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Distance
Learning and Online Certification Program -
Become a Certified Risk and Compliance Management Professional |
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Distance
Learning and Online Certification Program -
Certified Information Systems Risk and Compliance Professional |
Certified Risk and Compliance
Training
International
Association of Risk and Compliance Professionals (IARCP)
The
International Association of Risk and Compliance Professionals
(IARCP) develops and maintains a compendium of risk and
compliance topics. Subject matter experts review and update this
body of knowledge.
The Association offers two risk and
compliance certificates:
1.
Certified Risk and Compliance Management
Professional (CRCMP)
2. Certified Information
Systems Risk and Compliance Professional (CISRCP)
Instead of training,
you can have more
1.
Training
2. Certificate
by the International Association of Risk and Compliance
Professionals (IARCP).
3.
Membership and Updates
- You will become (at no cost) a
member of the International Association of Risk and Compliance
Professionals (IARCP), to stay current with new developments in
risk and compliance around the world.
You will continue to learn,
month after month.
As members in the International Association
of Risk and Compliance Professionals (IARCP), you are entitled to
write about your membership in your CV, resume, websites etc.
using the name and the logo of the association.
4. Networking
opportunities
First Certified Course
Certified Risk and Compliance Management Professional (CRMCP)
This course
has
been designed to provide with the
knowledge and skills needed to understand and support regulatory
compliance and enterprise wide risk management, and to promote
best practices and international standards that align with
business and regulatory requirements.
The course
provides with the skills needed to pass the
Certified Risk and Compliance
Management Professional (CRCMP) exam.
This
course is intended for
professionals that want to understand risk and compliance and to
work as risk and compliance officers. They will prove that they
are qualified, when they pass the Certified Risk and Compliance
Management Professional (CRCMP) exam.
This course
is intended for employers
demanding qualified risk and compliance professionals. The
course is recommended for senior executives involved in risk and
compliance.
PART A:
COMPLIANCE WITH LAWS AND REGULATIONS, AND RISK MANAGEMENT
Introduction
Regulatory
Compliance and Risk Management
Definitions,
roles and responsibilities
The role of
the board of directors, the supervisors, the internal and
external auditors
The new
international landscape and the interaction among laws,
regulations, and standards
The
difference between a best practice and a regulatory obligation
Benefits of
an enterprise wide compliance program
Compliance
culture: Why it is important, and how to communicate the
obligations
Policies,
Workplace Ethics, Risk and CompliancePolicies, procedures, the
code of conduct
Privacy and
information security
Handling
confidential information
Conflicts of
interest
Use of
organizational property
Fair dealings
with customers, vendors and competitors
Reporting
ethical concerns
The
definition of Governance, Risk and Compliance
The need for
Internal Controls
Understand
how to identify, mitigate and control risks effectively
Approaches to
risk assessment
Qualitative,
quantitative
Integrating
risk management into corporate governance and compliance
PART B:
THE FRAMEWORKS
Internal
Controls - COSO The Internal Control — Integrated Framework by
the COSO committee Using the COSO framework effectively
The Control
Environment
Risk
Assessment
Control
Activities
Information
and Communication
Monitoring
Effectiveness
and Efficiency of Operations
Reliability
of Financial Reporting
Compliance
with applicable laws and regulations
IT Controls
Program
Development and Program Change
Deterrent,
Preventive, Detective, Corrective Controls
Recovery,
Compensating, Monitoring and Disclosure Controls
Layers of
overlapping controls
COSO
Enterprise Risk Management (ERM) Framework
Is COSO ERM
needed for compliance?
COSO and COSO
ERM
Internal
Environment
Objective
Setting
Event
Identification
Risk
Assessment
Risk Response
Control
Activities
Information
and Communication
Monitoring
The two cubes
Objectives:
Strategic, Operations, Reporting, Compliance
ERM –
Application Techniques
Core team
preparedness
Implementation plan
Likelihood
Impact
COBIT - the
framework that focuses on IT
Is COBIT
needed for compliance?
COSO or
COBIT?
Corporate
governance or financial reporting?
Executive
Summary
Management
Guidelines
The Framework
The 34
high-level control objectives
What to do
with the 318 specific control objectives
COBIT Cube
Maturity
Models
Critical
Success Factors (CSFs)
Key Goal
Indicators (KGIs)
Key
Performance Indicators (KPIs)
How to use
COBIT for compliance
PART C:
SARBANES OXLEY
The
Sarbanes Oxley Act
The Need US
federal legislation: Financial reporting or corporate
governance?
