Risk Consulting and Financial Services Advisory www.mnkriskconsulting.com Continuous Professional Development (CPD) Training Course for Regulated Investment Services Professionals DATES Friday, 23 rd November 2018 08:30 15:00 Thursday, 29 th November 2018 08:30 15:00 Friday, 30 th November 2018 08:30 15:00 Wednesday, 12 th December 2018 08:30 15:00 PLACE CROWNE PLAZA HOTEL, LIMASSOL 2, Promachon Eleftherias Street, Limassol 4103 (right across The OVAL) 1 P a g e
TRAINING COURSE LOGISTICS Dates: 23 rd November 2018 29 th November 2018 30 th November 2018 12 th December 2018 Time: 08:30 15:00 Duration: 5 teaching hours per day Language: English Venue: Crowne Plaza Hotel Limassol Attendance fees: 130* + VAT per day * 10% discount for 2+ participants of the same company * 15% discount for 4+ participants of the same company WHY SHOULD ATTEND To receive the required continuous professional development training and renew registration in the CySEC Public Register of Certified Persons; To gain insight on the latest EU and Cyprus regulatory developments; To be exposed to cutting-edge risk measurement methodologies helping you manage your risks proactively; To expand the knowledge and competence of employees in the investment services sector. Fees include training material hardcopy, drinks, lunch. WHO SHOULD ATTEND Holders of the CySEC Basic and Advanced Certification; Compliance Officers; Anti-Money Laundering Compliance Officers; Brokers; Treasurers; Investment Fund Managers; Portfolio Managers & Asset Managers; Investment Advisors; Dealers; Brokerage Houses; Banks; Binary Options Brokerages; Investment Firms; Investment Funds (AIFs, UCITs); Financial Services Providers; Administrative & Fiduciary Services Providers; Liquidity Providers & Market Makers; Payment Institutions; Electronic Money Institutions. TRAINING METHOD Practical examples, case studies and illustrations will be provided; Going behind the relevant law provisions, understanding their rationale and how to apply and make them work for you; The course will be presented by professionals with diverse backgrounds and extensive international experience in the banking and financial services sector; All participants will be given handbooks with notes of Note: the material to be covered. Attendance Certificates will be awarded to all participants. 2 P a g e
INSTRUCTORS DR. MARIOS KYRIACOU MR. CONSTANTINOS DEMETRIOU Dr. Marios Kyriacou has 18 years experience in the banking and financial services sector. He is consulting credit institutions, investment firms and investment funds with regards to their optimal structure and set-up, licensing, and regulatory compliance. Currently he is engaged by the Central Bank of UAE for the implementation of Basel 3 (2006 to 2017 standards) to the country s banking sector. He is considered to be an expert in treasury risk management, counterparty credit risk measurement, operational risk management, capital adequacy optimisation, stress testing, and risk-based internal audit. Dr. Kyriacou was previously the Head of Risk Management with Piraeus Bank (Cyprus) for nearly 8 years. He also worked for eight years at the City of London as Risk Manager with BNP Paribas UK investment bank. Ph.D. and M.Phil. (Distinction) from Cambridge University, B.Sc. (First Class, Honours) from Warwick University, Chartered Statistician awarded by the UK Royal Statistical Society. He is a member of several professional associations, speaker at international risk events and the author of risk management articles published in professional or academic journals. He is currently appointed as a non-executive Board member in investment companies, and lectures risk management topics to M.Sc. Finance and MBA students at the University of Cyprus. Mr. Constantinos Demetriou is a subject matter expert in the areas of Regulatory Compliance, Prevention of Money Laundering and Terrorist Financing, and Internal Audit. He has extensive work experience working with investment firms regulated by CySEC. Currently he advises high profile clients, investment firms primarily, on improving their compliance framework and in some cases, undertakes their Compliance or Internal Audit function. Previously Constantinos has worked at K. Treppides & Co. Ltd, as an Auditor for 3 years and as a Senior Compliance Consultant for another 2 years. He is an ACCA qualified accountant and member of the Institute of Certified Public Accountants of Cyprus (ICPAC). He was awarded a BSc (Hons) in Accounting & Finance by the University of Lancaster, following which he obtained the CySEC Financial Services Legal Framework Advanced Certification and is registered in the Public Register of the Cyprus Securities and Exchange Commission. 3 P a g e
