The backbone of the global financial system is its messaging and settlement infrastructure, which requires unwavering security and resilience. This training course offers an in-depth examination of the principles and practices that ensure the integrity of these critical operations. We will explore the technologies, protocols, and governance frameworks designed to protect financial messaging from cyber threats, operational failures, and fraud. This program is essential for professionals who need to master the design, implementation, and oversight of secure financial systems that are capable of withstanding constant threats while ensuring the smooth and reliable flow of payments.

This intensive five-day program is a practical guide to building and maintaining a resilient financial infrastructure. Participants will delve into key areas such as cryptography, global messaging standards like ISO 20022, and the operational requirements for real-time gross settlement (RTGS) systems. Through a combination of technical deep-dives, regulatory case studies, and hands-on discussions, attendees will gain the skills to conduct risk assessments, develop robust security protocols, and formulate effective crisis response strategies. By the end of this course, you will be equipped to contribute to the creation and maintenance of a financial system that is both efficient and secure.

Duration: 5 days

Target Audience:

• Central bank payment systems staff
• Financial market infrastructure managers
• Information technology and cybersecurity experts
• Financial regulators and supervisors
• Risk managers and compliance officers
• Treasury and back-office operations personnel
• Legal and governance professionals
• FinTech developers and architects
• Internal auditors and business continuity planners
• Executives in financial services

Objectives:

• Grasp the core principles of secure financial messaging and settlement
• Understand the key security threats to payment systems
• Formulate risk management and mitigation strategies
• Interpret and apply global messaging standards like ISO 20022
• Design resilient and fault-tolerant payment system architectures
• Evaluate cryptographic methods for data protection and authentication
• Develop a framework for crisis management and incident response
• Assess the role of central banks in payment system oversight
• Examine the impact of new technologies on security and resilience

Course Modules: Module 1: Foundations of Financial Messaging & Settlement

• The role of messaging in the payment lifecycle
• The difference between clearing and settlement
• The architecture of a real-time gross settlement (RTGS) system
• The principles of payment finality
• Understanding key stakeholders in the payment ecosystem

Module 2: Security & Risk Management

• The threat landscape: cyberattacks, fraud, and operational errors
• Principles of a comprehensive security framework
• Conducting a payment system risk assessment
• The role of access control and network security
• Incident response and post-mortem analysis

Module 3: Global Messaging Standards & Protocols

• The evolution of messaging standards: SWIFT and ISO 20022
• The benefits of migrating to ISO 20022
• The structure and components of a financial message
• Implementing message validation and integrity checks
• The challenges of interoperability and cross-border messaging

Module 4: Design of Payment Systems

• Architectural choices for RTGS and ACH systems
• The role of a central bank as the system operator
• Designing for high availability and performance
• The use of redundant systems and backup sites
• Balancing efficiency with security in system design

Module 5: Infrastructure & Operational Resilience

• The importance of physical security for data centers
• Redundancy and failover mechanisms
• Developing a robust business continuity plan
• The role of third-party service providers
• Auditing and testing for operational resilience

Module 6: Oversight & Governance

• The central bank's role as a payment system overseer
• Applying international standards and principles
• The legal and regulatory framework for payment systems
• The importance of transparent governance
• Enforcing compliance and best practices

Module 7: Cryptography & Authentication

• The fundamentals of symmetric and asymmetric cryptography
• The use of digital signatures and certificates
• Securing the communication channel with TLS/SSL
• The role of public key infrastructure (PKI)
• Authentication protocols for system participants

Module 8: Emerging Technologies

• The impact of distributed ledger technology (DLT)
• The role of APIs in modern payment systems
• The security implications of FinTech innovation
• The use of data analytics for fraud detection
• Future trends in payment technology

Module 9: Crisis Management & Future Trends

• Developing a payment system crisis management plan
• The role of the central bank during a system disruption
• The future of secure financial messaging
• The convergence of payment and identity systems
• The long-term outlook for payment system security

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.