INTERNATIONAL DIPLOMA IN GOVERNANCE, RISK AND COMPLIANCE

Q A ( world limit 1200):
– Talk about the bank. (World bank is located in the kingdom of Bahrain and regulated by the central bank of Bahrain, and list what products the bank offers as an introduction for the essay)
jurisdiction chosen for this topic is the kingdom of Bahrain)
– Talk about yourself. (head of compliance-brief)
– Identify the Pointing mistakes such as:
A) Selling a product of 10 years life to 80 years old guy (elaborate) give example of mis-selling ( 3 to 4 lines) , talk about protecting investors & TCF.
B) poor sales and compliance culture
C) record-keeping issues in respect of customer due diligence matters and find that there has been minimal oversight of sales activities in relation to high-risk products, either by management within that area or by the Compliance and Assurance team
D) training weaknesses relating to both the sales team and the Compliance and Assurance team.
E) no single compliance or governance, risk and compliance manual in use within the division
F) limited level of reporting and interaction between the satellite and main Compliance and Assurance Teams.
Problems:
– Compliance is very weak / their practice is weak.
– No risk based policy.
– No proper classification.
– Decentralized compliance function.
Note: Refer to regulation & link it to the weaknesses. Why we have to report it and what happens If we don�t report it
Q B ( world limit 1800):
– Points from page 23 ( elaborate ).
– What should compliance officer do:
A) Why it is concerning
B) Lead a team to investigate ( page 27 2nd slide):
1- Internal auditor
2- Compliance officer
3- Law officer
4- Wealth management ( relating to 10 years product)
5- Risk officer
6- IT member ( application used)
C) Internal investigation
D) Findings.
– Plan of action:
A) What the bank should do next.
B) Specify the time frame.

c) Why we need it?
d) Indicate actions to solve the problem, why those actions important. ( compliance framework)

 

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