MR. CONSTANTINOS PAPANASTASIOU MR. GEORGIOS VOUZAS Mr. Constantinos Papanastasiou currently holds the position of Senior Manager Fund Services for EFG Bank (Luxembourg) S.A - Cyprus Branch, part of EFG International. Among the fund services, he is offering AIFMD compliant depositary services to Cyprus Alternative Investment Funds. Constantinos has over 17 years of experience in investment banking and financial services as he was previously the Head of Investment Banking at CISCO, Bank of Cyprus Group. He is also a member of the Board of Directors of Natural Gas Public Company (DEFA) and of the Cyprus Investment Funds Association (CIFA). Constantinos is a CFA Charter holder from the CFA Institute and also holds a Corporate Finance Qualification from the ICAEW and the advanced certificate from CySEC for the provision investment services. He holds a B.Sc. (Econ) in Economics and Statistics (First Class) from University College London and an M.Phil. Finance from the University of Cambridge, Pembroke College. Mr. Georgios Vouzas has extensive experience on Compliance matters in the financial industry. He has been working with Cyprus Investment Firms as an AML Compliance Officer (in-house and on outsourcing basis) and has designed and developed several AML risk assessment methodologies. Georgios is considered to be an expert on AML and Compliance matters. He has obtained the CySEC Financial Services Legal Framework Advanced Certification and is registered in the Public Register of the Cyprus Securities and Exchange Commission. He has a degree on Mechanical & Automotive Engineering BEng (Hons) from the University of Bradford and two MSc degrees from the University of Huddersfield on Engineering Control Systems and Instrumentation, and on Engineering Design and Management. 4 P a g e
COURSE CONTENT COMPLIANCE FUNCTION & COMPLIANCE RISKS & TRANSACTION REPORTING (EMIR, MIFIR) Friday, 23 rd November 2018 Instructors: Mr. Constantinos Demetriou, Mr. Rani Sawaf (Centroid Solutions AG), Mr. Chris Dingley (Abide Financials) 08:00-08:30 Registration and Coffee 08:30-10:00 FOCUSING ON IMPORTANT TOPICS OF MIFID II Instructor: Mr. Constantinos Demetriou 10:00-10:15 Short Break Best Execution of Orders Enhanced publicity requirements regarding Best Execution - Regulatory Technical Standard (RTS 27 & RTS 28) Execution Quality Summary Statement (EQSS) regarding Best Execution Packaged Retail Investment and Insurance-based Investment Products (PRIIPs) Key Information Document (KID) 10:15-11:00 INVESTMENT FUNDS KEY INVESTOR INFORMATION DOCUMENT (KIID) Instructor: Mr. Constantinos Demetriou 11:00-12:00 FUNDAMENTALS OF TRANSACTION REPORTING Instructor: Chris Dingley, Abide Financials 12:00-12:45 Light Lunch Regulatory objectives Who can see the data? What sanctions can be applied? 12:45-13:30 DIFFERENCES BETWEEN EMIR/MIFIR Instructor: Chris Dingley, Abide Financials Architectures/ Eligibility MiFIR/EMIR specific topics Brexit/ What s next? 13:30-14:45 REGULATORY TECHNICAL STANDARD (RTS 27/28) Instructor: Rani Sawaf, Centroid Solutions AG Fundamentals of RTS 27/28: (i) Regulatory objective; (ii) Who is eligible; (iii) What sections can be applied? Reports content: (i) Architecture/Tables; (ii) Data; and (iii) Publication RTS27: (i) Challenges; and (ii) Solutions Future scope of RTS 27/28 14:45-15:00 Questions and Answers 5 P a g e
COURSE CONTENT Derivatives Counterparty Credit Risk (CCR) Thursday, 29 th November 2018 08:00-08:30 Registration and Coffee 08:30-10:00 DERIVATIVES COUNTERPARTY CREDIT RISK (CCR) 10:00-10:15 Short Break CCR Regulation Changes Coming Up and to be incorporated in the EU Capital Requirement Regulations EU CRR 575/2013 in 2019 What is the Scope: exchange-traded and over-the-counter derivatives as well as longsettlement transactions What is a Netting Set and a Hedging Set? What is the Replacement Cost? What is the Potential Future exposure? 10:15-12:00 DERIVATIVES COUNTERPARTY CREDIT RISK (CCR) How CIFs and Banks can benefit from netting agreements and reduce capital requirements? Learn how you calculate Replacement Cost for margined and unmargined transactions How to allocate derivatives transactions to one or more of the five asset classes (Interest Rate Derivatives; Foreign Exchange Derivatives; Credit Derivatives; Equity Derivatives; Commodity Derivatives) and calculate Potential Future Exposure How can you achieve maximum regulatory recognition of offsetting trades and diversification effects? 12:00-12:45 Light Lunch 12:45-14:45 DERIVATIVES COUNTERPARTY CREDIT RISK (CCR) Adjusted Notional Amount Supervisory Delta Adjustment and Effective Notional Amount Maturity Factor Adjustment Supervisory Factors, Correlations, and Volatility Adjustment Exposures to Qualifying Central Counterparties and concessionary risk weighting Treatment of posted Collateral: what you should know 14:45-15:00 Questions and Answers 6 P a g e
