General Description
The Regulatory Compliance and Compliance Program Management training package provides a comprehensive practical framework for understanding and managing compliance within organizations based on a risk- and evidence-based approach. The training package introduces learners to the concept of compliance, its scope and boundaries, and its relationship with laws, regulations, internal audit, controls, and risk management, while clarifying the responsibilities of different parties within the compliance framework.
The training package covers the sources of regulatory and institutional obligations, mechanisms for classifying them, and determining their scope of application and respective owners. It then moves to translating compliance obligations into assessable non-compliance risks and analyzing the relationship between risks, controls, and evidence. It also focuses on applying Evidence-Based Gap Analysis to identify compliance gaps and prioritize them according to risk level and priority.
Learners are also introduced to the key components of a Compliance Management System and how to design a Risk-Based Compliance Program, including prioritization, control activities, and Testing & Monitoring mechanisms to verify the effectiveness of controls and ensure continued compliance.
The training package also addresses the management of non-compliance cases (Issues), corrective actions, escalation, follow-up, and the preparation of clear compliance reports directed to management or the appropriate supervisory authority.
The Goals
- Explains the concept of compliance and distinguishes it from law, auditing, monitoring, and risk management.
- Classifies organizational obligations and identifies the source, scope of applicability, and method of implementation for each obligation.
- Converts a Compliance Obligation into an assessable Compliance Risk.
- Analyzes the relationship between Compliance Risk, Compliance Control, and Evidence.
- Assesses the current state of compliance using Evidence-Based Gap Analysis.
- Prioritizes compliance gaps according to risk priority.
- Designs the key components of a risk-based compliance program.
- Designs Monitoring & Testing Activities appropriate to the nature of the obligations
