Central Bank Internal Audit - MIS Training

Global Leader inAudit, Risk, Fraud and Security TrainingCentral Bank Internal AuditRisk based auditing for central bankers and associatedregulatory bodiesLondon3 day course 29 November - 01 December 2010Course DirectorRobert McDonoughRob McDonough specializes in capital marketsand auditing/risk management consulting andtraining.“The best course to understand theCentral Bank internal audit”Director, Banco de Mocambique“It was educating and professionallybeneficial in content and delivery”Deputy Director, Central Bank ofNigeria“Excellent course, comprehensiveand very well structured”NATOEarn 22 CPE credits• How to audit Central Bank operations – e.g. payments, reserverequirements and covering operations• Understand the role of Central Banks and how the internal auditadd value• Benchmark internal audit frameworks• Implementing risk based auditing and ERM within Central Banks• Evaluation of the internal audit function in a Central BankMIS Training has been accredited by thě The highest and most recognisable standard for educational traininǧ UK Border Agency ApprovedSAVEUP TO 50%WITH IN HOUSETRAININGDetails insideEnquire or register todayWeb: mistieurope.com/training Email: training@mistieurope.com Tel: +44 (0)20 7779 8454

Central Bank Internal AuditRisk based auditing for central bankers and associatedregulatory bodiesLondon3 day course29 November - 01 December 2010Course DirectorRobert McDonoughCourse focus and featuresThe crises in global financial markets have in part been attributed to the lack of appropriateoversight of financial institutions by regulatory authorities. Central Banks and their affiliatedorganizations have frequently had a significant role in the oversight process. But how are theCentral Banks themselves evaluated? As with any organization, a robust internal risk assessmentand audit process is a critical success factor for Central Banks, especially in light of the manyroles that these unique organizations perform.In spite of their differences across nations or member states, Central Banks have many coreoperations that are broadly similar and require periodic internal assessments. These operationsinclude (but are not limited to):• Controlling monetary policy/the money supply and the official interest rate• Serving as the “Lender of Last Resort"• Managing the country's foreign exchange and gold reserves• Regulating and supervising the banking industry – regulatory and reserve requirements• Monitoring and facilitating payments and settlementsThis course will focus on two major areas:1) Best practices to support the development of effective internal audit and risk managementprocesses within Central Banks.2) Planning and conducting internal audits and risk assessments for Central Bank operations.Exercises and case studies will be used to supplement the course materials to emphasizepractical applications of the concepts covered in the course. A guided roundtable discussionwill also be facilitated at the end of the course to address specific concerns regarding CentralBank operations and to share experiences among attendees.Rob McDonough is the President and CEO ofStrategic Financial Solutions, Inc., a financialservices consultancy. He specializes in capitalmarkets and auditing/risk managementconsulting and training. He is also an instructorfor the Federal Deposit Insurance Corporation(FDIC), FINRA (formerly the NASD), the BankAdministration Institute (BAI), and the Institute ofInternal Auditors (IIA). He has delivered riskmanagement and auditing seminars andconsulting projects for financial institutions,central banks, and regulatory agencies across theU.S. as well as in Argentina, Azerbaijan, Bermuda,Canada, Croatia, Denmark, the Republic ofGeorgia, Hong Kong, India, Ireland, Jamaica,Jordan, Kuwait, Lebanon, Malaysia, Mexico,Morocco, the Netherlands, Poland, Russia,Singapore, South Africa, Trinidad and Tobago, theU.K., and Zimbabwe.Rob started his career with the Federal ReserveSystem as an economic analyst in the ResearchDivision and later became a CommissionedCapital Markets Examiner in Supervision andRegulation. He was with the Federal ReserveSystem for twelve years, primarily assessing thecondition of large complex domestic andinternational financial institutions, as well ascontributing to System policy development. Heevaluated and recommended risk managementsolutions to senior management to ensureadherence to regulatory standards and industrybest practices, as well as developing anddelivering formal training programs to Systemexaminers.After leaving the Federal Reserve System hejoined Accenture as a senior manager, where heprovided capital markets and risk managementexpertise for financial services clients includingS1 Corporation, SunTrust Banks, Inc., ING GroupNV, and First Union Corp (now Wells Fargo).Rob has an MBA in Finance and Economics fromGeorgia State University and a BBA from EmoryUniversity in Business Administration. He is acharter holder of the Bank AdministrationInstitute’s Certified Risk Professional designation(CRP) and is an Investment Training andConsulting Institute Certified Investments andDerivatives Auditor (CIDA).© MIS Training 2010In-House Training - Save up to 50% when you run this course in-houseIn-house tailored training will enable you and your colleagues to make significant savings as we charge per day and not per participant so the costremains the same regardless of how many people attend. We can offer any of our public courses or tailor them to your requirements. Training is availablein all areas of Internal Audit, IT Audit, and IT Security.If you have six or more colleagues who would be interested in one of our courses and you would like to make significant savings, contact us now:Email Guy Cooper at gcooper@mistieurope.com or call +44 (0) 20 7779 8456You will have complete control of the training content and decide when it is run. We guarantee that we will be able to cater for all your business needs.

Who Should AttendCentral Bank or financial sector auditors, Central Bank Audit Committee members, externalauditors with Central Bank clients, and bank safety and soundness examinersPrerequisite NoneLearning Level IntermediateFee GBP £2,245CPEs 22Day OneDay TwoDay ThreeIntroduction to the role of central banks• Implementing monetary policy• Controlling the nation’s money supply• Setting the official interest rate• Serving as the Government’s banker and thebankers’ bank (“lender of last resort”)• Managing the country's foreign exchange andgold reserves• Regulating and supervising the banking industry• Regulatory compliance• Reserve, capital, and margin requirements• Monitoring and facilitating payments andsettlementsThe Central Bank internal audit best practice• Internal audit concepts• Internal audit standards audit mandates forcentral banks– Supreme Audit Institution (SAI)• International professional practicesframework (from the IIA)• Organization and staffing of internal auditdepartments• Legal authority from banking acts• Requirements for internal and external audit• Internal and external reporting of auditfindings/recommendations• Audit committees and supervisory boards• of central banksExercise: developing audit plans for centralbanksInternal audit frameworks for central banks• Federal reserve system (Fed)• European System of Central Banks (ECB)• Others, including emerging marketsAudit specific central bank functions• Banking operations• Payment & settlement systems• Balance sheet, profit & loss account• Currency operations• Reserve requirements and reservemanagement• Audit’s role in evaluating monetary policydecisions?Case StudyAdopting risk based auditing and the latestaudit tools• Best practices for internal audit functions• Leveraging the external audit process ofcentral banks• Tools available to central bank audit – “datamining”• Audit Control Language (ACL)• Interactive Date Extraction and Analysis(IDEA)• SAS, SPSS, etc.• Internal and external Quality Assessments (QAs)• Evaluation of internal audit at central banks• Risk-focused methodologies and plan• development• Enterprise Risk Management (ERM)• concepts/applications to central banks• Evolving roles of central banks – new rolesand risks• Non-bank lender of last resort• Issuance of debt for monetary policypurposes• Ongoing quantitative easing strategies• Roundtable discussions –region-specific issues in auditing centralbanksCase wrap-up and distribution ofcertificatesEnquire or register todayWeb: mistieurope.com/training Email: training@mistieurope.com Tel: +44 (0)20 7779 8454