Welcome to the December issue of the ACOI Newsletter

ACOI in the News

The ACOI continues to receive positive media coverage regarding findings from ACOI surveys on issues that impact compliance professionals and the business community. ACOI Chief Executive, Michael Kavanagh, was widely quoted regarding the impact of the ‘Schrems II’ ruling by the European Court of Justice (ECJ) which invalidated the EU-US Privacy Shield. Thanks to Tom O’Connor and Steven Roberts from our Data Protection & Information Security (DPIS) Working Group for their help on the drafting of the ACOI survey. According to responses to the survey, the lack of clarity on data transfers is the biggest challenge facing 65% of respondents, with 40% of companies saying it will affect their ability to do business in the US and an even greater number concerned about its possible impact with Britain. Details of the Irish Times coverage on the ‘Schrems II’ coverage can be found here.

For the latest news and events updates, visit acoi.ie and follow ACOI on LinkedIn and Twitter

CPD Events

If you have not yet fulfilled your CPD requirements, you can still register for the following CPD events this month.

2nd December: FinCEN Files Unveiled – How Oligarchs, Criminals and Terrorists Hide and Move Their Money. Click here to register.

8th December: Fintech Risk & Compliance – ‘Outsourcing Risks’. Click here to register.

15th December: Liquidity, Challenges Facing the Global Markets. Click here to register.

16th December: Sustainable Finance - an overview of our global sustainable development challenges and the role of the FS sector. Click here to register.

Details of upcoming webinars can be found in the Events Section of the ACOI web site along with recent webinars and events.

ACOI Members Feature in Top 25 KYC & AML Thought Leader List

We are delighted to hear that ACOI members Rachel Woolley (a member of the ACOI Financial Crime Compliance Working Group), Ran Weissblech and Peter Oakes have been named in the ‘Top 25 KYC and AML Thought Leaders to Follow’ along with other Compliance Leaders from around the world.

Rachel has contributed to the next edition of the ICQ, participated in the IFCA conference, and will also be a panellist on the Fintech Risk & Compliance - ‘Outsourcing Risks’ event on 8th December.

The full list can be viewed here.

CPD Codes
 

The CPD year end is approaching and ACOI would like to remind our designate members that your 2020 CPD requirement must be completed by 31st December 2020 and your annual return must be submitted by 31st January 2021 through the IOB ‘My Institute’ portal.
To assist members logging their CPD, we have published a full list of CPD codes from ACOI events in 2020. To access the list, click here.

Programmes Open for Registration
 

The Professional Certificate in Data Protection and the Professional Certificate in Financial Crime Prevention programmes leading to the CDPO and CFCPP designations are open for registration. The semester commences in February 2021 and the closing date for registration is 29th January 2021.

The following two upcoming ‘taster’ events will take place on 2nd and 16th December to promote the professional certificates on the level 9 programme:

Financial Crime - Is prevention still a priority?
On 2nd December, hear from Tim Roulston and a graduate from the Professional Certificate in Financial Crime Prevention programme Jackie Murphy. The programme has been carefully designed for Money Laundering Reporting Officers and others who specialise in this area and is the only accredited qualification at this level.
Click here to register for free.

Data Protection – Where Now and What Next?
Join Dennis Kelleher on 16th December for this programme taster as he considers enforcement, international transfers and cookies against the backdrop of a rapidly changing data protection landscape.
Click here to register for free.

GDPR Survey: Measuring impact and managing risk

Mazars and McCann FitzGerald invite ACOI members to complete their brief GDPR survey, which should take no more than seven minutes to complete.

Your responses will not be associated directly with you or the company for which you work. They will be incorporated into composite feedback which will form an overall picture that will be published in January 2021.

We would encourage you to share your views by clicking here.

Last years survey, published in January 2020, provided a useful picture of GDPR compliance in Ireland and clearly showed that a majority of organisations have some work to do to achieve compliance with GDPR.

