MSc/Graduate Diploma in Compliance

Course details

This MSc in Compliance course will provide participants with the multi-disciplinary skills to participate more effectively in the ever-changing world of compliance management. It is targeted at those who wish to understand a more practical application of compliance best practice.

The design of the course has been influenced by extensive discussions with industry and compliance professionals. Modules will be taught by recognised leaders in the particular subject / module areas.

The emphasis in the course will be on the application of key concepts to enhance the skills of participants and to create a learning forum where wisdom and insights can be dissected and shared.

Learning Outcomes

This course has been designed to provide compliance (and other control) professionals with the necessary skills to implement effective compliance structures and enhance the overall internal governance structures of organisations.

Who should Attend

The course is open to individuals with a relevant undergraduate degree in a business or legal discipline at Level 8 NFQ who have completed the Professional Diploma in Compliance.

Applicants should also have at least three years management experience in a compliance role. Applicants who do not hold a primary degree or the Professional Diploma in Compliance but have exceptional middle and senior management experience in a control function (compliance, audit, credit or treasury) are eligible to apply and will be considered on a case-by-case basis (by the Programme Director).

This programme will appeal to candidates occupying senior compliance and/or internal control management positions.

Course Content

The course is made up of eight modules:

• Ethics and Corporate Governance
• Managing for Compliance
• Financial/White Collar Crime Prevention
• Data Protection Policy and Procedures
• International Financial Services Regulation
• Designing an Internal Governance Framework
• Compliance Project
• Behavioural Decision Making

1. Ethics and Corporate Governance

The module looks at the corporate governance best practice principles and their application in both a financial services and a general organisational setting. It also considers the ethical dilemmas faced by those charged with governing organisations and presents approaches for dealing with such dilemmas. The module will introduce a number of topics and suggested methodologies to the student but will also require input from the student’s personal experience to develop a best practice approach for the elements of ethics and corporate governance examined.

2. Managing for Compliance

The module looks at the development of the role of compliance as an assurance function and examines the strategic role of compliance in an organisation in aligning with the business and delivering value. The module also looks at some of the specific issues in managing a compliance function to ensure it fulfills its assurance role within an entity. It will introduce a number of topics and suggested methodologies to the student but will also require input from the student’s personal experience to develop a best practice approach for the elements of compliance examined.

3. Financial/White Collar Crime Prevention

This module explores the different types of financial and white collar crime, how these crimes are investigated and how organisations manage to control these crimes through policies, procedures, detection and preventative methods. The module considers the legal requirements relating to financial and white collar crime prevention.

4. Data Protection Policy and Procedures

This module explores data protection rules and case law (EU, UK and Ireland) as well as the application of best practice data protection standards.

5. International Financial Services Regulation

This module critically evaluates the theory of financial services regulation. Changes in global, European and domestic financial services regulation are explored in the context of the global financial crisis. The core areas of banking, insurance and asset management are considered in detail.

6. Designing an Internal Governance Framework

Drawing on regulatory and best practice guidance on internal governance, this module looks at the development of a robust, organisation-wide internal governance framework encompassing operational departments, risk management, compliance, internal audit and the board of directors. The module explores the development of such a framework under different contexts, including multi-nationals with worldwide subsidiaries.

7. Compliance Project

The compliance project involves students designing and implementing a compliance course relevant to their own organisation and/or professional development. The module investigates a variety of research methodologies that could be used to formulate a course design. Students are assisted with their projects through a series of interactive workshops.

8. Behavioural Decision Making

Behavioural Decision Making takes its premise that decision making is not necessarily driven by “rational” considerations but by aspects of personal and market psychology. It recognises that our abilities to make complex, financial decisions are limited, and that we can improve our performance by recognising the biases and errors of judgement to which we are all prone. The findings have direct relevance to everyone involved in management and decision making. We also explore the insights that psychologists can provide, comparing “rational” to “irrational” behaviour and contrasts the tenets of behavioural decision making to those of traditional decision making. The implications for investors, analysts and corporate finance managers are illustrated.