Certification for Corporate Governance & Compliance
Through the presentation of practical issues and working
on cases to solve problems that are significant for
understanding the international practices of good
corporate governance and compliance with regulations.
Experience
BASIC KNOWLEDGE OF THE FIELD
Duration
6 months
Dedication
8 HOURS A WEEK
Start
April 2024
Format
HYBRID BY CHOICE
Price
1440€
1. Introduction to corporate governance – term, definitions, benefits and cost
2. Legal and institutional framework of corporate governance, comparatively in Macedonia
3. Internal acts and documents of the company
• Agreement for the company, i.e. Statute of the company
• Obligations for companies that are listed on the stock exchange and companies with special reporting obligations, as well as processing of the Corporate Governance Code of companies listed on the Macedonian Stock Exchange
4. Shareholders of the company and interested parties (Shareholders and Stakeholders)
5. Board Role, Board Committees, Composition and Structure
6. Role of the Management Board/Board of Directors/Managers and Directors’ duties and liabilities
7. Disclosure and Transparency – dealing with price-sensitive information, internal (insider) information, business and banking secrets, etc.
8. Remuneration policy and management contracts
9. Joining and merger of joint stock companies
1. Lines of defense and risk management (the governance of risk/risk management framework, risk appetite)
2. Organizational setup, status and resources of the risk management function – Chief Risk Officer, role and responsibilities
3. Compliance Function, role and responsibilities, independence of the function (role and functions-following the regulations, giving an opinion on a new product/service, reporting to senior management, assessing risks of non-compliance with the regulations, compliance check and education, conflict of interests and corruption, etc.)
4. Cooperation with other organizational parts in the company, external institutions and regulatory bodies
5. Function of Internal Audit – status, role and responsibilities, scope of activities, audit cycle, reporting to the company’s authorities
6. The role and function of the external audit
7. Role and function of supervisors and supervisory authorities
8. Protection of personal data (Data Protection Officer)
9. AML/CFT Risk Management and FATCA Officer and risk assessment methodology at company level
1. Consumer protection when using financial services
2. New and compliant operation with the Law on payment services and payment systems (payment services; fit & proper criteria for licensing; implementation of supervision)
3. Fintech companies and risks of their business model
4. Using services from outsiders (Outsourcing risk)
5. Management of internal and external fraud (Fraud Prevention – Management)
6. Legal risk management and customer complaint management
7. E-governance, electronic identification, signature and documentation
8. Financing of terrorism and restrictive measures (Sanctions)
9. Corporate management and new technologies (critical systems and cyber security)
MON
Hybrid lectures
18:00 - 21:00
TUE
NO LECTURE
WED
Hybrid lectures
18:00 - 21:00
THU
NO LECTURE
FRI
NO LECTURE
Оur expert lecturers
Dr. Iskra Ivanovska Stojanovska
Dr. Iskra Ivanovska Stojanovska, independent advisor, Directorate for Field
Supervision at the National Bank
Olgica Spasevska
Olgica Spasevska, MSc, General Secretary, Šparkase banka AD Skopje
Vaska Kutrevska
Vaska Kutrevska, Director of the Legal Service for the Western Balkans, Sandoz
MA Gligor Pandilovski
banka AD Skopje, President of the AML/Compliance Commission at the
Macedonian Banking Association
Blagorodna Mirchevska
Blagorodna Mirchevska, Regulatory Compliance Department, NLB Bank AD
Skopje
She has 15 years of working experience within the banking sector in the areas of compliance and integrity, prevention of money laundering and financing of terrorism as well as in the area of personal data protection.
She is a certified compliance specialist who actively participates in the development, promotion and implementation of legislation that is significant for the banking sector in our country, especially through membership in the Macedonian Banking Association as well as through cooperation with regulatory institutions in the country.
Jasna Smileva
Jasna Smileva has been employed at the Securities Commission for more than 15 years and is actively
involved in the harmonization of national legislation with the law of the European Union, especially in
terms of activities related to the capital market, corporate governance and transparency of capital
market participants.
MORE DETAILS ABOUT THE PROGRAM
For a long time, people talk, teach and write about the role of corporate governance for the good operation of companies. Understanding and promoting corporate culture and ethical values in today’s modern world is a challenge. At the same time, it is necessary that the topic be understood and applied by all employees in banks, insurance companies and other financial companies, then telecommunications companies, medical companies, as well as in other joint-stock companies, and above all it is significant for the persons employed in control functions in the company and that in the area of risks, compliance with regulations, internal audit, as well as the employees in the office of the management and supervisory board, legal directorates and corporate secretaries of the company and etc. Each presence and visit to the program requires active participation in the discussions that are the subject of processing, participation in debates on assigned topics, solving assigned questions/opinions. This program will increase the students’ knowledge of corporate governance, as well as their knowledge and confidence in the day-to-day operations of the company. They will gain knowledge about current issues in the field of corporate governance, they will have access to current materials and literature, and at the same time they will establish new contacts and share experience with more experienced leaders of this issue.
The program is based on a series of lectures in the field of corporate governance with a presentation of the latest professional literature in this section and an explanation of the requirements of the existing legal regulation. Then presentation of practical questions and work on cases/problems that are significant for understanding the rules of good corporate governance. The lecturers are professionally engaged in regulatory bodies and the private sector with many years of practical experience in the field of corporate governance, compliance with regulations, prevention of money laundering, the operation of insurance companies and the functioning of the capital market.
The focus of the lectures will be the operation of financial institutions and companies listed on the Macedonian Stock Exchange from the aspect of good international practices of corporate governance and compliance with regulations.
LEARNING OBJECTIVES
After completing the program, participants will be able to:
- Module 1 will cover the basic postulates of corporate governance in trading companies (work of the company's bodies, rights of shareholders/partners, deal with an interested party, management agreements, the statute and the agreement for the establishment of the company, publication of data and transparent operation) which are important questions for every trading company, especially for companies listed on the Macedonian Stock Exchange. Including, individual lectures on the application of the new Code of Corporate Governance for companies listed on the Macedonian Stock Exchange, management contracts and the reward process for trading companies, as well as answering practical questions and transferring experience for the process of joining and merging joint-stock companies.
- Module 2 covers the control functions in trading companies, with an emphasis on the work of the internal audit (internal audit function), the department/person responsible for risk management (risk function) and the department/person responsible for the operation of the company in accordance with the regulations (compliance function). A special lecture is devoted to the scope and significance of the work of the external audit, the work of the supervisory authorities and other regulatory bodies of the financial institutions. In addition, separate topics in this module is a comprehensive analysis of the requirements of regulations for the protection of personal data, as well as money laundering risk management.
- Module 3 covers a more professional treatment of given topics that are related and significant for good corporate governance on the one hand, and on the other hand are important and characteristic in the time of intensified digital transformation, the emergence of new financial institutions in the financial landscape of the country, the emergence of new products and services on the market, as well as new risks that occur daily as a result of new and modification of existing products on the market. This section deals with the following topics: fit & proper criteria in the process of licensing payment institutions, fintech companies and the risks arising from their business model, cyber risks and cyber risk insurance, fraud risk management, risks due to using services from external persons, electronic documents and electronic identification, as well as the application of restrictive measures in practice.
