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Compliance Training for Financial Professionals in Samoa

A recent virtual training session conducted by ADFIAP, through its service unit ADFIAP Consulting, has equipped financial professionals from Federated States of Micronesia Development Bank, Development Bank of Samoa, and Esquire Financing Inc. with the skills to effectively manage risk, ensure good governance, and comply with regulatory requirements.

Fundamentals of Governance, Risk Management, and Compliance (GRC)

The four-day training program on Fundamentals of Governance, Risk Management, and Compliance was held from February 13-16, 2024, and aimed to enable participants to recommend operational enhancements aligned with good practices on GRC in their respective institutions. The training covered a range of topics, including:

  • Corporate governance framework and roadmap
  • Corporate governance requirements for financial institutions
  • Understanding risk and sources of uncertainties
  • Credit risk management strategy
  • Sustainability reporting
  • Managing in a volatile, uncertain, complex, and ambiguous (VUCA) world

Importance of Good Governance, Risk Management, and Compliance

According to experts, good governance, risk management, and compliance are key pillars of effective financial management. The banking community has increasingly recognized the importance of adopting these principles, which can add significant value and provide competitive advantage when applied holistically within an organization.

Interactive Training Sessions

The training program featured interactive sessions, including:

  • Sharing of experiences and practices among participants
  • Case studies presented by resource speakers

Participants expressed their appreciation for the new knowledge gained during the course of the training.

Consulting Services Available

For organizations seeking similar training and consulting services, ADFIAP is available to assist through its service unit ADFIAP Consulting. For inquiries, please email email@protected.