Financial Crime Prevention Training Programs in South Africa
Boosting Risk Management Controls across the Financial Sector
South Africa’s financial sector is set to benefit from a new training program aimed at promoting risk management controls across all sectors and individual institutions. The course, offered by the University of the Witwatersrand, equips participants with the necessary skills and knowledge to design, implement, and maintain internal and external systems of control.
About the Training Program
The training program takes place from October 21-25 and is specifically designed for individuals in the banking, pensions, insurance, and capital markets sectors who are tasked with promoting risk and compliance awareness within their organizations. The course covers topics such as:
- Principles and concepts of risk management: Understand the fundamental principles and concepts of risk management.
- Current risk management thinking, standards, and regulations: Stay up-to-date on current risk management thinking, standards, and regulations across the world.
- Role of risk management in an organization: Learn how risk management contributes to the overall success of an organization.
Key Takeaways
Upon completion of the course, participants will be able to:
- Discuss the principles, concepts, and practice of risk and risk management
- Explain the multi-disciplinary nature of risk management within any type of organization
- Describe current risk management thinking, standards, and regulations across the world
- Classify and analyze the risk management process
- Critically discuss governance failures that have contributed to corporate failures and collapses
Course Modules
The training program consists of several modules, including:
- Overview of the regulatory environment in South Africa: Understand the regulatory framework governing the financial sector in South Africa.
- Role of the compliance function and the compliance officer: Learn about the importance of compliance functions and officers in organizations.
- Building an effective governance and compliance programme: Develop skills to build a robust governance and compliance program.
- Corporate governance: Understand the principles and practices of corporate governance.
- Risk management frameworks and standards: Learn about various risk management frameworks and standards.
- Governance and enterprise risk management (ERM): Understand how ERM contributes to an organization’s overall success.
Eligibility and Accreditation
Applicants for the course must have a Bachelor’s degree in law or commerce with law, as well as relevant legal work experience. The training program is accredited by the University of the Witwatersrand and leads to a postgraduate certificate.
With the increasing importance of risk management controls in the financial sector, this training program is expected to play a significant role in promoting a culture of risk awareness within organizations and ensuring compliance with regulatory requirements.