MANAGING ETHICS, COMPLIANCE AND CONDUCT RISK

SHE Level 3
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M3N322793
Module Leader Sarah Laycock
School Glasgow School for Business and Society
Subject Finance and Accounting
Trimester
  • A (September start)

Summary of Content

In today's business climate, accountability, transparency, and a high regard for laws, regulations, and ethical conduct is as much a part of how an organisation manages its affairs as its primary mission and operations. (Silverman 2008) Managing Ethics, Compliance and Conduct Risk aims to provide a comprehensive guide to implementing strategies and techniques for developing, managing, and improving the organisational compliance, conduct and ethical performance. The Compliance element of the module recognises that Risk Managers are more and more being asked to monitor and benchmark compliance with a wide range of legislative and regulatory instruments , for example The Money Laundering Regulations, Bribery and Corruption legislation, and have an understanding of topics such as Whistleblowing. Allied to this is the field of Conduct Risk, probably one of the fastest growing and most significant developments in the area of Risk since the Combined Code. Presently it concerns mainly Financial Service providers but similar approaches will be seen to develop across the private and public sector, particularly in the area of professional service provision. The final overarching element is Business Ethics and managing ethical performance within these new parameters. The module will, therefore, examine the compliance issues associated with a variety of laws and regulations, in a range of business settings, as well as matters surrounding ethical behaviour as it relates to compliance and conduct.

Syllabus

-360b7 The UK and European Regulatory and Statutory Framework b7 Outcome Based regulation b7 Evaluating Compliance Risks b7 Whistleblowing and Public Interest Disclosure with the NHS as a case study b7 Money Laundering and Bribery b7 Conduct Risk with the Financial Services Sector as a case study b7 Ethics, Codes of Practice and professional standards in context b7 Managing Ethical Performance b7 Establishing compliance strategies b7 Risk Assessment Techniques for Compliance, Ethics and Conduct b7 Creating and maintaining a compliant organisation b7 Audit tools b7 The future of Ethics, Compliance and Conduct

Learning Outcomes

On successful completion of this module, the student should be able to:1. Critically assess the need for business regulation2. Critically assess the relevance of conduct, ethics, ethical codes, including PRME, and professional standards in the regulation of businesses and individuals3. Apply a variety of regulatory principles in a number of different contexts4. Explain the need to establish compliance goals5. Understand where and how to establish a compliance programme within an organisation6. Demonstrate the critical thinking skills necessary to devise, establish and maintain an effective compliance programme7. Evaluate and develop critical strategies and techniques to promote compliance and reduce barriers to compliance8. Apply a number of tools to conduct in-depth compliance risk assessment and compliance audits etc.9. Critically assess regulatory issues orally and in writing, including by means of formal oral presentation and group working10. Research academic and industry-related materials using advanced research skills

Teaching / Learning Strategy

The teaching in the module will consist of a combination of lectures and seminars supplemented by: video presentations, guest speakers, and real life simulations. Seminars will examine individual risk issues to highlight the theory covered in the lectures. The module will be supported by a suitable Managed Learning Environment. Feedback Strategy A: Facilitating the development of self-assessment Students will be asked to identify strengths and weaknesses in their own work in relation to the criteria set out in the marking template before handing the work in for marking. B: Encouraging teacher and peer dialogue The lecturer will review feedback at the tutorials where coursework and other work done by students will be handed back. In reviewing personal transferable skills such as presentation skills individually and in small teams the lecturer will provide constructive instant feedback in discussion with the rest of the class. Students will also be encouraged to discuss the comments they have been given with their peers and suggest strategies to improve their performance next time. C: Clarifying good performance A marking template is available for all student course and exam work, which will be handed out in advance and discussed with students in a tutorial prior to completion of the assignment. D: Providing opportunities to close the gap between current and desired performance At feedback sessions in seminars students will be asked to identify their own action points, based on the feedback they have just received to involve students more in the generation and planned use of feedback. E: Delivering high quality information about their learning Feedback will be provided within three weeks of submission and will provide information on strengths, weaknesses and corrective action. F: Encouraging positive motivational beliefs and self esteem Feedback give to students will always be positive and constructive, with action points for improvement. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

