Welcome to the July edition of the ACOI’s newsletter in which you will find updates on all our ongoing work, including important information on our education programmes, membership renewal and the summer edition of our ICQ Magazine (Irish Compliance Quarterly) which was released last week.
As always, be sure to connect with us on LinkedIn, Twitter and Instagram to stay up to date with our news, events and developments as well as keeping an eye on our website, acoi.ie.
This month, we released the results of our latest COVID-19 and the Workplace Survey, which found that 80% of organisations are predicting widespread reluctance from their employees returning to the office and that only 4% are expecting a full return to the office. Of those surveyed, 81% are forecasting that a hybrid model of working will replace the traditional office-based model. The results of this survey received widespread press coverage including the Irish Examiner and RTE.ie. For more, click here.
ACOI CEO, Michael Kavanagh also discussed these results on various radio stations throughout the past week. To listen back, click here.
The same survey found that 90% of Irish businesses have called for guidance on the collection of employee vaccination data and that 94% of organisations do not have a vaccination strategy in place as the country’s vaccine rollout continues and restrictions begin to lift. These findings similarly garnered media attention, including the Irish Times. For more, click here.
Also this month, we were approached by the Irish Times for comment on the HSE’s future plans for digital innovation following the recent highly publicised cyber-attack that “brought the HSE to its knees”. In a comment from Michael Kavanagh, he advised the HSE to be cautious and cited a recent ACOI survey in which 31% of respondents said cyber-attacks were their biggest concern of remote working. To read more, click here.
ACOI Education Programmes Update:
Professional Certificate & Diploma in Compliance
Well done to all our members who passed their PDC exams!
Registration is now open for the Professional Certificate & Diploma in Compliance (PDC 1 - 4), delivered by the iob and awarded by UCD. A level 7 qualification on the NFQ, this programme is the industry benchmark professional designation for practising compliance professionals.
The semester commenced on 7th June 2021 and the closing date for registration is 9th July.
The MSc in Compliance, a level 9 qualification on the NFQ and awarded by UCD commences in September. This programme has been designed in consultation with leading industry experts in the areas of compliance and ethics and provides Compliance professionals with the knowledge and skills they need to implement effective compliance structures and enhance the overall internal governance structures of an organisations.
To find out more about the MSc and how it can benefit your career join us on Thursday 19th August. For more information click here or email Evelyn on [email protected]
Diploma in Fintech Risk & Compliance
As announce last week, the Diploma in Fintech Risk & Compliance delivered by Professional Accountancy Training (PAT) and awarded by TU-Dublin, is a level 7 qualification on the NFQ.
The diploma addresses the demands of current compliance and regulatory professionals, of varying levels of experience and seniority plus, offers the opportunity to a wide variety of candidates to reskill/retrain for careers in the financial services industry. The programme has also received Springboard+ funding! For more details, click here
Diploma in Anti-Money Laundering in a Fintech Environment
Professional Accountancy Training (PAT) in partnership with the ACOI are also proud to announce the validation of the Diploma in Anti-Money Laundering in a Fintech Environment, a level 8 programme on the NFQ and awarded by TU-Dublin.
This programme has IFS Skillnet funding available, the IFS Skillnet price is €2,310, for more details please click here
Professional Certificate in Leadership with Griffith College
Congratulations to all ACOI members in completing the Certificate in Leadership Skills programme!
The next programme will commence in September and will be delivered online. This programme is delivered over 8 weeks, with a 3-hour session each week. It is aimed at new or experienced managers, supervisors and team leaders who want to learn how to improve their leadership and influencing skills. If you have any queries regarding this programme please contact Ciara on [email protected]
Further details on all our educational programmes commencing in September can be found in the Summer edition of the ICQ.
The Compliance Files Podcast Series
Since May 2018, Data Protection Supervisory Authorities have been using the GDPR administrative sanctions regime to ensure compliance with the Regulation. In this week’s episode of the Compliance Files podcast series, ACOI President Kathy Jacobs, spoke to Fiona Savary and Rene Sandor of CMS in Munich about the GDPR Enforcement Tracker they developed and the trends emerging from enforcement decisions and actions across the EU and what data controllers and processors' significant risks are.
