Compliance officer duties (for banks and PSF investment firms): the basics

As a junior compliance officer or new joiner of a compliance function in a bank or a PFS, you are part of the 2nd line of defence and will therefore play an important role in the institution's internal control framework.

As a beginner, you want to acquire a knowledge concerning the role and responsibilities of the compliance function, its role in the internal organisation and its main working procedures and tools. In addition, you would like have a clear view on what is expected from you from both a regulatory and organisational perspective.

It is essential to position yourself within the organisation, knowing the reporting lines, the interactions with the different stakeholders and the tools and methodologies available to perform your day-to-day tasks and controls. This will allow you to focus on the business as usual activities in terms of controls.

Thanks to our expertise in compliance functions from a regulatory point of view, but also from a practical perspective, we would like to share our experience with you and allow you to be ready for your day-to-day role.

Our training is focused on:

• presenting the compliance function within the internal control framework
• describing the roles and responsibilities of the compliance function within the organisation and its interactions with other functions
• main regulatory topics and areas with a focus on key controls
• presenting the compliance tools and methodology
• describing the role of the compliance officer within the compliance function

At the end of this training, the participants will be able to:

• understand their roles and duties as compliance officers within the organisation
• have a comprehensive view on their day to day activities, including the main controls and processes
• understand the tools of the compliance function: the compliance risk assessment and the compliance monitoring plan

The training will cover the compliance duties around the following aspects:

• Overview of the internal control framework and the role of the compliance function within the organisation
• Presentation of the main components of your role, responsibilities and interactions with the different stakeholders
• An effective presentation of the compliance tools and methodology
• The main regulatory topics covered by the function with example of key controls to be implemented

An attendance certificate will be sent to participants.

Cécile Liégeois is a regulatory and audit partner in the banking and PFS industry. With over 20 years of professional experience in Luxembourg, she has developed a deep knowledge of Luxembourg banking and investment firms regulations including MiFID II/MiFIR and governance/compliance.

Isabelle is a managing director at PwC and also a member of the "Association Luxembourgeoise des Compliance Officers" (ALCO) and of the "Association Luxembourgeoise des Juristes de Banques" (ALJB). She has more than 22 years of experience in the financial sector in Luxembourg and her areas of expertise include: banks, investment firms, specialised PFS, support PFS, Electronic Money ("EMI") and Payment Institutions ("PI"), Luxembourg banking regulations, internal governance requirements, licensing and notifications.

Franck is a director working in both regulatory and audit departments.
He has been working for 14 years at PwC Luxembourg as an auditor specialised in the audit of banks, Professional of the Financial Sector (PFS) and management companies. For a few years, he is also working as a director in the PwC Luxembourg's advisory department. Franck regularly helps his regulated clients on several topics such as Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF), internal governance, internal controls and compliance topics.