-567 Books and articles To cater for the needs of this complex and far reaching subject a week by week reader will be provided to supplement the Recommended and indicative reading. Recommended Purchases Silverman MG, (2008) Compliance Management for Public, Private, or Non-Profit Organizations, McGraw-Hill Fisher, Lovell, Nestor & Valero-silva (2012), Business Ethics and Values <http://www.amazon.co.uk/Business-Ethics-Values-Colin-Fisher/dp/0273757911/ref=sr_1_3?s=books&ie=UTF8&qid=1386028570&sr=1-3&keywords=business+ethics>, Pearson Indicative Reading Velasquez MG, (2011), Business Ethics: Concepts and Cases, Pearson Cannon T, (2012) Corporate Responsibility: Governance, Compliance and Ethics in a Sustainable Environment <http://www.amazon.co.uk/Corporate-Responsibility-Governance-Sustainable-Environment/dp/0273738739/ref=sr_1_1?s=books&ie=UTF8&qid=1386025502&sr=1-1&keywords=compliance+and+ethics>, Pearson Trenino LK & Nelson K (2010) Managing Business Ethics <http://www.amazon.co.uk/Managing-Business-Ethics-Linda-Trevino/dp/047034394X/ref=sr_1_26?s=books&ie=UTF8&qid=1386028116&sr=1-26&keywords=compliance+and+ethics>, McGraw-Hill Kaptein M, (2013) Workplace Morality: Behavioural Ethics in Organizations, Emerald Group Publishing Limited -567 Online sources http://www.kpmg.com/UK/en/IssuesAndInsights/ArticlesPublications/Documents/PDF/Advisory/future-of-compliance_web_Acc4.pdf <https://mail.gcal.ac.uk/owa/redir.aspx?C=39rD5a1NoECVs7mKJEurMvVjeAkOw9BII4SBj-3dqVR9ND8OXWndX32MYhjsomGeQzM6F4ZQL70.&URL=http%3a%2f%2fwww.kpmg.com%2fUK%2fen%2fIssuesAndInsights%2fArticlesPublications%2fDocuments%2fPDF%2fAdvisory%2ffuture-of-compliance_web_Acc4.pdf>. http://www.cifr.edu.au/assets/document/Mike_Ritchie(1).pdf <https://mail.gcal.ac.uk/owa/redir.aspx?C=39rD5a1NoECVs7mKJEurMvVjeAkOw9BII4SBj-3dqVR9ND8OXWndX32MYhjsomGeQzM6F4ZQL70.&URL=http%3a%2f%2fwww.cifr.edu.au%2fassets%2fdocument%2fMike_Ritchie(1).pdf> https://www.grant-thornton.co.uk/Global/Publication_pdf/Conduct_Risk-Culture_September_email.pdf <https://mail.gcal.ac.uk/owa/redir.aspx?C=39rD5a1NoECVs7mKJEurMvVjeAkOw9BII4SBj-3dqVR9ND8OXWndX32MYhjsomGeQzM6F4ZQL70.&URL=https%3a%2f%2fwww.grant-thornton.co.uk%2fGlobal%2fPublication_pdf%2fConduct_Risk-Culture_September_email.pdf> http://www.deloitte.com/assets/Dcom-UnitedKingdom/Local%20Assets/Documents/Industries/Financial%20Services/uk-fs-conduct-risk-framework.pdf <https://mail.gcal.ac.uk/owa/redir.aspx?C=39rD5a1NoECVs7mKJEurMvVjeAkOw9BII4SBj-3dqVR9ND8OXWndX32MYhjsomGeQzM6F4ZQL70.&URL=http%3a%2f%2fwww.deloitte.com%2fassets%2fDcom-UnitedKingdom%2fLocal%2520Assets%2fDocuments%2fIndustries%2fFinancial%2520Services%2fuk-fs-conduct-risk-framework.pdf> www.pwc.co.uk <http://www.pwc.co.uk> www.deloitte.com/uk <http://www.deloitte.com/uk> www.kpmg.com <http://www.kpmg.com> www.ey.com/uk The Compliance Exchange <http://ds.dial.pipex.com/jhalsey/> Financial Conduct Authority <http://www.fca.org.uk/> Prudential Regulatory Authority <http://www.bankofengland.co.uk/PRA/Pages/default.aspx> -567 Business Ethics Magazine business-ethics.com/ Institute of Business Ethics <https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=5&cad=rja&sqi=2&ved=0CEsQFjAE&url=http%3A%2F%2Fwww.ibe.org.uk%2F&ei=-CKdUvanF8SShQeMmYCgCg&usg=AFQjCNEtpz5mK0p_F-16Ew2Eq2YBAkLGgQ&sig2=RZAcQaHUOW8FbdXXtfY0Fg&bvm=bv.57155469,d.ZG4> www.ibe.org.uk/

Transferrable Skills

By the end of this module students will have been given the opportunity to develop their group work, oral, written and critical thinking skills. The reflective assessment will help foster a considered approach to the general subject area of the module and to their personal performance in the group work exercise.

Module Structure

Activity Total Hours
Assessment (FT) 40.00
n/a 116.00
n/a 22.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 40.00 35% Report 1,500 words
Course Work 02 n/a 10.00 35% Individual Essay (1000 words)
Course Work 03 n/a 50.00 35% Report 2,000 words.