Conflicts Of Interest – A Practical Guide & Workshop
A 1 Day Course
The FCA Requirements, Ethical & Best Practice Guidelines
What Makes This Course Different?
- We have been delivering training for over 20 years and this is one of our core competencies. We believe we are experts on this topic and having delivered training to a wide range of firms and businesses, we are certain we know the topic as well as anyone in the market place.
- Conflicts of Interest always seems to many to be a nebulous or esoteric subject that is only for board and senior management; we will show you everyday workplace examples or situations.
- Your course director is a highly successful, qualified and experienced executive who will pass on past experiences and “war stories” generally to enhance the workshop and help bring it to life.
- We do not use academics. All our trainers are highly experienced professionals with relevant qualifications and vocational experience in the real world.
- We have delivered many core governance, risk and compliance courses over recent years and have a very clear understanding of what good and bad look like and the consequences, intended or not, of poor decision making.
- Additionally, participant feedback informs us in both a precise and timely manner what the current dilemmas and challenges are.
- We have developed highly interactive and very enjoyable case studies to enhance the learning points. All delegates report that these are a high point.
- We are always judged by our results which speak for themselves and the feedback received from previous delegates has always been excellent.
- To be able to identify conflicts of interest effectively in a timely, professional and first-class manner
- To appreciate the ethical approach to conflicts of interest and why it is critically important
- To understand the legal and regulatory framework
- To recognise the need for a clear line of communication between operations and senior management for managing conflicts of interest
- To recognise good practice
- To avoid poor, sloppy or ineffective management of conflicts of interest
- Be able to define an effective and comprehensive conflicts of interest policy
- Learn how to identify unexpected consequences or hidden conflicts of interest
- Be able to identify the best response
- Be able to create a clear and auditable method for managing conflicts of interest to ensure transparency
- Think like a compliance professional and make sure you have all the right information
What are “Conflicts of Interest”?
- Definitions of conflicts of interests;
- Identifying and recording interests;
- Conflicts of Interest in the Workplace
- Conflicts of Interest by Boards of Directors
- FCA Conflicts of Interest
- – Types of Conflicts
- – Record of Conflicts
- – Managing Conflicts
- – Disclosure of Conflicts
- The relevant legal framework surrounding conflicts of interests;
Conflicts of Interest (CofI) and Ethical Threats
- What is Ethics?
- Different types of Ethical Dilemmas
- Ethical responses and Conduct Risk or TCF
- Different Approaches to Ethics
- Conceptual Framework
- Ethical Threats and Safeguards
Rules- and principles-based approaches
- Rules-based approach
- Principles-based approach
Ethical conflict resolution
- Typical Conflicts of Interest Policy
- Gifts, sponsorship and hospitality;
- Definition and inclusions; conflict of interest in corporate governance
- Mitigating actions; how to deal with a conflict of interest at work
- How to make decisions on identified conflicts;
- The risks around getting it wrong.
Workshop – CofI in practice
- Practical Dilemmas in the workplace; Conflicts of interest examples
- Key Issues
- Comments & Solutions
Think as a Compliance Professional
- Summary, Open Forum, Wrap up
Background of the Trainer
Lee has worked with a range of organisations from small start-ups through to FTSE100 companies, many that have had difficulties identifying and managing conflicts of interests, and helped them develop effective, robust systems. He has adapted his experience to develop this course and supporting materials with the practical skills-based focus. Lee’s skills, qualifications and experience make him ideal for supporting anyone wishing to develop top-class knowledge in the management of conflicts of interests.
Having been a freelance consultant and trainer for twenty years, your course director was appointed as a skilled person in 2012 and has conducted many audits, assessments, roll-outs and change management programmes from complaints programs, conduct risk frameworks, global risk frameworks, as well as having provided regulatory interpretation to investment banks, worked on many risk mitigation programs and set up banks.
Conflicts of Interest has always appeared as a problem for Senior Management in the past, but following the banking crisis from 2008, transparency and clear audit trails have become even more important whether it is an insurance contract, investment products or advice right through to mergers and acquisitions. Conflicts of Interest Management is easy if it is conducted in the right way, and that right way starts with the first line, right through to the Board of Directors and shareholders.
It is the very culture of a firm that makes Conflicts of Interest manageable or not. The accurate identification and reliable assessment of the potential impact, along with defined and practical procedures to follow, make conflicts of interest management effective, fair and compliant.