Compliance risk and internal control management serve as the backbone of an organization's ability to navigate the complex regulatory landscape and mitigate potential risks. Effective management of these aspects not only strengthens the organization's operations but also safeguards its reputation and ensures regulatory compliance. In 2020, the U.S. Securities and Exchange Commission (SEC) alone imposed non-compliance fines of over $4.6 billion, highlighting the significant financial consequences that organizations can face due to non-compliance with regulatory rules. These figures emphasize the need for robust internal control and compliance risk management systems.
The Certified Compliance Risk and Internal Control Manager (CCR™) program is designed to help you become an expert in the essential aspects of compliance risk and internal control management. By integrating theoretical knowledge with real-world case studies, this comprehensive course will provide you with the advanced skills and understanding required to confidently navigate the ever-evolving world of compliance, risk management, and internal control. You will learn a wide range of critical topics, including latest regulatory frameworks, risk assessment methodologies, internal control design, corporate governance, and incident management, offering a holistic understanding of the intricacies of managing compliance risks.
During the program, you will also learn to identify and evaluate potential compliance risks, design and implement effective internal controls, monitor and manage regulatory compliance, and develop strategies for incident response and remediation. This program will also cover the latest technological advancements in compliance and internal control management, including the use of data analytics, automation, and artificial intelligence. Throughout the program, you will gain insights into the importance of fostering a strong compliance culture and maintaining open communication with key stakeholders.
Upon completing the program and passing the Chartered exam, you will attain the coveted Certified Compliance Risk and Internal Control Manager (CCR™) designation. This globally demanded credential is a testament to your ability to implement robust internal controls, navigate the ever-changing financial landscape, and adapt quickly to emerging risks and regulatory requirements. Additionally, this CCR™ designation will underscore your commitment to upholding the highest ethical standards and compliance best practices, providing you with a competitive edge in the market and solidifying your position as a trusted expert in the field of compliance and internal controls.
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Failing to comply with laws, regulations, and internal policies is becoming more expensive for organizations worldwide, with non-compliance costs increasing by a substantial 45% in just two years. The situation is further exacerbated by economic crimes that have plagued a staggering 83% of organizations, with almost half of these crimes committed by internal actors, according to PwC. A solid compliance risk framework can be the saving grace by setting clear policies, assessing risks, and implementing effective controls to prevent non-compliance, avoid hefty fines and legal fees, safeguard reputation, and ensure long-term sustainability.
The Certified Compliance Risk and Internal Controls Program (CCR™) program will empower you with the ultimate solution to build and maintain a strong compliance culture within your organization. Through this program, you will be equipped with the latest and most effective strategies, such as the cutting-edge Compliance Risk Assessment Matrix (CRAM), to conduct a thorough compliance risk assessment. You will also learn how to interpret critical KPIs and KRIs used in compliance risk assessments, ensuring that your organization remains fully compliant at all times.
In addition, you will gain valuable insights into the importance of collaboration between business lines and compliance, and the need for a clear compliance mission statement. You will also develop a deep understanding of how to identify employee behaviors that may indicate compliance risk and effectively escalate compliance risk issues.
This program will also enhance your communication skills between compliance, risk management, and firm management, and provide you with the expertise to identify cybersecurity risks that may indicate potential fraud. By the end of the program, you will possess the necessary regulatory investigation and coordination skills to safeguard your organization from breaching legislation.
Upon completing the program and passing the Chartered exam, you will attain the coveted Certified Compliance Risk and Internal Control Manager (CCR™) designation. This highly respected and globally demanded credential is a testament to your ability to implement robust internal controls, navigate the ever-changing financial landscape, and adapt quickly to emerging risks and regulatory requirements. Additionally, this CCR™ designation will underscore your commitment to upholding the highest ethical standards and compliance best practices, providing you with a competitive edge in the market and solidifying your position as a trusted expert in the field of compliance and internal controls.
Globally demanded and recognized, this designation is an industry-recognized trademarked charter developed by the Chartered Institute of Professional Certifications and has lifelong validity. It is also fully accredited by CPD as adhering to the highest standards of Continuing Professional Development.
Prof. Mario DiFiore is a highly respected figure in the world of finance and business economics. As a Senior Assistant Dean, Director, and Professor at Fordham University's Gabelli School of Business, he has received numerous awards for his exceptional teaching and innovative techniques. Additionally, Mario's authority in the field of compliance is demonstrated by his role as Editor-in-Chief of the esteemed Journal of Financial Compliance.
With an impressive background, including his past experience as Co-Global Head of Compliance Training for Deutsche Bank AG's Commercial and Investment Bank and as a former senior staff member at the Federal Reserve, Mario possesses an unparalleled understanding of financial markets. He is an international consultant, sharing his expertise in financial markets, behavioural finance, compliance, and risk across Asia, Europe, North America, the Middle East, and Africa. Mario's groundbreaking research has led to the development of a framework to predict asset allocation decisions with personality traits and cognitive abilities.
