jibs prospectus 2012

www.jerseyibs.com

JERSEYINTERNATIONALBUSINESSSCHOOL.PROSPECTUS2012

FACULTY OFLEADERSHIP &MANAGEMENT

Jersey International Business School | Prospectus 2012 | www.jerseyibs.com | [email protected] | +44 (0) 1534 816333

Colin Powell CBE, Adviser – International Affairs, Chief Minister’s Department – speaking at this year’s inaugural Jersey International Business School’s Private Wealth Management Conference.

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JERSEY INTERNATIONAL BUSINESS SCHOOL | PROSPECTUS 2012

+44 (0) 1534 816333 | [email protected] | www.jerseyibs.com | Prospectus 2012 | Jersey International Business School

COURSE INDEX 4

BUSINESS WRITINg 19

COMPLIANCE / RISk MANAgEMENT 23

CUSTOMER SERvICE 36

EMPLOYEE BENEfIT TRUSTS 39

fACULTY Of LEADERSHIP & MANAgEMENT 43

fINANCIAL CRIME PREvENTION 59

gOvERNANCE 75

INvESTMENT BUSINESS 79

INvESTMENT fUNDS 89

TAXATION 99

TRUST AND COMPANY MANAgEMENT 105

IN-COMPANY TRAININg and e-LEARNINg 133

EvENTS 139

CONTENTS The Jersey International Business School 3

Accrediting Bodies and Awarding Bodies 8

Jersey International Business School Academy 11

Jersey International Business School Lecturers 12

faculty of Leadership & Management Lecturers Faculty ofLEADERSHIP &MANAGEMENT 13

Corporate Partnership Programme 14

Corporate Social Responsibility 16

“If I am passionate about anything, it is the need to help all our people to develop and have long and successful careers in an ever more competitive international world. That is our aim.”Philip Taylor Non-Executive Chairman, Jersey International Business School

2 Jersey International Business School | Prospectus 2012 | www.jerseyibs.com | [email protected] | +44 (0) 1534 816333

Welcome to the 2012 Prospectus of the Jersey International Business School. Now in its second year, the Business School has trained over 3,000 students, studying for degree programmes through to attendance at continuing professional development sessions. In addition, the School has delivered over five hundred in-company training sessions around the world, and facilitated e-Learning solutions to businesses in eight jurisdictions.

In 2012, the School will offer 2 degrees in association with The University of Manchester Business School, 28 professional qualifications, 10 Certificated Awareness Programmes and over 40 short courses.

As the exclusive provider of a host of globally-recognised qualifications including the Central Law Training programmes leading to the Society of Trust and Estate Practitioners qualifications, and the International Compliance Association qualifications, we aim to be the leading business education provider in the Channel Islands.

I am proud that the School has established a new Faculty of Leadership & Management chaired by Miles Templeman, the former Director General of the Institute of Directors. The Faculty includes a number of leading tutors in their respective disciplines.

Jersey International Business School is made up of a very talented group of people including a number of exceptional lecturers and an administration team dedicated to the highest standards of customer service and event organisation. It is also supported by an exceptional Board of Directors. I would like to take this opportunity to thank them for their hard work, support and ongoing commitment.

In a global knowledge economy the future of the Jersey economy depends almost entirely upon the quality and sophistication of its skills base. The Island can no longer compete on price or tax. It faces increasingly stiff competition from other international finance centres, notably Switzerland, Hong Kong and Singapore, all of which have highly-skilled work forces. The Business School meets the Island’s need for robust, credible and quality business education. We look forward to working with you in 2012.

Philip Taylor Non-Executive Chairman

THE JERSEY INTERNATIONAL BUSINESS SCHOOL

WELCOME WHAT’S NEW fOR 2012? At the Jersey International Business School we constantly innovate and explore new ways to deliver quality educational opportunities and contribute to critical analysis on issues that affect businesses. 2012 promises to be a very exciting year at the School with the following new initiatives:


We believe that to prosper, Jersey businesses must invest not only in technical training but in leadership and management skills. For that reason, we have established a new faculty dedicated to delivering the highest quality training opportunities in those disciplines. The Faculty is chaired by Miles Templeman, the recently-retired Director General of the Institute of Directors, and features a number of tutors who are world-renowned experts in their specialist fields.

The Faculty will initially offer three new programmes as follows: • Directors’ Awareness Programme and

Certificate • High Potential Leadership Programme • Management Skills Development Programme

JIBS Academy

The Jersey International Business School Academy is a new limited guarantee entity that exists solely to bestow new educational awards on students. The Academy is chaired by Professor David Jackman.

The first Academy educational award is the Directors’ Awareness Certificate.

A new business journal from the Jersey International Business School

Supplementing our many conferences and other events, at which students critically analyse important issues, we are launching a new periodical. The journal will contain in-depth articles, providing more than just superficial treatment of topics affecting businesses. Articles and features will be contributed by subject specialists and guest authors.Stephen Platt

Executive DirectorJohn Boothman Non-Executive Director

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PROfESSIONAL QUALIfICATIONS

COURSE INDEX: DEgREE PROgRAMMES

PROFESSIONAL QUALIFICATIONS PAGE TITLE

ComplIAnCe / RISk mAnAgement 24 International Compliance Association Qualifications – Quality Assurance

26 ICA International Diploma in Compliance

28 ICA International Certificate in Compliance Awareness

29 ICA International Advanced Certificate in Compliance and Financial Crime

FACulty oF leADeRSHIp & mAnAgement 46 CMI Level 2 Diploma in Team Leading Faculty ofMANAGEMENT& LEADERSHIP

47 CMI Level 3 Diploma in First Line Management Faculty ofMANAGEMENT& LEADERSHIP

50 CMI Level 5 Diploma in Management Faculty ofMANAGEMENT& LEADERSHIP

51 CMI Level 7 Certificate/Diploma in Strategic Management and Leadership Faculty ofMANAGEMENT& LEADERSHIP

FInAnCIAl CRIme pReventIon 61 International Compliance Association Qualifications – Quality Assurance

62 ICA International Diploma in Anti-Money Laundering

64 ICA International Diploma in Financial Crime Prevention

66 ICA International Certificate in Anti-Money Laundering Awareness

67 ICA International Certificate in Financial Crime Awareness

InveStment BuSIneSS 80 CISI Investment Operations Certificate (IOC)

81 CISI Risk in Financial Services Qualification

82 CISI Private Client Investment Advice & Management (PCIAM)

83 CISI Investment Advice Diploma (IAD)

84 CII Diploma in Regulated Financial Planning

85 CFA Investment Management Certificate (IMC)

InveStment FunDS 90 CLT Fund Administration: Advanced Certificate in Fund Administration

93 CLT Fund Administration: Diploma in Fund Administration

tRuSt AnD CompAny mAnAgement 108 STEP Foundation Certificate & Diploma in International Trust Management

112 STEP Foundation Certificate in International Trust Management

114 STEP Diploma in International Trust Management Trust Creation: Law and Practice

118 STEP Diploma in International Trust Management Company Law and Practice

122 STEP Diploma in International Trust Management Trust Administration and Accounts

126 STEP Diploma in International Trust Management Trustee Investment and Financial Appraisal

DEGREE PROGRAMMES PAGE DEGREE DURATION

ComplIAnCe / RISk mAnAgement 25 BSc (Hons) Management with Compliance 24 Months

tRuSt AnD CompAny mAnAgement 106 BSc (Hons) Management with Trusts and Estates 24 Months


JfSC TCB QUALIfICATION TABLES 4 AND 5The following qualifications are currently included or recently proposed to be included in either the JFSC Qualification Tables 4 or 5 for the TCB sector. For the qualification requirements in other industry sectors, JIBS recommend that students check the relevant codes of practice on the JFSC website, specifically the section on integrity and competence.

TABLE 4 BSc (Hons) Management with Compliance BSc (Hons) Management with Trusts and Estates ICA International Diploma in Compliance ICA International Diploma in Anti-Money Laundering ICA International Diploma in Financial Crime Prevention CLT Diploma in Fund Administration STEP Diploma in International Trust Management

TABLE 5 ICA International Advanced Certificate in Compliance and Financial Crime CLT Advanced Certificate in Fund Administration STEP Foundation Certificate in International Trust Management

CERTIfICATED AWARENESS PROgRAMMES (EACH INDIvIDUAL SEMINAR MAY BE TAkEN AS A SHORT COURSE)

PROGRAMMES PAGE COMPONENTS DURATION/COST

ComplIAnCe RISk FunDAmentAlS

Supported by the Jersey Compliance officers Association

30 Seminar 1: The Regulatory EnvironmentSeminar 2: The Jersey Financial Services CommissionSeminar 3: Defining Compliance RiskSeminar 4: The Role of the Compliance Function – Part 1Seminar 5: The Role of the Compliance Function – Part 2Seminar 6: The Link between Compliance and Effective Corporate GovernanceSeminar 7: Preparing for and Managing a Commission VisitSeminar 8: Handling Enforcement ActionSeminar 9: Managing the Risk of Human ErrorSeminar 10: Extra-Territorial Compliance Risks

10 x 2 HoursProgramme: £795 Per seminar: £95

employee BeneFIt tRuStS AnD SHARe plAnS

40 Seminar 1: Introduction to Employee Benefit TrustsSeminar 2: Share Plan Design and ImplementationSeminar 3: Approved Share PlansSeminar 4: Unapproved Share PlansSeminar 5: Share Plan Administration and the Role of the Trustee