COURSE CONTENT Derivatives Counterparty Credit Risk (CCR) Friday, 30 th November 2018 Instructors: Dr. Marios Kyriacou, Mr. Constantinos Papanastasiou 08:00-08:30 Registration and Coffee 08:30-10:00 CCR IN PRACTICE 10:00-10:15 Short Break Summary of the CCR Calculation Process in practice Illustrating (with numerical example) the CCR capital required for a netting set with Interest Rates derivatives or FX derivatives Illustrating (with numerical example) the CCR capital required for a netting set with Credit derivatives or Equity derivatives 10:15-12:00 CCR IN PRACTICE Illustrating (with numerical example) the CCR capital required for a netting set with Commodity Forward contracts Illustration (with numerical examples) of the Replacement Cost Calculation with different types of Margining: Margined Transactions Initial Margin Initial Margin Not Bankruptcy Remote Maintenance Margin Agreement 12:00-12:45 Light Lunch 12:45-14:45 ALTERNATIVE INVESTMENT FUND MANAGERS LAW & AIF LAW Instructor: Mr. Constantinos Papanastasiou What are the changes to the regulatory framework (RAIFs, Mini Managers, etc.) AIFM and AIF operating conditions and organizational requirements AIFM and AIF reporting obligations & disclosure to investors AIF structures: legal status, internally vs externally managed, multiple investment compartments/ umbrella structures, master-feeder structures AIF with Limited Number of Persons (licensing, set-up, benefits and AIFS) How CIFs can extend their portfolio management services to AIFs What is the role of the new Mini Managers? 14:45-15:00 Questions and Answers 7 P a g e
COURSE CONTENT GENERAL DATA PROTECTION REGULATION (GDPR) & ANTI-MONEY LAUNDERING (AML) PROCEDURES Wednesday, 12 th December 2018 Instructors: Mr. Constantinos Demetriou, Mr. Georgios Vouzas 08:00-08:30 Registration and Coffee 08:30-10:00 ANTI-MONEY LAUNDERING (AML) PROCEDURES Instructor: Mr. Constantinos Demetriou 10:00-10:15 Short Break Introduction to Anti-Money Laundering Client Due-Diligence (CDD) and Know-Your-Client (KYC) Procedures Client Acceptance Policy (CAP) 10:15-11:15 ANTI-MONEY LAUNDERING (AML) PROCEDURES - CONTINUE Instructor: Mr. Constantinos Demetriou 4th European Union (EU) AML Directive 5th European Union (EU) AML Directive Reporting Suspicious Transactions to the Cyprus Unit (i.e. MOKAS) 11:15-12:00 GENERAL DATA PROTECTION REGULATION (GDPR) Instructor: Mr. Georgios Vouzas 12:00-12:45 Light Lunch Introduction to Personal Data What is it? Categories. Cyprus legal framework regarding Personal Data protection. Subject Rights. Introduction to GDPR. General info. 12:45-14:45 GENERAL DATA PROTECTION REGULATION (GDPR) - CONTINUE Instructor: Mr. Georgios Vouzas Changes that are being brought by GDPR to the Current Legal Framework. Subject Rights with GDPR Actions that need to be taken towards compliance with GDPR Technical/I.T. requirements and solutions for GDPR compliance DATA Breaches, consent examples. 14:45-15:00 Questions and Answers 8 P a g e
Registration: - You can complete the Registration Form (on the last page) and have it sent together with the payment receipt to: email address: info@mnkriskconsulting.com or fax number: +357 25 508032 Places are reserved upon payment. Last date for registration: 30 calendar days prior to the training course date ***Last date for cancellation: 20 calendar days prior to the training course date*** For late cancellation 40% of the seminar s cost will be charged. Substitutions are welcome at any time without any cancellation charge. M.N.K Risk Consulting reserves the right to change or cancel the dates of the programme. 100% refund in case of cancellation of the course by M.N.K Risk Consulting. Payment Method: - Payment can be made by bank transfer or direct deposit to the account. Bank Details: Bank: Hellenic Bank, Branch (201), 131 Arch. Makarios Ave., 3021, Limassol Bank Account Name: M.N.K RISK CONSULTING LIMITED Account number: 201-01-334080-01 (EUR) SWIFT: HEBACY2N IBAN: CY72 0050 0201 0002 0101 3340 8001 Certificates: - All participants will be awarded a certificate of participation of attendance. Each hour of attendance will account for one (1) unit of CPD. Our Contact Details: - M.N.K Risk Consulting Ltd 21 Vasili Michailidi Str., 3026, Limassol, Cyprus Areti Charidemou & Associates Tower Building Tel +357 25 508202 Fax +357 25 508032 Email info@mnkriskconsulting.com Web www.mnkriskconsulting.com 9 P a g e
CONTINUOUS PROFESSIONAL DEVELOPMENT (CPD) TRAINING COURSE FOR REGULATED INVESTMENT SERVICES PROFESSIONALS REGISTRATION FORM Available Seminars: I do hereby apply for the following seminar(s): 23 rd November 2018 (5 hours) 29 th & 30 th November 2018 (10 hours) 12 th December 2018 (5 hours) COMPANY DETAILS Company Name: Address: Telephone: Fax: E-Mail: PARTICIPANT(S) DETAILS Full Name: Job Title: ID: CySEC Certification Number (if applicable): Address: Telephone: Fax: E-Mail: Date:.. Signature:.. Please send your completed Registration Form with the payment receipt to: email address: info@mnkriskconsulting.com or fax number: +357 25 508032 10 P a g e