11 hours 10 minutes
Overview - The Why of Compliance and Internal Controls
Setting the Compliance Stage: Emergence of the Compliance Function
Theranos Case Study
FTX and Alameda Case Study
Examples of Financial Crime and Compliance Fails
What Is Compliance?
Overview - Is The Compliance Environment Working?
Same Old, Same Old Or Compliance Innovation?
New Trends in Compliance Risk Management
3 Reasons Why Compliance Can Fail
Age Old Dilemma: Ethical Choice vs Self Interest and Profit
Preview on Compliance Methodologies
Overview - Traditional Approaches (COSO)
Introduction to Traditional Approaches
Internal Control Framework: COSO Cube
Overview - Traditional Approaches COSO and Enterprise Risk Management
Enterprise Risk Management: Risk Across the Spectrum
ERM Case Study: Great Recession and the Interconnectedness of Risk
Look Familiar: Mapping COSO Failure In the Great Recession
Overview - What's missing in the Traditional Approaches
How Traditional Internal Approaches Can Fail
Is There Something Missing?
Missing Number 1: Misapplied Rules in a FinTech World
Missing Number 2: Lack of Metrics
Missing Number 3: Fostering Appropriate Culture of Compliance
Overview - A Culture of Compliance
Compliance Culture Actually Means Something Substantial
Can You Quantify Compliance?
The Benefit of Compliance to Total Shareholder Return
Overview - Culture of Learning & Compliance
Quantifying Good/Poor Compliance
(Integrity) Tale of Two Banks
Barclays Bank Case Study (Part 1)
Barclays Bank Case Study (Part 2)
Mapping Barclays Resolution Plan to COSO Framework
Overview of Checkpoint Recap
The Case for Disciplined Internal Controls
Setting the Stage for Compliance Risk Management
Methodologies and Structures
Same Old, Same Old
Is something Missing
Overview - Building the Effective Compliance Function (Part 1)
Where Do Compliance Failures Leave Us?
Primer on Regulatory Frameworks
Rules Based Compliance vs Principles Based Compliance
Overview - Building the Effective Compliance Function (Part 2)
Why Regulate Financial Services
What Is Compliance: 3 Perspectives
Overview - Underlying Assumptions of the BIS Principles
Bank for International Settlements and 11 Principles of Effective Compliance Functions
BIS Compliance Definition
Underlying Assumptions of the BIS Principles
Overview - Application of BIS principles in Case Study
Salomon Brothers and the Treasury Crisis Case Study
Investigating and Resolving the Scandal
Overview - Eleven Principles & Best Practices
BIS Principles 1-6
BIS Principles 7 to 11
Overview - The Makings of an Effective Compliance Programme
Crazy Quilt Theory
Sample Compliance Function Organization Template
From MIssion to Operating Plan
Compliance Risk Assessment Matrix (CRAM)
Connecting the Component Parts
Overview - A Compliance Rubric: Applying A Hypothetical Compliance Function Model
Rubric Functions Part 1
Rubric Functions Part 2
Rubric Functions Part 3
Rubric Functions Part 4
Overview - Reporting and Escalation
Challenger Space Shuttle Case Study, Lessons Learned & A Reporting and Metrics Exercise
Overview - Effective Compliance Communications
Need for Communications Strategy & Developing an Effective Communications Strategy
Developing an Effective Communications Strategy
Overview - Compliance Data and Risk Metrics
Perspective & Content: The Data & Metrics Decision
Metrics Launching Pad
Special Metrics and Data Considerations, Stress Testing & Interconnectedness of Risk
Overview - Anti-Money Laundering and Anti-Financial Crime
AML & AFC
FATF and International Standards
AML Case Study
Overview - Cyber Security Compliance
Cyber Crime New Trends, Strategies, Guidelines & GCC region Framework Application
At the end of the program, there will be a Chartered exam comprised of 50 multiple choice questions. Upon passing the exam, you will be accredited with Certified Compliance Risk and Internal Control Manager (CCR™) designation.
If you have challenges passing the exam, you can secure assistance from our team and faculty leader to help you pass the exam.
Upon completion of the program and successfully passing the Chartered exam, you will earn the coveted Certified Compliance Risk and Internal Control Manager (CCR™) designation, a global trademark that carries lifelong validity and is widely recognized across industries. This distinguished credential will establish you as an expert in the field of compliance, equipped with a comprehensive understanding of building and managing robust compliance risk and internal controls framework. As a result, you will be positioned to enhance your professional credibility and marketability to potential employers or clients.
Developed by the prestigious Chartered Institute of Professional Certifications, the CCR™ designation is a highly regarded industry-recognized trademark that signifies excellence in the area of compliance. In addition, the program content has been independently accredited and certified by CPD, ensuring that it conforms to the highest standards of continuing professional development.
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