Consumer Protection Risk Culture & Ethical Behaviour in Financial Services
The Professional Certificate in Consumer Protection Risk, Culture and Ethical Behaviour in Financial Services is a single module level 7 qualification and is the industry benchmark culture qualification for people working in the financial services industry across all roles and functions up to senior manager level.
| Award Name | Special Purpose Certificate (Level 7 NFQ) |
|---|---|
| NFQ Classification | Special Purpose |
| Awarding Body | University College Dublin |
| NFQ Level | Level 7 NFQ |
| Award Name | NFQ Classification | Awarding Body | NFQ Level |
|---|---|---|---|
| Special Purpose Certificate (Level 7 NFQ) | Special Purpose | University College Dublin | Level 7 NFQ |
Duration
1 Trimester
Delivery: Online.
Entry Requirements
The minimum entry requirements are as follows:
• Five passes in the Leaving Certificate, including English and Mathematics
• Five O Level/GCSE passes, including English Language and Mathematics.
IOB will also consider applications on a mature candidate basis from applicants who are 23 years of age before the date of their application for admission to the programme.
Professional Body Membership
You must be a current member, or become a member of IOB if you are not already a The Compliance Institute member.
Further information
Next intake
Autumn Trimester (2023-2024 academic year)
Please note that the programme content and fees are subject to change in the 2023/2024 academic year. Any changes will be outlined in the 2023/2024 prospectus and at iob.ie in August - the start of the new academic year.
Consumer Protection Risk, Culture and Ethical Behaviours - €680
Highly relevant to all roles and functions including;
All financial institutions’ frontline staff
All financial institutions’ central functions including compliance, operational risk, internal audit, credit review, legal, finance, information technology and change management
Accredited Product Advisors (APA)
Qualified Financial Advisors (QFA)
Regulatory bodies
Non-financial institutions including auditors, accountants, lawyers, stockbrokers and business consultants who provide risk management advisory services.
How you will benefit
This programme will provide you with:
Consumer Protection Risk Assessment:
Understanding background, purpose, approach and transition points of CPRA to consumer protection.
Understanding the rules on protecting consumers.
Components of a good consumer/conduct risk framework.
Product Governance, lifecycle, how to develop products correctly.
Selling financial products appropriately and ensuring the right outcomes post the sale transactions.
Understanding the role of incentives in encouraging the right behaviours and accountability.
Monitoring and MI
Ethics Values and Integrity:
Foundational concepts of ethics, values and integrity.
Behavioural economics and its relevance in financial services.
What it means to be ethical in Financial Services and how the right ethical climate supports good decision making.
How ethical behaviours can improve customer outcomes.
The role of morality and values in creating the right behaviours.
What happens when things go wrong.
What obligations do businesses have to customers.
How to effectively challenge and escalate.
Good and Bad Behaviours
Culture:
Indicators of a sound risk culture.
Regulator expectations and reports.
Roadmap for achieving desired culture.
Governance arrangements around the design, monitoring, and analysis of culture MI.
How culture can be assessed in organisations/ culture audits.
Understanding the importance of culture in ensuring good customer outcomes.
Understanding the role of mind-set and sense-making on behaviours and how this is being applied in supervision of culture and behaviours.
Understanding the role of group dynamics.
Understanding the impact of biases when making compliance decisions
Consumer Protection Risk, Culture and Ethical Behaviours
(NFQ level 7, 5 ECTS)
Consumer Protection Risk Assessment and Conduct Risk
Consumer Protection Risk Management Frameworks (CPRMF). Conduct risk and conduct risk standards. Selling financial products appropriately - including outcomes. Understanding of customer experience. Drivers and causes of conduct risk. Constituents of conduct risk including behavioural economics. Relationship with the overall banking risk framework. Conduct risk appetite statements. Conduct risk policies and common metrics. Conduct risk impacts on customers, on employees, the financial institution and on markets.
Culture and Behaviour
Understanding the importance of culture in ensuring good customer outcomes. Indicators of an effective risk culture. Regulator expectations and reports. Roadmap for achieving desired culture. Governance arrangements around the design, monitoring, and analysis of culture MI. How culture can be assessed in organisations/culture audits. Understanding the role of group dynamics. Diversity, inclusion and its impact on decision making. Understanding the impact of biases when making compliance decisions. Understanding and embedding ‘Consumer Focus’ behaviour. Understanding the role of mind-set and sense-making on behaviours and how this is being applied in supervision of culture and behaviours. CPRA and Behavioural Economics.
Ethics
Foundational concepts of ethics, values and integrity. What it means to be ethical in financial services and how the right ethical climate supports good decision-making. What obligations does the financial services industry have to customers? What is the right thing to do?. What happens when things go wrong. How to effectively challenge and escalate.
A combination of continuous assessment and an end of trimester two hour written exam.
Award
Professional Certificate in Consumer Protection Risk, Culture and Ethical Behaviour in Financial Services from UCD.
For more information please contact education@iob.ie
Institute of Banking
Email: info@iob.ie
Phone: +353 (0)1 6116500
Fax: +353 (0)1 6116565