FInAnCIAl CRIme pReventIon FunDAmentAlS


68 Seminar 1: Criminal Vulnerabilities of Financial Services and ProductsSeminar 2: Corruption and PEP RiskSeminar 3: The (A)ngola–(Z)imbabwe of SanctionsSeminar 4: US Extra-TerritorialitySeminar 5: Market AbuseSeminar 6: Fraud RiskSeminar 7: Money Laundering and Terrorist FinancingSeminar 8: How to Due Diligence and Risk Profile ClientsSeminar 9: Effective SAR Reporting Seminar 10: Analysing Financial Crime Examples


ACHIevIng eFFeCtIve CoRpoRAte goveRnAnCe

76 Seminar 1: What is Corporate Governance? Seminar 2: Corporate Governance as a Risk Management ToolSeminar 3: The Board and Corporate GovernanceSeminar 4: StakeholdersSeminar 5: Engendering a Positive Corporate Governance Culture


InveStment BuSIneSS

86 Seminar 1: Bonds & How They WorkSeminar 2: How to Carry Out a Portfolio ReviewSeminar 3: Investment Risk for TrusteesSeminar 4: The Role of a CustodianSeminar 5: Investment Sales TipsSeminar 6: Basic Financial MathsSeminar 7: Financial MarketsSeminar 8: Fundamentals of Offshore FundsSeminar 9: Understanding Investment Risk with Clients


uk tAx pRogRAmme 100 Seminar 1: UK Income Tax Unit 1 (Introductory)Seminar 2: UK Income Tax Unit 2Seminar 3: UK Capital Gains Tax Unit 1 (Introductory)Seminar 4: UK Capital Gains Tax Unit 2Seminar 5: UK Inheritance Tax Unit 1 (Introductory)Seminar 6: UK Inheritance Tax Unit 2


oFFSHoRe tAx pRogRAmme

101 Seminar 1: Offshore Income Tax Unit 1 (Introductory) Seminar 2: Offshore Income Tax Unit 2 Seminar 3: Offshore Capital Gains Tax Unit 1 (Introductory) Seminar 4: Offshore Capital Gains Tax Unit 2 Seminar 5: Offshore Inheritance Tax Unit 1 (Introductory) Seminar 6: Offshore Inheritance Tax Unit 2

6 x 2 Hours Programme: £625 Per seminar: £125

PAGE TITLE DURATION


45 JIBS Management Skills Development Programme 6 Months

52 JIBS High Potential Leadership Programme 9 Months

54 JIBS Directors’ Awareness Programme and Certificate JIBS Academy 4 Months

LEADERSHIP & MANAgEMENT PROgRAMMES AND AWARDS

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SHORT COURSES PAGE TITLE DURATION/COST

BuSIneSS WRItIng 20 Business Writing ½ day / £155

20 Report Writing ½ day / £155

21 Taking Minutes at Meetings ½ day / £155

ComplIAnCe / RISk mAnAgement


32 Compliance Officer Induction 1 day / £295

32 Compliance Officer Update 1 day / £295

33 How to Design and Manage a Risk Management Framework ½ day / £155

33 How to Due Diligence Clients ½ day / £155

34 Influencing the Ethical Culture of an Organisation ½ day / £155

34 Introduction to Operational Risk 1 day / £295

CuStomeR SeRvICe 37 Developing Effective Customer Service 2 day / £425

FInAnCIAl CRIme pReventIon


70 Introduction to Anti-Money Laundering and CTF ½ day / £155

70 Advanced Anti-Money Laundering and CTF 1 day / £295

71 MLRO and MLCO Induction 1 day / £295

71 HIRE Act – Are You Prepared? ½ day / £175

72 Sanctions Boot Camp 4 hours / £225

72 SARs – Theory and Practice 1 day / £295

73 MLRO/MLCO Masterclass with Gareth Rees QC & Stephen Platt 1 day / £345

73 Introduction to Operational Risk 1 day / £295

goveRnAnCe / DIReCtoRS tRAInIng 77 Directors’ Duties 1 day / £295

77 Corporate Governance in Regulated Financial Services Businesses ½ day / £155

InveStment BuSIneSS 87 Understanding Securities Markets 1 day / £295

87 Introduction to Banking ½ day / £155

InveStment FunDS 97 Fundamentals of Fund Administration 2 days / £595

98 Compliance in Fund Administration 1 day / £295

tAxAtIon 102 Introduction to UK Tax ½ day / £155

102 International Taxation 1 day / £295

tRuSt AnD CompAny mAnAgement 129 Introduction to Trust Law and Administration 1 day / £295

129 Introduction to Company Law and Administration 1 day / £295

130 Introduction to Foundations ½ day / £155

130 The Effective Company Secretary 1 day / £295

131 Advanced Trust Law and Administration 1 day / £295

131 Advanced Company Law and Administration 1 day / £295

132 Introduction to the Offshore Finance Industry ½ day / £155

PAGE EVENT DATE

2011–2012 SeRIeS 140 Club (N)ED – A New Concept in Executive and Non-Executive Director Support

From October 2011

ConFeRenCe 142 7th Annual Compliance and Economic Crime Symposium 9 November 2011

ConFeRenCe 144 JIBS Annual Leadership Forum 22 November 2011

oveRvIeW 146 2012 Highlights From March 2012

PAGE COURSE

134 In-Company Training Solutions

136 e-Learning Anti-Money Laundering for Trust and Corporate Service Providers

SHORT COURSES (Also refer to Certificated Awareness Programmes)

EvENTS

IN-COMPANY TRAININg and e-LEARNINg


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JIBS is an independent provider of professional qualifications and training courses located in the heart of St Helier.

Accredited by a number of professional bodies, the School has rapidly developed a reputation for excellence in meeting the Island’s learning and development needs.

The International Compliance Association (ICA) is committed to increasing knowledge and

professionalism throughout financial services, all over the world. The ICA believes in investing in staff as part of an integral approach to combat the increasing risks to our industry.

The Chartered Management Institute (CMI) is the leading organisation

representing professional management. It is the only chartered body specialising in management and leadership in the UK. The CMI literally sets national standards. Jersey International Business School is a CMI Approved Centre.

The Chartered Institute for Securities & Investment is the largest and most widely respected professional body

for those who work in the securities and investment industry in the UK, as well as a growing number of major financial centres round the world. Formed in 1992 by the London Stock Exchange practitioners, it now has more than 40,000 members in 89 countries.

ACCREDITINg BODIES AND AWARDINg BODIES

The courses offered by the Jersey International Business School have been accredited for Continuing Professional Development purposes by the following bodies:

The following organisations are leaders in the award of professional qualifications designed to promote competence and high professional standards in a variety of industry sectors.

JIBS is the nominated degree centre for the Manchester Business School, which is part of the

University of Manchester – one of the UK’s original ‘redbrick’ universities. With a distinguished history, and boasting 25 Nobel Laureates amongst its current and former staff and students, the School has over 30,000 alumni based in over 40 countries.

International Compliance Training (ICT) is the exclusive training arm of the

International Compliance Association. They offer certificated courses leading to professional qualifications in the fields of anti-money laundering, compliance and financial crime prevention. For beginners and experienced practitioners alike, ICT courses increase knowledge, improve skills and enhance understanding.

The ICA qualifications are offered in association with the Manchester Business School under a quality assured educational partnership.

CLT is a major specialist provider of professional training for legal, corporate, financial, property, human resource, and

other professional sectors. Over 100,000 delegates attend CLT’s training programmes worldwide every year.

STEP is the professional body for the trust and estate profession and currently has in excess

of 16,000 members worldwide. STEP has a substantial number of branches throughout the world. A full list of branches and their contact details can be found at www.step.org/branches

The Chartered Management Institute (CMI) is the leading organisation

representing professional management. The CMI is the only chartered body specialising in management and leadership in the UK. The CMI literally sets national standards.

The Chartered Institute for Securities & Investment is the largest and most widely respected professional body

for those who work in the securities and investment industry in the UK, as well as in a growing number of major financial centres round the world. Formed in 1992 by the London Stock Exchange practitioners, it now has more than 40,000 members in 89 countries.

The CFA Society of the UK (CFA UK) is a not-for-profit

membership organisation representing more than 9,500 individuals in the investment profession.

CFA UK is the awarding body for the Investment Management Certificate (IMC) – the profession’s benchmark entry-level qualification used by many leading investment firms to demonstrate competence for regulatory purposes.

The Chartered Insurance InstituteThe CII is the premier professional organisation for those working in the insurance and financial services industry. It is dedicated to promoting higher standards of competence and integrity through the provision of relevant qualifications for employees at all levels and across all sectors.

JIBS Academy The Jersey International Business School Academy is a newly established awarding

body that has the award of professional qualifications and educational certificates as its sole statutory objective. The Academy is a not-for-profit company, limited by guarantee.

In each case, educational programmes leading to the award of its qualifications and certificates are delivered through the related training arm of the Academy, the Jersey international Business School.


http://www.step.org/branches

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“Just a quick note to say that the AML Training was the best ever. Jo made it ‘interesting’ and I can safely say that she held the attention of everyone in the room for the whole session. She is brilliant.”JIBS Student


pRoFeSSoR DAvID JACkmAn Academy Chairman

David formed part of the management team that established the FSA – having held related roles in IMRO, SFA, the London Stock Exchange and initiating the Securities Institute. As the FSA Head of Training and Competence and Business Ethics, he was the architect of a values-based approach to regulation, publishing ‘An Ethical Framework for Financial Services’. The approach now underpins Principle Based Regulation in several jurisdictions, the FSA’s Treating Customers Fairly (TCF) and the Retail Distribution Review (RDR).

As Visiting Professor, David established the London Financial Academy for London Metropolitan University. He is now a member of the Centre for Research into Sustainability School of Management (CRIS), Royal Holloway, University of London.

