Course Details

Records Management in Financial Institutions Training Course

INTRODUCTION

"Navigate the complex regulatory landscape of the financial sector with our specialized 'Records Management in Financial Institutions' training course. Financial institutions are subject to stringent record-keeping requirements to ensure compliance, mitigate risks, and maintain operational integrity. This course equips you with the essential knowledge and skills to implement effective records management strategies tailored to the unique demands of the financial industry. Learn how to manage transaction records, customer data, and compliance documents while adhering to strict regulatory standards. Protect your institution from legal and financial penalties by mastering the principles of robust records management."

DURATION

5 days

TARGET AUDIENCE

• Compliance officers
• Risk managers
• Bank managers and staff
• Financial analysts
• Auditors
• Legal professionals working with financial institutions
• Records managers in the financial sector

COURSE OBJECTIVES

Upon completion of this course, participants will be able to:

• Understand the regulatory requirements for records management in financial institutions.
• Implement effective records retention and disposal policies.
• Manage transaction records and customer data securely.
• Ensure compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.
• Utilize technology for efficient electronic records management.
• Conduct internal audits and compliance checks.
• Understand the legal and ethical considerations of financial records.
• Develop and maintain records management policies and procedures.

COURSE MODULES

Module 1: Introduction to Records Management in Financial Institutions

• Overview of the regulatory landscape (e.g., Basel Accords, Dodd-Frank Act, local regulations).
• The importance of records management in risk mitigation and compliance.
• Key terminology and concepts.
• The relationship between records management and financial audits.

Module 2: Regulatory Requirements and Compliance

• Understanding AML and KYC regulations.
• Compliance with data privacy laws (e.g., GDPR, CCPA, and local financial data privacy laws).
• Records retention requirements for financial transactions.
• Reporting and disclosure obligations.

Module 3: Managing Transaction Records and Customer Data

• Secure handling of customer financial information.
• Managing electronic and physical transaction records.
• Data encryption and access controls.
• Customer data lifecycle management.

Module 4: Records Retention and Disposal Policies

• Developing and implementing retention schedules for financial records.
• Secure disposal of sensitive financial data.
• Legal hold and data preservation.
• Addressing digital records preservation.

Module 5: Electronic Records Management (ERM) in Finance

• Utilizing ERM systems for financial records.
• Data migration and system integration.
• Metadata management and classification.
• Cloud based records management in financial settings.

Module 6: Auditing and Compliance Checks

• Conducting internal audits for records management.
• Preparing for regulatory audits.
• Documenting compliance activities.
• Audit trails and reporting.

Module 7: Legal and Ethical Considerations

• Legal implications of financial records management.
• Ethical considerations in handling customer data.
• Understanding litigation and legal holds.
• Data breach response within financial institutions.

Module 8: Best Practices and Future Trends

• Best practices for records management in the digital age.
• Emerging technologies and their impact on financial records.
• Continuous improvement and training.
• AI and automation within financial records management.

CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com