The Compliance Files

Season 3: Episode 10 - The Impact of Regulation on Marketing and Advertising in Financial Services

In this episode, host Kathy Jacobs is joined by Aidan Power, Director of Brand and Marketing at KBC Bank in Ireland, to discuss the impact of regulation on marketing and advertising in financial services. As the first point of contact for customers, advertising has become subject to more complex regulation over the years, making compliance a key concern for the industry. Aidan shares his experience navigating these challenges, and how he works to create a differentiated offering and alternative challenger brand in banking. Tune in to learn about the complexity of regulation in marketing, and how it's driving change in the financial services industry.

Season 3 - Episode 9: Consumer Protection Regulation - Part 2

In the second episode of the Consumer Protection Regulation podcast with Nora Beausang, Nora talks to Kathy Jacobs about the high-level statutory protections applying to lending to consumers in Ireland under both domestic and EU rules.

Season 3 - Episode 8: Consumer Protection Regulation - Part 1

Protecting consumers is at the heart of the Central Bank of Ireland’s mandate. Their role is to ensure that the best interests of consumers are protected while enhancing confidence and trust in the financial system through effective regulation of financial service providers and markets. In a two-part series, we talk to Nora Beausang, solicitor and the author of ‘Consumer and SME Credit Law’ published by Bloomsbury Professional, about consumer protection issues applying to financial services business in Ireland, with a particular focus on lending (cash loans).

 

In the first episode, Nora addresses the role of the Central Bank as conduct regulator, the different categories of lenders (cash loans), the beneficiaries of lending-related consumer protection rules and the thorny issue of the interpretation of ‘consumer’ under those rules. The second episode will deal with the high-level statutory protections applying to lending to consumers in Ireland under both domestic and EU rules.

Season 3 - Episode 7: What is Lifelong Learning and why is it important?

Lifelong learning is broadly defined as the ongoing, voluntary, and self-motivated pursuit of knowledge for either personal or professional reasons. Lifelong learning is about developing your full potential, and will provide you with the possibility of discovery, skills and rewards, both professionally and personally. Developing an attitude of continuous learning is one of the best ways to prosper in today's evolving world.
To understand the importance of upskilling, reskilling and continuous learning, we spoke to Evelyn Cregan, Company Secretary, Director of Executive Education in the IOB and a Lifelong Learner herself.

Season 3 - Episode 6: Approaching deadline for transitioning to the new EU Standard Contractual Clauses (SCCs)

On 4^th June 2021, the European Commission published a decision in respect of a new set of modernised standard contractual clauses ("EU SCCs") for compliance purposes with the EU General Data Protection Regulation ("GDPR"), taking into account the decision from the Court of Justice of the European Union ("CJEU") published on 16^th July 20202 in connection with the EU-US Privacy Shield and the old standard contractual clauses ("Old SCCs") ("Schrems II Decision"). From 27th December 2022, where you rely on standard contractual clauses as a transfer mechanism, the New SCCs must be used. From this date, the original standard contractual clauses will no longer be an appropriate safeguard under Article 46 of GDPR.

In this episode of the Compliance Files, Steven Roberts, vice chair of the Compliance Institute’s Data Protection & Information Security (DP&IS) Working Group talks to Flavien Corolleur, Senior Legal Counsel/Director and Data Protection Officer at SS&C Financial Services (Ireland) Limited and a member of the DP&IS Working Group on International Data Transfers and Standard Contractual Clauses, and what is required prior to the deadline of the 27th December. Flavien provides updates on his article in the summer edition of the ICQ and practical matters to consider.

https://d15k2d11r6t6rl.cloudfront.net/public/users/Integrators/BeeProAgency/652846_635112/ICQ_Summer22_WebVersion.pdf

Season 3 Episode 5: Data Protection

At the end of February 2022, Commissioner for Data Protection, Helen Dixon, launched the Irish Data Protection Commission’s Annual Report for 2021. At the launch of the report Ms Dixon commented: “2021 has been a year of strong regulatory results from the DPC, in which it delivered impactful and far-reaching outcomes for the protection of individuals’ personal data. The GDPR is a strong framework law that demands accountability, fairness and transparency from all organisations that process personal data. It is clear that “data controllers” in Ireland continue to improve their compliance efforts, but higher standards of responsiveness to individuals seeking to exercise their rights are still needed in many sectors. The DPC will continue to target enforcement actions aimed at driving those necessary improvements, in addition to publishing decisions and case studies on its website to guide data controllers in the application of the GDPR. Operationalising the aims of the GDPR is an important work-in-progress for all of us and must continue.”

