ACOI Newsletter - April 2021

March was an extremely media-heavy month for the ACOI.

The “Davys Bond Scandal” truly brought compliance to the public eye and in response to this story breaking, some of the largest media outlets in the country approached us for our opinion on the issue (incl. the Irish Independent and the Sunday Business Post.) Read more…

The results of the ACOI’s Future of our Working Environment survey were also released this month. It revealed that 74% of firms believe the sector will see notable recruitment in 2021. This survey also garnered attention from the media with outlets such as RTE and Business World covering it. Read more…

And finally, ACOI CEO, Michael Kavanagh, spoke to the Irish Times about data privacy issues that can arise in modern cars and the measures that should be taken to ensure data breaches do not occur. Read more…

Be sure to keep an eye on our news section and on our LinkedIn and Twitter accounts for the latest ACOI news updates.

The following webinars are now open for booking (click on the link for more details):

• Anti-Fraud
• Outsourcing
• Regulatory Engagement
• GDPR
• Culture & Accountability

The currentQ2 CPD programme can be found here. We will be continuously adding additional events and will update you accordingly.

To register and for more information on our webinar offerings, click here.

Have you listened to our new Compliance Files podcast series yet?

This unique podcast series in which ACOI president, Kathy Jacobs, speaks to some of the top leaders in the area of compliance, has been met with extremely positive feedback from listeners and is a must-listen for professionals working in the area. The ACOI has now six recordings available, and there is lots more to come.

Episodes:

In Episode 3, to mark International Women’s Day, we recorded a special episode which featured Irish female leaders in regulation and legislation speaking about their experiences in leadership. Speakers included Mary Elizabeth Munn (Director of Credit Institutions Supervision at the Central Bank of Ireland), Jennifer Dolan (Assistant Commissioner with the Data Protection Commission and the DPC’s Head of Children’s Policy) and Senator Fiona O’Loughlin (Chair of the Oireachtas Education and Skills Committee).

In Episode 4, MB Donnelly, Assistant Commissioner at the Irish Data Protection Commission, discusses compiling the Data Protection Commission Annual Report, emerging trends and how the DPCs would like the report to be utilised.

In Episode 5, Kian Cauwell, Head of Conduct Risk and Compliance Advisory at KBC Bank Ireland, discusses conduct risk and provides valuable insights into how an organisation should efficiently manage conduct risk.

In Episode 6, Stephen Hudson, Deputy Money Laundering Reporting Officer at Permanent TSB, discusses the importance of firm-wide AML frameworks, the role of the compliance professional and the role of the first line of defence in managing AML risk.

If you missed an episode of the Compliance Files, listen back here.

We are delighted to announce that our new educational offering – the Professional Certificate in Anti-Money Laundering in a Fintech Environment is scheduled to commence in May.

ACOI and Professional Accountancy Training (PAT) have collaborated on designing a contemporary practitioner focused course to provide members of the ACOI with the skills and competencies that support a culture of AML compliance in this new environment.

CPD hours have been accredited for this programme:

• Module 1: AML Compliance Framework
  • LCOI - 8 hours
  • MCC - 2 hours
  • QFA - 2 hours
  • AFP - 3 hours
• Module 2: AML Compliance Cycle
  •  LCOI - 8 hours
  • AFP - 3 hours

This highly interactive course will be delivered online by a team of industry professionals drawn from across the Fintech ecosystem and will run over 18 evenings once a week (3-hour sessions).

More information on the Professional Certificate in Money Laundering in a Fintech Environment will follow.  

At this stage all successful candidates that completed the most recent sitting of the Professional Diploma in Compliance (PDC) have been invited to become a Licentiate of the Association of Compliance Officers in Ireland (LCOI).

The LCOI designation satisfies the Central Bank of Ireland’s Minimum Competency Code. There are many other benefits to taking up your professional designation such as professional development and career opportunities plus your designation is recognised internationally. For a full list of member benefits please click here.

Steven Roberts, vice-chair of the ACOI Data Protection & Information Security working group and head of marketing at Griffith College, has written a new book. Data Protection for Marketers: A Practical Guide presents data privacy principles in a simple and transparent manner, focusing on the practical steps that marketers can adopt, along with useful case study examples.

Marketers are one of the main users of personal data in any organisation. Since the introduction of GDPR, marketing professionals must have a thorough understanding of data protection.

Steven has more than 20 years’ marketing experience in Ireland and overseas.

The book will be available from mid-April. For more information, click here.

The latest issue of the ICQ (Irish Compliance Quarterly) magazine, includes content on a wide range of topics including:

• Culture, Ethics, Values, Beliefs - Which Comes First?
• Compliance in the Age of Digital Finance
• Interviews with Caroline Goulding, TikTok and Claudette Whyte, Barclays Ireland
• CP86 Fund Management Company Guidance & Effectiveness
• Dear CEO Letter - Schedule 2 Firms
• ‘Compliance and the COVID-19 Pandemic’ essay
• The results of DLA Piper’s GDPR Data Breach survey

Click here to read online.

The IOB and ACOI are conducting a survey regarding the MSc in Compliance. The aim of the survey is to gather feedback to inform the programmatic review being undertaking on the MSc. If you are a graduate of the programme or have undertaking the Professional Certificate in Data Protection or Financial Crime Compliance, 2 modules on the MSc please complete the survey and provided your views and opinions. The closing date for completion is 23rd April.

To access survey, click here.

As mentioned in episode 4 of the Compliance Files, ARC (Awareness Raising Campaigns for SMEs) has launched a survey to gain insights into the way in which Data Protection is incorporated into the daily workings of small to medium enterprises across Europe and, in particular, the challenges faced by SMEs in their efforts to comply with the General Data Protection Regulation.

The aim of the survey is to provide guidance to the ARC project so that it can tailor its guidance to better suit the needs of the sector and reduce the burden associated with compliance.

For more information on this project and to complete the survey,  click here.