Get equipped to take on your role as a Business Compliance Officer (BCO) with confidence through this hands-on course in Compliance Risk and Regulatory Awareness. Gain a solid foundation in compliance principles, MAS regulations, and practical tools to manage regulatory risks. This program provides a clear understanding of the BCO’s role in identifying, monitoring, and addressing compliance risks—while promoting ethical conduct and a strong compliance culture.

Overview

Compliance risk is a critical area for Business Compliance Officers (BCOs), who serve as the first line of defense in managing regulatory obligations. This intensive course equips participants with a strong foundation in compliance risk and the regulatory landscape, along with practical tools for identifying, mapping, and monitoring risks in business processes.

 On completion of the course, you will be able to:

• Gain an understanding of key compliance risks, MAS regulations, and the role of BCOs;
• Apply risk identification and monitoring techniques using real-world scenarios;
• Promote ethical conduct and strengthen compliance culture across business units.

Who should attend

All individuals who want to improve their compliance risk awareness and regulatory knowledge:

• Business Compliance Officers and regulatory support staff
• Professionals involved in AML, CDD, or compliance monitoring
• Managers and team leads seeking to embed compliance into operations

Methodology

The non-theoretical methodology which includes interactive discussions, case studies, and exercises to understand the concepts and their real-life application. As a policy, we limit the class size so that we can provide attention to each participant and ensure their objective is achieved. We request you to please bring your laptop with relevant compliance tools or Excel installed to the class.

Trainer

All our trainers are carefully chosen by us and possess deep practical experience in regulatory compliance and risk. This course is conducted by a senior consultant with over 16 years of industry experience, specializing in AML/CFT, MAS regulations, and internal controls across banking and financial institutions.

Module – 1

Introduction to Compliance Risk and Its Relevance to BCOs.

• What is compliance risk and how it differs from other risks
• Real-world impacts: legal, reputational, and financial consequences
• Types of compliance risk (regulatory, operational, AML/KYC, data privacy)
• Risk appetite and tolerance: what BCOs should know
• BCOs as the first line of defense in identifying and managing compliance risk

Module – 2

Understanding the Regulatory Landscape for BCOs.

pics:

• Overview of MAS regulations: MAS (AML/CFT), FAA, SFA, TRM
• Other relevant frameworks: GDPR, PDPA, ISO 
• Business unit obligations under MAS Notices and Guidelines

• How regulations impact business decisions and day-to-day operations
• Staying updated: tools and methods to track regulatory change

Module – 3

 Identifying and Mapping Compliance Risks.

• Techniques to identify regulatory risk exposures
• Tools: risk heat maps, compliance matrices, self-assessment checklists
• Mapping risks to controls and processes
• Examples from transaction processing, client onboarding, and reporting
• Linking identified risks to relevant policies or regulations

     Module – 4

 Role of the BCO in Compliance Monitoring and Control Activities.

• Core duties: monitoring controls, reporting breaches, training teams
• Preventive and detective control examples relevant to BCOs
• Ensuring control effectiveness: documentation and walkthroughs
• Escalation protocols and thresholds for reporting breaches
• Supporting internal audit and compliance reviews

Module – 5

 Customer Due Diligence (CDD) and Transaction Monitoring Essentials.

• Basics of CDD: identity verification, beneficial ownership, risk profiling
• Enhanced Due Diligence (EDD) for high-risk clients
• Ongoing monitoring and periodic reviews
• Introduction to transaction monitoring: what to flag and why
• Role of BCOs in ensuring frontline staff adhere to AML procedures

Module – 6

 Promoting Compliance Culture and Ethical Conduct.

• “Tone at the top” and its influence on daily operations
• Embedding compliance into KPIs and team values
• Training and awareness campaigns: best practices for BCOs
• Encouraging a speak-up culture and safe reporting channels

Module – 7

Practical Case Studies and Group Exercises.

• Interactive scenarios:
  • A gift offer during procurement
  • Skipping approval due to urgency
  • Handling a customer data breach
• Group discussions on root causes and corrective actions
• Identification of missed compliance controls
• Peer reflections and short assessments for knowledge retention

Module – 8                                               

Aligning Compliance with Strategic Business Objectives.

• Aligning compliance with risk management and corporate strategy
• The cost of non-compliance vs. investment in preventive controls
• Compliance as a competitive advantage (e.g., client trust, regulatory reputation)
• BCOs as business enablers—not blockers
• Final reflections: balancing risk-taking with regulatory boundaries