People Risk RegTech Solutions in a COVID-19 World
GRC Solutions Managing Director Julian Fenwick has participated in a global RegTech showcase with other RegTech professionals and experts.
Introduction to Regulation Z and the Truth in Lending Act (TILA)
Course Description
This training is for banking staff on their responsibilities and liabilities under the truth in lending law
There are severe penalties for lenders that do not comply with the truth in lending laws – staff training is a crucial part in ensuring that a lending business maintains compliance in this area.
This short, single-module course gives an overview of the many elements of TILA as they apply to both open-end (eg credit card) and closed-end (eg home lending) loans. TILA covers more than the requirement for lenders to provide clear and consistent loan information that allows consumers to make informed decisions about credit contracts. It also covers repayment procedures, right of rescission, limits on fees, dispute resolution, assessment of a borrower’s capacity to service a loan, record keeping, and more. Contact staff need to be aware of all these issues in order to avoid jeopardizing the business’ compliance with the law.
The training also outlines the penalties and other sanctions that apply in cases of non-compliance.
Who is this training for?
The course is a suitable introduction for all banking staff who deal with borrowers including credit card holders.
The Truth in Lending Act was passed in 1968 to help clear up confusion in the credit and lending markets that left most consumers dazed about exactly what they were signing up for.
Debt.org, America’s Debt Help Organization
Retail Banking Compliance Training
This course is part of the Retail Banking Compliance Suite
The courses available are
- Introduction to Fair Credit Reporting Act (FCRA)
- Fair Lending
- Introduction to the Office of Foreign Assets Control (OFAC)
- Introduction to Regulation CC and the Expedited Funds Availability Act
- Introduction to Regulation E and the Electronic Funds Transfer Act
- Introduction to Regulation D: Reserve Requirements
- Introduction to Regulation DD and the Truth in Savings Act
For more details, click on the course names above.
Course Outline
- Explain the purpose of Regulation Z and TILA
- Identify the main components and what it covers
- Recognize required disclosures and when they are used
- Promote understanding of the penalties for violations of TILA
Operational Risk Management in a Period of Disruption – Will Normal Programming Resume Shortly?
In both normal times and uncertain times, policies and procedures seek to give all employees support in the carriage of business activities.
Introduction to Risk Management
Course Description
“Everyone can benefit from Risk Management training.”
Alf Esteban, Protecht
We are pleased to offer Protecht’s popular Introduction to Risk Management course. This course introduces the concept and nature of risk as it relates to a range of organisations using a variety of concepts to aid topic understanding.
Chapter 1 identifies the nature and behaviour of risk and explores concepts such as Risk Awareness, Risk Acceptance and the risk lifecycle. It describes how different types of controls minimise risk, and considers the types of risks usually faced by financial institutions.
Chapter 2 considers the aims, objectives and key components of the Risk Management process within an organisation. It expands on the concept of the risk lifecycle, as illustrated by a Risk Funnel chart. It explains the 3 Lines of Defence Model and the various Risk Management Standards and methodologies used globally.
Chapter 3 explores the Risk Management process as defined by ISO 31000 and AU/NZS, and explains how Risk Management tools apply to business processes.
WHO IS THIS TRAINING FOR?
This training is suitable for those seeking an introduction to the field of risk management and those who need to have a broad understanding of risk management.
Course Outline
Module 1 : The nature and types of risk
Module 2 : Risk Management, Frameworks and Standards
Module 3 : The Risk Management Process
Introduction to the Office of Foreign Assets Control (OFAC)
Course Description
This training is for banking staff on how to avoid dealing with sanctioned countries, businesses and persons
There are severe penalties for banks that commit OFAC violations. Staff need to understand how the OFAC works and how to avoid committing violations.
This short, single-module course gives an overview of OFAC, is functions and how it works. The training provides an overview of the Sanctions List and the sorts of individuals and entities that may be included in it.
Learners are introduced to the compliance obligations that OFAC imposes on banks and given information on how they, personally, should act to support the bank in meeting those obligations. The penalties for non-compliance are discussed.
Who is this training for?
The course is a suitable introduction for all banking staff who on-board customers or who handle customer transactions.
