Advanced Corporate Governance for Financial Institutions
Designed for executives, board members, and key stakeholders in financial institutions, our Advanced Corporate Governance for Financial Institutions course provides in-depth training on governance principles, regulatory compliance, and risk management.
|Agreed with client
|11 March 2024
|8 July 2024
|4 November 2024
If you are unable to attend this course on the dates above, please contact us to discuss alternative options.
Please note that prices shown above are exclusive of VAT (20%).
Who should attend?
- Managers and executives who want a deep appreciation of the critical role of corporate governance
- Regulators who are developing and implementing codes and standards
- Board members who have clear responsibilities and obligations which they need to understand and exercise
- Audit committee, nominations committee and other committee members who need to explore their roles and purposes
- Company secretaries who have specific governance responsibilities
- Aspiring Board members who want to quickly increase their knowledge
- Senior staff who support the Board and its committees
- Internal auditors who will be verifying internal controls
- Other stakeholders and investors who need to monitor and challenge the application of standards
- In-house lawyers who have responsibilities for guidance and interpretation
- Understand corporate governance of the international financial sector
- Develop and apply local codes to their own environment
- Understand the applicability of their own existing practices and structures in comparison with growing international best practice
- Appreciate the inter-dependence of Governance, Risk management & Compliance (GRC)
- Evaluate the key features of enterprise risk management
- Develop procedures and internal controls relevant to financial sector institutions
- Understand the triple-bottom line of Environmental, Social and Governance
- Develop best practice in compensation and remuneration
The World of Corporate Governance Today
- International events leading to governance reform
- Purpose and objectives of governance including agency risk and moral hazard
- US Sarbanes Oxley Act style legislation vs. UK-style voluntary code: focusing where possible on participants’ countries
- Standards-driving bodies and evolving principles
- Formative regulatory bodies including OECD, Basel Committee, SECs and CMAs, Central Banks
Main Components and principles
- OECD Code core concepts and guidance
- Listing requirements and continuous obligations
- Corporate Governance in the financial sector – raising the bar – what is special about banks and bank governance?
- Basel Committee’s guidance on enhancing corporate governance for the banking sector
- Review of European Union’s approach to Corporate Governance in Financial Institutions
Eight principles which underpin every system of governance:
The Governing Body
- What does a “Good” financial institution look like
- Alternative board structures – dual and unitary boards
- Different types of board members: their roles and responsibilities, including the Secretary to the Board
- The growing importance of the INED
- The vital role of Board Committees in the new era of governance, including the audit committee, nominations & remuneration committee and the risk committee
Corporate Governance, Risk Management and Compliance (GRC) in Financial Institutions
- The growth and linkage of these three topics in finance
- The main components of Enterprise Risk Management (ERM)
- The central role of internal controls and linkage to ERM
- Best practice compensation principles and standards
- Shareholders, depositors and other stakeholders need for disclosure and transparency
Environmental, Social and Governance (ESG)
- Defining ESG
- The link between ESG and Corporate Governance
- ESG – economic, legal, ethical and discretionary aspects
- ESG and financial institutions – is it just a public relations exercise?
- Where does the regulator fit in?
- The course will end with a multi-choice questionnaire to assess the level of knowledge gained and to fresh and assist the retention of new information
Main Components and principles of Internal Controls
- The definition and purpose of internal controls
- The five components of the original COSO internal controls framework
- Integration of the original COSO control framework into COSO Enterprise Risk Management framework (ERM)
- Linking COBIT to COSO – Information technology framework and internal controls
Financial Sector Regulators and Internal Controls
- The three categories of objectives for internal controls
- COSO internal controls framework – the expanded 2013 revision
- The new seventeen principles – practical application to provide comprehensive controls
- The strong link between Basel II operational risk management and COSO
- Inherent limitations of internal controls
The Control Environment
- The vital first step – establishing the management tone at the top and an institution-wide code of conduct reflecting integrity and ethical values
- Board and management’s delegation of authority
- Commitment to competence – attracting, developing and retaining the right human resources
- Performance measures, incentives and rewards
Types of Internal Controls
- Risk appetite and strategy established by the Board and risk response strategies
- Control activities, internal controls, responsibilities and uses through the eyes of different stakeholders
- Inherent and residual risks
- Reporting and assurance
Advanced Corporate Governance for Financial Institutions
In an era marked by rapid regulatory changes and heightened expectations for financial accountability, understanding the nuances of corporate governance in financial institutions has never been more essential. Our Advanced Corporate Governance for Financial Institutions course provides a comprehensive exploration of the governance landscape, tailored specifically for the financial sector.
This course thoroughly examines the core principles underpinning effective corporate governance in financial institutions. Participants will gain insights into the global standards and frameworks that guide governance practices, including those set by the Basel Committee and the OECD. The focus will be on practical applications of these principles to enhance organisational integrity and public trust. The course also addresses the growing importance of Environmental, Social, and Governance (ESG) considerations in corporate governance. It covers the role of ESG factors in decision-making processes and their impact on long-term sustainability and ethical practices in financial institutions. Through case studies and discussions, participants also explore the latest developments in financial regulations and the strategies for ensuring institutional compliance.
Join industry peers and leading experts in our Advanced Corporate Governance for Financial Institutions course. Register now to secure your place and lead your institution with governance excellence.
For staff with little to no experience in corporate governance for financial institutions, we also offer a Corporate Governance for Financial Institutions course to cover basic principles, compliance and risk management.