Internal Controls for Financial Institutions
Minimise operational risks and ensure compliance through appropriate processes and controls
Accredited by: LONDON INSTITUTE OF SKILLS DEVELOPMENT SIGNATURE PROGRAMME
Who should attend?
- Regulatory authorities in Banking, Insurance, Pensions and Capital Markets
- Executive and non-executive Board and committee members
- Company secretaries
- Shareholder representatives
- Senior managers and executives
- Corporate lawyers
- Marketing specialists
- Institutional investors
- Junior Managers, Fresh Graduates & Final Semester Students to acquire a promising career in a reputable organization.
| Course Code: | F/A.15 |
| Subject: | Finance |
| Course Fee: | £795 |
| Duration: | 4 Days |
| Venue: | London School of Economics UK |
Learning Objectives
By the end of the course delegates will be able to:
- Describe key risk management and internal control concepts
- Apply the main industry frameworks and standards which influence internal controls
- Assess the effectiveness of their organisations internal controls
- Demonstrate to and guide executives and management in the establishment of an appropriate control environment
- Understand the effective usage of internal controls
Course Content
Internal Controls in the Context of Today’s Corporate Governance
- What is Corporate Governance?
- Why is it different for financial institutions?
- Internal controls as a mechanism for controlling risks
- Board and senior management responsibilities for internal controls and the establishment of a control culture
- US Sarbanes Oxley Act 2002 and its requirements for monitoring and annual reporting on internal controls effectiveness
Main Components and Principles of Internal Controls
- The definition and purpose of internal controls
- The five components of the original COSO internal controls framework
- Integration of the original COSO control framework into COSO Enterprise Risk Management framework (ERM)
- Linking COBIT to COSO – Information technology framework and internal controls
Financial Sector Regulators and Internal Controls
- The three categories of objectives for internal controls
- COSO internal controls framework – the expanded 2013 revision
- The new seventeen principles – practical application to provide comprehensive controls
- The strong link between Basel II operational risk management and COSO
- Inherent limitations of internal controls
The Control Environment
- The vital first step – establishing the management tone at the top and an institution-wide code of conduct reflecting integrity and ethical values
- Board and management’s delegation of authority
- Commitment to competence – attracting, developing and retaining the right human resources
- Performance measures, incentives and rewards
Types of Internal Controls
- Risk appetite and strategy established by the Board and risk response strategies
- Control activities, internal controls, responsibilities and uses through the eyes of different stakeholders
- Inherent and residual risks
- Reporting and assurance
LISD Workshop Special GROUP Package Highlights:
(prices applicable to a group of minimum 8 persons)
*Maximum 15 persons will be enrolled in each workshop
- 4 Days + 3 Nights Programme
- Programme Registration with the invoice
- 2 Scientific Knowledge-sharing sessions
- Certificate of Participation signed by the authorities
- 3 Night-accommodation in B&B (Double accommodation)
- 2 Networking Dinners
- 3 Lunches
- 3 Networking Tea/Coffee
- Airport Group-Pick & Drop Service
- City Crawl
- Group Excursion- Famous Tourist Attractions
Generic Schedule:
4 Days/ 3 Nights Programme
Day 1:
Hotel Group Pick-up Service from the nearest Airport to the Bed & Breakfast (Hotel)
Check-in: (between 2:00-4:00 pm)
City Crawl includes Takeaway Lunch and Coffee
(1st Night)
Day 2:
Interactive Learning Sessions: 9:00 am – 4:00 pm
Includes 2 Tea Breaks + Lunch
7:30 pm Networking Dinner
(2nd Night)
Day 3:
Interactive Learning Session/ Award Ceremony: 9:00 am- 1:00pm
Includes 1 Tea + Lunch
Excursion: 2:00-7:00 pm
Networking Dinner: 7:30 pm
(3rd Night)
Day 4:
Hotel Check-out at 10:00 a.m
Luggage can be Deposited in the Hotel
Free to Shop and Roam (independently)
Back to the Hotel at least 3.5 hours before the flight
Group Drop-off to the Airport
Register Per Person
| Workshop Venue | Full 4 Days + 3 Nights Workshop Package PER PERSON IN GROUP inclusive all taxes |  |
Credit/Debit Card |
|---|---|---|---|
| University of Oxford, U.K | GBP 1350 | Register Now | Register Now |
| University of Cambridge, U.K | GBP 1350 | Register Now | Register Now |
| King’s College London, U.K (University of London) | GBP 1350 | Register Now | Register Now |
| University of Edinburgh, U.K | GBP 1350 | Register Now | Register Now |
| London Institute of SD – Learning Center | GBP 1145 | Register Now | Register Now |
| Baku, Azerbaijan | GBP | ||
| Istanbul, Turkey | GBP |