The Ethics Mark and The Ethics Foundation, founded by Professor David Jackman, promote values-led businesses while the Twenty First Century Charter, launched at the House of Commons in 2009, is designed to encourage individual commitment. In 2011, he started the World Open Forum.

David lectures internationally, notably at the Asian Sustainability Summit (Delhi), Beijing and the EABIS colloquium in Barcelona, and writes in a range of publications, including The Times, The Financial Times and industry journals.

JERSEY INTERNATIONAL BUSINESS SCHOOL

ACADEMYJIBS Academy

The Jersey International Business School Academy is a newly-established awarding body that has the provision of professional qualifications and educational certificates as its sole statutory objective. The Academy is a not-for-profit company, limited by guarantee.

In each case, educational programmes leading to the award of its qualifications and certificates are delivered through the related training arm of the Academy, the Jersey International Business School.

The Academy is chaired by Professor David Jackman, and has a dedicated secretariat with a set of comprehensive rules and regulations governing examinations.

The policy objectives of the Academy are:

• To establish, maintain and raise standards for professionals through education, training and examination programmes

• To promote ethical business conduct by encouraging students to conduct business with integrity, diligence and professionalism

• To promote training courses and events as mechanisms for the exchange of information and ideas between students, domestically and internationally

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JERSEY INTERNATIONAL BUSINESS SCHOOL LECTURERS

Jo FRenCHDirector of Education/Senior Lecturer

Jo has worked in offshore financial services since 1988 and qualified as a Chartered Secretary in 1991. She later joined BPP Professional

Education as a senior lecturer and ICSA Programme Manager where her students won many of the international prizes. Jo has also taught on CAT, ATT and ACCA, and developed in-house CPD programmes. Jo lectures outside of Jersey and for the BBA.

In recognition of her work in developing the ICSA Certificate and Diploma in Offshore Administration, she was made a Fellow of the Institute of Chartered Secretaries in 2002. She has also been a member of STEP since 1998. She currently teaches on the ICA programmes.

CHRIS uSHeRDirector of Client Relations/ Senior Lecturer

Chris has over 15 years’ experience in financial services, working both in the UK and offshore, for major financial

institutions such as Barclays Wealth and Santander. Chris now specialises in delivering training in investment management, taxation and regulatory issues. Formerly an International Investment Manager he advised both individuals and corporate entities on complex investment scenarios.

Chris has also provided support and advice to financial services companies in response to the Retail Distribution Review (RDR) regulations introduced by the FSA and the RFA by the Jersey Financial Services Commission.

emmA BouStouleRSenior Lecturer

Before joining the Business School, Emma had over ten years experience of working with Employee Benefit Trusts and share plans, most recently at

HBOS where she was a Training Consultant with responsibility for the design and delivery of technical training for new and existing employees. Prior to this she worked in a number of roles at Mourant Employee Compensation Solutions including that of a Senior Account Manager. Emma is a qualified Chartered Secretary.

RAInee RICeLecturer

Rainee has over 30 years’ experience working with leading law firms in Australia and Jersey. In 2000 she joined Bailhache Labesse in Jersey, which

later became Appleby Global where she was responsible for the administration of high volume residential property transactions.

In Australia, she also ran a successful direct selling business based on sales incentives, front line management and team dynamics. Rainee qualified as a Life Long Learning Tutor in Adult Education in 2009 and now brings her tuition to the Business School under the Chartered Management Institute (CMI) programmes.

StepHen plAtt Executive Director/Associate Lecturer

Stephen is one of the world’s leading risk management practitioners in the financial services sector. He is the principal author of the International

Compliance Diploma Programmes in Compliance and Anti-Money Laundering Prevention.

SAlly gAllICHAnAssociate Lecturer

Sally has over 20 years’ experience of the operational and strategic HRD environment with a particular interest in learning and development and employability. She

worked within the commercial and finance sectors before moving to the JFSC as Head of HR.

As a qualified PRISM practitioner Sally is especially interested in understanding and managing behavioural issues in the workplace.

She is also a qualified HRD practitioner, CMI and NVQ Assessor/Internal Verifier for business and management awards.

nICole SvAtekAssociate Lecturer

Nicole was formerly the Head of Human Factors at Virgin Atlantic Airways. Her remit included flight crew, cabin crew and engineering Human Factors programmes

and all internal HF accident and incident investigations. Nicole was one of the original members of the International Air Transport Association’s (IATA) Human Factors Committee, and was seconded as their representative to the International Civil Aviation Organisation (the aviation branch of the UN) to become a member of the working group that authored the ICAO Human Factors Digests. She was also one of three authors of the IATA Guidelines in Flight Safety Methodologies in 1991.

DAvID loADeRAssociate Lecturer

David has been involved in the financial markets for over 27 years, with particular focus on the operations, administration and settlement of securities and derivatives.

He has considerable senior management experience and was Director of SG Warburg Securities Ltd, Operations Director of Warburg Futures and Options Ltd, and Director Exchange Traded Derivatives at SBC. David is an experienced trainer specialising in topics such as Operational Risk, Clearing & Settlement, Custody, Fund Administration, Derivatives Operations, Corporate Actions and Securities Lending.

pHIl HogAnAssociate Lecturer

As a qualified CMI and ILM practitioner, Phil provides a wide range of employer-led Leadership and Management solutions. He is currently contracted as a National

Business and Qualifications Consultant for a UK-based learning and knowledge based e-solutions provider. He designs, develops and delivers a range of vocational programmes across the UK, Northern Ireland and into the Middle East. Phil also advises and supports both public and private sector clients in Quality Assurance issues in their delivery of Leadership and Management provision.



faculty of Leadership & Management Lecturers

mIleS templemAn (Faculty Chairman)

The former Director General of the IoD, Miles began his career as a marketing specialist and then held a series of non-executive directorships and consultancy roles.

StepHen plAttLecturerStephen is the Principal of Stephen Platt & Associates LLP, a firm specialising in Risk and Governance services for the financial services industry. He is an Adjunct

Professor at the Graduate School of Law at Georgetown University, Washington D.C., a Director of the Jersey International Business School, practising English Barrister at 23 Essex Street and the founder of the global AML online community, KYC360.

Stephen acts for institutional clients and regulatory authorities globally. With additional expertise in sanctions, he regularly advises some of the world’s largest non-US banks on the risks of criminal and civil liability resulting from breaches of Office of Foreign Assets Control (OFAC) sanctions and Anti-Terror Act Legislation.

Stephen’s expertise is recognised by the British Bankers’ Association through which he delivers a range of risk management and sanctions training programmes to the banking industry in the UK.

AnDReA RoBottom LecturerAndrea Robottom runs a boutique consultancy specialising in organisational development and change. She operates on an international basis with large multinational clients.

Prior to setting up NoNonsense Consulting in 2009, Andrea had a successful international career with her final corporate role being as the Global Head of Organisation Development for Cadbury plc. In this senior executive role, Andrea was responsible for organisational development, structural evolution and culture, and was a member of the global HR leadership team. Before joining Cadbury, Andrea was Vice President HR for Pepsico’s European Beverages division, which she joined in 2001 after four years at Seagram Distillers, and seven years at Compaq Computer.

nIColA lInColnLecturerDr Nicola Lincoln is an Occupational Psychologist with 15 years’ experience of consulting to large multi-national clients, such as the World Economic Forum, Hewlett Packard,

Kraft and Bank of New York Mellon. Over this time she gained a reputation for her honest, straightforward approach to the complex intra and interpersonal issues that affect organisational performance. Nicola’s current work is primarily related to leadership coaching and talent development – seeking to support current, and nurture future, leaders of industry.

mARgARet Allen LecturerMargaret Allen has over 15 years’ experience as a business facilitator, coach and development practitioner operating in corporate, commercial and service environments. Her

background is in HR where she was previously HR Director for Anheuser Busch Europe. Margaret has a passion for learning and development, is a member of the CIPD, and as an experienced facilitator has trained with both FranklinCovey and Zenger Miller. Eleven years ago, she set up and established a facilitation, coaching and consultancy business, which has given her experience of small and large organisations in both private and public sectors.

CHRIS uSHeRLecturerBefore joining the Business School, Chris managed various teams within major financial services organisations. With over 15 years’ experience working

both in the UK and offshore, Chris led teams for Santander and smaller specialist providers to achieve excellent results. During his time with the School, Chris has been heavily involved with major local banks and businesses in order to help them achieve success in relation to team development.

As Programme Director for the Chartered Management Institute (CMI) at JIBS, Chris is involved in ensuring delegates have a world class learning experience and gain the best possible knowledge and skills in order for them to achieve their aims.

kAte AntHony WIlkInSon LecturerKate is a Solicitor in England and Wales with over 17 years’ experience. Her roles include European Counsel for Lawson Mardon; Legal

Counsel for the Swiss-listed Alusuisse-Lonza Group; Head of Legal UK for the Canadian-listed Alcan Group; and Company Secretary of British Alcan Aluminium Plc.

She is currently Head of Group Legal and Company Secretary at Mulberry Group Plc, a UK AIM-listed luxury goods manufacturer, and has held a number of positions as Director, Trustee Director and Company Secretary for a variety of large pension plans.

WIllIAm nIgglILecturerWilliam spent 20 years training pilots at Swissair, which included Human Factors as an integral part of the training programme. During the last ten years, he has delivered

leadership training and customer care courses in Asia – mainly in China, Korea and Hong Kong – and as a regular tutor at University College Cork, Ireland. He strongly believes in sharing knowledge in an open, non-threatening environment. This approach helps to reach effective solutions to the challenges facing global businesses management.