The survey findings showed that 71% of companies had reported a personal data breach to the Data Protection Commission (DPC), or another supervisory authority, in 2019, while only 8% believe they were ‘fully compliant’ with the General Data Protection Regulation (GDPR).

Survey responses also suggested that many organisations were not engaging in activities usually considered integral to achieving GDPR compliance. To view the previous survey results, click here.

ACOI at IFCA Compliance Congress

ACOI members and council members featured prominently at the recent International Federation of Compliance Associations (IFCA) International Compliance Congress which concluded on November 20. The virtual five day event attracted compliance leaders from all over the world and included a series of highly engaging presentations, interviews and panel discussions. The ACOI members who featured in panel discussions at the IFCA Congress are:

Gonzalo Caro: Data Protection Manager at EU DPO, at Facebook. Panel Discussion: Artificial intelligence, machine learning and the transformation of compliance.

Rachel Woolley: Global Director of Financial Crime, at Fenergo - Suptech, Regtech & member of the ACOI Financial Crime Compliance Working Group. Panel Discussion: Fintech and its impact on regulation and compliance as we know it.

Tom O’Connor: Head of Compliance and Money Laundering Reporting Officer (MLRO) at HedgeServ Ltd. Panel Discussion: The unique benefits of a quality compliance function and framework in an organisation.

Clive Kelly: ACOI Council member, lecturer, author & examiner in Risk management, Compliance, Financial Markets, Bank Directorship, Governance and Culture. Panel Discussion: Influence of business ethics on the anticorruption environment.

A review of the IFCA International Compliance Congress is published in the Winter issue of ICQ

ICQ Magazine - Winter 2020

The Winter issue of ICQ members magazine will be published next week with editorial content to include:

• The Power of Networking - Kingsley Aikins.
  

• Recent Developments in AML - John Higgins, VP Compliance, Credit Suisse Dublin Branch and Rachel Woolley Global Director of Financial Crime Fenergo, with the support of the ACOI Financial Crime Compliance Working Group.
  

• International Data Transfers International Data Transfers: The Evolving Landscape - John Magee, Partner at DLA Piper and a member of the ACOI Data Protection & Information Security Working Group.
  

• Pan European Personal Pension (PEPP) Update - Caroline Griffin, Senior Regulatory Consultant in PwC and member of the ACOI Pensions Working Group.
  

• Frameworks for Making Ethical Decisions - Ed McDonald, FCOI, MA in Ethics and Corporate Responsibility, MBS Marketing & a member of the ACOI Ethics Committee.
  

• ACOI Annual Conference Review
  

• IFCA Compliance Congress Review - Legal & Compliance Professional, Sofia El Mansouri.
  

• Members Profile: Deepa Nair

ACOI 2020 Data Protection Guide

The ACOI Data protection Guide, based on the EU General Data Protection Regulation, the Data Protection Act 2018 and guidance available at the date of publication, has been updated to take into account website Cookies and Data Protection by Design and Default for the benefit of members. This ACOI Guide aims to provide ACOI members with relevant information and practical guidance on the key provisions of the law in a straightforward, easy to read format and is available here.

Annual Conferring Ceremony

Due to the exceptional circumstances this year, the ACOI’s annual conferring ceremony will not take place in the usual manner but instead, a virtual conferring ceremony will take place on 12th December for the almost 650 members who will be featured at this years event. 2020 graduates will receive their invitation to the event next week.

If you have any further queries regarding the conferring ceremony, please e-mail info@acoi.ie

Designation for Graduates

Congratulations to all our members who passed their recent Professional Diploma in Compliance exams. ACOI would like to remind you that you are now eligible to apply for your LCOI designation. There are many benefits to taking up your professional designation such as professional development, networking and career opportunities plus your designation is recognised internationally. To find out more, please email info@acoi.ie.

COVID-19 - Useful Links & Resources

Central Bank of Ireland

Companies Registration Office

Revenue

The Data Protection Commission

The National Cyber Security Centre

ACOI summary of the Return to Work Safely Protocol