The Compliance Files

Season 4: Episode 2 - Digital Operational Resilience Act (DORA) Part 2

Operational Resilience is placing obligations on firms to be prepared for disruptive events in order to recover quickly and reduce harm to customers and the market.  In this episode of the Compliance Files Podcast series, host Kathy Jacobs, former President of Compliance Institute speaks with Will Finn, Senior Manager, fscom on the topic of Operational Resilience. Will outlines why regulators are focusing on Operational Resilience now and gives advice on what Financial Services firms have to do and describes and takes us through the steps of what an Operational Resilience programme is.

Season 4: Episode 1 - Digital Operational Resilience Act (DORA) Part 1

In today’s episode, Kathy Jacobs, former President of Compliance Institute speaks with Chris Martin, Of Counsel, Financial Regulation and Compliance, A&L Goodbody and Chair of Compliance Institute’s Central Steering Committee on the topic of DORA and Chris gives us an understanding about the regulatory framework around operational and IT resilience.

Chris outlines the backdrop to regulating for IT and operational resilience and provides an overview of how has the regulation developed and sets out the current legal framework. Chris also advises if the Central Bank has conducted any inspections or other regulatory or supervisory interventions and what have we learnt from enforcement action in this area. Chris takes us through the are the sanctions at the regulators disposal and also looks to the future and what developments can we expect from in the short - medium term.

Season 3: Episode 20 - Individual Accountability Framework (IAF)

In today’s episode of the Compliance Files podcast series, the Institute’s President, Diarmuid Whyte speaks with Louise Hogan, member of the Institute's IAF and Fintech and Payments working groups and Sarah Geraghty, member of the Institute’s IAF and Pensions working groups to discuss the Individual Accountability Framework (IAF) in general terms whilst also touching on some of the key aspects of the Compliance Institute’s response to the IAF Consultation Paper.

In this podcast they outline the benefits of IAF and provide their thoughts on whether it will lead to a positive cultural change. They also outline the steps firms should be taking now, identify potential challenges associated with IAF implementation and advise how we can demonstrate clarity over responsibilities.

Season 3: Episode 19 - GDPR 5th Year Anniversary

To mark the 5^th Year anniversary of the implementation of GDPR, Steven Roberts, Vice-Chair of the Compliance Institute’s Data Protection & Information Security Working Group speaks with MB Donnelly, Deputy Commissioner at the Irish Data Protection Commission, as Head of Strategy, Finance, Governance to discuss GDPR from it’s initial implementation to today and what is next for GDPR.

In this episode, MB discusses the main benefits of GDPR and her view as to whether companies’ approach to GDPR has changed over the last five years. MB also provides insights into the DPC’s own supervisory approach, the DPC’s Regulatory strategy and outlines some of the key changes within the DPC over the last five years. MB also offers insights into how she see’s Regulation evolving over the next five years.

Season 3: Episode 18 - Procurement

In this episode, host Kathy Jacobs speaks with Rachel Dolan, Head of Procurement and Supplier Relationship Management, Permanent TSB.

Rachel describes the value add of procurement and how procurement supports organisations to achieve its strategic objectives. Rachel highlights the importance of an effective relationship between Procurement and Compliance teams.

Rachel also discusses what role procurement will play in ensuring organisations successfully achieve their ESG objectives and discusses upcoming developments over the short and medium term for procurement and regulation.

Season 3: Episode 17 - The Importance of Networking

In this episode, host Kathy Jacobs speaks with Fiona Flynn, Founder of Montauk Consulting and President, PWN Dublin on the topic of the Importance of Networking.

Fiona discusses why networking is important to your career development and success, examines if networking is a talent or skill, and how you can become an effective networker. Fiona also gives advice on how to go about building and growing a strong personal network and examines how leaders utilise their networks. Fiona also gives her top tips on networking.

Season 3: Episode 16 - Anti-Money Laundering (AML) Insights

In this episode, host Kathy Jacobs speaks with Niall Esler, Partner and Head of the Regulatory Group, Walkers and Shane Martin, Partner and Regulatory Compliance & Data Privacy Lawyer of Walkers on the topic of Anti-Money Laundering (AML).

During this episode Niall and Shane provide insights relating to governance and examine the challenges for firms when outsourcing elements of their AML functions. They also outline how firms approach to business risk assessments has evolved in recent years. Niall and Shane discuss some of the key recent and upcoming developments in AML including the introduction of AMLA, and what sort of impact that we might see with the introduction of AMLA as regards supervision of firms, the single rule- book and trends in enforcement.

Season 3: Episode 15 - Culture

A key role of the Irish Banking Culture Board (IBCB) is to measure progress and cultural change in their member banks. Their goal is to act as transformative influence on culture within the banking sector. In this episode, we speak with Marion Kelly, CEO of the IBCB on the importance of Culture in the Financial Services industry.  

Tune in to hear Marion's insights on what culture means in the context of Financial Services, the challenges of driving cultural change, and the role of the Irish Banking Culture Board in promoting positive cultural practices within the industry. Marian also examines the impact of the Individual Accountability Regime on culture within Financial Services and outlines where culture fits within the ESG agenda.

Season 3: Episode 14 - Central Bank’s 2023 Priorities

In this episode the Central Bank of Ireland Deputy Governor, Sharon Donnery provides valuable insights into the Central Bank’s 2023 priorities. Sharon reflects on how the Central Bank’s and industry’s responses in the last number of years has positioned us as we face the new challenges of 2023 and outlines the challenges that leaders in Financial Services face in charting a course through the uncertainty and complexity of the global economic outlook.

 

Sharon also elaborates on the six principles of the Central Bank’s regulation in order to support positive outcomes and outlines the main challenges that the Central Bank faces when dealing with innovative firms looking to establish here. Plus, gives an overview of what the Central Bank expects firms to be doing now, to address their climate risk exposure.

 

Following, the enactment of the IAF Bill 2022 on 9th March, and the Central Bank launching on 13th March its three-month consultation on key aspects of implementation of the IAF, Sharon outlines the Central Banks hopes for how the Individual Accountability Regime will improve standards in Financial Services firms.

Season 3: Episode 13 - Conduct and Culture

Creating an effective culture will help to drive behaviour, build customer and investor trust, and support operational excellence and growth; having the right culture is essential for achieving good conduct performance.

In this episode, we are joined by two experts in the field of compliance and conduct risk, Mark Satterthwaite, Chief Compliance Officer at Citibank Europe and Paul Quinlan, EMEA Head of Conduct Risk ICRM at Citibank Europe to discuss the topic of Conduct and Culture.

We explore the importance of conduct and culture, the challenges and opportunities of defining and implementing good conduct and culture practices within organisations. We examine how to measure if conduct and culture is working within an organisation and to what extent has the regulatory focus shifted from conduct and culture.