RICHARD SmeRDonLecturerRichard was formerly senior partner of the European law firm Osborne Clarke. He is a specialist in corporate governance, a former member of the American

Bar Association sub-committee on international developments in corporate governance, and is currently the rapporteur to the All Party Parliamentary Corporate Governance Group.

Author of A practical guide to corporate governance (Sweet & Maxwell), Richard is editor of the Wolters Kluwer UK group/CCH publication Corporate Governance Handbook and lecturer on the FT programme, ‘So you want to be a non-executive director’.

He sits on the editorial board of the Wolters Kluwer UK Corporate Practice Service and is a Non-Executive Director of ‘The Genesis Initiative’, a group comprising both parliamentarians and over 100 SME trade associations.

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CORPORATE PARTNERSHIP PROgRAMME

CORPORATE PARTNERS 2011/12We are very grateful for the ongoing support of our Corporate Partners, all of whom are dedicated to skills development in Jersey • AIB• AltisPartners• Appleby• BarclaysWealth• BNPParibas

• Citi• CronusConsultancyLtd• DominionCorporateGroup• HeraldGroup• HSBC• ImmediateImpactLtd• LloydsTSBOffshore• MooreGroupServices

• Ogier• Quilter• RathboneInvestmentManagement

International• RBC• RossboroughGroup• SGHambros• UBS

WHAt IS tHe CoRpoRAte pARtneRSHIp pRogRAmme?

We want to build a mutually beneficial, long-term relationship with reputable employers

in Jersey through our Corporate Partnership Programme.

Our Corporate Partners will be part of an elite group spanning a range of financial services and industry sectors. In spite of this diversity, they share a commitment to investing in the skills of their workforce and thus of Jersey as it competes in a global knowledge economy. In so doing, our Corporate Partners create value both for their organisations and the community.

Membership of the Corporate Partnership Programme is for a one year renewable term.

BeneFItS FoR CoRpoRAte pARtneRS

Membership of the Corporate Partnership Programme gives your company an opportunity to demonstrate its commitment to the academic excellence that we hope will become synonymous with the Jersey International Business School.

A key aspect of membership is a managed relationship that ensures you get individual attention from us at all times. This means that your company gets a sound return on its investment and we get the benefit of your experience and vision.

Our Corporate Partners enjoy:• A15%discountonthecostofallshort

courses and Certificated Awareness Programmes(risingto25%discountfor5ormore bookings made at the same time, in any combination)

• A10%discountonallFacultyofLeadership&Management programmes

• A5%discountonthecostofallProfessionalQualifications.*

• OnecomplimentaryinvitationtotheJIBSAnnual Leadership Forum (see page 144)

• OnecomplimentaryinvitationtotheJIBSAnnual HR Forum (see page 146)

• Increasedprofileresultingfromidentificationon the JIBS website and literature as a Corporate Partner

• ApprovedusageoftheJIBSCorporatePartner logo

• DiscounteduseofBusinessSchooltrainingfacilities for in-house training or strategy events

*InthecaseofSTEPqualifications,the5%discount is applicable subject to a minimum of three STEP Programme delegates registering for the same paper at the same time.

Discounts may not be used in combination with any other offer.

The Jersey International Business School’s Corporate Partnership Programme is a way of enabling businesses to invest in their employees, fund the cost of educational bursaries and benefit from a range of discounted pricing solutions on short courses, programmes and professional qualifications.


BeneFItS FoR JIBS

The success of JIBS will be measured by reference to overall student numbers and the number of students who are awarded professional qualifications.

JIBS will benefit as follows:• Fromtheinputandguidanceprovidedby

employers to its Prospectus• FromtheactiveparticipationofCorporate

Partners in its alumni and faculty• FromtheuseoftheannualCorporatePartner

fee to subsidise the JIBS Student Bursary Scheme*

A minimum of two bursaries will be offered initially. The actual number of bursaries will depend on the number of Corporate Partners.

*The JIBS Student Bursaries will be awarded to applicants wishing to pursue a course of professional study, but whose personal financial circumstances prevent them from doing so. Full details of the Bursary Scheme are available on the JIBS website.

CoSt oF CoRpoRAte memBeRSHIp pRogRAmme

In the interest of fairness we recognise that in real terms the discounts available through the Corporate Partnership Programme will potentially be of greater value to organisations with larger numbers of employees. The annual cost of membership of the Programme is, therefore, tiered as follows:• Smallbusinesses

(1–24 employees) – £500• Mediumbusinesses

(25–100 employees) – £1000• Largebusinesses

(101+ employees) – £1500

To preserve the confidentiality of employee numbers, Corporate Partners will not be publicly identified as small, medium or large. All Corporate Partners will receive equal profile in JIBS literature and online.

JeRSey InteRnAtIonAl BuSIneSS SCHool BuRSARy SCHeme

The Jersey International Business School seeks to attract the brightest students irrespective of their ability to pay for a course of study. Through the generosity of our Corporate Partners and learning suppliers, JIBS offers financial support to students through a Bursary Scheme. The scheme is open to students and prospective students from Jersey who wish to pursue specified courses of study through JIBS which lend to a professional qualification.

Further information about the JIBS Bursary Scheme may be found on www.jerseyibs.com

“Citibank’s commitment to education and training allowed me to experience a range of support through our corporate partner relationship with JIBS.”farook Sheikchan, Corporate Partner Associate at Citi Private Bank

15



CORPORATE SOCIAL RESPONSIBILITY

SuppoRtIng tHe CommunIty

Centre Point TrustCharity begins at home for the Jersey International Business School. We are pleased to donate £1 per

enrolment on any short course, programme or professional qualification to Centre Point Trust.

BursariesThe Business School is committed to the principle of access to quality, professional education irrespective of ability to pay. JIBS has a rolling Bursary Scheme through which successful applicants may obtain subsidy in pursuit of a professional qualification.

Jersey employers’ network on DisabilityBy working together with a growing number of

employers and in partnership with local support agencies, JEND enables an increasing number of disabled individuals to remain in work, return to work or gain employment.

Branchage Film FestivalThe School was delighted to be able to support the Branchage Film Festival in its 4th year. From

hosting a series of workshops at the school across the weekend, to supporting a screening of the award-winning documentary ‘Inside Job’ at the Jersey Arts Centre. This film was followed by a panel discussion comprised of industry leaders, moderated by Stephen Platt.

Our policy: JIBS is committed to act as a responsible ‘corporate citizen’. The JIBS Board of Directors recognise that the manner in which JIBS operates can positively or adversely impact society, the Jersey economy and the environment.

Philip Taylor, Non‑Executive Chairman of Jersey International Business School, presents a cheque to Jane Moy of Centre Point Trust at the School’s first birthday celebration in March 2011

Jeremy Swetenham, Chairman of Branchage Film Festival, mingles with guests at JIBS

JIBS 1ST BIRTHDAY 20

11. J

IBS

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Centre Point Trust is a children’s charity that strives to support working parents by providing low-cost, flexible, quality child care every working day from 7.30am to 6.00pm.

It offers activities and opportunities to challenge and stimulate the children.

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BUSINESS WRITINgSHORT COURSES

BUSINESS WRITINg 20

REPORT WRITINg 20

TAkINg MINUTES AT MEETINgS 21

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+44 (0) 1534 816333 | [email protected] | www.jerseyibs.com | Prospectus 2012 | Jersey International Business School 19+44 (0) 1534 816333 | [email protected] | www.jerseyibs.com | Prospectus 2012 | Jersey International Business School


BUSINESS WRITINg REPORT WRITINg

OvERvIEWThis half-day programme aims to equip delegates with the essential skills necessary for successful written communication in business.

The course is highly interactive, providing delegates with opportunities to practise the skills learned.

COURSE CONTENT • What is business writing? • Dangers of the written word • First impressions • Understanding the purpose • Understanding the reader • Structure • Setting the tone • Punctuation and grammar • Email etiquette

LEARNINg OUTCOMESThis course is designed to combat fears and encourage confidence in writing skills, particularly aiming to improve the reader response by using the correct tone and language.

OvERvIEWThis half-day programme aims to provide delegates with the essential skills for successful report writing.

The training will focus on analysing the needs of the audience, in order to meet their needs in the most appropriate way.

COURSE CONTENT

LEARNINg OUTCOMESDelegates will explore the logical sequence of report writing and have tips and techniques provided to create greater impact for readers.

RepoRtS AnD tHeIR uSeS • Different types of reports • Objectives of reports

plAnnIng • Mind-mapping and brainstorming • Linking ideas and phrases • The rhetorical triangle: writer,

audience, subject

WRItIng tHe RepoRt – StRuCtuRe • Ten parts of a report • The principles of writing: pathos,

ethos, logos

• The process of writing • Creating impact

Style • House rules • Layout of text, including

paragraphing • Length • Headings • Creating interest for the reader

AFteR WRItIng • Checking the report

COURSE DETAILS DURATION: ½ day (09.15-12.15)

SUITABLE FOR: This course is suitable for junior to middle level staff.

COST: £155

DATES: Spring/Summer – 4 May 2012 Autumn/Winter – 6 November 2012


SUITABLE FOR: This course is suitable for all junior to middle level staff and especially those responsible for regular reporting to senior staff.

COST: £155

DATES: Spring/Summer – 10 May 2012

3HOURSCPD

3HOURSCPD


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OvERvIEWThis half-day workshop will provide the forum for learning and practising the skill of minute-taking.

The course is highly interactive, providing delegates with opportunities to practise the skills learned.

COURSE CONTENT • Why take minutes? • The challenges of the role • Format and layout • Capturing the data • Tools and techniques • Word abbreviation • Skills practice • Active listening • Transcribing minutes

LEARNINg OUTCOMESThe course is designed to combat fears and encourage confidence in minute-taking, particularly aiming to provide tools and techniques to more easily capture the relevant data more easily.

