Introduction To Compliance Risk Assessment

Learn Fundamentals of Compliance and Gain Practical Insight into How Compliance Risk Assessment (CRA) is Performed

What you'll learn
Learn about Compliance, and Compliance Risks, with examples
Learn about Regulators, different Laws, Regulations and Standards issued by Regulators
Learn about Risks, and Compliance Risks
Learn about Inherent Risk Assessment, Residual Risk Assessment, Risk Scores, Ranges, Impacts and Likelihood
Learn about Compliance Risks Identification Process
Learn about the methodology of performing Compliance Risk Assessment
Learn hoe Compliance Risk Assessment are performed by organizations using the Compliance Risk Assessment Template
Case Studies to actually perform the Compliance Risk Assessment
Requirements
No specific previous knowledge is required. Anyone who wants to learn about the Compliance, Risks and Compliance Risk Assessment can join this course.
Description
Due to increase in competition, diversified customers' needs, digitalization, and a significant increase in the number of criminal activities, such as Financial Crimes, Money Laundering, Cyber Attacks, Data Losses, etc., Regulators all around the world are focussing on establishing different specialized frameworks in the form of Laws, Rules, Regulations, and Standards.Financial crime is one of the biggest threats to all organizations and institutions because the criminals exploit them through different means and utilize their illegal money or illegal funds, to purchase goods or services from different organizations. Financial crime or criminal activities cause reputational losses and financial losses. To avoid reputational losses, financial losses, and operational losses, organizations, and institutions are required to adopt the laws, and Regulations that are prescribed by the regulatory authorities.  Today It is a big challenge not only for the Regulators but also for Organizations and Institutions, to control the complex work environment, competition, and increasing number and incidents of criminal activities. Regulators keep on trying, to ensure that all organizations adopt a transparent work environment and comply with applicable laws, rules, and regulations, which they issue from time to time. This course will give you a comprehensive overview of the Compliance Risk Assessment methodology and process, which organizations and institutions regularly perform, to identify the significant or high-level compliance risks, to which they are exposed.  You will learn how organizations, institutions, and companies practically perform the Compliance Risk Assessment and identify the Risks, Threats, and Vulnerabilities and how they treat those risks.Your learning journey will provide you with knowledge and understanding of a number of important concepts, including: What is Compliance, Compliance Culture, Compliance Risk, and related conceptsHow Does Compliance Risk differ from Other Risks?What are different Sources of Compliance Risks with ExamplesWhat are the Consequences of Non-CompliancesWhat is Compliance Risk Assessment and Key Steps Involved in performing itExtraction of different Compliance Risks What is the Compliance Risk Assessment Template and How It Is FilledHow to draft the "Compliance Risk Statements" in the CRA TemplateWhat are Inherent and Residual Risk Assessments and How are they PerformedMapping of Controls against Risks in Risk Assessment templateHow identified Compliance Risks are Analysed and Assessed to assign Risk ScoresCase Studies: Practical understanding of how organizations and institutions perform Compliance Risk AssessmentMultiple Choice Questions - MCQs are also made part of this course for you, to check test knowledge of key concepts that you will gain through attending this course.You will also find a great deal of additional sources as part of this course, such as:Downloadable Material and Slides, Downloadable Prototype of CRA Template Slide, Lifetime access to the course Certificate of completion of course etc.There is no pre-requisite for this course and this course can be completed within2 hours.Who Is This Course For?Compliance Professionals, including Chief Compliance Officer, Compliance Analysts, AML Analysts, MLROs, DMLROs, etcRisk Management Professionals, including Risk Analysts and ReviewersCompliance or Risk Management ConsultantsInternal Auditors and Internal Controls AnalystsCyber Security Risk AnalystsACAMS or other Compliance StudentsAnyone who wants to learn about Compliance, Risks, and Compliance Risk Assessment should join this course. Thank youHappy learning.

Overview

Section 1: Introduction

Lecture 1 Introduction

Lecture 2 Core Concepts and Topics of Compliance Risk Assessment Covered in this Course

Lecture 3 Importance of Compliance Risk Assessment

Section 2: Introduction to Compliance

Lecture 4 What Is Compliance

Lecture 5 Compliance Requirements for a Company or Organization

Lecture 6 Who Issues Laws, and Regulations for Compliance

Lecture 7 Examples of Important Laws, Regulations and Standards for Compliance

Section 3: Risk and Types of Risks

Lecture 8 What Is a Risk?

Lecture 9 Different Types of Key Risks Which Organizations are Exposed To

Lecture 10 What is Compliance Risk?

Section 4: Compliance Risk Identification and Assessment

Lecture 11 Introduction to Compliance Risk Assessment Methodology

Lecture 12 6 Main Steps of Performing Compliance Risk Assessment

Section 5: Inherent Risks Assessment and Residual Risks Assessment

Lecture 13 What are Inherent Risks and Residual Risks - With Examples

Lecture 14 What are Risk Scores, Ranges and Impact and Likelihood

Lecture 15 Example 1: Assigning Inherent and Residual Risk Scores

Lecture 16 Example 2 Inherent and Residual Risk Scoring and Assessment - E Commerce Company

Lecture 17 Example 3 Inherent and Residual Risk Assessment Scoring of a New Vendor Company

Lecture 18 How To Use a Template to Perform Compliance Risk Assessment

Section 6: Compliance Risks Identification Process In Detail

Lecture 19 Compliance Risk Identification Process

Lecture 20 Analysis of Database of Compliance Risks or Incidents

Section 7: Case Studies - How To Perform Compliance Risk Assessment

Lecture 21 Overview of Risk Scores and Ranges That We Shall Use In Case Studies

Lecture 22 Case Study 1 - Background and Overview

Lecture 23 Case Study 1 - Performing Compliance Risk Assessment for Regulatory Requirements

Lecture 24 Case Study 1 Performing Compliance Risk Assessment - AML Transaction Monitoring

Section 8: Case Study 2 - Performing Compliance Risk Assessment - Cyber Security

Lecture 25 Case Study 2 - Background and Overview of Case

Lecture 26 Case Study 2 - Performing Compliance Risk Assessment - Cyber Security

Section 9: Multiple Choice Questions MCQs

Compliance Professionals, Compliance Heads, AML Head, AML Analysts, Compliance Analysts, Anti-Financial Crime Specialists and Compliance Students such as ACAMS,Risk Management Professionals, Risk Analysts, Compliance Risk Management Professionals, and Risk Management Students,Internal Auditors, Internal Controls Analysts and students,IT or Cybersecurity Professionals and Students,Money Laundering Reporting Officers (MLROs), Deputy Money Laundering Reporting officers (DMLROs),Departmental heads working in different departments or functions in an organizations or companies