Introduction:

 The Compliance Risk Management training course is designed to provide participants with a thorough understanding of the strategies, tools, and methodologies needed to identify, assess, and manage compliance risks effectively. As regulatory landscapes grow increasingly complex, organizations must proactively manage compliance risks to prevent violations, enhance reputation, and support sustainable operations. This course covers the essentials of risk assessment, compliance program development, monitoring, and reporting, providing participants with a comprehensive framework to manage compliance risks across various functions.

Objectives:

• Understand the principles of compliance risk management and the importance of integrating it into overall risk management.
• Develop skills to conduct compliance risk assessments and prioritize risk mitigation efforts.
• Learn to establish and manage a compliance program that aligns with regulatory standards and best practices.
• Gain proficiency in monitoring, auditing, and reporting compliance risks.
• Strengthen communication skills for reporting compliance risks to stakeholders and ensuring accountability.

Who Should Attend? This course is ideal for:

• Compliance officers, risk managers, and internal auditors responsible for compliance oversight.
• Legal advisors, regulatory officers, and financial controllers involved in managing regulatory risks.
• Business leaders and managers in high-risk industries who wish to strengthen their risk management capabilities.
• Professionals in corporate governance and internal control roles.
• Anyone interested in developing skills in compliance risk management to ensure organizational integrity.

Day 1: Foundations of Compliance Risk Management

• Introduction to Compliance Risk Management: Understanding the scope, importance, and objectives.
• Compliance Risk vs. Other Risks: Differentiating compliance risks from operational, financial, and strategic risks.
• Frameworks for Compliance Risk Management: Overview of COSO, ISO 31000, and other compliance risk management frameworks.
• Key Elements of a Compliance Risk Management Program: Policies, training, risk assessment, and monitoring.
• Workshop: Case study on defining compliance risks and establishing program objectives for a hypothetical organization.

Day 2: Compliance Risk Assessment and Risk Prioritization

• Conducting a Compliance Risk Assessment: Identifying, analyzing, and categorizing compliance risks.
• Risk Prioritization Techniques: Using heat maps, scoring models, and other techniques to prioritize risks.
• Evaluating the Regulatory Environment: Understanding how to assess and adapt to regulatory changes.
• Setting Risk Appetite and Tolerance: Establishing acceptable levels of compliance risk for the organization.
• Practical Exercise: Performing a compliance risk assessment and developing a risk prioritization matrix for a sample organization.

Day 3: Developing and Implementing a Compliance Program

• Designing a Compliance Program: Core components, including policies, procedures, and internal controls.
• Training and Awareness for Compliance: Creating effective compliance training and awareness programs.
• Embedding Compliance into Business Processes: Strategies for integrating compliance measures across functions.
• Third-Party Compliance Management: Managing compliance risks with vendors, suppliers, and partners.
• Hands-on Lab: Developing a compliance program plan and policies for a simulated organization.

Day 4: Monitoring, Auditing, and Continuous Improvement

• Ongoing Monitoring and Internal Audits: Techniques for tracking and auditing compliance risk management activities.
• Key Compliance Indicators (KCIs) and Metrics: Identifying and measuring key indicators to assess compliance health.
• Incident Response and Corrective Actions: Developing a process for investigating and addressing compliance breaches.
• Continuous Improvement in Compliance Risk Management: Strategies for refining the compliance risk management process.
• Practical Exercise: Setting up a compliance monitoring program and developing key compliance indicators.

Day 5: Reporting, Communication, and Governance in Compliance Risk Management

• Compliance Risk Reporting: Structuring reports for board members, executives, and stakeholders.
• Effective Communication of Compliance Risks: Techniques for clearly communicating risks, findings, and recommendations.
• Ensuring Governance and Accountability: Role of leadership in compliance risk management and establishing accountability.
• Emerging Trends in Compliance Risk Management: Exploring trends such as digital compliance, AI, and ESG integration.
• Final Workshop: Preparing and presenting a compliance risk management report for a simulated organization, highlighting findings, recommendations, and governance structure.

Conclusion and Assessment: Participants will complete a final assessment to demonstrate their understanding of compliance risk management principles and practices. A feedback session will provide an opportunity for discussion, sharing best practices, and identifying actionable steps for implementing or enhancing compliance risk management within their organizations.