Made a dry topic a lot more interesting and accessible

An excellent trainer It was all useful

Overall A+


SUITABLE FOR: All staff who have regular responsibility for minute taking at client or internal meetings.

COST: £155

DATES: Spring/Summer – 14 May 2012 Autumn/Winter – 19 October 2012

3HOURSCPD

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“The educationalist in me believes passionately that knowledge is power. We aim to provide technical skills to underpin sustainable business success.”Jo french, Director of Education

22 Jersey International Business School | Prospectus 2012 | www.jerseyibs.com | [email protected] | +44 (0) 1534 81633322 Jersey International Business School | Prospectus 2012 | www.jerseyibs.com | [email protected] | +44 (0) 1534 816333

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ENTCOMPLIANCE /

RISk MANAgEMENTPROfESSIONAL QUALIfICATIONS INTERNATIONAL COMPLIANCE ASSOCIATION QUALIfICATIONS 24

BSc (Hons) MANAgEMENT WITH COMPLIANCE 25

ICA INTERNATIONAL DIPLOMA IN COMPLIANCE 26

ICA INTERNATIONAL CERTIfICATE IN COMPLIANCE AWARENESS 28

ICA INTERNATIONAL ADvANCED CERTIfICATE IN COMPLIANCE AND fINANCIAL CRIME 29

CERTIfICATED AWARENESS PROgRAMMES COMPLIANCE RISk fUNDAMENTALS 30

SHORT COURSES COMPLIANCE OffICER INDUCTION 32

COMPLIANCE OffICER UPDATE 32

HOW TO DESIgN AND MANAgE A RISk MANAgEMENT fRAMEWORk 33

HOW TO DUE DILIgENCE CLIENTS 33

INfLUENCINg THE ETHICAL CULTURE Of AN ORgANISATION 34

INTRODUCTION TO OPERATIONAL RISk 34

the Jersey Compliance officers Association support the Compliance/Risk management training and qualifications offered by the Jersey International Business School.

JCoA members are offered a special discount of 20% on JIBS Certificated Awareness programmes and short courses in this section.

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+44 (0) 1534 816333 | [email protected] | www.jerseyibs.com | Prospectus 2012 | Jersey International Business School 23



QUALIfICATIONSICA offers a wide range of qualifications in anti money laundering, compliance and financial crime prevention appropriate to the financial services sector all over the world.

For beginners and experienced practitioners alike, ICA qualifications increase knowledge, improve skills and enhance understanding. Awareness Certificate courses are designed for entry level staff who are new to a particular discipline. Content focuses on awareness and on the introduction of the key issues involved. These courses form a solid foundation for future learning. Advanced Certificate qualifications are available for those who wish to develop their understanding still further. Diploma courses are advanced graduate level qualifications designed for more senior practitioners who have already amassed a level of experience.

WORLDWIDEThe Association has invested time in developing relationships with a number of partners all over the world, where there is a synergy of objectives in the pursuit of excellence. The courses are offered across the world via International Compliance Training and other approved training providers.

QUALITY ASSURANCE • The ICA qualifications are offered in

association with the Manchester Business School under a quality assured educational partnership

• The ICA Diploma qualifications have been graded as Graduate Diplomas at Honours Level under the Framework of Higher Education Qualifications (FHEQ) produced by the Quality Assurance Agency (QAA)

• In the UK, programmes are endorsed by the British Bankers’ Association

• The ICA Diplomas are mapped against the National Occupational Standards of Competence in Compliance/Anti-Money Laundering/Countering Financial Crime produced by the Financial Skills Partnership (FSP) at Level 4, the highest professional level

• ICA qualifications are recognised as leading internationally-benchmarked qualifications that set the standards for competency in Compliance, Anti-Money Laundering and Financial Crime Prevention. They regularly appear as recommended or approved in regulators’ training manuals worldwide.

• The ICA is the government-appointed lead provider of Financial Industry Competency Standards (FICS) accredited training and assessment programmes in the field of compliance in Singapore

INTERNATIONAL COMPLIANCE ASSOCIATION QUALIfICATIONS


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BSc (Hons) MANAgEMENT WITH COMPLIANCE

COURSE DETAILS DURATION: Part-time over 24 months

LEVEL: BSc honours degree

PREREQUISITES: • TwoInternationalComplianceAssociationDiplomasineitherAnti-Money Laundering, Compliance or Financial Crime Prevention. However, a diploma-level qualification or equivalent in a financial services discipline may be considered as an alternative to a second ICA diploma • Threeyears’workexperienceinarelevantfield • AllstudentsareexpectedtohaveagoodlevelofwrittenandspokenEnglish

SUITABLE FOR: Individuals working in the following areas: Money Laundering Prevention and Reporting, Compliance, Risk, Fraud Prevention, Law, Accountancy, Regulation, Audit, Law Enforcement and Investigation.

COST: £6500

DATES: Course start date: April and September 2012 (subject to sufficient numbers) Closing date for April applications: 27th February 2012

OvERvIEWA new part-time honours degree course for compliance and anti-money laundering professionals is now available from Manchester Business School in collaboration with the School of Law at The University of Manchester.

Working closely with the International Compliance Association, this course has been developed to enable you to build upon your existing qualifications and specialist knowledge, to demonstrate excellence in your area of expertise whilst developing your management knowledge skills. This well-balanced course combines technical knowledge with practical skills to enable you to fully realise your potential.

kEY fEATURES • A flexible course normally lasting 24 months,

depending on preferences and commitments • Study is a combination of self study,

face-to-face workshops and e-learning • Workshops delivered at weekends (eight

weekends in total) • Internationally-acclaimed teaching staff • Cutting-edge technology used in the delivery

of content

kEY BENEfITS • Enhances knowledge of core management

transferable skills • Opportunity to build on previous qualifications

and specialist knowledge, resulting in a recognised qualification

• Potential for career progression • Broadened capabilities • Workshops provide the opportunity to network

with academics and fellow professionals

COURSE CONTENT • Accounting • Finance • People Management and Organisations • Management Information Systems • Strategic Management • Marketing • Law, Regulation and Risk: Regulatory Law • Law, Regulation and Risk: Principles of

Regulation and Risk Management in the Financial Services Sector

fURTHER INfORMATIONFurther information can be found at

go.mbs.ac.uk/manwcomp

Alternatively, please contact:

Sarah Mountford Programme Administrator +44 (0) 161 275 7263 [email protected]

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ICA INTERNATIONAL DIPLOMA IN COMPLIANCE

OvERvIEWAs a compliance professional, your role continues to grow in importance. The changing external environment has determined the crucial part you play in the continuing success of your firm. The daily compliance challenges you face means that the importance of having the right knowledge and skills cannot be underestimated. A professional qualification from the International Compliance Association can help you meet your responsibilities.

Over the years, compliance in the financial services sector has become the responsibility of all staff and your role has evolved to meet this change. Businesses today need fully trained people who understand laws, regulations and the rules by which their firm operates. Staff need to appreciate the important part compliance plays in protecting the business, so they too can help safeguard the reputation of the firm and minimise financial risk. Firms also need a successful company-wide compliance culture. This helps ensure all staff follow processes and procedures wherever they are in the world. A professional qualification from the International Compliance Association can help you meet this need.

The Diploma is suitable for those compliance professionals who already have some practical experience in compliance and who want to improve their knowledge. Individuals who complete the Diploma will be able to undertake their responsibilities more efficiently and effectively. By drawing upon international best practice, the Diploma helps prepare you to adapt and change to meet the challenges created by the constantly evolving external environment.

Those who have already graduated from the Diploma find that their performance in the workplace improves and opportunities for career progression are enhanced. By undertaking the ICA International Diploma in Compliance, you develop your knowledge and you help secure your firm.

PROgRAMME DETAILS DURATION: 9 months

LEVEL: A graduate Diploma at advanced level.

PREREQUISITES: Sound educational background, e.g. degree or professional qualification in an appropriate discipline or attainment of the ICA Advanced Certificate in Compliance (International or UK) or three years’ relevant work experience.

SUITABLE FOR: Compliance Officers and Professionals, Money Laundering Reporting Officers and Deputies, Money Laundering Prevention Officers and Deputies, Compliance Technicians, Risk Managers, Fraud Prevention Officers, Managers and Deputies, Managers with responsibility for internal Anti-Money Laundering, Fraud and Compliance Controls and Regulatory Representatives.

COST: £2950 (this cost may increase in 2012)

DATES: Free briefing session to find out more: 10 January 2012 Closing enrolment date: 1 March 2012 Workshop 1: 27 March 2012 Workshop 2: 15 May 2012 Workshop 3: 23 July 2012 Workshop 4: 5 November 2012 Examination: 29 November 2012


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kEY fEATURES • A graduate level programme resulting in a

professional qualification • Awarded by the ICA in association with The

University of Manchester Business School • 9 months duration • Comprehensive, detailed course materials that

can be used in the workplace • Written by experienced industry practitioners • Internationally focussed • Detailed support readings and texts • Extensive online resource materials • Dedicated tutor support

kEY BENEfITS • Improved knowledge, developed skills • Reduced reputational and financial risk for

firms • Enhanced workplace performance • Allows use of the designation Int. Dip (Comp) • Potential for career progression • Professional membership of the International

Compliance Association • Verifiable evidence of learning

PROgRAMME CONTENTThe ICA International Diploma in Compliance is comprehensive and reflects the regulatory environment today. The Diploma programme focuses on relevant international best practice, legislation and regulations. It examines the role of key players and the importance of developing networks. With course materials that are regularly updated, the Diploma focuses on current major issues that impact upon the compliance role.