The
Sarbanes-Oxley Act of 2002: Key Sections
SEC, EDGAR,
PCAOB, SAG
The Act and
its interpretation by SEC and PCAOB
PCAOB
Auditing Standards: What we need to know
Management's
Testing
Management's
Documentation
Reports used
to Validate SOX Compliant IT Infrastructure
Documentation
Issues Sections
302, 404,
906: The three certifications
Sections 302,
404, 906: Examples and case studies
Management's
Responsibilities
Committees
and Teams
Project Team
– Section 404
Disclosure
Committee
Audit
Committee
Report to the
Board of Directors
Control
Deficiency
Deficiency in
Design
Deficiency in
Operation
Significant
Deficiency
Material
Weakness
Is it a
Deficiency, or a Material Weakness?
Reporting
Weaknesses and Deficiencies
Examples
Case Studies
Public
Disclosure Requirements
Real Time
Disclosures on a rapid and current basis?
Whistleblower
protection
Rulemaking
process
Companies
Affected
International
companies
Foreign
Private Issuers (FPIs)
American
Depository Receipts (ADRs)
Employees
Affected
Effective
Dates
PART D:
BASEL II / BASEL III
The Basel
Capital Accords
Realigning
the regulation with the economic realities of the global banking
markets
New capital
adequacy framework replaces the 1988 Accord
Improving
risk and asset management to avoid financial disasters
"Sufficient
assets" to offset risks
The technical
challenges for both banks and supervisors
How much
capital is necessary to serve as a sufficient buffer?
The
three-pillar regulatory structure
Purposes of
Basel
Pillar 1:
Minimum capital requirements
Credit Risk –
3 approaches
The
standardized approach to credit risk
Claims on
sovereigns
Claims on
banks
Claims on
corporates
The two
internal ratings-based (IRB) approaches to credit risk
Some
definitions:
PD - The
probability of default,
LGD - The
loss given default,
EAD -
Exposure at default,
M – Maturity
5 classes of
assets
Pillar 2:
Supervisory review Key principles
Aspects and
issues of the supervisory review process
Pillar 3:
Market discipline
Disclosure
requirements
Qualitative
and Quantitative disclosures
Guiding
principles
Employees
Affected
Effective
Dates
Operational
Risk
What is
operational risk
Legal risk
Information
Technology operational risk
Operational,
operations and operating risk
The evolving
importance of operational risk
Quantification of operational risk
Loss
categories and business lines
Operational
risk measurement methodologies
Identification of operational risk
Operational
Risk Approaches
Basic
Indicator Approach (BIA)
Standardized
Approach (SA)
Alternative
Standardized Approach (ASA)
Advanced
Measurement Approaches (AMA)
Internal
Measurement Approach (IMA)
Loss
Distribution (LD)
Standard
Normal Distribution
“Fat Tails”
in the normal distribution
Expected loss
(EL), Unexpected Loss (UL)
Value-at Risk
(VaR)
Calculating
Value-at Risk
Stress
Testing
Stress
testing and Basel (AMA)
Advantages /
Disadvantages
Operational
Risk Measurement Issues
The game
theory
The
prisoner’s dilemma – and the connection with operational risk
management
Operational
risk management
Operational
Risk Management Office
Key functions
of Operational Risk Management Office
Key functions
of Operational Risk Managers
Key functions
of Department Heads
Internal and
external audit
Operational
risk sound practices
Operational
risk mitigation
Insurance to mitigate operational risk
Basel II and
other regulations
Capital
Requirements Directive (CRD)
Markets in
Financial Instruments Directive (MiFID)
What is the
impact of MiFID to EU and non EU banks?
Aligning
Basel II operational risk and Sarbanes-Oxley 404 projects
Common
elements and differences of compliance projects
New standards
Disclosure
issues
Multinational
companies and compliance challenges
What is Basel
III?
The Basel III
papers
Was Basel II
responsible for the market crisis?
Introduction
to the Basel III Amendments
The Financial
Stability Board (FSB), the G20 and the Basel III framework
The New Basel
III Principles for risk management and corporate governance
The key areas
where the Basel Committee believes the greatest focus is
necessary
1. Board
practices
2. Senior
management
3. Risk
management and internal controls
4.
