Regulatory Compass: Mastering the SACCO Societies Act & Amendments Training Course

Introduction

For any SACCO, navigating the legal and regulatory landscape is not a challenge—it's a core function. The SACCO Societies Act and its subsequent amendments are the fundamental legal framework that governs every aspect of a SACCO's operations, from governance and financial management to member protection and operational compliance. A deep and practical understanding of this legislation is essential for every leader and professional to ensure legal compliance, mitigate risks, and build a strong, trusted, and sustainable financial institution that operates within the bounds of the law.

This specialized training course is meticulously designed to provide SACCO professionals with a comprehensive and up-to-date understanding of this critical Act. We will break down complex legal clauses into clear, actionable insights, enabling participants to apply their knowledge directly to day-to-day operations. This intensive program is an indispensable guide for ensuring your SACCO remains a beacon of compliance and ethical practice in the financial sector.

Duration 5 days

Target Audience This course is for SACCO board members, senior management, legal advisors, compliance officers, and internal auditors responsible for corporate governance and regulatory compliance.

Objectives

  1. To understand the foundational principles and key provisions of the SACCO Societies Act.
  2. To master a systematic approach to interpreting and applying the Act's regulatory requirements.
  3. To develop and apply a comprehensive framework for ensuring full compliance with all amendments.
  4. To understand the role of governance structures as defined by the Act and its regulations.
  5. To design a proof-of-concept for a compliance monitoring system.
  6. To identify and mitigate specific risks associated with non-compliance and regulatory penalties.
  7. To create a robust framework for managing financial and operational reporting as required by the Act.
  8. To champion a culture of continuous compliance awareness and leadership.
  9. To analyze the financial performance and operational efficiency of compliance initiatives.
  10. To develop a strategic plan for managing regulatory inspections and audits.

Course Modules

Module 1: The SACCO Societies Act: An Overview

  • The historical context and purpose of the Act.
  • The key components of the Act and its subsidiary legislation.
  • The benefits of a proactive approach to regulatory compliance.
  • The risks of regulatory non-compliance.
  • Case studies of common compliance challenges in SACCOs.

Module 2: Governance & Leadership

  • The roles and responsibilities of the board of directors.
  • The functions of the supervisory committee and other sub-committees.
  • The importance of a legal and regulatory manual.
  • How to interpret new laws and statutory requirements.
  • Defining clear roles and responsibilities for managing compliance.

Module 3: Financial Management & Reporting

  • The principles of transparent financial reporting.
  • The importance of a clear and easy-to-understand loan agreement.
  • How to create a loan summary and internal procedures.
  • The role of a clear and transparent dispute resolution process.
  • Aligning lending policies with regulatory and ethical requirements.

Module 4: Lending & Credit Management

  • The principles of data governance and its components.
  • The importance of a data privacy policy.
  • How to create a data privacy manual and internal procedures.
  • The role of a clear and transparent dispute resolution process.
  • Aligning data policies with regulatory and ethical requirements.

Module 5: Member Protection & Rights

  • The role of technology in enhancing data privacy and efficiency.
  • Assessing a SACCO's technology readiness for a privacy system.
  • How to evaluate and select the right technology vendors.
  • The benefits of integrating with existing SACCO systems.
  • Ensuring data security and privacy during integration.

Module 6: Regulatory Inspections & Audits

  • The unique security risks of a new data protection system.
  • Developing a robust cybersecurity policy.
  • Best practices for managing user access and permissions.
  • The importance of a clear and transparent dispute resolution process.
  • Ensuring compliance with data privacy regulations.

Module 7: The SACCO Societies Act: Amendments

  • The importance of a comprehensive incident response plan.
  • The different types of data breaches.
  • The process of creating incident response scripts and scenarios.
  • The role of a bug tracking system.
  • The importance of a go-live checklist.

Module 8: Compliance & Internal Controls

  • The principles of a comprehensive privacy audit plan.
  • The different types of audits (e.g., compliance, operational).
  • The process of creating audit scripts and scenarios.
  • The role of a bug tracking system.
  • The importance of a go-live checklist.

Module 9: Compliance Culture & Training

  • The importance of a comprehensive training plan for staff and members.
  • The role of a change management strategy.
  • How to communicate the benefits of the new system to members.
  • The process of training front-line staff and back-office personnel.
  • Creating a support system for post-go-live issues.

Module 10: Capstone Project: A Data Privacy Plan

  • Participants will work in teams to design and present a comprehensive data privacy plan.
  • They will conduct a risk assessment, select a mock solution, and develop an implementation plan.
  • Teams will present their proposal to a mock "Technology Committee," discussing ROI and member benefits.
  • This module provides a hands-on opportunity to apply the concepts from all modules.
  • The project prepares participants to successfully launch a data privacy initiative.

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 tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. 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

For More Details call: +254-114-087-180

 

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