| CODE | BFI5501 | ||||||
| TITLE | Compliance Management | ||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||
| MQF LEVEL | 7 | ||||||
| ECTS CREDITS | 10 | ||||||
| DEPARTMENT | Banking, Finance and Investments | ||||||
| DESCRIPTION | This unit Compliance Management is designed to provide a comprehensive appreciation of the roles and responsibilities of compliance officers in financial services entities, emphasizing both the regulatory environment and practical implementation. Focusing on Maltese and EU regulatory landscapes, the course covers the policies, frameworks, and regulations shaping the compliance function, alongside the development and execution of effective compliance monitoring programs. Participants will learn to navigate and manage compliance challenges through real-world case studies, ensuring adherence to both theoretical and practical aspects of compliance management in the financial services sector. Study-unit Aims: - To provide a thorough appreciation of regulatory frameworks impacting compliance officers in the financial services sector, with a focus on Maltese and EU regulations; - To equip participants with practical skills for the effective management of compliance functions and monitoring programs; - To explore and define the roles and responsibilities of compliance officers within Maltese and EU regulatory standards; - To examine key regulations and frameworks governing compliance activities; - To apply best practices in the development and management of compliance monitoring programs; - To analyze real-world challenges in compliance management and develop effective communication and reporting strategies. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - Gain comprehensive application of the Maltese and EU regulations, frameworks, and policies affecting compliance officers; - Define Compliance Officer Responsibilities and clearly articulate the scope and limitations of compliance officers within the regulatory context; - Identify the evolving role of regulation and compliance management as the developing regulatory framework becomes more intrusive and complex. 2. Skills By the end of the study-unit the student will be able to: - Develop and Implement Monitoring Programs: Design and execute effective compliance monitoring programs, aligning with regulatory requirements; - Navigate and Manage Compliance Challenges: Address practical compliance challenges using case studies and best practices; - Apply Ethical Decision-Making in Compliance: Incorporate ethical considerations into compliance decision-making; - Effectively report and Communicate: Master regulatory reporting and develop strategies for effective stakeholder communication; - Promote A Compliance Culture: Advocate for a strong compliance culture within organizations, aligned with local and EU expectations; - Evaluate the impact of regulation on the compliance requirements of an insurance entity; - Interpret regulatory requirements on governance, risk and compliance in managing operational risk - Interpret developments in the regulatory regime in connection with compliance matters. Main Text/s and any supplementary readings: Main - Buttigieg, Christopher P., An Evaluation of the Theories and Objectives of Financial Regulation Post the 2007-2009 Financial Crisis: A European Perspective (August 1, 2012). - ELSA Malta Law Review 2012, Available at SSRN: https://ssrn.com/abstract=2121334 Supplementary - Beerbaum Dr., Dirk, Applying Agile Methodology to Regulatory Compliance Projects in the Financial Industry: A Case Study Research (April 26, 2021). Available at SSRN: https://ssrn.com/abstract=3834205 or http://dx.doi.org/10.2139/ssrn.3834205 - Buttigieg, Christopher P., The Institutional Models for Financial Supervision: An Analysis (December 17, 2012). The Accountant, Spring 2013, pp. 12-16, Available at SSRN: https://ssrn.com/abstract=2190501 or http://dx.doi.org/10.2139/ssrn.2190501 - Keay, Andrew R., Comply or Explain: In Need of Greater Regulatory Oversight? (September 10, 2012). Available at SSRN: https://ssrn.com/abstract=2144132 or http://dx.doi.org/10.2139/ssrn.2144132 - Li, Kai and Broshko, Erinn B., Corporate Governance Requirements in Canada and the United States: A Legal and Empirical Comparison of the Principles-Based and Rules-Based Approaches (February 2006). Sauder School of Business Working Paper, Available at SSRN: https://ssrn.com/abstract=892708 or http://dx.doi.org/10.2139/ssrn.892708 - Ford, Cristie L., New Governance, Compliance, and Principles-Based Securities Regulation. American Business Law Journal, Forthcoming, Available at SSRN: https://ssrn.com/abstract=970130 - Coglianese, Cary and Kagan, Robert A., Regulation and Regulatory Processes. REGULATION AND REGULATORY PROCESSES, Cary Coglianese, Robert A. Kagan, eds., Ashgate Publishing, 2007, U of Penn Law School, Public Law Research Paper No. 08-43, Available at SSRN: https://ssrn.com/abstract=1297410 - Coglianese, Cary and Nash, Jennifer, Compliance Management Systems: Do They Make a Difference? (August 25, 2020). in Cambridge Handbook of Compliance (D. Daniel Sokol & Benjamin van Rooij eds., Cambridge University Press, Forthcoming), U of Penn, Inst for Law & Econ Research Paper No. 20-35, Available at SSRN: https://ssrn.com/abstract=3598264 - Colaert, Veerle A., RegTech as a Response to Regulatory Expansion in the Financial Sector (June 2018). Available at SSRN: https://ssrn.com/abstract=2677116 or http://dx.doi.org/10.2139/ssrn.2677116 - Mihai Yiannaki, Simona, Regulatory Failure and the Subprime Credit Crunch - The Importance of Basel II Regulation/Supervision (October 17, 2008). The Icfai University Journal of Banking Law, Vol. 2, April 2009, Available at SSRN: https://ssrn.com/abstract=1413765. |
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| STUDY-UNIT TYPE | Lecture | ||||||
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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