Scenario
Jasmine is an executive officer at My Save Bank, which has its head office in Ohio. While undertaking an audit of pending transactions, she discovers a number of large sums of money being transferred to a foreign national in Yemen. Jasmine is concerned that the account name and details look suspicious and are not what My Save Bank would typically deal with.
What should Jasmine do next?
Retail Banking Compliance Training
This course is part of the Retail Banking Compliance Suite
The courses available are
- Introduction to Fair Credit Reporting Act (FCRA)
- Fair Lending
- Introduction to Regulation Z and the Truth in Lending Act (TILA)
- Introduction to Regulation CC and the Expedited Funds Availability Act
- Introduction to Regulation E and the Electronic Funds Transfer Act
- Introduction to Regulation D: Reserve Requirements
- Introduction to Regulation DD and the Truth in Savings Act
For more details, click on the course names above.
Course Outline
- Explain the background and purpose of OFAC
- Describe who must comply with OFAC
- Explain the purpose of the SDN list
- Promote understanding of the penalties for violations, civil and criminal
Online Learning Takes Off
The Latest GRC Asia report: Online Learning takes off / Consumption-Based Emissions / Latest version of Salt Compliance LMS
Not a question of if, but a matter of when: the vulnerability of data in business cyberspace
A moment of complacency, a daydream, or a (well-put-together) phishing email is all it takes for hackers to bypass even the most vigilant staff in your organisation.
Introduction to Fair Credit Reporting Act (FCRA)
Course Description
This training covers what banking staff need to know about consumer credit information regulation
Often called Regulation V, the FCRA defines the way consumer credit history can be collected and stored; the purposes it may be used for; and the rights of consumers to access it, monitor its use and seek to correct errors.
Bank staff need to be familiar with the FCRA in order to
- Understand how the bank may collect and use consumer credit information
- Know how to assist bank customers in accessing their rights under the legislation
This short, single-module course provides an introduction to the way the FCRA works, discusses the various rights that consumers have under the FCRA, and outlines a number of special rights relating to identity fraud.
Who is this training for?
The course is a suitable introduction for all banking staff, particularly those who are customer-facing.
Scenario
Gabriel is considering taking out a loan for $20,000 with Highest Power Finance to cover the purchase of a new car. Before taking out the loan, he wants to check his credit score with Equifax. He receives the report a week later and applies for the loan, but his application is rejected.
What action can Gabriel take under the FCRA in response to his rejected loan application?
Retail Banking Compliance Training
This course is part of the Retail Banking Compliance Suite
The courses available are
- Fair Lending
- Introduction to the Office of Foreign Assets Control (OFAC)
- Introduction to Regulation Z and the Truth in Lending Act (TILA)
- Introduction to Regulation CC and the Expedited Funds Availability Act
- Introduction to Regulation E and the Electronic Funds Transfer Act
- Introduction to Regulation D: Reserve Requirements
- Introduction to Regulation DD and the Truth in Savings Act
For more details, click on the course names above.
Course Outline
- Identify the purpose of the FCRA
- Understand the key components of the Act
- Recognize the rights of the consumer
- Explain penalties for non-compliance under FCRA
Measuring Compliance Training Effectiveness
In this article, Thomas Fox, Compliance Evangelist based in Houston, TX, addresses the question, “What if you want to take your post-training analysis to a higher level and begin a more robust consideration of the effectiveness of compliance training?”
Insider Trading
Course Description
Many organisations have a large number of employees who could come into contact with confidential information that could affect the share price of a listed company.
Are all of your employees familiar with insider trading laws? A person does not need to be an employee of a stockbroker or merchant bank to be caught by these laws.
Many listed companies have a large number of employee shareholders. Those employees should know when they can trade in the company’s shares.
Who is this training for
This training is suitable for anyone who comes in contact with confidential information regarding the share price of a listed company, such as:
- personal assistants
- senior managers
- staff in mail rooms
- IT departments
Custom courses
We have two versions of this course available:
- Generic course
- Insider Trading for Financial Services Organisations
Course Outline
- Module 1: Introduction to insider trading
- Module 2: Who is an insider?
- Module 3:What is trading?
- Module 4: Trading in Your Companys Securities?
Foundation Member
Established in 2016, the RegTech Association is a collaboration of members, focused on developing best practice for the compliance sector.
