Internal Controls for Financial Institutions

Course Information:

Online 20 hours Flexi-date£2,750.00
In-House Agreed with client FlexiblePOA
London 5 days 18 March 2024£4,250
London 5 days 15 July 2024£4,250
London 5 days 11 November 2024£4,250

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%).

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    Who should attend?

      • Regulatory authorities in Banking, Insurance, Pensions and Capital Markets
      • Executive and non-executive Board and committee members
      • Company secretaries
      • Shareholder representatives
      • Senior managers and executives
      • Corporate lawyers
      • Marketing specialists
      • Institutional investors


      • Describe key risk management and internal control concepts
      • Apply the main industry frameworks and standards which influence internal controls
      • Assess the effectiveness of their organisations internal controls
      • Demonstrate to and guide executives and management in the establishment of an appropriate control environment
      • Understand the effective usage of internal controls


    Internal Controls in the Context of Today’s Corporate Governance

    • What is Corporate Governance?
    • Why is it different for financial institutions?
    • Internal controls as a mechanism for controlling risks
    • Board and senior management responsibilities for internal controls and the establishment of a control culture
    • US Sarbanes Oxley Act 2002 and its requirements for monitoring and annual reporting on internal controls effectiveness

    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

    Register now for:
    Internal Controls for Financial Institutions


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