Risk and Compliance on Electronic Payments Systems

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Risk and Compliance on Electronic Payments Systems

Goal of The Course

Who is The Course For

Course Content

Course Details

Course Perks

Goal of this Course

For Risk and Compliance professionals, meeting management's expectation can sometimes be a huge task, most especially when expectations exceed the team's capability to deliver, thereby resulting in disappointing outcomes.

This program is designed to bridge knowledge gap and provide participants with better understanding of the regulatory compliance needs, potential risks and important stakeholders in the payments industry. The goal of this course is to provide participants with knowledge and skills that can immediately be used upon return to the organization.

In an era where support functions are mostly seen as mere cost centers in an organisation, participants will learn to appreciate the extent to which Risk and Compliance functions can positively impact the organization’s bottom-line through effective Risk-Based management approach.

Who is the Course for

  • Compliance Officers/Managers
  • Risk Officers/Managers
  • Chief Audit Executives
  • Audit Directors
  • Audit managers and Team Leads
  • Key individuals
  • Business Development Executives
  • Anyone who is responsible for risk and compliance affairs or regulatory relationships

Course Content

Module 1: Compliance Risk Management

  • Compliance
  • Role of Compliance
  • Levels of Compliance Risk Management

Module 2: Anti-Money Laundering and Counter Financing of Terrorism, Counter Proliferation Financing

  • Definition (ML/TF/CPF)
  • Three (3) Stages of Money Laundering
  • Comparison between ML, TF and PF
  • What Legislation Exist in Nigeria to Address ML/TF/PF?
  • The Financial Action Task Force (FATF) -FATF Standards
  • AML/CFT/CPF trends and challenges today

Module 3: Compliance Programme

  • Pillars of Compliance
  • Elements of an Effective Compliance Programme
  • Elements of an AML/CFT Programme
  • Customer Due Diligence
  • Monitoring/Reporting
  • What Are Suspicious Transactions / Activities?
  • KYC Principles
  • Record Keeping - Sec 35 & 36
  • Role of the board and senior management - Section 9 of CBN AML/CFT/CPF Regulation 2022
  • AML/CFT Offences and Penalties

Module 4: Ethics and Compliance (WB/AB&C/OBI/Gift Policy)

  • Anti-bribery and Corruption
    • Overview of Bribery and Corruption
    • Corruption Risks
    • Legal and Regulatory Framework to address Bribery and Corruption
    • Elements of an Anti-Bribery and Corruption (ABAC) Programme
  • Whistle Blowing
    • Definition
    • Components of a Whistle blowing programme
    • Compliance Maturity Model
  • Risk and Control
    • Definition and Identification of Risk
    • Risk Prioritization
    • Compliance officer - Section 13 CBN AML/CFT/CPF regulation
    • Monitoring/Reviewing Risk and Controls
    • Role of Internal Audit

Module 5: Electronic Payment Risk Management

  • Risk Management Principles for Electronic Payment
    • Risk and Risk Management
    • Risk Analysis
    • Risk Categories
    • Risk Impact Scoring
    • Risk Heat Map
    • Inherent Risk Vs. Residual Risk
    • Principles Of Risk Management
    • Benefits Of Risk Management
    • Risk Management Process
    • Proactive Vs. Reactive Risk Management
  • ERM Framework
    • The ERM Framework
    • COSO ERM Framework
    • ISO 31000 ERM Framework
    • COSO, ISO 31000, and the ERM Framework
    • Critical Success Factors for ERM
    • Key Performance Indicators for ERM
    • Three (3) Lines of Defense
  • E-Payment Risk Management
    • Board and Management Oversight (Principles 1 to 3)
    • Security Controls (Principles 4 to 10)
    • Legal & Reputational Risk Management (Principles 11 to 14)
    • E-Payment Fraud
    • The Fraud Triangle
    • Electronic Payment Opportunities

Module 6: The payment Ecosystem

  • Payment Stakeholders
  • Payment Ecosystem
  • Electronic Payment Channels

Module 7: Nigeria Payment System Environment

  • Payment Regulators in Nigeria
  • National Payments System vision 2020 (PSV2020)
  • Nigeria Payment Ecosystem
  • Payment Licensing & Structure
  • IT Standards for NFS Industry - DMB, PSPS, NMFBS

Module 8: Cybersecurity for Digital Payment

  • Cybersecurity Triad
  • Terms and Definition
  • Threat Landscape
  • Digital Payment Ecosystem
  • Cybersecurity Frameworks
  • Certifications and Standards

Course Details

  • Homework: develop an anti-money laundering review plan for the Bank

    Case studies will be used to demonstrate how organizations have implemented compliance programmes
  • Homework: to assess and comment on a compliance case study highlighting areas of concern
  • FEES: ₦220, 000 per participant.
  • LOCATION: Virtual
  • MODE OF DELIVERY: The course, which will be facilitated by Subject Matter Experts and delivered in a variety of ways including:
    · Practical learning scenarios and case studies
    · Breakout sessions
    · Questions and answers session
  • DURATION: 2 days

Course Perks

  • Attendee workbook
  • Presentation
  • Digital Badge upon completion
  • Virtual machine training environment

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Special guide for you

Explore our Innovative curriculum designed in guidance with industry experts to equip you with job-ready digital skills.

The training programme was engaging and intensely practical, leaning on real-life scenarios that resonated with the day-to-day operations of all attendees.

Abimbola Babalola

Technology, Sterling Bank

It was an eye-opener and it made vivid and succinct things that were obscured before the training.

Ohiozoje Augustine Ohio

Remedial Officer, Parallex Bank

The program delivery is great and the class interaction is good to foster shared knowledge

Ajayi Alaba

Compliance Officer, Eco Bank

The programme was very interesting with lots of ideas to look into back at work. While the presenters were excellent, engaging and experienced

Ebenezer Akinyemi

Head Fintech Partnership and Eco System, Parallex Bank

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