The role of the Compliance Officer - Searchlight Insurance Training

The role of the Compliance Officer

With regulatory emphasis now being placed firmly on application of principles-based, rather than ‘tick-box’ compliance, the compliance officer’s role has become far more consultative in nature. A purely directive approach to compliance is no longer fit for purpose (if it ever was) and this development continues to cause discomfort to many who are accountable for governing firm’s effectively and those responsible for reassuring them that regulatory requirements are being fulfilled in the business’s day-today operation. Increasingly, the role of the compliance officer is as much about being an agent of cultural change as it being a guardian of ‘The Rules’.

This half day interactive workshop examines the vital role the Compliance Officer must play in an environment where principles-based regulation prevails and where it is essential to strike the proper balance between prescriptive and advice-led compliance.

The course is intended for those wishing to gain a better understanding of the role played by Compliance Officers in achieving collaborative compliance and how this may enhance, or improve, the performance of a business through the greater empowerment of operational management.

Who Should Attend?

  • Executive and non-executive directors
  • Company Secretarial staff
  • Compliance officers / staff
  • Operational managers
  • Risk managers

Level: n/a

Duration: 0.5 day(s) CII CPD Hours: 3
     

WORKSHOP OBJECTIVES

By the end of this workshop, delegates will be able to:

  • articulate the importance of collaborative compliance in everyday business
  • understand the importance of promoting consultative, rather than prescriptive compliance – ‘winning hearts and minds’
  • consider the relationship between collaborative compliance and the organisation’s values and ethics and how these can be evidenced in line with the regulator’s expectations
  • consider the way in which compliance might be positioned within one’s own organisation to encourage support and engagement in all areas of the business
  • using collaborative compliance to solve problems, find solutions and improve business performance
  • determine how Board / senior management and compliance arrangements work and interact within one’s own business and what changes may be needed to meet the regulator’s expectations

WORKSHOP CONTENT

  • principles based regulation – what does this mean?
  • the function and responsibilities of a compliance officer
  • developing a risk-based compliance programme
  • engaging and working in collaboration with the business
  • monitoring and reporting compliance – who, when and how?
  • management information – the benefits of KISS and RAG
  • managing the relationship between compliance and risk
  • record keeping
  • interaction with FCA – what to expect
  • reporting to the FCA
  • pitfalls and how to avoid them – some examples from recent history

 

We are happy to offer post-workshop consultancy services to those firms who believe that they may have issues which they need specialist help in addressing.