The international Accounting Standard Board (IASB), published the complete version of IFRS 9, which replaced most of the guidance in IAS 39. IFRS 9 includes amended guidance for the classification and measurement of financial assets. It outlines recent developments in hedge accounting, as well as examines the principles contained in the expected loss from credit impairment. The course is packaged for professionals who have experienced operating with IAS 39 and wish to gain deep understanding of IFRS 9 implications for the design, management and reporting of hedging strategies.
Managing a multitude of internal and external risks is one of the most significant challenges facing organizations. Increasing transaction volumes, and the globalization of business, extended reliance on technology, have introduced higher complexity and uncertainty to banks. To maintain competitive advantage and improve overall performance, it is pertinent that banks understand and proactively manage the risks that can impact their business. Therefore, it is essential that banks define the relationship between operational risk processes and the overall control environment.
Developments in the global financial system have necessitated that regulators of financial institutions became proactive and look for innovative ways of preventing systematic distress in the financial services sector. One of such measures by regulators is conducting a critical assessment of business activities, as well as institutionalisation of appropriate structures for early identification, measurement, ongoing management and prevention of risks. This proactive process, that is beyond the compliance-based approach and promotes the maintenance of efficient, fair, safe and stable financial system, is the core mandate of the supervisory authorities in the financial services sector. The workshop has been designed to enable the regulators and operators enhance their knowledge of risk-based supervision.
Balancing liquidity and profitability is a major challenge for all corporate organizations. To cope with this challenge, companies must have highly skilled and talented treasurers, with the capacity to take optimal treasury decisions in a timely, professional and transparent manner. This course is designed to assist treasurers acquire modern techniques for effective treasury management.
As institutions seek to create value, they are faced with significant risks. These risks if not well managed, can adversely impact effective service delivery, continued profitability, and corporate sustainability. In the Nigerian Financial Services industry, inability to effectively manage these risks in a holistic and proactive manner rather than in silos has resulted in the liquidation of some institutions. Therefore, this course seeks to enable participants to develop a process to continuously identify a risk and risk-event universe; create a risk profile that includes a defined risk tolerance, quantification and prioritization of risk events and identification of current controls; establish risk responses that include accepting, sharing reducing or avoiding risks and implementing controls and procedures; and monitor/report process that includes creation of key risk indicators (KRIs).
Increasing global integration of financial activities, emergence of new financial products and increased level of competition have necessitated the existence of effective and structured risk management in financial institutions. Therefore, an organisation’s ability to measure and comprehensively manage risks is becoming a decisive parameter for its strategic positioning and sustainability. In dealing with this critical issue of risk management in all its dimensions, FITC has designed a workshop for all stakeholders in the financial services sector. The workshop provides a unique opportunity for all stakeholders to discuss and chart the way forward on this important subject, within the context of Basel II and III provisions.
For an audit exercise to fulfil its purpose, the report emanating from the process must be written using a format that is easily understandable and actionable. Such report must be the right tone for diverse readers and address the needs of multiple audiences. Thus, effective reporting is an essential aspect of the audit process. Therefore, organizations should continually upscale the skill sets and competencies of its audit and other related functional staff in writing good audit reports that can facilitate effective decision making within their organization.
The management of employees' performance, is one of the most critical roles that people in leadership roles must perform. Therefore, it is important for officers charged with the responsibility of leading teams, to be adept at employee performance management practices that keep employees motivated, and inspired for higher performance while focusing on attaining organizational goals.
In recent times, the world has experienced a phenomenal growth of financial services and activities. This growth has led to increased cross border activities, with enhanced global financial intermediation. Unfortunately, this development has been accompanied by a spate of transnationally-organized crimes, including Money Laundering and Terrorist Financing (ML/TF). Given the potential negative impact of AML/CFT infractions on the socioeconomic development of any economy, financial institutions are known to have significant roles to play in complying with these regulations and in developing appropriate mechanisms to tackle this menace, minimise negative impact, and restore confidence in the system. Also, best practice requires that financial institutions undergo periodic self-assessments of their compliance status to the AML/CFT regulations, in line with statutory guidelines and requirements, to bridge identified gaps, address inherent challenges, and avert likely consequences and sanctions. In furtherance to this and ensure compliance to statutory guidelines, organizations must understand these statutory requirements and upscale their institutional capacities to effectively and efficiently monitor and manage likely impact of non-compliance for a strong viable financial system, unsusceptible to internal and external threats.
ending is the principal activity of most financial institutions. The loan Lportfolio is typically the largest asset and the predominate source of revenue. As such, it is one of the greatest source of risk to a financial institution's safety and soundness. Whether due to lax credit standard, poor portfolio risk management, or weakness in the economy, loan portfolio problem has historically been the major cause of bank losses and failure. Given the increasing magnitude of non-performing assets of Nigerian Financial Institutions and the implication of such assets on their net worth, this course is designed to enhance the analytical skills and the decision-making capabilities of managers charged with responsibility for managing risk assets.
With the establishment of the Asset Management Company of Nigeria (AMCON), banks have been able to trade-off their toxic assets. This development has ensured that banks are able to finance significant big ticket projects via syndicated lending especially. To spread the risks associated with these kind of transactions, banks and borrowers alike, must be fully conversant with the techniques of syndicated lending, for effective loan request, as well as administration.