Credit Unions of Jamaica Employee Development Programme 2018

Transcription

1 Credit Unions of Jamaica Employee Development Programme 2018 Rationale and Objective The pending Bank of Jamaica Regulations for Credit Unions has a Fit and Proper requirement. This requirement dictates that senior management demonstrate a particular level of expertise and experience in managing a financial institution. This Credit Unions of Jamaica Employee Development Programme aims at providing Credit Union employees with the knowledge to execute the strategic direction set by the Board, and implement effective and practical suggestions regarding the operations of the credit union as a regulated financial institution. Regulations place significant emphasis on effective management as they monitor the financial institution on a mainly offsite basis. Regulatory burdens will increase and compliance with requirements and enhanced risk management will become a major plank for credit unions. The programme will consist of workshops, seminars and hands-on experiences. The Jamaica Co-operative Credit Union League (JCCUL) will utilize the expertise of the Institute of Chartered Accountants of Jamaica (ICAJ) in collaboration with ACCA; Pearson Higher Education and Professional Certification; and the Dale Carnegie Institute. Some of the courses will also be offered by Consultants hired by the Centralized Strategic Services Ltd. (CSS) This alliance will ensure employees are able to effectively execute their roles. 1

2 Programme CUJ-EDP1- Orientation of Credit Union Employees This course will create the awareness of, and appreciation for, the characteristic features of co-operatives, and the uniqueness of the credit union as a financial cooperative. It will examine the governance structure of the credit union, the roles and responsibilities of all stakeholders, general and management staff, directors, committee members, etc. New employees Facilitator: JCCUL Proposed fee: Covered by your League dues CUJ-EDP2- Advanced Anti Money Laundering and Counter Financing of Terrorism This course will explain the background and purpose of the Proceeds of Crime Act (POCA) and the Terrorism Prevention Act (TPA). It will highlight how these Acts impact the operations of the regulated sector. It will explain the obligations that the money laundering prevention and counter financing of terrorism regulations impose on the regulated sector. It will examine the penalties for breach of the obligations under the POCA and TPA. The role and responsibilities of staff in the Credit Union as it relates to combating money laundering and terrorist financing will be discussed. Risk Manager, Nominated officer, Internal Auditor 2

3 CUJ-EDP3- Representing Your Credit Union with Confidence This seminar will expose participants to acceptable standards of behavior at formal and informal events. Selecting the appropriate attire, addressing audiences and demonstrating the appropriate use of cutlery and napkins at the table will be explored. It will also outline the basic requirements for personal presentation, such as your clothes, personal hygiene and cleanliness, and the importance of these skills in providing a good first impression of self to others. What is appropriate and what can be an inappropriate presentation of self will be discussed. Senior and Supervisory Management CUJ-EDP4- Corporate Governance for Credit Unions This course will explore the elements of an effective Credit Union Governance structure. Global trends and international best practices will be introduced. The Jamaican cultural context of governance will be examined. Credit Union General Managers will be exposed to strategies for creating an effective governance framework for their credit union. The Fit and Proper Requirement will be examined and methods of managing in a central bank regulated environment will be discussed at length. General Managers 3

4 CUJ-EDP5- Governance for Risked Based Lending Operations This course will examine the traditional lending practices and processes. It will explore the risks involved in lending, how to identify and evaluate the risks the credit union is willing to take, including how to utilize the local credit bureaus while maintaining the credit union difference. IFRS 9 and its impact on the credit union s lending process will be explored. Credit Managers CUJ-EDP6- Credit Risk Management This course will highlight the fundamentals of credit principles. The 5 C s of credit and how to balance them will be explored. Loan evaluation and analysis will be examined at length. Loan security documentation techniques and delinquency management will also be highlighted. Credit Managers Loan Officers Contact Hours: 14 Hours (2 Days) per day. 4

5 CUJ-EDP7- Management of Non-Performing Loans in an IFRS Environment This course will outline the appropriate prevention and collection measures to keep delinquency at an acceptable level in accordance with best practice. The course will explore analyzing delinquency reports and loan underwriting techniques to reverse any delinquency trends. The responsibility of the credit, and in-house loan committees in this process will be examined. Credit Managers Delinquency Officers CUJ-EDP8- Asset Liability Management This course will expand the principles of asset liability management involved in managing the credit unions balance sheet. Economic issues, interest and foreign exchange rates and their impact on the credit union revenue will be examined. Prudent investment principles and techniques will be explored as well as portfolio and cash management. Finance Managers Facilitator: ACCA / ICAJ Proposed fee: $20,000 per participant 5