A summary of the four core modules follows, but for more content details please visit the International Compliance Association website at www.int-comp.org and download the syllabus, or contact the International Compliance Association for one to be sent to you.

moDule 1: tHe RegulAtoRy envIRonment • Understanding the Regulatory Environment • Regulatory Structure • Regulators and their Powers

moDule 2: tHe ComplIAnCe FunCtIon • The Role and Skills of the Compliance Officer • Risk Management • Designing an Internal Compliance System

moDule 3: key ComplIAnCe ISSueS • Money Laundering and Terrorist Financing • Fraud Prevention • Market Fraud, Insider Dealing and Fraud

Prevention • Investigations, Enforcement and Production

Orders

moDule 4: tHe ComplIAnCe envIRonment • Corporate Governance • Ethics and Corporate Social Responsibility • Evaluating Industry Sectors

COURSE ASSESSMENT • Two pieces of assessed work are required,

contributing towards the final grade • A 3 hour 15 minute open-book examination

PROfESSIONAL QUALIfICATION AWARDThe ICA International Diploma in Compliance is awarded in association with the University of Manchester Business School. Quality assured by the University, the programme is at honours degree level, which designates the programme ‘Graduate Diploma’. The Diploma has been mapped in accordance with the Higher Education Qualification Framework. On successful completion of the Diploma, you will be eligible for membership of the ICA and can then use the designation MICA, Member of the International Compliance Association.

HOW TO APPLYApply online at www.int-comp.org or download an enrolment form and return by fax or post to:

International Compliance Training Wrens Court 52-54 Victoria Road Sutton Coldfield West Midlands B72 1SX United Kingdom

Tel: +44 (0)121 362 7501 Fax: +44 (0)121 240 3002 Email: [email protected]

COURSE ENROLMENTOnce your enrolment form has been received and processed, you will be sent your course manual and login details to access the Online Resource Centre, Knowledge Bank, Members’ Directory, etc. of the ‘Members Only’ section of the ICA website at: www.int-comp.org and the ICT website at: www.int-comp.com.

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www.int-comp.org

int-comp.com

www.int-comp.org

www.int-comp.com

ICA INTERNATIONAL CERTIfICATE IN COMPLIANCE AWARENESS

OvERvIEWGood compliance equals good business and good compliance is the responsibility of all staff. Ensuring all are trained in the compliance discipline can help you better manage your risk. The ICA International Certificate in Compliance Awareness provides a good introduction to compliance. It provides the contextual understanding your staff need to approach their responsibilities with confidence.

kEY fEATURES • An introductory level education programme

taking 1-3 months to complete • Comprehensive, detailed course materials that

can be used in the workplace • Written and delivered by experienced industry

practitioners • Extensive support and resource material • One full-day workshop (subject to sufficient

numbers) • A one-hour multiple-choice examination

PROgRAMME CONTENTmoDule 1: unDeRStAnDIng tHe RegulAtoRy envIRonment • The Objectives of Financial Services

Regulation • The Background of Regulation • The Regulatory Timeline – Significant Dates

and Pivotal Legislation • Consumer/Investor Protection

moDule 2: InteRnAtIonAl RegulAtoRy pRACtICeS • Regulators and their Powers • International Regulatory Models • Overview of Recent International Legislation

moDule 3: opeRAtIonAl ComplIAnCe • Compliance Structure • The Role of the Compliance Officer • Processes and Procedures

moDule 4: otHeR key ComplIAnCe AReAS • Anti-Money Laundering • Financial Crime Prevention • Market Abuse • Managing Risk





WORkSHOPSPlease note that attendance at the workshop is compulsory and we recommend that you book well in advance. For further details of workshop dates, please consult the JIBS website.

PROgRAMME DETAILS DURATION: 1-3 months

LEVEL: Introductory

PREREQUISITES: None

SUITABLE FOR: All staff working in the compliance arena, internal and external audit staff, all staff working in risk functions and regulatory representatives.


DATES: Closing enrolment date: 28 May 2012 Workshop and examination: 31 August 2012


[email protected]

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ICA INTERNATIONAL ADvANCED CERTIfICATE IN COMPLIANCE AND fINANCIAL CRIME

OvERvIEWAs a financial services professional involved with the management of risk in your firm, your role is varied. You are likely to be responsible for the creation and implementation of a compliance strategy as well as the prevention of money laundering and fraud. Protecting your firm from financial loss and reputational damage is a difficult task. It demands up-to-date knowledge of the issues and practical, useful skills that you can apply every day.

To meet your training and education needs, we have created the ICA International Advanced Certificate in Compliance and Financial Crime. The programme is split into the core area of Compliance, with subsidiary units on Anti-Money Laundering and Financial Crime Prevention. It will provide you with practical skills to enable you to foster a compliance culture within your organisation.

kEY fEATURES • An intermediate-level education programme

that takes nine months to complete • Comprehensive, detailed course materials that

can be used in the workplace • Completion of one assignment and one

open-book examination • Written by experienced industry practitioners • Extensive support and resource material • Awarded in association with The University of

Manchester Business School

PROgRAMME CONTENTThe programme is split into the core area of Compliance, with subsidiary units on Anti-Money Laundering and Financial Crime Prevention.

ComplIAnCe (CoRe moDule)

unIt 1: unDeRStAnDIng tHe RegulAtoRy envIRonment • The Objectives of Financial Services

Regulation • The Background to Regulation • The Regulatory Timeline • Consumer/Investor Protection

unIt 2: InteRnAtIonAl RegulAtIon • Regulators and their Powers • International Regulatory Models • Overview of Recent International Legislation • The Impact of EU and International Legislation

on the UK Landscape

unIt 3: ComplIAnCe In pRACtICe • Compliance Structure • The Role of the Compliance Officer • Key Compliance Activities and Processes

unIt 4: AntI-money lAunDeRIng

unIt 5: FInAnCIAl CRIme pReventIon

BENEfITS TO INDIvIDUAL • Career progression • Increased knowledge, developed skills • Enhanced workplace performance • Verifiable evidence of learning (designation

Adv Cert. FCP Comp)

BENEfITS TO ORgANISATION • Reduced financial risk • Enhanced reputation • Developed skills within the team





PROgRAMME DETAILS DURATION: 6 months LEVEL: Intermediate

PREREQUISITES: None



DATES: Free briefing session to find out more: 10 January 2012 Closing enrolment date: 1 March 2012 Workshop One: 25 April 2012 Workshop Two: 2 August 2012 Examination: 13 September 2012

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[email protected]

COMPLIANCE RISk fUNDAMENTALS

OvERvIEWThe Compliance and Risk Management Programme examines the key risk management issues and topics that are of vital importance in today’s highly regulated environment. The programme is lectured by subject matter experts and is highly practical. Full written notes and copy PowerPoint slides are included.

20HOURSCPD

PROgRAMME DETAILS DURATION: 10 months x 2 hours (All modules (09.15-11.15)

SUITABLE FOR: As well as being targeted at Compliance Officers, MLROs, MLCOs and other risk management professionals, this programme is also aimed at members of senior management and board members keen to know more about what to expect from the risk control functions within their organisations.

COST: £795 full programme £95 per seminar

DATES: Seminar 1 8 March 2012 Seminar 6 26 July 2012 Seminar 2 5 April 2012 Seminar 7 20 September 2012 Seminar 3 8 May 2012 Seminar 8 25 October 2012 Seminar 4 14 June 2012 Seminar 9 15 November 2012 Seminar 5 5 July 2012 Seminar 10 13 December 2012

SemInAR 1: tHe RegulAtoRy envIRonmentDate: 8 march 2012 • Why financial services are regulated • The consequences of regulatory failure • The principles of regulation • Relevant laws/regulations and codes • Regulatory agencies

SemInAR 2: tHe JeRSey FInAnCIAl SeRvICeS CommISSIonDate: 5 April 2012 • Statutory basis • Statutory objectives • Structure • Functions • Powers

SemInAR 3: DeFInIng ComplIAnCe RISkDate: 8 may 2012 • How compliance risk differs from other risk

types: – operational risk – credit risk – financial crime risk

• Examples of failure to manage compliance risk

SemInAR 4: tHe Role oF tHe ComplIAnCe FunCtIon – pARt 1Date: 14 June 2012 • Key external relationships • Relationships with other internal risk

management functions • Relationship with business units • Relationship with the board

SemInAR 5: tHe Role oF tHe ComplIAnCe FunCtIon – pARt 2Date: 5 July 2012 • Influencing philosophy • Helping to shape policy • Designing procedures • Encouraging compliance with procedures in

practice • Monitoring • Reporting

SemInAR 6: tHe lInk BetWeen ComplIAnCe AnD eFFeCtIve CoRpoRAte goveRnAnCeDate: 26 July 2012 • What is corporate governance? • The JFSC’s expectations of good governance • Why compliance is fundamental to good

governance • What a good governance regime looks like • Examples of failure

PROgRAMME CONTENT

Members20%discount


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SemInAR 7: pRepARIng FoR AnD mAnAgIng A CommISSIon vISItDate: 20 September 2012 • Preparing staff and management • Disclosure of documentation – pre-visit • Types of visit and what to expect • Common pitfalls and how to avoid them • Handling a visit

SemInAR 8: HAnDlIng enFoRCement ACtIonDate: 25 october 2012 • What is enforcement action? • Who are the enforcers? • Responding to production orders • Avoiding fishing expeditions • Legal professional privilege • Managing an internal investigation • Managing the risk of document destruction

and creation • Issues arising during an inspection process • Responding to asset seizure attempts • The likely impact of civil confiscation provisions

SemInAR 9: mAnAgIng tHe RISk oF HumAn eRRoRDate: 15 november 2012 • What are human factors? • The importance of human error in

procedure-driven environments • Common human factor problems • Steep authority gradients • Reliance vacuums • Dominant individuals • Identifying and addressing human factor issues • Developing an effective compliance culture

SemInAR 10: extRA-teRRItoRIAl ComplIAnCe RISkSDate: 13 December 2012 • HIRE Act • OFAC • Onshore criminal investigations • US anti-money laundering provisions • UK Bribery Act • Case studies

LEARNINg OUTCOMES • The programme is designed to equip

attendees with sufficient knowledge to assess the adequacy of their organisation’s existing risk management controls and practices and to make enhancements

ADDITIONAL INfORMATION • Certificates of attendance are provided for

each seminar • Interchangeable delegate places are available • An evaluation questionnaire is given to all

delegates at the end of each seminar

Members20%discount

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COMPLIANCE OffICER INDUCTION

COMPLIANCE OffICER UPDATE

OvERvIEWDefining compliance is the starting point of this course, ensuring delegates have a shared perception of what good compliance is. Delegates are then encouraged to think about the benefits of compliance and the conflicts often facing the compliance professional.

