Learning outcomes:
- Where SEAR fits within the framework
- The 3 C’s of Conduct Risk
- Responsibilities for (I)NEDs
- Mapping out SEAR within a Financial Institution
- Contraventions and Enforcement
Modules:
Introduction to SEAR as a Pillar of the Individual Accountability Framework
- Where SEAR fits within the Framework
- Culture and People – Why has SEAR been introduced to Financial Services in Ireland
- Culture, Conduct and the Client – The 3 C’s of Conduct risk
- Behaviours and past experiences
- Understanding Accountability
- SEAR
- Duty of Responsibility
- Reasonable Steps
- Inherent Responsibilities (IR)
- Sharing of Roles
- Prescribed Responsibilities / Other responsibilities
- Case Study #1 – ‘The UK Senior Managers & Certification Experience
- Responsibilities for (I)NEDs
- The importance of the role of (I)NEDs
- Collective Responsibility v Individual Responsibility – The ongoing debate
- Mapping out SEAR within a Financial Institution
- Statement of Responsibility (SoR)
- Management Responsibility Map (MRM)
- How SoR and MRM interact
- Contraventions and Enforcement
- Administrative Sanctions Procedure (ASP)
Who is the course for?
Participants will get an overview of SEAR as a pillar of Individual Accountability Framework.