Compensation
5. Complex or
opaque corporate structures
6. Disclosure
and transparency
Sound
Practices for the Management and Supervision of Operational Risk
The 9
principles
PART E:
DESIGNING AND IMPLEMENTING A RISK AND COMPLIANCE PROGRAM
Designing
an Implementing an enterprise wide Risk and Compliance Program
Designing an
Internal Compliance System
Compliance
programs that withstand scrutiny
How to
optimize organizational structure for compliance
Documentation
Testing
Training
Ongoing
compliance with laws and regulations
Compliance
Monitoring
The company
and other stakeholders
Managing the
regulators and change in regulations
International
and national regulatory requirements
Regulatory
compliance in Europe
Regulatory
compliance in the USA
What is
different
The GCC
countries
The Caribbean
The Pacific
Rim
Common
elements and differences of compliance projects
New standards
Disclosure
issues
Multinational
companies and compliance challenges
Second Certified Course
Certified Information Systems Risk and Compliance Professional
(CISRCP)
This course has been
designed
to provide IT and Information Security professionals with the
knowledge and skills needed to understand and support regulatory
compliance and enterprise wide risk management, and to promote
best practices and international standards that align with
business and regulatory requirements.
The course provides with the skills needed to pass the
Certified Information Systems Risk and
Compliance Professional (CISRCP) exam.
This course is
intended for
IT and Information Security
professionals that want to understand risk and compliance
and to work as risk and compliance officers, or IT managers and
directors (and need to understand compliance and business risk
management).
They will prove that they are qualified, when they pass the
Certified Information Systems Risk and Compliance Professional
(CISRCP) exam.
This course is
intended for employers demanding qualified IT and
Information Security risk and compliance professionals.
This course is recommended for
senior managers with IT and Information Security background
involved in risk and compliance.
PART A: COMPLIANCE WITH LAWS AND
REGULATIONS, AND RISK MANAGEMENT
Introduction
Regulatory Compliance and Risk Management
Definitions, roles and responsibilities
The role of the board of directors, the supervisors, the
internal and external auditors
The new international landscape and the interaction among laws,
regulations, standards
The difference between a best practice and a regulatory
obligation
Benefits of an enterprise wide compliance program
Compliance culture: Why it is important, and how to communicate
the obligations
Policies, Workplace Ethics, Risk and Compliance
Policies, procedures and the ethical code of conduct
Privacy and information security
Handling confidential information
Conflicts of interest
Use of organizational property
Fair dealings with customers, vendors and competitors
Reporting ethical concerns
The definition of Governance, Risk and Compliance
The need for Internal Controls
Understand how to identify, mitigate and control risks
effectively
Approaches to risk assessment
Qualitative, quantitative
Integrating risk management into corporate governance and
compliance
IT, Information Security, business risk and compliance
PART B: THE FRAMEWORKS
Internal Controls
COSO, The Internal Control — Integrated Framework by the
COSO committee
Using the COSO framework effectively
The Control Environment
Risk Assessment
Control Activities
Information and Communication
Monitoring
Effectiveness and Efficiency of Operations
Reliability of Financial Reporting
Compliance with applicable laws and regulations
IT Controls
Program Change
Deterrent, Preventive, Detective, Corrective Controls
Recovery, Compensating, Monitoring and Disclosure Controls
Layers of overlapping controls
COSO Enterprise Risk Management (ERM) Framework
Is COSO ERM needed for compliance?
COSO and COSO ERM
Internal Environment
Objective Setting
Event Identification
Risk Assessment
Risk Response
Control Activities
Information and Communication
Monitoring
The two cubes
Objectives: Strategic, Operations, Reporting, Compliance
ERM – Application Techniques
Core team preparedness
Implementation plan
Likelihood Risk Ranking
Impact Risk Ranking
COBIT - the framework that focuses on IT
Is COBIT needed for compliance?
COSO or COBIT?
Corporate governance or financial reporting?
Executive Summary
Management Guidelines
The Framework
The 34 high-level control objectives
What to do with the 318 specific control objectives
COBIT Cube
Maturity Models
Critical Success Factors (CSFs)
Key Goal Indicators (KGIs)
Key Performance Indicators (KPIs)
How to use COBIT for compliance
The alignment of frameworks
COSO and COBIT
COSO ERM and COBIT
ITIL and COBIT
ISO/IEC 17799:2000 and COBIT
ISO/IEC 15408 and COBIT
Software and Spreadsheets
Is software necessary for risk and compliance?
Is software
needed?
When and why
How large is your organization?
Is it geographically dispersed?
How many processes will you document?
Are there enough persons for that?
Selection process
Spreadsheets
It is just a spreadsheet…
Certain spreadsheets must be considered applications
Development Lifecycle Controls
Access Control (Create, Read, Update, Delete)
Integrity Controls
Change Control
Version Control
Documentation Controls
Continuity Controls
Segregation of Duties Controls
Spreadsheets – Errors
Spreadsheets and material weaknesses
Third-party service providers and vendors
Redefining outsourcing
Key risks of outsourcing
What is needed from vendors and service providers
SAS 70
Type I, II reports
Advantages of SAS 70 Type II
Disadvantages of SAS 70 Type II
PART C: SARBANES OXLEY
The Sarbanes Oxley Act
The Need
US federal legislation: Financial reporting or corporate
governance?
