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Compliance Training for Financial Institutions in Philippines: A Must-Have for Banking Success
The compliance function plays a crucial role in managing risk and maintaining a bank’s reputation in the Philippines. The risk of legal or regulatory sanctions, financial loss, or loss to reputation is a real threat for banks that fail to comply with applicable laws, regulations, codes of conduct, and standards of good practice.
Importance of Compliance Training
To mitigate this risk, the Bangko Sentral ng Pilipinas (BSP) has implemented guidelines and rules that require banks to adopt a compliance framework based on principles from the Basel Committee on Banking Supervision (BCBS) and industry best practices. This framework helps maintain a bank’s reputation with shareholders, customers, employees, and the market.
Benefits of Effective Compliance Function
A comprehensive training program is now available to assist financial institutions in designing, implementing, and operating an effective compliance function. The program combines self-paced modules with live webinars and provides participants with a deeper understanding of the purpose of the compliance function in managing compliance risk.
Training Program Highlights
- Interactive sessions to identify and mitigate risks that may erode the franchise value of their institution
- Case studies and video presentations on the role of the Chief Compliance Officer (CCO) and responsibilities of the Board of Directors and senior management in ensuring effective compliance risk management
- Cross-border compliance issues, outsourcing of compliance risk assessment and testing, overlap or similarity of functions, and selling compliance
- Access to a recorded presentation on the evolution of the CCO profile, importance of risk governance structure, and how to conduct an investigation
Registration Information
Don’t miss this opportunity to strengthen your institution’s compliance function and minimize risks. The training fee for member institutions is PHP 2,000 plus VAT, while non-member institutions will pay PHP 3,000 plus VAT. Register now and take the first step towards ensuring a strong and reputable financial institution.
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