COURSE CONTENT • What is compliance? • Regulation of industry sectors • Compliance benefits and responsibility • The compliance function • The role of the compliance officer • Key relationships and other dependencies • Compliance tasks and issues • Barriers to effective compliance

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have an overview of primary and secondary compliance tasks that will

guide them into dealing with key compliance issues and looking in a practical way at the role of the compliance officer

• Be encouraged to think of the various internal and external stakeholders and how to enhance those relationships

• Be able to manage the barriers to effective compliance • Consider the adequacy of existing compliance risk management

frameworks

OvERvIEWThis course provides an update on core regulatory developments and recent case law and typologies for those working within the compliance sector.

COURSE CONTENT • Recent issues and lessons learned • What should be on your radar? • Results of the themed examination programme and implications for the

industry • AML and CFT typologies • Changes to legislation • Barriers to an effective compliance culture • The impact of the IMF report on Compliance roles • Sanctions

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Be brought up to date with the current thinking at the Commission • Be able to review and assess the impact of recent cases and emerging

typologies on their own organisations • Have gained an awareness of changes in civil law and recovery

mechanisms

COURSE DETAILS DURATION: 1 day (09.15-16.15)

SUITABLE FOR: This course is designed for newly-appointed compliance officers/assistants, but would also be useful for firms wishing to provide those in the organisation who do not work in the compliance arena with an understanding of the essential role compliance plays, so engendering a positive compliance culture.

COST: £295

DATES: Spring/Summer – 22 March 2012


SUITABLE FOR: This course is designed for managers with responsibility for financial crime, risk managers, MLROs and MLCOs, managers with operational responsibility for risk control functions and internal audit staff.

COST: £295

DATES: Autumn/Winter – 18 October 2012

6HOURSCPD

6HOURSCPD

Members20%discount Members20%discount


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HOW TO DESIgN AND MANAgE A RISk MANAgEMENT fRAMEWORk

HOW TO DUE DILIgENCE CLIENTS

OvERvIEWThis course aims to give a comprehensive introduction to risk management and its benefits.

COURSE CONTENT • What is a risk? • Identifying risks • Undertaking a business risk assessment • Designing controls and procedures • Generating management information • Effective monitoring and feedback • Creating an effective compliance culture

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have gained a greater appreciation of the range and scope of risks

prevalent in a financial services business and be able to effectively assess what risks should have priority in their organisation

• Have the ability to put in place a risk management framework to manage these risks

OvERvIEWThis course addresses the factors involved in the CDD process and the obligation on financial services business staff to identify and verify an applicant for business.

COURSE CONTENT • CDD – what, why and when? • The risk based approach to CDD • Understanding commercial rationale • CDD profiling • Barriers to effective CDD • Available CDD software and making effective searches

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Be equipped to undertake their CDD obligations under Statute and the

Handbook • Have obtained a greater understanding and appreciation of the risk-based

approach and how CDD works as an essential risk management function


SUITABLE FOR: Operational Risk, MLROs, MLCOs, Compliance Officers, Executive Directors and NEDs.

COST: £155

DATES: Autumn/Winter – 10 October 2012


SUITABLE FOR: All financial services business staff who are involved in a CDD process, e.g. Compliance Officer, MLRO, Director, Risk Managers and client-facing staff.

COST: £155


3HOURSCPD

3HOURSCPD


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INfLUENCINg THE ETHICAL CULTURE Of AN ORgANISATION

INTRODUCTION TO OPERATIONAL RISk

OvERvIEWFollowing the financial crisis, regulators have begun to place more emphasis on the ethics and culture of licence holders. The objective of this workshop is to explore how the ethical culture of an organisation can be measured and enhanced so that strategic business objectives can be met in a manner that is both responsible and sustainable.

COURSE CONTENT • Defining ethical business conduct in the context of strategic business

objectives • Why profits and ethics are a good marriage • Identifying and communicating a set of corporate values • How to measure culture • Common human issues that undermine a corporate compliance culture • Steps to improve culture • Case studies

LEARNINg OUTCOMESBy tHe enD oF tHe WoRkSHop, DelegAteS WIll Be ABle to: • Objectively consider the quality of the ethical culture of their organisation • Identify steps to enhance ethical culture • Identify human factor weaknesses in corporate compliance culture

OvERvIEWThis workshop is designed to introduce delegates to the basics of Operational Risk Management in financial services and clarify the distinctions between Operational risk and other types of risk including Compliance and AML risk. The workshop encourages the development of an enterprise wide risk management framework.

COURSE CONTENT • Distinguishing operational risk • Risk identification • Risk assessment and measurement • The consequential effects of poor operational risk management • Operational risk management functions • Introduction to Basel III • Enterprise wide risk management • Case studies • Group exercises

LEARNINg OUTCOMESBy tHe enD oF tHe WoRkSHop, DelegAteS WIll Be ABle to: • Consider the adequacy of existing operational risk control frameworks • Implement enhancements • Consider the relationship between operational risk and other key risks and

reflect on functional roles and responsibilities


PREREQUISITES: None

SUITABLE FOR: Directors, Compliance Officers, Senior Managers, Company Secretaries

COST: £155

DATES: 5 March 2012


SUITABLE FOR: Compliance Officers, Operational Risk staff, MLCO’s, Internal Audit, Directors

COST: £295

DATES: 14 June 2012

3HOURSCPD

6HOURSCPD



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gARetH ReeS QC

Gareth Rees QC has been a barrister for 30 years and a Queens Counsel since 2003. He has an extensive background in all aspects of criminal law but in the last ten years has specialised in fraud, financial and corporate matters covering crime as well as regulatory and disciplinary cases.

He has acted in high profile cases involving sanctions breaches, money laundering, conspiracy to defraud, insider dealing and bribery and corruption. He advises widely on these areas and is in high demand to act for defendants prosecuted in London by the SFO, FSA, HMRC and the CPS, usually involving multi-jurisdictional evidence.

Gareth will be running a MLRO/MLCO Master Class with Stephen Platt. For full details see page 73.

35+44 (0) 1534 816333 | [email protected] | www.jerseyibs.com | Prospectus 2012 | Jersey International Business School


Senior lecturer Chris Usher consults with students in the Jersey International Business School reference library

CUSTOMER SERvICE


DEvELOPINg EffECTIvE CUSTOMER SERvICE

OvERvIEWThis course provides a high level of understanding and appreciation of customer services and sales skills for customer facing staff. Delegates will develop improved skills and confidence in relation to dealing with customers in order to maximise client satisfaction.

COURSE CONTENT1. InDuCtIon • Introduce trainer, other staff and delegates • Explain purpose of training session, its scope, format and outcome

2. CuStomeRS AnD tHeIR expeCtAtIonS • Understand the differences between internal and external customers • Explain what constitutes exceptional customer service • Explain the importance of exceptional customer service to customers and

the organisation and its stakeholders • Understand the ‘five rights’ of customers

3. keepIng tHe CuStomeR In FoCuS • The importance of constructive company cultures and individual behaviour

in creating positive customer service experiences • Describe the preparations needed in order to ensure that service is

effective • Explain how to give a positive impression to customers

4. HAnDlIng ComplAIntS • Describe the legislation that affects dealing with customers • Explain why customers complain • Describe the do’s and don’ts of handling complaints • Describe effective methods for handling customer complaints

5. DeAlIng WItH DIFFICult CuStomeRS • Explain how to deal with criticism • Explain non-verbal and verbal signals • Identify win – win solutions

6. ACHIevIng SupeRIoR CuStomeR SeRvICe • Describe methods for identifying and understanding customers needs • Explain how to provide information and advice to customers and check

their understanding • Describe ways to provide products and /or services to customers • Explain how to respond to customers’ special requests • Describe methods for measuring quality standards of service and

recommending improvements

7. meetIng CuStomeRS’ InDIvIDuAl neeDS • Describe the types of individual need that customers may have • Explain the implications of the Disability Discrimination Act upon customer

service • Describe methods that can be used to meet the needs of customers with

individual needs

8. SellIng SkIllS • Describe how you identify customers’ needs and wants • Describe the importance of questioning and listening • Describe the ways of selling benefits • List ways of overcoming objections

9. CuStomeR CARe In JeRSey • Outline the affect customer service has on Jersey • Understand where visitors come from • Outline how you can influence the image of Jersey

10. evAluAtIon • Allow delegates to evaluate the workshop • Identify areas of improvement • Identify further learning needs

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Be able to confidently deal with customers in different organisations to a

high standard • Provide improved quality or customer service and also have the ability to

handle complaints more confidently • Organisations will benefit from better client relationships and increased

business performance

COURSE DETAILS DURATION: 2 days (09.15-16.15)

SUITABLE FOR: All individuals who interact with customers

COST: £425

DATES: 20 & 21 March 2012 8 & 9 November 2012

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EMPLOYEE BENEfIT TRUSTSCERTIfICATED AWARENESS PROgRAMMES

EMPLOYEE BENEfIT TRUSTS AND SHARE PLANS 40

Emma has over 10 years’ experience of working with EBTs and Share Plans.