The Sarbanes-Oxley Act of 2002: Key Sections
SEC, EDGAR, PCAOB, SAG
The Act and its interpretation by SEC and PCAOB
PCAOB Auditing Standards: What we need to know
Management's Testing
Management's Documentation
Reports used to Validate SOX Compliant IT Infrastructure
Documentation Issues
Sections 302, 404, 906: The three certifications
Sections 302, 404, 906: Examples and case studies
Management's Responsibilities
Committees and Teams
Project Team
Steering Committee
Disclosure Committee
Certifying Officers
Audit Committee
Report to the Board of Directors
Control Deficiency
Deficiency in Design
Deficiency in Operation
Significant Deficiency
Material Weakness
Is it a Deficiency, or a Material Weakness?
Reporting Weaknesses and Deficiencies
Examples
Case Studies
Public Disclosure Requirements
Real Time Disclosures on a rapid and current basis?
Whistleblower protection
Rulemaking process
Companies Affected
International companies
Foreign Private Issuers (FPIs)
American Depository Receipts (ADRs)
Employees Affected
Effective Dates
IT and Information Security Control Objectives and Control
Framework
PART D: BASEL II
The Basel Capital Accords
Realigning the regulation with the economic realities of the
global banking markets
New capital adequacy framework replaces the 1988 Accord
Improving risk and asset management to avoid financial disasters
"Sufficient assets" to offset risks
The technical challenges for both banks and supervisors
How much capital is necessary to serve as a sufficient buffer?
The three-pillar regulatory structure
Purposes of Basel
Pillar 1: Minimum capital requirements
Credit Risk – 3 approaches
The standardized approach to credit risk
Claims on sovereigns
Claims on banks
Claims on corporates
The two internal ratings-based (IRB) approaches to credit risk
Some definitions:
PD - The probability of default,
LGD - The loss given default,
EAD - Exposure at default,
M – Maturity
5 classes of assets
Pillar 2: Supervisory review
Key principles
Aspects and issues of the supervisory review process
Pillar 3: Market discipline
Disclosure requirements
Qualitative and Quantitative disclosures
Guiding principles
Employees Affected
Effective Dates
Operational Risk
What is operational risk
Legal risk
Information Technology operational risk
Operational, operations and operating risk
The evolving importance of operational risk
Quantification of operational risk
Loss categories and business lines
Operational risk measurement methodologies
Identification of operational risk
Operational Risk Approaches
Basic Indicator Approach (BIA)
Standardized Approach (SA)
Alternative Standardized Approach (ASA)
Advanced Measurement Approaches (AMA)
Internal Measurement Approach (IMA)
Loss Distribution (LD)
Standard Normal Distribution
“Fat Tails” in the normal distribution
Expected loss (EL), Unexpected Loss (UL)
Value-at Risk (VaR)
Calculating Value-at Risk
Stress Testing
Stress testing and Basel
(AMA) Advantages / Disadvantages
Operational Risk Measurement Issues
The game theory
The prisoner’s dilemma – and the connection with operational
risk management
Operational risk management
Operational Risk Management Office
Key functions of Operational Risk Management Office
Key functions of Operational Risk Managers
Key functions of Department Heads
Internal and external audit
Operational risk sound practices
Operational risk mitigation
Insurance to mitigate operational risk
IT and Information Security in the Basel framework and projects
Basel II and other regulations
Capital Requirements Directive (CRD)
Markets in Financial Instruments Directive (MiFID)
What is the impact of MiFID to EU and non EU banks?
Aligning Basel II operational risk and Sarbanes-Oxley 404
projects
Common elements and differences of compliance projects
New standards
Disclosure issues
Multinational companies and compliance challenges
PART E: DESIGNING AND IMPLEMENTING A RISK AND COMPLIANCE PROGRAM
Designing an Implementing an enterprise wide Risk and Compliance
Program
Designing an Internal Compliance System
Compliance programs that withstand scrutiny
How to optimize organizational structure for compliance
Documentation
Testing
Training
Ongoing compliance with laws and regulations
Compliance Monitoring
The company and other stakeholders
Managing change in regulations
International and national regulatory requirements
Regulatory compliance in Europe
Regulatory compliance in the USA
What is different
The GCC countries
The Caribbean
The Pacific Rim
Common elements and differences of compliance projects
New standards
Disclosure issues
Multinational companies and compliance challenges
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