factors that affect risk management in government parastatals and how to reduce the potential resultant impact.

Module 4. Establishing a Successful Program Administration 

• Introduction exercise: Homework-participants to research about compliance program and present what they found out in class.
• Introduction to program administration
• Role of the compliance officer in program administration
• Incorporating a functional whistle-blowing framework
• The working papers of program administration
• Corporate ethics and best practices in program administration
• The characteristics of an effective compliance program
• External and internal factors influencing compliance programs
• Food for thought: What would you do as the company compliance officer if you realize the finance department has been colluding with auditors to inflate corporate profits?

Module 5. The Steps of Risk-Control Self-Assessment

• Finding a strategic fit with the organizational objectives
• Identifying the operating model
• Risk identification, assessment, monitoring, and review
• Incident management
• Designing quality assurance improvement programs
• Self-assessment through the quality assessment guidelines
• Quantitative risk analysis 
• Factors affecting risk management 
• The features of a successful risk management framework
• Closing exercise: Participants to choose any publicly-listed firm and conduct a quantitative risk analysis 

Module 6. Emerging Issues in Corporate Compliance, Audit, Monitoring, and Risk Management

• Introduction 
• Cybercrime
• Third-party risk
• Employee-first culture
• Money laundering issues
• Climate change and ESG
• Compliance training in the new business environment
• Privacy compliance in internal audit
• Artificial intelligence 
• Food for thought: Do you think technology will significantly change the face of compliance and internal audit?

Lessons Learned

“It consumes lesser time to do the right thing than explaining why you did it wrong.” Henry Longfellow.

Risk management is the backbone of an organization due to its major role in keeping every department functional. Completing this course should enable you to realize that corporate compliance and risk management are applicable areas in almost all corporate dealings. By now, you should have learned the meaning of the terms “risk control” and “program administration”, how to conduct an environmental risk assessment, and decided how you want to apply your corporate compliance, audit, monitoring, and risk management knowledge. As a brand of this esteemed course, you should now be confident enough to conquer the subject-related issues in the actual business platform.