Course Modules

Module 1: Foundations of Ethics & Compliance Risk Assessment 

• Defining ethics and compliance risk: concepts, sources, and impact.
• The purpose and benefits of a systematic risk assessment.
• Regulatory expectations and international standards (e.g., ISO 31000, COSO ERM, DOJ Guidelines).
• Overview of the risk assessment process: identification, analysis, evaluation, treatment, monitoring.
• Role of risk appetite and tolerance in compliance.
• Case Study: Analyze a major corporate scandal (e.g., related to corruption, data breach, or fraud) and discuss how an effective risk assessment could have prevented or mitigated it.

Module 2: Planning and Scoping the Risk Assessment 

• Defining the scope and objectives of the risk assessment.
• Identifying key stakeholders and their involvement.
• Establishing the risk assessment methodology (qualitative vs. quantitative).
• Data collection strategies: surveys, interviews, workshops, document review.
• Building a risk assessment team and assigning roles.
• Hands-on Exercise: For a hypothetical organization, develop a detailed plan for an ethics and compliance risk assessment, including scope, objectives, and data collection methods.

Module 3: Risk Identification Tools and Techniques 

• Brainstorming and workshops for risk identification.
• Checklist and questionnaire-based assessments.
• Process mapping and flow charting to identify control weaknesses.
• Analyzing past incidents, audit findings, and regulatory enforcement actions.
• External risk scanning: regulatory changes, geopolitical events, industry trends.
• Hands-on Exercise: Conduct a risk identification workshop using a specific business process (e.g., sales, procurement) as a case study, listing potential ethics and compliance risks.

Module 4: Risk Analysis and Evaluation Methodologies 

• Assessing likelihood and impact of identified risks.
• Risk matrices and heat maps for visualization and prioritization.
• Scenario planning and stress testing for high-impact risks.
• Quantitative risk analysis: basic probability and financial impact estimation.
• Risk aggregation and understanding interconnected risks.
• Hands-on Exercise: Plot identified risks onto a risk matrix and prioritize them based on assessed likelihood and impact.

Module 5: Assessing Specific Compliance Risks - Anti-Bribery & Corruption 

• Deep dive into ABC risk assessment: third-party, geographical, transactional, and business model risks.
• Red flags of bribery and corruption.
• Due diligence requirements for third parties.
• Controls for gifts, hospitality, travel, and entertainment.
• Whistleblower risks related to ABC.
• Hands-on Exercise: Conduct a detailed ABC risk assessment for a hypothetical scenario involving international operations and third-party intermediaries.

Module 6: Assessing Specific Compliance Risks - Data Privacy & Cybersecurity 

• Key data privacy regulations (GDPR, CCPA, local laws).
• Identifying and mapping personal data flows.
• Assessing risks of data breaches, unauthorized access, and non-compliance.
• Cybersecurity risk assessment methodologies (e.g., NIST, ISO 27001).
• Controls for data protection and information security.
• Hands-on Exercise: Perform a simplified data privacy risk assessment for a hypothetical company handling customer data, identifying key risks and controls.

Module 7: Assessing Other Key Compliance Risks 

• Competition Law (Antitrust) risks: collusion, abuse of dominance.
• Sanctions and Export Controls risks.
• Environmental, Social, and Governance (ESG) risks.
• Insider Trading and Market Abuse risks.
• Health, Safety, and Environmental (HSE) compliance risks.
• Study Tour (Virtual/Video): A virtual tour or video presentation on a compliance risk management software platform, showcasing how different risk categories are managed.

Module 8: Risk Mitigation and Control Design

• Developing effective risk mitigation strategies.
• Designing preventative, detective, and corrective controls.
• Balancing control effectiveness with business efficiency.
• Role of policies, procedures, training, and technology in controls.
• Remediating identified control weaknesses.
• Hands-on Exercise: For identified high-priority risks, propose specific mitigation strategies and design new controls.

Module 9: Technology in Risk Assessment and Monitoring 

• Leveraging GRC (Governance, Risk, and Compliance) platforms for risk assessment.
• Data analytics for continuous risk monitoring: identifying patterns and anomalies.
• Artificial Intelligence (AI) and Machine Learning (ML) in risk prediction.
• Automation of risk reporting and dashboarding.
• Challenges and opportunities of RegTech for risk assessment.
• Hands-on Exercise: Explore a demo version of a GRC software or demonstrate how data analytics can be used to monitor specific risk indicators.

Module 10: Reporting, Integration, and Continuous Improvement 

• Communicating risk assessment findings to different audiences (Board, management, employees).
• Integrating risk assessment results into the overall compliance program.
• Linkage to internal audit planning and training needs.
• Monitoring changes in the risk landscape.
• Establishing a framework for continuous risk assessment and program improvement.
• Final Exercise: Participants develop a presentation for a hypothetical Board of Directors, summarizing the findings of an ethics and compliance risk assessment and proposing key recommendations for improvement.