EXECUTIVE CERTIFICATE IN COMPLIANCE (INSURANCE)

Awarded by the Singapore College of Insurance

Module 1 - Industry and Regulatory Knowledge7 & 8 November 2018, 9.00 am to 5.00 pm, Singapore College of Insurance

Module 2 - Insurance Products and Related Prudential Rules (Life Insurance Track)9 & 13 November 2018, 9.00 am to 5.00 pm, Singapore College of Insurance

Module 2 - Insurance Products and Related Prudential Rules (General Insurance Track)9 & 14 November 2018, 9.00 am to 5.00 pm, Singapore College of Insurance

Module 3 - Managing Compliance Risks 15 & 16 November 2018, 9.00 am to 5.00 pm, Singapore College of Insurance

This course has been rescheduled from 4, 5, 10, 11, 12, 18, 19 July 2018 to 7, 8, 9, 13, 14, 15, 16 November 2018

(IBF Level 2)

This programme has been accredited by The Institute of Banking and Finance (IBF) under the IBF Standards

NURTURING ASIA’S BEST

Building A Talent Pipeline In Compliance (Insurance)

NEW

Executive Certificate In Compliance (Insurance)NEW

PROGRAMME HIGHLIGHTS This is a facilitated training & assessment programme leading to an Executive Certificate in Compliance (Insurance) awarded by Singapore College of Insurance (SCI). This programme is designed to enable compliance professionals working in insurance companies to acquire the necessary knowledge and practical skills to perform effectively in their compliance role and workplace. It is also suitable for those aspiring to work in a compliance position for insurance companies. Assessment methodologies comprise in-class activities Multiple Choice Questions (MCQs) and written assessment.

LEARNING OUTCOMESBy the end of this programme, candidates will be able to:• Acquire knowledge of pertinent regulatory requirements, insurance

industry and insurance products.• Find pertinent information to perform the duties of a Compliance Officer.• Understand the concepts of risk management.• Understand, identify and assess compliance issues.• Understand the importance of monitoring and reporting programme.• Effectively implement the compliance programme.

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FOR WHOMThis programme is recommended for: • Those compliance

professionals who wish to deepen their knowledge and technical skills in compliance.

• Those aspiring to work in a compliance position.

PROGRAMME MODULESMODULE 1: INDUSTRY AND REGULATORY KNOWLEDGE(7 & 8 Nov 2018)

Section A Industry Knowledge 1. Introduction 2. Overview of Financial System 3. Structure of the Insurance Sector

Section B Regulatory and Supervisory Regimes 1. Regulations vs Supervision 2. Principle-based vs Rule-based Regulation 3. Prudential vs Market Conduct Supervision 4. Regulatory Structure in Singapore

Section C Role & Functions of Compliance 1. Introduction 2. Governance Structure & Expectations 3. Scope of Compliance 4. Infamous“ThreeLinesofDefense”

Analogy

Section D Analysis of Risks 1. DefinitionofRisks2. Compliance Risk 3. Other Risks 4. Business ethics

Section A Insurance Products 1. Introduction 2. Classification of Insurance Business 3. Five Principles of Insurance 4. Life Insurance5. Non-life Insurance6. Reinsurance and Captives

Section B Prudential Rules Applied to Insurance Business 1. Licensing2. Prudential requirements 3. Governance, Risk Management and Internal

Controls

Common for Both Life and General Insurance Tracks (9 Novmeber 2018)

Section C Market Conduct Rules Applied to Life Insurance Business1. General Principles2. Point-of-Sale Process3. DirectandOnlinePurchase

For Life Insurance Track (13 November 2018)Section D Key Compliance Vulnerabilities 1. AML/CFT2. Foreign Account Tax Compliance Act (FATCA)3. Common Reporting Standards (CRS)4. PolicyOwners’ProtectionSchemes5. Balanced Scorecard (BSC) Framework6. Common Abusive Market Conduct

•In-classactivity-Exercise

•In-classCompetency-basedAssessment(bymodule)

•In-classactivity-Exercise

•In-classCompetency-basedAssessment(bymodule)forLifeInsuranceTrack

MODULE 2: INSURANCE PRODUCTS AND RELATED PRUDENTIAL RULES (GENERAL INSURANCE OR LIFE INSURANCE TRACK)

•In-classactivity-Exercise

Section D Key Compliance Vulnerabilities 1. AML/CFT2. PolicyOwners’ProtectionSchemes3. Market Conduct

For General Insurance Track (14 November 2018)Section C Market Conduct Rules Applied to General Insurance Business 1. General Principles2. Pre-sale product design 3. Point-of-Sale Process4. Protecting Customers

•In-classactivity-Exercise

•In-classCompetency-basedAssessment(bymodule)forGeneralInsuranceTrack

DESIGNATORY LETTERS UPON ACHIEVING THE QUALIFICATION

PROGRAMME FEE(inclusive of 7% GST)

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Section B Regulatory and Supervisory Regimes 1. Regulations vs Supervision 2. Principle-based vs Rule-based Regulation 3. Prudential vs Market Conduct Supervision 4. Regulatory Structure in Singapore

PROGRAMME MODULES

MODULE 3: MANAGING COMPLIANCE RISKS (15 & 16 November 2018)

Upon successful completion of all the required modules, candidates will be eligible to use the following certification designation(s):• ExecCertSCI(Compliance-GI), upon completion of the General Insurance

Track;• ExecCert SCI (Compliance - LI), upon completion of the Life Insurance

Track; or• ExecCertSCI(Compliance-GI&LI), upon completion of both the General

and Life Insurance Tracks.

