CMDP: Module 3 Risk Oversight and Compliance – Action Plan for Board of Directors

Capital Market Director Programme

21
Feb 2023

2:00 pm - 5:30 pm

Securities Commission Malaysia Building

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Speakers : Albert Tai

Registration closing date is 3 business days before the programme date or when all seats are fully taken.
5 CPE
CPD*

MYR 1800 *Fee is not inclusive of 8% SST

Capital Market Director Programme (CMDP):
M
odule 3 – Risk Oversight and Compliance – Action Plan for Board of Directors

Programme Overview

Licensed intermediary institutions play an important systemic role in the capital market ecosystem. The growth or decline of the capital market is influenced by, among others, the success and failure of these institutions. Hence, the quality of leadership at these institutions is paramount. Kiel et al., 2012 suggest four levels of competence required of a board. They are as follows:

Industry: Experience in and knowledge of the industry in which the organisation operates
Technical: Technical/professional skills and specialist knowledge to assist with ongoing aspects of the board’s role
Governance: The essential governance knowledge and understanding all directors should possess or develop if they are to be effective board members
Behavioural: The attributes and competencies enabling individual board members to use their knowledge and skills to function well as team members and to interact with key stakeholders

 

Programme Objectives

The Capital Market Director Programme (CMD) is an exclusive platform for directors and other strategic personalities of licensed intermediary institutions to equip themselves with new and relevant knowledge, skills and abilities (basic to intermediate level). The programme is also designed to allow them to explore and deliberate on pertinent issues affecting the industry from multi-stakeholders’ perspectives.

The specific objectives of the programme are as follows:

  • Equip members of the board with knowledge and skills to provide leadership and oversight in the running of licensed intermediary institutions;
  • Assist directors of licensed intermediary institutions in becoming an effective member of the board through the latest developments in regulations and challenges, business and governance in the capital market; and
  • Promote a thorough understanding of the role of the Securities Commission in regulating a dynamic and competitive capital market.

This programme will also “strengthen intermediation standards and capabilities” as espoused by the Capital Market Masterplan 2 (CMP2).

Securities Commission Malaysia (2011) Capital Market Masterplan 2. Securities Commission, Kuala Lumpur.

 

Learning Outcomes

Module 3: Risk Oversight and Compliance – Action Plan for Board of Directors

At the end of the module, participants will be able to:

  • Review a framework that identifies, assesses and manages key strategic and operational risks associated with the conduct of licensed intermediaries;
  • Explain the importance of risk oversight, ethical and compliance programmes and the consequences of failures in such programmes; and
  • Exercise judgement appropriately in dealing with issues of risk oversight and compliance brought to the attention of the board.

 

CPD*

*SIDC CPE points are recognised by FIMM, AICB and MIA

Learning Hours

3.5 hours

 

Competencies

  1. Core – Corporate Governance, Ethic & Integrity, Risk Management (Proficiency Level 4)
  2. Foundational (Regulatory) – Capital Market Institutions, Capital Market Intermediaries, Capital Market Products Regulations (Proficiency Level 4)
  3. Foundational (Product) – Capital Market Environment (Proficiency Level 4)
  4. Behavioural (Organisation Leadership) – Strategic Thinking (Proficiency Level 4)

Target Audience

Individual 

Newly appointed directors and directors of CMSL holders

OUTLINE MODULE 3 – RISK OVERSIGHT AND COMPLIANCE – ACTION PLAN FOR BOARD OF DIRECTORS

1.30 pm Registration
2.00 pm Role of the board of directors in building and sustaining an effective ethics and compliance framework that aims to meet the directors’ fiduciary duties

  • Identifying and understanding the requirements of the relevant regime;
  • Identifying and understanding the current state of systems and processes in the organisation; and
  • Undertaking detailed impact assessment and gap analysis so as to determine what needs to be done to comply with the requirements of the relevant regime.

The board’s role in managing conflicts of interest situations, including:

  • Connected/related party transaction;
  • Insider information;
  • Liquidity and risk management; and
  • Customer complaints and dispute resolution.
3.30 pm Coffee Break
3.45 pm What happens when there is compliance failure? How to prevent compliance failure?

  • Best practices in compliance for capital market intermediaries; including monitoring compliance as an important part of directors’ oversight responsibilities;
  • Board’s rights and obligations to demand the right information;
  • Relationship between compliance and internal audit function and the impact on board’s functions; and
  • Case studies of compliance functions and activities.
5.30 pm End of Programme

 

 

Albert Tai
Head of Compliance, Hong Leong Investment Bank

 

Albert is currently the Head of Compliance of Hong Leong Investment Bank.  Legally trained, he spent the first 10 years as a practicing lawyer and in-house legal counsel of 2 public listed companies before switching to Compliance in 2010. Over the course of the next 23 years in Compliance, he sat on the board of a Universal Broker for 5 years before venturing out into Asset Management, 2 foreign banks and finally investment bank as the Head of Compliance, a position he has held for the past 8 years. He is also currently the Chairman of the Compliance Committee of the Malaysian Investment Banking Association (MIBA).

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