Course Details

Regulatory Compliance for SACCOs Training: Navigating the Legal Landscape for Sustainable Operations

INTRODUCTION

Operating a Savings and Credit Co-operative Organization (SACCO) requires strict adherence to a complex web of regulations. This Regulatory Compliance for SACCOs training course equips SACCO leaders, managers, and staff with the knowledge and skills to understand and meet these requirements, ensuring legal compliance, minimizing risk, and building a foundation for sustainable operations. Learn about the relevant laws, regulations, guidelines, and reporting requirements that govern SACCOs. This SACCO compliance training is crucial for professionals seeking to navigate the legal landscape and protect their organizations from penalties and reputational damage. This course covers key areas like SACCO Act & regulations, financial compliance, AML/CFT compliance, and governance & reporting, empowering you to become a compliance champion within your SACCO.

DURATION

5 days

TARGET AUDIENCE

This course is designed for:

• SACCO Board Members: Individuals responsible for overall governance and compliance oversight.
• SACCO Management Team: Individuals responsible for implementing and managing compliance processes.
• Compliance Officers: Individuals specifically tasked with ensuring regulatory compliance.
• SACCO Staff: Employees involved in various aspects of SACCO operations and transactions.
• Anyone seeking to improve their understanding of SACCO regulatory compliance: Professionals and individuals committed to ethical and legally sound SACCO operations.

COURSE OBJECTIVES

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

• Understand the legal and regulatory framework governing SACCOs.
• Identify key compliance requirements related to SACCO operations.
• Implement compliance policies and procedures effectively.
• Manage regulatory reporting and documentation.
• Understand the consequences of non-compliance.
• Develop a compliance culture within the SACCO.
• Monitor and evaluate the effectiveness of compliance programs.
• Stay up-to-date with evolving regulatory requirements.

COURSE MODULES

• Introduction to SACCO Regulatory Compliance:

• The importance of regulatory compliance for SACCOs.
• The legal and regulatory framework governing SACCOs (SACCO Act, Regulations, Guidelines).
• The role of regulatory bodies in overseeing SACCO operations.
• The benefits of a strong compliance program.

• The SACCO Act and Related Regulations:

• Detailed review of the SACCO Act and its key provisions.
• Understanding specific regulations related to SACCO operations (e.g., membership, governance, financial management).
• Interpretation and application of the legal framework to SACCO activities.
• Updates and amendments to the SACCO Act and regulations.

• Financial Compliance for SACCOs:

• Compliance with financial reporting requirements.
• Maintaining accurate financial records and documentation.
• Adhering to accounting standards and best practices.
• Managing audits and financial reviews.

• Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Compliance:

• Understanding AML/CFT regulations and their implications for SACCOs.
• Implementing KYC (Know Your Customer) and CDD (Customer Due Diligence) procedures.
• Reporting suspicious transactions and activities.
• Training staff on AML/CFT compliance.

• Governance and Reporting Requirements:

• Compliance with corporate governance principles.
• Meeting reporting obligations to regulatory bodies.
• Maintaining transparency and accountability in SACCO operations.
• Managing board responsibilities and oversight.

• Data Privacy and Security Compliance:

• Understanding data privacy regulations and best practices.
• Protecting member data and ensuring confidentiality.
• Implementing data security measures to prevent breaches.
• Complying with data protection laws.

• Compliance Monitoring and Evaluation:

• Developing a compliance monitoring program.
• Conducting internal audits and reviews.
• Identifying and addressing compliance gaps.
• Evaluating the effectiveness of compliance measures.

• Building a Culture of Compliance:

• Promoting ethical conduct and integrity within the SACCO.
• Training staff on compliance policies and procedures.
• Communicating compliance expectations clearly.
• Fostering a culture of accountability and responsibility.

CERTIFICATION

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

TRAINING VENUE

Training will be held at Macskills Training Centre. We also tailor make 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