Life Insurance Track: S$4,494 per candidate

General Insurance Track: S$4,494 per candidate

Life and General Insurance Track: S$5,243 per candidate

Section A Compliance Risk Management1. Risk

Identification and Assessment

2. Risk Mitigation

Section B Designing A Compliance Programme1. Understanding the Key Elements in a Compliance

Programme2. Clarity of Roles and Responsibilities on

Compliance3. Understanding of Requirements4. DesigningaComplianceFramework

Section C Compliance Monitoring1. Overview–VulnerabilitiesinInsurance2. Compliance Monitoring Programme 3. Fit and Proper Guidelines4. Business Conduct (Staff) 5. AML/CFT/Sanctions6. Fraud Monitoring

Section D Building The Appropriate Compliance Culture1. Compliance Culture2. Practical Approach3. Education4. Engagement

LECTURERSMimi HoMimi is a qualified actuary and an expert in the regulation and supervision of insurance companies and capital markets participants. She also has extensive private sector experience in the pensions and insurance fields.

Mimi earned her Master’s in Mathematical Statisticsfrom the Columbia University in New York City, USA. She has been a qualified actuary with the Society of Actuaries (FSA) since 1983 and was admitted to the JointBoardofDepartmentofJusticeandDepartmentof Labour (USA) in 1985. She is fluent in English and Chinese (Mandarin and Shanghainese).

Adeline Koh Adeline currently works for QBE Insurance as its Head of Regulatory and Compliance for Asia Pacific.

Adeline has been with QBE since 2005. She also assumed previous responsibilities for Risk Management in the Regional Office when she started her career with QBE. Prior to joining QBE, she was with the Monetary Authority of Singapore (MAS) for over 20 years.

Adeline graduated with a Bachelor of Social Science (Hons) degree in Economics from the National University of Singapore. She is also a Fellow of the Chartered Insurance Institute, UK and a Certified Risk Professional Manager, ARiMI.

•In-classactivity-Exercise

•Casestudy-IdentifyPertinentComplianceIssues/ControlFailuresandRemediationofsuchFailures

•In-classCompetency-basedAssessment(bymodule)

Programme Fee FundingThis programme has been accredited under the IBF Standards, and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.

Candidates are advised to assess the suitability of the programme and its relevance to participants’business activities or job roles.

For Singapore Citizen or Permanent Resident

IBF-STS provides 70% funding for direct training costs subject to a cap of S$7,000 per candidate per programme subject to all eligibility criteria being met.

For Singapore Citizen

For all IBF-STS programmes commencing on or after 1 July 2016, Singapore Citizens aged 40 years old and above will be eligible for 90% co-funding of direct training costs, subject to existing grant caps of S$7,000 per programme.

The above funding scheme is eligible for company-sponsored or non-company sponsored participants, subject to all eligibility criteria being met.

Find out more on www.ibf.org.sg

QUALIFYING REQUIREMENTSCandidates must achieve the following qualifying requirements in order to obtain the Executive Certificate in Compliance (Insurance):• Achieve 100% attendance record of the lectures;• Achieve at least a 70% overall scoring;• Achieveatleasta“Competent”scoringforallPerformanceCriteria(PCs).

Administrative Information ForExecutive Certificate Programmes

© 2018 Singapore College of Insurance Limited (SCI). All Rights Reserved by SCI.

ABOUT SINGAPORE COLLEGE OF INSURANCEThe Singapore College of Insurance (SCI) is a not-for-profit professional training and education body set up in1974,aspartofSingapore’seffortstodevelopasafinancial hub.

The SCI was voted the Asia Insurance Industry Educational Service Provider of the Year in 1997, 2001, 2007 and 2016.

www.scicollege.org.sg

ABOUT IBF STANDARDSThe IBF Standards are a set of competency standards for financial skills. These Standards are developed in partnership with industry leaders and provide a professional development and skills roadmap for financial sector practitioners to excel in their respective job roles. They currently cover 12 industry segments in the financial sector.

ABOUT IBF LEVEL 2 PROGRAMMESA practitioner who successfully completes an IBF Level 2 Programme with at least 3 years of relevant experience will be conferred the IBF Advanced (IBFA) certification status. T&Cs apply. Find out more about IBF certification and its benefits at: bit.ly/whybeibfcertified

How to Register Registrations and payment should be made online at www.scicollege.org.sg.

Registration Details Beforeregistering,candidatesshouldrefertothe“ForWhom”section of the respective Programmes, to ensure that they meet the recommended experience and programme prerequisites. A good command of the English language is essential. SCI reserves the right to reject any candidates who does not meet the minimum entry requirements.

SCI reserves the right to make changes to the programme details owing to unforeseen circumstances.

Withdrawal / Postponement Policy Please refer to the SCI website at: https://www.scicollege.org.sg/docs/SCICourseFAQ.pdf for the respective programmes.

Other Programme Details For other programme details (where applicable), please refer to the SCI website at: https://www.scicollege.org.sg or contact us at talk2us@scidomain.org.sg

Contact Details Singapore College of Insurance Limited 9 Temasek Boulevard #14-01/02/03 Suntec Tower Two, Singapore 038989 General Enquiry: (+65) 6221 2336 Fax: (+65) 6220 6684 E-mail: talk2us@scidomain.org.sgWebsite:www.scicollege.org.sg

Singapore College of Insurance Limited CPE Registration No.: 199408491M Period of CPE Registration: From 26 September 2015 to 25 September 2019

Version2:26June2018