 

Steven Roberts, vice chair of the Compliance Institute’s Data Protection & Information Security Working Group talks to Graham Doyle, Deputy Commissioner and Head of Corporate Affairs, Media and Communications with the DPC about implementing the DPC’s 2022-2027 Regulatory Strategy, engaging with other Data Protection Authorities, developments around International Data Transfers, processing children’s data plus, policies and fines.

Season 3 - Episode 4: The Career Landscape in Compliance

If you are looking for some direction in your career, considering a change, are a recent graduate starting out or just want to see what the career landscape in compliance looks like, this podcast will be a real inspiration to you. The latest employment outlook survey from ManpowerGroup, which is based on responses from more than 400 employers across Ireland, found that employers in banking, finance, and insurance plan to expand their headcount by 32%. In the fourth episode of the Compliance Files Robert Farrell, a member of the Compliance Institute Council, a Digital Transformation lecturer, trainer and speaker talks to Dearbhla Bayle, Head of Compliance, Corporate Banking & Markets at Bank of Ireland and Greg Rimell Financial Services Advisory Manager at Grant Thornton Ireland about their career journeys, the benefits of a compliance career, the challenges and opportunities for compliance professionals and what will the compliance function need for the future?

Season 3 - Episode 3: Career Management

What are your Career Anchors? The third episode of the Compliance Files podcast series is on the topic of Career Management and is hosted by Robert Farrell, a member of the Compliance Institute Council, a Digital Transformation lecturer, trainer and speaker. Our guest is Eimear Barry, a psychologist, lecturer and consultant on leadership and workplace wellbeing.

The goal of career management and planning is to produce the desired results for our careers that impact our lives in a positive way. Career management allows us to prepare and maintain a degree of control over the expected outcomes and means that you are the one who decides what you want to do in your professional life. In our professional lives, career management is necessary if we are to achieve our professional and personal goals.

Eimear offers insights into why does your Career Management matter? What are your career anchors? When to start your career plan and how to build it and how to find out what motivates you in your career. Eimear also recommends what steps to take if you are feeling stuck in your career.

Season 3 - Episode 2: Sustainable Finance & ESG

In the second episode of the third season of The Compliance Files, Kathy Jacobs, former Compliance Institute President speaks to Laura Wadding, a partner in Deloitte’s risk advisory practice, with over 25 year's experience in financial services.  

Laura leads the firm’s sustainability practice, helping firms to develop their ESG strategies, comply with applicable regulatory and reporting requirements, and to develop sustainable finance products and practices. She currently sits on the board of Chapter Zero Ireland and on the advisory council of the DCU Centre for Climate and Society.

Laura will be discussing the topics of what is ESG, what is Sustainability Finance and what do the financial sector need to do to achieve the climate targets of 2030 and 2050

Season 3 - Episode 1: Culture & Ethics

In the first episode of the third season of The Compliance Files, Kathy Jacobs, former Compliance Institute President, speaks to Dr Alan Kearns, Assistant Professor of Ethics at Dublin City University on the topic of Culture and Ethics.

The prevailing wisdom for the last number of decades has been that the objective of enterprises is the maximization of shareholder value and to make returns to shareholders. This, however, has not made for a reliable or even successful guide for behavior and decision making by boards and managers, and in the financial services context falls below the standard expected with the emergence of conduct risk.  In addition, the ESG agenda introduces extra complexity and a more ethical dimension to corporate decisions.

Dr Alan Kearns will be discussing the topics of ethics, business ethics and culture from the perspective of an academic, whose research and teaching is d