MODULE DESCRIPTOR
COMPGF03– Compliance, Risk and Regulation
Code:
Alt. Codes(s)
Title:
Level:
UCL credits/ECTS
Start:
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Taught by:
COMPGF03
none
Compliance, Risk and Regulation
M
15/6
January
June
Donald Lawrence module coordinator)
industry practitioners
Prerequisites
It is highly recommended that students take COMPGS06 Financial Institutions and Markets (or its
equivalent) in term 1. Successful completion of Introduction to Securities and Investment run by the
Chartered Institute for Securities and Investment is also a suitable prerequisite.
Course Aims and Objectives
Aims
The module aims to familiarise students with what compliance departments do and why they have
become a major topic in financial centres and the current and future roles of IT.
Objectives
Students will be able to understand the key functions of Compliance, Risk and Regulation departments,
how they are likely to change in a more rules based environment, and what IT solutions might be
employed.
Method of Instruction
30 hours of lectures, 5 hours of industry guest speakers
Assessment
The course has the following assessment components:
•
Written Examination (2.5 hours, 70%)
•
Coursework Section (3 pieces, 30%)
To pass this course, students must:
• Obtain an overall pass mark of 50% for all sections combined
The examination rubric is:
TBC
Resources
Crouhy/ Galai/ Mark, ‘The Essentials of Risk Management’, McGraw Hill 2006.
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Content
1. Foundations of the compliance environment
•
Present the foundations of the compliance environment in a financial institution or financial
department of a firm.
•
Examine what accounting and legal governance consider best practice, and what key functional
roles are carried out, and the role of IT in these functions.
2. Market, credit and operational risk.
•
Examine the definitions, the key organisational rules, reporting structure, the best practice types
of calculations, the regulatory requirements.
3. Organisations
•
Major regulatory organisations in the US, UK, EU and Japan, their individual responsibilities,
overlapping coverage, and what might slip through that overlap structure.
•
What are regulators trying to do as the ratings agencies are accused of allowing the current
collapse to occur?
1
Learning Outcomes for COMPGF03 Compliance, Risk and Regulation
General Learning Outcomes
Ability to develop, monitor & update a plan, to reflect a changing operating environment
N/A
Ability to monitor and adjust a personal program of work on an on-going basis, and to learn
independently
Students are expected to manage their program of study, learn independently in order to produce
three written coursework assignments to given deadlines.
The ability to exercise initiative and personal responsibility, which may be as a team member or
leader
N/A
The ability to learn new theories, concepts and methods etc and apply these in unfamiliar
situations
Normal learning situation common to all degree programs
Specific Learning Outcomes
Underpinning science & Mathematics
A comprehensive understanding of the relevant scientific principles of the specialisation
N/A.
A critical awareness of current problems and/or new insights much of which is at, or informed by,
the forefront of the specialisation.
N/A.
An understanding of concepts relevant to the discipline, some from outside engineering, and the
ability to critically evaluate and apply them effectively.
Students are expected to develop an understanding of compliance, regulation and risk management
concepts and learn how to apply them through coursework assignments.
1
EAB website http://www.engab.org.uk/documentation document Accreditation Of Masters Degrees Other Than MEng last
accessed 10 Aril 2012
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Engineering Analysis
Ability to use fundamental knowledge to investigate new and emerging technologies
N/A
Ability to apply appropriate models for solving problems in engineering and the ability to assess
the limitations of particular cases;
N/A
The ability to collect and analyse research data and use appropriate engineering tools to tackle
unfamiliar problems, such as those with uncertain or incomplete data or specifications, by the
appropriate innovation, use or adaptation of engineering analytical methods.
N/A
Design
The ability to apply original thought to the development of practical solutions for products,
systems, components or processes
N/A
Economic, Social and Environmental Context
Knowledge and understanding of management and business practices, and their limitations, and
how these may be applied appropriately, in the context of the particular specialisation
The course provides the students with knowledge and understanding of the compliance and
regulatory frameworks of financial institutions and accounting and legal governance best practises
and gives them the opportunity to apply this knowledge through written assignments.
The ability to make general evaluations of risks through some understanding of the basis of such
risks
The students are expected to develop an understanding of market, credit and operation risks
involved in financial institutions and be able to apply best practise calculations to evaluate these
risks.
Engineering Practice
A thorough understanding of current practice and its limitations, and some appreciation of likely
new developments
N/A
Advanced level knowledge and understanding of a wide range of engineering materials and
components
N/A
The ability to apply engineering techniques taking account of a range of commercial and industrial
constraints
N/A
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