The Compliance Managers' Course

The Compliance Managers’ Course is an intensive three day course designed to provide Compliance Managers with the confidence and expertise to efficiently manage their compliance program. This course is held at multiple locations across Australia. When provided as a 1-on-1 course, the material is covered over one and a half days and the pace is based upon the participant’s needs. Examples used during the course can be applicable to the Licensee.

 

The contents of the course include:

 

Compliance Program
This module reviews the elements and the requirements of a Compliance Program under the Australian Standards. There is an assignment, commencing with this module, that students need to submit at the end of the course. The assignment is based on real-life requirements and involves the compilation of a Compliance Program for a financial services practice (life, general or securities based).

 

Licensee Responsibilities
This module reviews both the general and specific responsibilities of a financial services Licensee under the Corporations Act including Organisational Expertise, Financial Requirements, Training, AML, Conflicts of Interest, Complaints and Risk Management.

 

Risk Management Plan
This module addresses the requirements under the AS/NZ Standards with regard to the development and implementation of a Risk Management Plan for a financial services Licensee. It addresses establishing the context, identification of risk, appropriate treatments and/or controls, communication and review of risk issues.

 

Audit and Surveillance Program
This module focuses on the development and implementation of an Audit Program. Various auditing tools are assessed including use of operational checklists, comprehensive file audits, random checks on advice and internal cross-checking. How to assess and use the information identified from audit or surveillance activities to improve systems or address training issues are also covered in this module.

 

Operational Standards
This module addresses documentation of operational procedures and standards.

 

Compliance and Advice Providers
This module specifically addresses the obligations and responsibilities of advice providers under the Corporations Act and Common Law. It has an emphasis on ethics and professional standards.

 

Complaints and Disputes
This module reviews the Australian Standards for Internal Complaints Handling. It includes the development of a policy and appropriate procedure for Internal Complaints Handling. Membership in External Bodies is also reviewed; the Insurance Brokers Dispute Facility and the Financial Ombudsman Service are reviewed in detail with regard to their operational standards for members. 

 

Training Programs
This module reviews Licensee obligations to ensure Representatives are appropriately skilled to complete their function. It includes the identification of training needs and development of training plans.