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Compliance Training for Financial Institutions in Chile

In an effort to strengthen corporate governance and risk management practices, financial institutions in Chile are increasingly recognizing the importance of compliance training. A recent report by GLOMACS, a leading provider of professional training solutions, highlights the need for effective compliance training programs that align with international best practices.

What is Corporate Governance?

The first day of the training course delves into the definition and concept of corporate governance, its guiding principles, and added value. Participants will also learn about the obstacles that prevent full implementation of corporate governance, as well as the external and internal parties involved in the governance process.

Topics Covered

  • Definition and concept of corporate governance
  • Guiding principles and added value
  • Obstacles to full implementation of corporate governance
  • External and internal parties involved in governance process

Risk Management, Compliance, and Internal Audit

Day two explores the risks associated with poor governance boards and strategic planning, highlighting the importance of cooperation among risk management, compliance, and internal audit functions. The training course also covers the fundamental differences between risk-based internal auditing and traditional system-ased approaches, as well as the implications for audit and governance arrangements.

Topics Covered

  • Risks associated with poor governance boards and strategic planning
  • Cooperation among risk management, compliance, and internal audit functions
  • Fundamental differences between risk-based internal auditing and traditional system-based approaches
  • Implications for audit and governance arrangements

Risk-Based Compliance

On day three, participants will learn about the definition, responsibilities, and goals of compliance, as well as the right profile of a chief compliance officer. The training course also covers money laundering threats, terrorist financing methods, fraud risk factors, and behavioral red flags of perpetrators.

Topics Covered

  • Definition, responsibilities, and goals of compliance
  • Right profile of a chief compliance officer
  • Money laundering threats
  • Terrorist financing methods
  • Fraud risk factors
  • Behavioral red flags of perpetrators

Risk Management: Risk Catalog and Risk Taxonomies

Day four focuses on enterprise risk management, including the universe, framework, and fundamental concepts of risk management. Participants will learn about risk control self-assessment, key risk indicators, and key performance indicators (KPI), as well as identifying credit risks, financial risks, operational risks, reputational risks, legal risks, non-compliance risks, political risks, sovereign risks, country risks, ethical risks, fraudulent risks, and criminal risks.

Topics Covered

  • Enterprise risk management universe, framework, and fundamental concepts
  • Risk control self-assessment
  • Key risk indicators and key performance indicators (KPI)
  • Identifying credit risks, financial risks, operational risks, reputational risks, legal risks, non-compliance risks, political risks, sovereign risks, country risks, ethical risks, fraudulent risks, and criminal risks

Identifying Risks and How to Mitigate It?

The final day of the training course covers risk taxonomies and organizational classification of risks, as well as board roles in crisis management and beyond. Participants will learn about the importance of effective risk assessment, mitigation strategies, and crisis planning.

Topics Covered

  • Risk taxonomies and organizational classification of risks
  • Board roles in crisis management and beyond
  • Effective risk assessment
  • Mitigation strategies
  • Crisis planning

Endorsed Education Provider

GLOMACS is a registered provider of continuing professional education on the National Registry of CPE Sponsors, ensuring that participants can earn credits towards their professional certification.

In Association With

The training course is in collaboration with Oxford Management Centre, providing a unique blend of theoretical knowledge and practical experience.