The Compliance Files’ podcast series is available on all podcast platforms including iTunes, Spotify and Google Podcasts. If you enjoy listening to the Compliance Files, please show your support by rating and reviewing on your podcast platform.
A reminder of the IOB’s new accreditation process: Our CPD administrator, the iob have made changes to their accreditation of external events process. The iob receives many accreditation requests from members in November and December each year. This can cause delays to our members receiving their accreditations.
To help provide a better overall experience the iob are introducing the following changes:
- All applications must be made before or within three months of the date the event was held (excluding events held in January 2021 where they will allow five months). Therefore, if you attended an event in March, you have until the end of June to submit your accreditation request.
- Only events that take place in December will be reviewed in December, so events in October and November must be submitted by 30 November.
A full list of our CPD Codes can be accessed on our website.
Our 2021/22 Membership Year commences on 1 August.
Payment of your annual subscription can be made on/after this date and the online payment option will remain open until the end of October 2021. Further information on renewing membership will be sent to you in the coming weeks. We are pleased to confirm that the current membership subscription fee remains unchanged from previous years.
Feedback to Data Protection Commission (DPC)
We would like to thank all those members who provided their feedback on the DPC’s draft Regulatory Strategy and also thank our Data Protection and Information Security Working Group who drafted the ACOI submission on behalf of ACOI members.
The submission is now available for ACOI members to view.
ACOI have recently joined ENFCO (European Network for Compliance Officers), a network of not-for-profit associations for in-house compliance professionals across Europe. The organisation facilitates the cooperation and communication between the participating associations and their incorporated professionals in the best spirit of a European community.
In conjunction with ENFCO we have designed 2 Europe-wide questionnaires 1) to understand the roles and competencies of compliance professionals and 2) to give you an opportunity to express your opinion on the appropriate application of the EU’s Whistleblowers’ Protection Directive.
We would appreciate you taking the time to complete the questionnaires, closing date is 30th August. The results will be evaluated and shared with you in Q4.
We are delighted to confirm that the summer issue of the ICQ magazine has been published.
This issue includes great content on a wide range of topics including; new standard contractual clauses and practical considerations for financial institutions; client assets and the evolving regulatory environment; ethics; fintech 2021 - opportunities for risk and compliance professionals; a new horizon tracker in association with Matheson which provides a snapshot of current, upcoming and proposed legislative and regulatory developments and much more.
ICQ Autumn Issue - Appointments
We recently introduced a new ‘Appointments’ section to our ICQ magazine to promote members who have recently been appointed to new roles in their current organisations or have moved to other organisations. If you would like to have an appointment notice published in the Autumn issue of ICQ, please e-mail the relevant text and photograph to [email protected] before 12 August 2021. Please note text can be up to 150 words and images should be supplied in JPEG format. There is no charge for this service.
The Central Bank of Ireland - updated Anti-Money Laundering/Countering the Financing of Terrorism Guidelines
On Wednesday 23 June, the Central Bank of Ireland published an update to their Anti-Money Laundering/Countering the Financing of Terrorism Guidelines. The Guidelines have been amended to reflect changes made to Irish law by the EU’s Fifth Anti-Money Laundering Directive. They have also updated their guidance on internal governance requirements, de-risking and data protection.
Central Bank of Ireland’s Fitness and Probity Interview Guide
The Central Bank of Ireland newly published Fitness and Probity Interview Guide provides an overview of the F&P interview process, what to expect on the day of the interview and what happens after an interview.
We celebrate the ACOI’s 20th anniversary next year and to help us mark this major milestone, we are asking our members, particularly longer serving members, to send us photographs you might have of past ACOI events or interesting stories and anecdotes from the ACOI’s history. We hope to feature this content in the ICQ magazine and in other promotional materials for the 20th anniversary next year. Please send any content you may have to [email protected] with ‘ACOI 2022’ in the subject line. Thank you.
As always, we would like to thank you for your ongoing support and ACOI membership.
If you have any ideas on how we can further support those working in the compliance industry, or if there is a topic you would like to see covered in our podcast series or through an upcoming webinar, please send us an email on [email protected] and we will do our best to make it happen.
Association of Compliance Officers in Ireland | 5 Fitzwilliam Square | Dublin 2 | Ireland | T: +353 1 779 0200 | E: [email protected]