In an increasingly complex and interconnected global economy, central banks are under immense pressure to uphold the highest standards of integrity, transparency, and accountability. This specialized 5-day training course, "Compliance Champions," is meticulously designed to empower central bank professionals to not only understand but also master the intricate legal and ethical frameworks that govern their institutions. By diving deep into the principles of good governance, robust risk management, and ethical leadership, this program ensures that participants can effectively navigate modern challenges, from regulatory changes to cybersecurity threats, and build a culture of compliance that is both proactive and resilient.

A central bank's credibility is its most valuable asset, and a strong ethical compass is its most reliable safeguard. This course moves beyond a simple overview of rules and regulations, offering a dynamic, hands-on approach to building and sustaining a world-class compliance program. Through a blend of theoretical instruction, real-world case studies, and practical exercises, participants will gain the confidence and expertise to lead compliance initiatives, mitigate reputational and operational risks, and champion ethical conduct at every level of their organization. "Compliance Champions" is a strategic investment in the future of central banking, preparing a new generation of leaders to safeguard their institutions in a rapidly evolving financial landscape.

Duration: 5 days

Target Audience:

• Compliance officers and ethics professionals in central banks
• Legal advisors and general counsel
• Risk managers and internal auditors
• Senior and middle management responsible for oversight and governance
• Human resources and training officers
• Officials involved in anti-money laundering (AML) and counter-financing of terrorism (CFT)
• Policy advisors and economists
• IT and cybersecurity professionals
• Board members and committee members
• Regulatory affairs specialists

Objectives:

• Understand the foundational principles of central bank compliance and ethics.
• Develop and implement a comprehensive compliance program.
• Identify and mitigate key compliance and ethics risks.
• Establish a strong ethical culture within the central bank.
• Navigate the legal and regulatory frameworks governing central bank operations.
• Learn best practices for managing conflicts of interest and insider trading.
• Address the unique challenges of data protection and cybersecurity.
• Enhance internal controls and governance structures.
• Promote transparency and accountability through effective reporting mechanisms.

Course Modules:

Module 1: Foundations of Central Bank Compliance

• The role and purpose of compliance in central banking
• Legal and regulatory obligations of central banks
• Developing a robust compliance and ethics framework
• The importance of tone from the top and ethical leadership
• Building a culture of compliance

Module 2: Governance, Risk, and Internal Controls

• Central bank governance structures and committee roles
• Risk identification, assessment, and management methodologies
• Designing and implementing effective internal controls
• The role of internal and external audit in compliance oversight
• Reporting and escalation procedures for compliance issues

Module 3: Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT)

• Central bank's role in the national AML/CFT regime
• Key international standards and best practices
• Sanctions compliance and management of politically exposed persons (PEPs)
• Developing effective AML/CFT policies and procedures
• The use of technology in AML/CFT compliance

Module 4: Market Integrity and Conflicts of Interest

• Identifying and managing conflicts of interest
• Policies on personal financial transactions and insider trading
• Confidentiality and information security protocols
• Ethical considerations in monetary policy and market operations
• Maintaining market integrity and preventing market abuse

Module 5: Data Protection and Cybersecurity

• Legal and ethical considerations in data privacy and protection
• Cybersecurity compliance and risk management strategies
• Responding to data breaches and security incidents
• The legal and ethical implications of technology adoption
• Developing and implementing a cybersecurity framework

Module 6: Human Resources and Ethical Conduct

• Developing a code of conduct and ethics for employees
• Fair employment practices and non-discrimination policies
• Managing harassment and workplace misconduct
• Whistleblower protection and internal reporting channels
• Employee training and awareness programs

Module 7: Emerging Risks and Global Standards

• The rise of central bank digital currencies (CBDCs) and new compliance challenges
• Ethical implications of artificial intelligence and machine learning
• Legal and ethical considerations for climate-related financial risks
• International cooperation and information sharing among central banks
• Adapting compliance frameworks to a rapidly changing world

Module 8: Oversight, Reporting, and Accountability

• Designing a transparent and effective compliance reporting system
• Communicating compliance status to the board and senior management
• The role of legal and compliance functions in accountability
• Responding to regulatory examinations and audits
• Best practices for corrective action plans

Module 9: Practical Application and Case Studies

• Analyzing real-world compliance failures and successes
• Conducting a mock compliance risk assessment
• Developing a compliance communication plan
• Interactive workshops on ethical dilemmas
• Group projects on building a compliance program

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 7 working days before commencement of the training.