Upskill with Resolve
Training has the most successful outcome, in terms of knowledge retention and hence value for money, when the attendees can relate the session content to their day to day working environment and when the content is set at the right level for the attendees.
Our training avoids the one size fits all approach. We ensure that the sessions are of high quality, meet your desired post training outcomes, are relevant to the nature of your business and the experience of the attendees.
We offer training on areas detailed below, however this is not inclusive and should you wish for training on any compliance, regulatory, risk, governance or company secretarial matter we would be delighted to put together a tailored session or course for your business.
Further, we offer a 7 day post training window for all course attendees to raise any questions or request further questions on any course content covered during the session.
Private Equity Demystified
Private Equity is an important source of business to Guernsey and these clients have the highest expectation of administration firms and their staff. Due to the pressure of day to day work training is often focussed on the job.
This training session steps back and looks at the wider picture. Topics include:
- Typical fund structures
- Who are the parties in a fund and how do they interact
- Difference between Private Equity and other funds
- Role of the Manager
- Carried Interest
- Impact of Regulation
- Role of the banks & leverage
- Types of Private Equity Fund
- Investment/Divestment process
- Calls & Distributions
- Typical Reporting
- Regulatory Framework
Board Meetings
For those new to administration board meetings can be quite intimidating.
Our training will deal with the fundamentals. Who has to be invited to board meetings, who has the right to call one, how is one convened, what is a quorum, board meeting etiquette, what is the Chairman’s role, what is included within the agenda and so forth. In order for administrators to be effective a broader understanding of what we do and why we do it is important.
Effective Minute Writing
Minutes of meetings are important. Not only are they an aide to recording agreed actions but they can be used in legal situations at some later date as evidence of a board's decision making. For regulated businesses minutes form an important part of the corporate governance framework.
Our training will provide guidance on best practice and tips and hints for those new to minute writing or for those who feel uncomfortable taking notes and writing minutes.
Companies, Trusts, Foundations and Partnerships
Within the Guernsey administrative environment a wide variety of vehicles can be used as part of fiduciary or fund structures. The differences between them are wide and can be easily confused.
Our training in this area will discuss the differences between the vehicles and also typical uses for each type.
Board Performance Reviews
A board performance review is recommended as effective corporate governance. An effective review outcome should be constructive and not critical. The result of the evaluation process can lead to immediate improvements in performance for both individuals and boards collectively.
Our training in this area will enable a board self-evaluation process to be undertaken. Alternatively we can undertake an independent review.
Directors Duties and Responsibilities
Holding a company directorship requires far more than just turning up for board meetings. Our training will look at recommendations for a new director induction process including what information should be provided by the Company. We will also look at declarations of interest and conflict of interest together with use of alternates and powers as a director.
Internal Control Framework
At the heart of good corporate governance sits an effective internal control framework. Internal controls should provide comfort as to the effectiveness of operations, compliance with policies & procedures/Laws & Regulations and quality of reporting.
Our training will look at methods to achieve and maintain an effective internal control framework in your organisation.
Subsidiary Governance
Do you have subsidiaries, or are you a subsidiary? Governance surrounding the parent/subsidiary relation is important and can be overlooked. Is the subsidiary abiding by the parent company’s policies and procedures, has it adopted them as its own or does it have conflicting policies? Alignment between the parent and the subsidiary in relation to risk appetite is key and effective communication flow and reporting is vital between boards.
Our training will provide sufficient information for you to consider governance if you are the subsidiary or the parent and will enable you to document your findings and make recommendations for change if required.
New Legal/Regulatory Impact
The legal/regulatory environment does not stand still. It is important with the arrival of any new law or regulation that financial services businesses consider the impact on the business and their existing processes and procedures. We can assist with training to enable a practical interpretation and impact or alternatively we can update your existing framework for you.
PRISM
The Guernsey Financial Services Commission (‘GFSC’) has adopted a new approach to Licensee supervision. PRISM radically changes the conduct of an onsite visit both in terms of pre-visit information requirements and the process during the onsite itself.
