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UK EU MENA Time Zones
CPEs: 24
Instructor: Dennis Cox
Level: Intermediate
Tuition: £2,495.00
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NEW Risk in Payment Systems – the Impact of New Technologies SDIT024

Location: UK EU MENA Time Zones

First Date: Sep 26 - 28 2022

Duration: 3 x half-days

Programme Director: Dennis Cox FCSI FRISM FCA

All Dates & Locations
Venue Details

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.

All our 2022 Virtual and Live in-person Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

Need to certify the entire risk team, or train 1:1? Simply contact us for significant cost savings and dates to meet your specific needs.

"“Very well presented seminar! Have already recommended Mr. Cox to others as he presented the material in a clear and accessible way with a pleasant manner and was able to easily keep participants’ attention.”"
Senior Auditor, Commercial Bank, Cyprus
Agenda Highlights

Session 1: Risk and Governance
Session 2 : Clearing and Settlement and SWIFT
Session 3 : Mobile Financial Services
Session 4 : Newer Payment Types
Session 5 : Key Risk Areas in Faster Payments
Session 6 : Problem Areas
Session 7: Card Issues
Session 8 : Sanctions, OFAC and other regulatory requirements
Session 9 : International Payments
Session 10 : The Future of Payment

"“Good overview on payments systems and its main risks. It was important to make us reflect about how fast payments are changing over the world and how we must be prepared to audit its processes.”"
Senior Risk Manager, Global Bank, UK
Overview

Everyone is still talking about how payments are changing the way we are working. From faster payments through blockchain and cybercurrencies to changes at SWIFT and with card companies, much is changing as faster payments are provided to the marketplace.

This course looks at current developments and helps organisations to understand what is happening, enable them to consider their options, focusing on the risks that are likely to arise in practice including up-to-the-minute developments.

"The course was beneficial in expanding my knowledge of payment systems and risks. The tutor was very engaging. "
Federal Bank Examiner, USA
Who Should Attend

While the course is designed for Risk and Audit professionals, Internal Control, Operations and Payments executives within banks, our recent USA, UK, European delegates have also included those from payment firms, Federal and regional financial regulators and supervisors, software houses and law firms.

Additional Course Information

What Does It Cover?

Risk and Governance

  • The key risks of payments
  • Types of payments
  • The impact of faster payments on risk management
  • The changing environment
  • The role of cyber currencies
    • Bitcoin
    • Ethereum
  • How does Bitcoin work?
  • Other new payment types
  • Drivers and change
  • Does your Board see the issue?
  • How does this change banking?

Clearing and Settlement and SWIFT

  • Clearing and settlement.
  • Main operational issues
  • How clearing and settlement works with SWIFT
  • How SWIFT operates.
  • SWIFT audits
  • Controls in a SWIFT environment

Mobile Financial Services

  • Difference between mobile banking and mobile payments.
  • Risks of near proximity devices
  • Controls in an e commerce environment
  • The nature of the heightened risks
  • Systems resilience
  • Cyber security and testing
  • Enhanced requirements
  • Business continuity
  • Different mobile payment processing and security features.
  • Risk and mitigating controls for mobile financial services.

Newer Payment Types & Card Issues

  • Block chain
  • Virtual currencies
  • What does it mean to not be based on a fiat currency?
  • Risk issues with virtual currencies.
  • Faster payments initiatives internationally:
    • Visa
    • Mastercard
    • Other faster payments initiatives
  • Risks factors involving faster payments
  • Evolving regulation
  • Distributed ledger technology (and similar technology) as they relate to payments processes

Key Risk Areas in Faster Payments

  • What controls should management have implemented?
  • What documentation should the financial institution maintain?
  • What are the concerns regarding an ODFI’s customers, including risk and mitigating controls?
  • The risks of Third Party Payment Processors
  • The risks of Third Party Senders
  • The risks resulting from Nested (layered) customer relationships

Problem Areas

  • Customer onboarding and artificial intelligence
  • Account takeover
  • Other fraud scenarios
  • Customer on boarding, ongoing monitoring and off boarding.
  • Board policies and dashboards/reports

International Payments

  • Payments in Europe
  • International payment transactions and new developments
  • Sanctions, OFAC and other regulatory requirements.
  • Other issues
  • The future
Learning Objectives

All delegates completing the course will receive a CPD accredited Certificate in the Risk of Payment Systems.

Led by a Tier 1 Global Bank banker and risk expert, delegates will explore the impact and the practical, real-life challenges of payment systems risks, implementing preparations and responses to changing technologies, customer behaviours and new opportunities.

Delegates will gain specialist technical and behavioural knowledge, skills and approaches as to controls, risks and options associated with

• Cybercurrencies and blockchain
• SWIFT, FEDWIRE & CHIPS
• Faster payments
• Nested customers
• Third party risks
• Zelle
• ODFI & RDFI
• Card Issues
• Same day ACH
• Third party risks
• International payments
• Cybersecurity of Interbank
Messaging
• Wholesale Banking Networks
• The Future

Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, group real-time in-depth case studies, regulation and discussion supported by key principles and theory.

The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes.

A calendar invitation via email with access link is included for all participants.

Registration

NEW Risk in Payment Systems – the Impact of New Technologies

Course Fee

Discounts available through Aug 31 2022 - Add RISK15 voucher at check out

Course Fee (per person):
GBP £2,495.00 (+ UK VAT when applicable)

Number of delegates:

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