6 CUJ-EDP9- Strategic and Tactical Planning This course will identify the elements of the strategic planning process (from development to implementation) and explain their significance. The balanced scorecard and how it can be incorporated in the strategic planning process to track strategic goals, will be examined. Methods of developing S.M.A.R.T tactical goals will be explored. Management team CUJ-EDP10- Audit Techniques This course will reiterate the roles and responsibilities of the internal auditors, supervisory and audit committees. The legal and regulatory framework in which the internal auditor and supervisory committee must operate will be explored. The relationship between the committee, the board and the internal auditor will be highlighted. It will examine operational, financial, information technology and compliance audit techniques. Internal Auditors Contact Hours: 14 Hours (2 Days) per day 6

7 CUJ-EDP11- Financial Management This course will define and analyze financial management issues and concepts in the credit union. The impact of economic policies on the credit unions operations will be examined. Understanding the balance sheet and income statement will be explored. The use of financial techniques to assess risk and profitability of the credit union will be discussed. Finance Managers Accountants Contact Hours: 14 Hours (2 Days) Facilitator: ACCA / ICAJ Proposed fee: $20,000 per participant per day CUJ-EDP12- Enterprise Risk Management This course will identify the possible risk credit unions are likely to face and the mitigating strategies that may be employed. The role of staff in the risk management process will be highlighted. The course will explore developing the ERM Framework, ERM polices and setting and influencing the risk culture of the origination It will identify the enterprise-wide risk governance principles and discuss governing in a BOJ regulated environment and strategies to ensure compliance. The development and monitoring of risk appetite, risk tolerance, risk profile and risk registers will be discussed. General Manager Risk Manager Proposed fee: $15,000 7

8 CUJ-EDP13- Service Quality Standards This course will explore the service standards that will allow credit unions to give cutting edge member service to retain current members and attract new ones. Strategies for designing quality based products will be identified. How excellent service transcends to credit union growth will be reviewed. The key areas of member service will also be examined. Management team Proposed fee: Covered by your League dues CUJ-EDP14- Fraud Detection and Prevention This course will identify strategies to be implemented to prevent fraud in the credit union. It will examine new trends being used by persons carrying out fraudulent activities. How to combat cybercrime and debit card fraud will be explored. Management team 8

9 CUJ-EDP15- Performance Management This course will identify the various steps in the performance management system. The balanced scorecard technique will be explored. How to set S.M.A.R.T goals and tie employees goals with the strategic goals and targets of the organization will be discussed at length. Employing and developing the best fit candidates for various positions will be examined. Management team CUJ-EDP16- Working as a Volunteer This course will explore the benefits of volunteering in credit unions, including the new skills one can develop while volunteering. How to offer cutting edge voluntary service to your community and how to effectively execute your voluntary roles, will be discussed. All employees Proposed fee: Covered by your League dues 9

10 CUJ-EDP17- Loan Securities Documentation Financial Institutions take security as protection against the risk of Loan Loss. In reality, the security taken offers no protection unless it is legally correct and enforceable, adequate, and can be disposed of with relative ease. This workshop is designed to inform and guide participants in all the necessary steps to mitigate the risks associated with taking security Participants will be able to: Know the characteristics of security Identify appropriate security relative to the loan Identify the different instruments of charge, with their appropriate remedies Understand the duties and responsibilities of the institution taking the security Understand the responsibilities of the borrower providing the security Conform to regulations governing taking of security Credit Managers Credit Supervisors Credit Officers Securities Officers Contact Hours: 14 Hours (2 Days) per day 10

11 Assessment All staff must complete at least 70% of the required courses to be awarded their Certified Credit Union Employee Certificate*. For each course completed, certificates will be granted by the facilitating institution. 17 courses; so minimum 12 to be completed for certification. Conclusion If all employees take advantage of this development programme, they will be equipped with the knowledge and attitude to effectively carry out their role as credit union employees. *Employees who have tertiary level, international certification / designation or have completed a similar course on CPD Online, will receive an exemption from that course. Registration To register click HERE! 11