Our training (based on experience) will provide you with the tools to ensure that your business is fully prepared for a regulatory inspection and give you practical guidance.
Business Risk Assessment
The Business Risk Assessment and Initial Risk Assessment process is essential if your firm is to appropriately identify, assess and manage the risks presented to the business by its customers. The risks identified should be considered and documented. Senior management must engage in the process, compliance culture is important. Risk assessment should be a continuous process with the assessment updated when risks change or new risks are identified. The risks associated with new products or services must be considered early on in the process.
Our training will consider the entire risk assessment process with recommendations as to format and content.
Outsourcing Risk
Many financial services businesses are exposed to outsourcing risk. Perhaps this is due to the outsourcing of one or more functions to achieve benefits not easily achievable in-house or maybe the regulated entities under your administration have outsourced to a third party or even back to the client in some cases. It is vital that outsourcing risk is appropriately managed. Outsourcing is considered as part of the PRISM approach to regulatory oversight and a key part of any onsite visit.
Our training covers the management of outsourcing risk from the provider selection process, initial risk assessment/due diligence and ongoing monitoring.
Data Protection / Information Security
Data protection is more than just having a paragraph on a form or having a policy in place. Individuals need to have an awareness surrounding the subject matter and their obligations to ensure that they do not inadvertently cause breaches. Many breaches are simply down to a lack of understanding. We can provide a session to raise awareness, to identify what is personal data and to encourage secure handling.
Conflict Of Interest
Identification of what the conflicts of interest (‘COI’) are within a business and how to manage these conflicts is a growing area of concern. We aim to provide you with the skills to identify and manage the conflicts within your business. It is not the role of the Compliance Officer to identify all of the conflicts within the business and culture plays a vital part in the successful implementation of a satisfactory COI regime. Our training can be one to one to enable an individual to take responsibility for implementation or upgrade of your COI policy and framework or alternatively we can provide a session to raise awareness of this important area within your business.
Compliance Monitoring
Compliance monitoring is an essential and integral part of the risk management framework of any financial services business. Compliance monitoring is a form of quality assurance over the day to day activities of the business, the outcome of which provides the business with a risk map highlighting areas where attention is required. We can provide training to enable you to review and upgrade your Compliance Monitoring Plan (CMP) in line with best practice.
MLRO / Nominated Officer
It is important that your MLRO/Nominated Officer is able to deal confidently and appropriately with suspicious activity reports received. Decisions are required once a report has been received. Is a report to be made externally, if not why not? What do we need to do once a report has been made? Do we keep the authorities updated? If so, how often? Who can I discuss this with, can I talk to management or a board member? It is just as important that your MLRO understands his/her obligations once a report has been received and we offer a comprehensive training session with examples.
Enhanced AML / CFT
The obligation to provide senior staff with appropriate training should not be overlooked. We can tailor an additional layer of training for your senior staff. The risk to both individuals and businesses cannot be stressed enough. It is these members of staff who have the most exposure to client board meetings, client visits and awareness of the bigger picture across client activities and must be equipped to identify AML/CFT risk.
AML/CFT
Often this training is undertaken via a generic online module with no industry specific training. Further the motivation for those taking the training is all too often to simply achieve the required pass mark to ‘tick the box’ and to breathe a sigh of relief at not having to do the test again for another year. AML/CFT risk is very real to both businesses and individuals and employee/business failure to comply with obligations can have a serious and long term impact. We have found the most value is gained when these sessions incorporate typologies relevant to your service offering with actual examples (which may not always be obvious) and interactive discussion.
Compliance Induction Training
We can take care of your new employee induction training to cover AML/CFT/Anti-Bribery and Corruption tailored to suit the level of the employees undergoing the training plus incorporate Risk and Regulatory, Conflict of Interest and Data Protection. This can be utilised on a one to one approach or in small groups.