Compliance In Action: How To Set-Up An Effective Compliance Programme
Dates: 27 August 2018 (8.30am - 5.00pm)
Venue: Securities Commission Malaysia
Accreditation: 10 CPE
Running a compliance department today means dealing with changing regulatory requirements, greater scrutiny from regulators, increasing mobile workforce and shrinking budgets.
The lack of training is often cited as reasons behind compliance failings. Globally, financial institutions are estimated to have paid over USD320 billion in regulatory penalties since the global financial crisis from market manipulation and money laundering to conduct failures.
In many organisations much of compliance workflows are still managed manually. This becomes difficult in multiple branch operations across multiple lines of businesses. As a result, the cost of compliance increases, compliance reporting timelines are missed, exam and audit exceptions occur and liability risk escalates.
An effective compliance programme using a risk-based approach coupled with the right leadership tone will provide the necessary customer protection, build an ethical organisational culture as well as maintain robust internal controls. These in turns will promote a sound market reputation and strengthen the business competitive advantage.
This programme is designed for participants seeking to be updated on global compliance developments and wish to develop or review the compliance programme in their organisations.
Upon completion of this programme, participants will be able to:
- monitor emerging issues affecting the compliance industry;
- assist in the development of a compliance programme for your organisation;
- support compliance activities to mitigate the risk of compliance breaches; and
- review and propose actions when there are compliance breaches.
Interactive presentation, Discussions on Case Studies and Question-and-Answer (Q&A) sessions
Compliance officers, risk management officers, investment advisors, lawyers, and accountants
Stockbroking firms, fund management companies, unit trust management companies (UTMCs), investment and commercial banks, insurance companies and PLCs
||Functional/Process Skills – Compliance
Foundational (Regulatory Knowledge) - Capital Market Institutions
Foundational (Regulatory Knowledge) - Capital Market Intermediaries
Foundational (Regulatory Knowledge) - Anti-Money Laundering
Future of Compliance
- Cybersecurity Challenges
- Key focus areas with high potential for risk and violation
- Leveraging on IT systems and risk sensing analytics
- Challenge of new technologies and business apps
- How and why some companies miss significant risk exposures?
- Whistleblowing Programmes – Part of Compliance DNA
- Whistleblowing and compliance
- Rules to govern whistleblowing
- Case studies
Speaker: Angelina Kwan, Managing Director and Head of Regulatory Compliance for Hong Kong Exchanges and Clearing Limited
Development of an Effective Compliance Programmes
- Key Elements
- High level direct reporting authority (e.g.to Audit Committee)
- Clear policies and procedures, code of conduct and disciplinary guidelines
- Customised training programmes – Compliance expectations, due diligence protocols and ethics
- Internal compliance monitoring, reporting and communication framework
- Internal control standards reviews and recommendation procedure
- Periodic risk assessments, reporting and recommendation procedure
- Prioritising the Activities
- Identifying high risk areas
- Planning and performing required risk assessments
- Example - Assessing business impact of non-compliance
- Regulatory Alerts and Updates
- Linking compliance to organisational work flows
- Flagging key action items and accountability
- Example – Communicating new expectations of regulator
- Aligning Regulations with Policies and Business Processes
- Integrating regulatory requirements with policies
- Consolidating policies for multiple regulations
- Challenge of designing compliant workflows
- Example - RegTech in compliance
Speaker: Maheswari Kanniah, Group Chief Regulatory and Compliance Officer, Kenanga Investment Bank Berhad
Case Studies: Tone at the Top and Organisational Culture
This session focuses on the internal challenges facing compliance officers ranging from commitment from the BOD and senior management attitude towards the way things are reported to the BOD. Typically these could include marketing, client disclosures and conflict of interest issues.
- Classic compliance failures
- Important lessons for compliance officers
Moderator: Natalie Sylvia Chow Mong Yean, SC Malaysia
Speakers: Angelina Kwan, Maheswari Kanniah
Future of Compliance: Thoughts and Deliberations on How to Anticipate and Mitigate Compliance and Ethics Risks
- Tone at the top and commitment to compliance and ethics
- Improprieties, allegations, complaints - What gets reported and what gets escalated?
