In an interconnected global financial landscape, the integrity of a central bank is paramount. This specialized training course, "Safeguarding Integrity," is designed to equip central bank professionals with a comprehensive understanding of modern anti-corruption frameworks and the skills needed to implement them effectively. By focusing on a risk-based approach, the program addresses the unique vulnerabilities central banks face, from procurement and foreign reserves management to policy-making and data security. Participants will gain actionable insights into identifying, assessing, and mitigating corruption risks, reinforcing their institution's reputation as a bulwark of economic stability and trust.

Central banks are not immune to the threats of corruption, which can erode public confidence, distort policy effectiveness, and lead to significant financial and reputational losses. This intensive 5-day course provides a deep dive into proactive risk management strategies, leveraging international best practices and real-world case studies. It empowers leaders to cultivate a culture of ethics and transparency, ensuring their organizations are not only compliant with global standards but are also resilient against sophisticated forms of financial crime. "Safeguarding Integrity" is the essential program for central bank leaders committed to upholding the highest standards of probity and institutional excellence.

Duration: 5 days

Target Audience:

• Central bank governors and deputy governors
• Members of the central bank's board and audit committees
• Heads of compliance, legal, and risk management
• Senior internal auditors and inspectors
• Directors of human resources and procurement
• Senior economists and policy advisors
• Heads of financial stability and payments systems
• Executives responsible for foreign reserves management
• Directors of cybersecurity and IT governance
• Leaders from financial intelligence units and other regulatory bodies

Objectives:

• Identify and assess the unique corruption risks within a central bank
• Develop a robust anti-corruption framework and policy
• Implement a risk-based approach to anti-corruption
• Understand global standards and regulatory expectations
• Strengthen internal controls and governance structures
• Foster a culture of integrity and ethical conduct
• Manage conflicts of interest and third-party risks
• Enhance transparency and accountability mechanisms
• Learn best practices for responding to and investigating corruption allegations

Course Modules: Module 1: Foundations of Anti-Corruption in Central Banks

• Defining corruption and its impact on central bank mandates
• Overview of international anti-corruption conventions and standards
• The role of institutional independence in preventing corruption
• The link between anti-corruption and financial stability
• Case studies of corruption vulnerabilities in central banking

Module 2: Developing a Risk-Based Anti-Corruption Framework

• Establishing a corruption risk management policy
• Conducting a comprehensive corruption risk assessment
• Identifying red flags in procurement, hiring, and policy decisions
• Integrating corruption risk into the enterprise risk management (ERM) framework
• Setting up a central anti-corruption committee

Module 3: Internal Controls and Governance

• Designing and implementing effective internal controls
• The role of internal audit in corruption prevention and detection
• Board and management oversight of anti-corruption efforts
• Segregation of duties and delegation of authority
• Leveraging technology for enhanced oversight and control

Module 4: Procurement and Supply Chain Integrity

• Managing corruption risks in public procurement
• Due diligence on vendors and third-party contractors
• Developing and enforcing a supplier code of conduct
• Preventing conflicts of interest in the procurement process
• Best practices for transparent and competitive tendering

Module 5: Human Resources and Ethical Culture

• The importance of a strong ethical culture and leadership
• Employee screening, background checks, and integrity testing
• Developing and enforcing a code of conduct for central bank staff
• Managing conflicts of interest and public office ethics
• Establishing whistleblower protection and reporting channels

Module 6: Financial Operations and Reserves Management

• Anti-corruption controls in foreign reserves management
• Mitigating risks in investment and trading activities
• Safeguarding the integrity of payments and settlements systems
• Preventing fraud and corruption in currency issuance and distribution
• Case studies on financial crime and central bank operations

Module 7: Data Integrity and Cybersecurity

• The threat of cyber-enabled corruption and data manipulation
• Protecting sensitive information and policy data
• Governance of technological change and innovation
• The role of cybersecurity in anti-corruption efforts
• Data governance policies to ensure accuracy and prevent misuse

Module 8: Investigations and Enforcement

• Developing a robust internal investigations protocol
• Responding to allegations and managing reputation
• Cooperation with national law enforcement and regulatory bodies
• Remediation strategies following a corruption incident
• Sanctions and disciplinary actions for misconduct

Module 9: Communication and Transparency

• Strategic communication in anti-corruption efforts
• Building public trust and managing stakeholder expectations
• The role of transparency in central bank operations
• Internal communication strategies to embed an anti-corruption culture
• External reporting and disclosures on anti-corruption measures

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.