As institutions seek to create value, they are faced with significant risks. These risks if not well managed, can adversely impact effective service delivery, continued profitability, and corporate sustainability. In the Nigerian Financial Services industry, inability to effectively manage these risks in a holistic and proactive manner rather than in silos, has resulted in the liquidation of some institutions. Therefore, this course seeks to enable participants develop a process to continuously identify a risk and risk-event universe; create a risk profile that includes a defined risk tolerance, quantification and prioritization of risk events and identification of current controls; establish risk responses that include accepting, sharing reducing or avoiding risks and implementing controls and procedures; and monitor/report process that includes creation of key risk indicators (KRIs).
The cases of fraud experienced by business in recent times, increasingly placed organisations and their reputations at risk. Fraudsters continue to operate with more sophistication, which enable them to circumvent control procedures. Organisations must therefore, continuously evaluate and update their fraud preventive measures. This course seeks to inform executives on the intricacies of fraud, its identification and how to mitigate the risk of crystalizing.
In recent times, the world has experienced a phenomenal growth of financial services and activities. This growth has led to increased cross border activities, with enhanced global financial intermediation. Unfortunately, this development has been accompanied by a spate of transnationally-organized crimes, including Money Laundering and Terrorist Financing (ML/TF). Given the potential negative impact of AML/CFT infractions on the socioeconomic development of any economy, financial institutions are known to have significant roles to play in complying with these regulations and in developing appropriate mechanisms to tackle this menace, minimise negative impact, and restore confidence in the system. Also, best practice requires that financial institutions undergo periodic self-assessments of their compliance status to the AML/CFT regulations, in line with statutory guidelines and requirements, to bridge identified gaps, address inherent challenges, and avert likely consequences and sanctions. In furtherance to this and ensure compliance to statutory guidelines, organizations must understand these statutory requirements and upscale their institutional capacities to effectively and efficiently monitor and manage likely impact of non-compliance for a strong viable financial system, unsusceptible to internal and external threats.
regulatory capital framework places increased emphasis on risk management and banks are required to employ suitable procedures and systems in order to ensure their capital adequacy. ICAAP is the formal process through which a bank identifies, measures, aggregates and monitors material risk, to ultimately build a risk profile that becomes the basis for allocating capital. The burden of this, is on the institutions to demonstrate that its ICAAP is comprehensive and adequate to the nature of risks posed by its business activities and its operating environment.
The creation of exotic service delivery channels, the extension of bank franchises across national boundaries, as well as new requirements for meeting international financial audit and reporting standards. These developments have made it imperative for Bank Inspectors and Internal Auditors to continually upgrade their skills. This course provides insights on traditional and emerging issues in audit and internal control.
In a dynamic business environment, the ability to accurately model and forecast volatile economic inputs, is a critical skill for business managers. The application of new techniques support analysis of financial data, predict revenues/cost, and assess risks. These models justify business decisions in the most time-efficient and effective manner.