INTRODUCTION
A critical component of safe and sound bank management is constituted by an effective and efficient system of internal controls, which help to ensure that the goals and objectives of a bank will be met, that long-term profitability targets will be achieved, and maintain reliable financial and managerial reporting. Such a system can also ensure that the bank will comply with laws and regulations as well as policies, plans, internal rules and procedures, and decrease the risk of unexpected losses or damage to the bank’s reputation. The course describes the essential elements of a sound internal control system and through a qualitative approach, it shows how is tied to the rules attaining capital requirements and, above all, to the purpose of the Internal Capital Adequacy Assessment Process (ICAAP) which aims at determining the adequate capitalisation of a bank given the risks endured as well as future risks arising from growth, and new business lines.
After the recent financial crisis ICAAP is becoming more and more relevant and a central component of an effective strategy for managing risk and creating value. All principles and considerations are referred for dimension and for governance and risk management.
Course Aim
- the role and importance of internal control system in good risk management practice with a particular emphasis on management structure and reporting system and in general with Principles of Corporate Governance and Risk Management.
- Ensure your organization has an effective balance between risk and internal control
- Explain to management the benefits of an enterprise –wide approach to risk and internal control
- Apply the different techniques for identifying and managing risks
- Ensure that preventative, detective and corrective controls are in place
- Link risk management and internal control into the business planning process
- Implement an effective fraud prevention process
- Promote a culture of integrity and ethics across the organisation