The integrity and resilience of a nation’s payment systems are paramount to a functioning economy. This training course offers an in-depth exploration of the frameworks, tools, and best practices central banks and supervisory bodies use to oversee these critical financial market infrastructures. We will delve into the principles of effective governance, risk management, and operational resilience, ensuring that participants can navigate the complexities of a rapidly evolving payments landscape. This program is designed for professionals who need to master the art of safeguarding payment systems against a wide range of threats, from cyberattacks to systemic liquidity shocks.

This five-day program goes beyond theoretical concepts to provide a practical understanding of how to build and maintain a secure and reliable payment infrastructure. Participants will learn how to apply international standards, conduct risk assessments, and develop robust contingency plans. Through a series of real-world case studies and expert-led discussions, attendees will gain the skills to evaluate new payment technologies, manage operational disruptions, and contribute to the development of a resilient financial ecosystem. By the end of this course, you will be equipped with the knowledge and expertise to enhance the oversight and stability of your institution's payment systems.

Duration: 5 days

Target Audience:

• Central bank payment systems and oversight staff
• Financial market infrastructure managers and operators
• Financial regulators and supervisors
• Risk managers and chief risk officers
• Information technology and cybersecurity professionals
• Policy makers in finance ministries
• Treasury and back-office operations personnel
• Internal auditors and compliance officers
• International financial institution staff
• Executives and board members

Objectives:

• Grasp the core principles of payment system oversight
• Understand the role of the central bank in ensuring payment system resilience
• Apply international standards for financial market infrastructures (PFMI)
• Identify and mitigate operational, legal, and credit risks
• Formulate robust business continuity and disaster recovery plans
• Evaluate the risks posed by new payment technologies and FinTech
• Interpret the governance and legal frameworks for payment systems
• Assess the interconnectedness of payment systems and its implications for systemic risk
• Develop a framework for crisis management and resolution

Course Modules: Module 1: Foundations of Payment System Oversight

• The core functions and components of a payment system
• The role of the central bank as an overseer and operator
• The principles and objectives of payment system oversight
• The legal and institutional framework for oversight
• The importance of payment systems for financial stability

Module 2: International Standards and Best Practices

• The Principles for Financial Market Infrastructures (PFMI)
• Applying the PFMI to different types of payment systems
• The role of the Committee on Payments and Market Infrastructures (CPMI)
• International cooperation and harmonizing standards
• Peer reviews and self-assessment methodologies

Module 3: Operational Resilience

• Identifying and managing operational risks
• The role of technology in payment system resilience
• Developing a robust business continuity framework
• Cybersecurity threats and mitigation strategies
• The importance of service provider oversight

Module 4: Risk Management in Payment Systems

• Understanding credit, liquidity, and settlement risk
• The role of risk controls and collateral management
• Managing legal and governance risks
• Analyzing system-wide risk and interconnectedness
• The role of stress testing and scenario analysis

Module 5: Governance and Legal Frameworks

• Establishing effective governance for a payment system
• The role of rules, procedures, and participant agreements
• Ensuring transparency and accountability in operations
• The legal basis for finality of settlement
• The role of the central bank in enforcing regulations

Module 6: Oversight of New Technologies

• The challenges of regulating FinTech and digital payments
• The oversight of distributed ledger technology (DLT)
• The role of central banks in central bank digital currencies (CBDCs)
• Managing the risks of open banking and APIs
• The impact of innovation on payment system infrastructure

Module 7: Crisis Management and Resolution

• Planning for and responding to a payment system disruption
• The central bank as a provider of emergency liquidity
• The role of a crisis management plan
• Lessons from past payment system failures
• Cross-border crisis coordination

Module 8: Oversight of Different Payment Instruments

• The oversight of high-value payment systems (RTGS)
• The regulation of retail and mobile payments
• The role of oversight in card schemes and clearinghouses
• The challenges of overseeing cross-border payments
• The impact of new payment methods on oversight

Module 9: The Future of Payment System Oversight

• The future of payment system technology and infrastructure
• The role of data analytics and surveillance tools
• The challenges of globalized and fragmented payment systems
• The evolving role of central banks in a digital era
• The importance of inclusive and resilient payment systems

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.