- Reliance on internal controls
- Enter the ethics officer
- Conduct risk - sales practices, investor protection and market reputation
- Q & A with participants
Moderator: Natalie Sylvia Chow Mong Yean
Panel: Angelina Kwan, Maheswari Kanniah
End of Programme
SPEAKER: ANGELINA KWAN
Ms Angelina Kwan is currently leading the efforts to establish an independent charitable foundation and most recently headed the Regulatory Compliance function for Hong Kong Exchanges and Clearing Limited. Ms Kwan has extensive experience in Asia Pacific and the United States, in business development, restructuring, regulatory/compliance, as well as investor and stakeholder relations. She started her career at KPMG and has held senior management, committee and/or board positions with the Securities and Futures Commission of Hong Kong, and other multinational companies and financial institutions.
She is currently a Hong Kong Government appointed member of the Women’s Commission, the Council for Sustainable Development, the Administrative Appeals Board, and the Lord Wilson Heritage Trust, a Director and Chair of the Audit Committee of the Securities Industry Development Corporation of Malaysia, the Vice-Chair and Director of The Women’s Foundation, a Fellow and Member of the Regulatory Accountability Board, Hong Kong Institute of Certified Public Accountants, an Honorary Adjunct Professor of Finance for the Hong Kong Polytechnic University, and serves on a number of other Boards and Committees. She lectures frequently for various international government and regulatory organizations as well as course providers.
Ms Kwan is a Certified Public Accountant in the United States and Hong Kong and a graduate of the University of Southern California. Her MBA is from Pepperdine University and LLB from the Hong Kong University and Manchester Metropolitan University.
SPEAKER: MAHESWARI KANNIAH
Maheswari Kanniah is currently the Group Chief Regulatory and Compliance Officer of Kenanga Investment Bank Bhd. She reports to the Board of Directors and amongst others, plays an advisory role to the Board and Senior Management on all the regulatory, governance, ethics, fraud, risk and compliance related matters pertaining to the Kenanga Group. She also serves as the Chairman of the Group Tender and Procurement Committee and member of the Executive Committee and Talent Management Committees of the Kenanga Group.
Prior to joining Kenanga, Mahes also served at RHB Banking Group from mid-2002 to 2007 and Maybank from 1978 to 2002. All in all, she has been in the financial institution for the past 41 years.
Mahes was also the Chairman of the Compliance Committee of Malaysian Investment Banking Association (MIBA) and the Advisor for MIBA’s Compliance Newsletter from 2009 to 2014 March. She has also represented MIBA to give her views on various consultation papers and table discussions with the SC, Bursa and BNM and served on SC’s Steering Committee for the formation of the Alternate Dispute Resolution for the Capital Market and was a Member of the Licensing Examinations Review Committee of the Securities Industry Corporation from 2012-2014. Mahes also served as a Member of the Finance Accreditation Agency Moderation Committee for the discipline of Corporate Governance. On the community front, she is a Member of the Women and Sports Committee of the Olympic Council of Malaysia.
She was instrumental in Kenanga’s corporate partnership with the Association of Certified Fraud Examiners (ACFE), being the first company in Malaysia and Asia to partner with the ACFE.
She is a Fellow Member of the Chartered Institute of Secretaries, UK (FCIS) and the Malaysian Association of the Institute of the Chartered Secretaries and Administrators. She is also a Certified Fraud Examiner (CFE) registered with the ACFE, US.
SPEAKER: NATALIE SYLVIA CHOW MONG YEAN
Currently, Assistant General Manager with the Intermediary and Fund Supervision Business Group of Securities Commission, one of the unit head of Supervision Department, responsible for the supervision of Investment Banks and Fund Management companies.
Natalie has 22 years of working experience. Previously an Associate Director with PricewaterhouseCoopers, where she was with the Business Advisory Services for 15 years with vast consultancy experience on management, operations and finances of large scale, complex businesses from different industries such as hotels, manufacturing, pharmaceutical, property development and retail.
She has also worked in London for 4 years where she was involved in the project development of Green Homes as well as healthcare industry where she was responsible for the business development, operating policies and risk management whilst with Whipps Cross Hospital, NHS London.
Natalie graduated with Bachelor of Science degree from University Sains Malaysia and has an MBA from Portsmouth University, United Kingdom.