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EMPLOYEE BENEfIT TRUSTS AND SHARE PLANS

OvERvIEWThe aim of this programme is to provide practitioners and intermediaries with an understanding of Employee Benefit Trusts and Share Plans from the perspective of employers, employees and regulators and to highlight issues that affect their implementation and administration. Training can also be targeted to improve employees’ confidence and ability both in administration and in the area of account management, to promote confidence when meeting and presenting to existing clients or potential new business.

10HOURSCPD

PROgRAMME DETAILS DURATION: 5 months x 2 hours (09.15-11.15)

SUITABLE FOR: Training is aimed at individuals working in employee benefits and can be targeted to new starters with no EBT or Trust experience, individuals moving from another area of trust, or to all levels of administrators wanting to develop their overall knowledge of EBTs and the field of share plans.

COST: £495 full programme (£120 per seminar if booked separately)

DATES: Spring/Summer Autumn/Winter Seminar 1: Introduction to Employee 13 Mar 2012 10 Sep 2012 Benefit Trusts Seminar 2: Share Plan design and 20 Apr 2012 1 Oct 2012 implementation Seminar 3: Approved Share Plans 17 May 2012 19 Nov 2012 Seminar 4: Unapproved Share Plans 13 Jun 2012 4 Dec 2012 Seminar 5: Share Plan administration 11 Jul 2012 10 Jan 2013 and the Role of the Trustee

SemInAR 1: IntRoDuCtIon to employee BeneFIt tRuStS • Definition • Purpose • Parties • Documentation • Onshore versus offshore • Operation of an EBT • History of EBTs

SemInAR 2: SHARe plAn DeSIgn AnD ImplementAtIon • Types of Share Plans • Defining objectives – company / employee • Design issues • Stakeholders • Costs • Communication • Legal issues • Tax issues • Implementation process

SemInAR 3: AppRoveD SHARe plAnS • Definition • All employee approved plans

– Share Save – SIPs

• Discretionary approved plans – CSOPs – EMIs

• Restrictive nature of approved plans

SemInAR 4: unAppRoveD SHARe plAnS • Definition • Long-term incentive plans

– Performance Share Plans – Restricted Share Plans

• Bonus plans – Co-investment/bonus plans – Deferred bonus plans

• Phantom Share Plans • Share appreciation rights plans

PROgRAMME CONTENT


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SemInAR 5: SHARe plAn ADmInIStRAtIon AnD tHe Role oF tHe tRuStee • Grant

– Company or trustee – Process – Documentation

• Share purchase • Exercise • Process • Transfer • Sale • Sale and transfer • Other issues

– Tax – Record keeping – Client communication – Dividends – Understanding the Trustee’s responsibilities – Client versus beneficiary

LEARNINg OUTCOMESHAvIng AttenDeD tHIS pRogRAmme, DelegAteS WIll: • Have an understanding of Employee Benefit

Trusts and Share Plans from the perspective of employers, employees and regulators and understand the issues that affect their implementation and administration

• Be in the best position to provide top customer service, enabling businesses to keep their existing clients and win new ones, as providing relevant training is an invaluable way of motivating and valuing employees

• Have improved knowledge and ability both in administration and in the area of account management, which promotes confidence when meeting and presenting to existing clients or potential new businesses

41



Miles Templeman, Chairman of the new faculty of Leadership and Management established by the Jersey International Business School.


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JERSEY INTERNATIONAL BUSINESS SCHOOL fACULTY Of LEADERSHIP & MANAgEMENT

MANAgEMENT

JIBS MANAgEMENT SkILLS DEvELOPMENT PROgRAMME 45

CMI LEvEL 2 DIPLOMA IN TEAM LEADINg 46

CMI LEvEL 3 DIPLOMA IN fIRST LINE MANAgEMENT 47

CMI LEvEL 5 DIPLOMA IN MANAgEMENT 50

CMI LEvEL 7 CERTIfICATE / DIPLOMA IN STRATEgIC MANAgEMENT AND LEADERSHIP 51

LEADERSHIP

JIBS HIgH POTENTIAL LEADERSHIP PROgRAMME 52

JIBS ANNUAL LEADERSHIP fORUM 53

DIRECTORS

JIBS DIRECTORS’ AWARENESS PROgRAMME & CERTIfICATE 54

CLUB (N)ED 57




JIBS Academy

JERSEY INTERNATIONAL BUSINESS SCHOOL

fACULTY Of LEADERSHIP & MANAgEMENT

The faculty of Leadership & Management has been established as part of the strategic expansion of the Jersey International Business School. The aim of the faculty is to develop business leaders and managers to drive organisational performance in the Channel Islands.

The Channel Islands have long held a reputation for technical subject matter expertise – but as the global economy recovers from recession, and offshore financial centres come under closer scrutiny, there is a compelling need for investment in leadership and management skills.

The faculty of Leadership & Management is chaired by Miles Templeman, the recently-retired Director general of the Institute of Directors and a renowned leader of a number of public companies. The faculty comprises of world class tutors across a variety of business disciplines.

mIleS templemAn (Faculty Chairman)

Miles began his career as a marketing specialist and gained a pedigree leading such major consumer brands as Daz, Ribena and Lucozade, and as Marketing Director

of Levi’s jeans. He then moved into general management and after running Threshers, Miles was appointed MD of the Whitbread Beer Company. He had great success in building these companies, especially with the growth of brands such as Boddingtons and Stella Artois.

Miles then had a series of non-executive directorships and consultancy roles including Royal Mail, Ben Sherman and Accenture before becoming Chief Executive of Bulmers, which was successfully sold to Scottish & Newcastle. Miles was also Non-Executive Chairman of restaurant chain YO! Sushi between 2003 and 2008.

A firm believer in the power of the brand and the importance of valuing your team, Miles is a passionate believer in the values of enterprise. He was appointed Director General of the IoD in 2004, a position he held until September 2011.

JIBS Academy“The challenge in Jersey is to deliver a world class quality learning and development product. Miles Templeman’s support enables us to offer exactly that in the faculty of Leadership & Management. from his time as Director general of the IOD and before that as CEO of a fTSE company, he understands exactly what challenges businesses face and what support they need to meet them.”

Stephen Platt, Executive Director, Jersey International Business School


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JIBS MANAgEMENT SkILLS DEvELOPMENT PROgRAMME

OvERvIEWA broad-based management skills programme designed to explore a range of management techniques. The programme will involve exploring relevant theories and applying them in a practical way to the world of work. Participants will have the opportunity to practise new skills in a ‘safe’ environment and build their confidence. Participants can complete all five modules or pick and choose those that are relevant to them.

PROgRAMME DETAILS DURATION: Total 6 tuition days

TUTOR Margaret Allen

ASSESSMENT There is no formal assessment. The award will be made based on attendance and active participation in the programme.

SUITABLE FOR: Line managers who have had no formal management training and/or limited experience of managing others.

PRICE £1750

DATES Seminar 1: Being a Credible Manager (1 day) 28 February 2012 Seminar 2: Managing and Motivating Others (1 day) 20 March 2012 Seminar 3: Crucial Conversations (2 days) 2 & 3 May 2012 Seminar 4: Coaching and Delegation (1 day) 12 June 2012 Seminar 5: Recruitment and Assessment (1 day) 25 July 2012 Seminars spaced to enable time for practice and reflection.

COURSE CONTENTSemInAR 1: BeIng A CReDIBle mAnAgeR (1 DAy) • The role of the line manager • Leading by example • Developing your personal management vision

and principles • My personal style as a manager

SemInAR 2: mAnAgIng AnD motIvAtIng otHeRS (1 DAy) • Managing individual and team performance • Managing meetings • Setting objectives and giving feedback • Building development plans • Growing the team

SemInAR 3: CRuCIAl ConveRSAtIonS (2 DAyS) • Essential communication techniques • Giving difficult messages • Handling conflict – managing difficult people

SemInAR 4: CoACHIng AnD DelegAtIon (1 DAy) • Why coach? • GROW coaching model – theory and practice • Delegating effectively – theory and practice • Providing support without removing

responsibility • Barriers to effective coaching and delegation

SemInAR 5: ReCRuItment AnD ASSeSSment (1 DAy) • Identifying behaviours that are critical to

success • Competency-based recruitment • Structuring an interview • Assessing talent

PRE-PROgRAMME WORk AND fOLLOW UPPrior to each module there will be an element of pre-work for participants to complete. This could include completing questionnaires, identifying objectives, reflecting on personal experiences.

At the end of each module, participants will be required to complete an action plan, enabling them to try out the techniques that have been discussed and practised in the module.

For those participants who sign up to the whole programme, it would be beneficial for them to be supported throughout the process. This would involve a conversation prior to the programme commencing to agree learning objectives, an interim conversation to discuss progress, and a conversation at the end of the programme to ratify objectives.




CMI LEvEL 2 DIPLOMA IN TEAM LEADINg

PROgRAMME DETAILS DURATION: 7 months (7 x ½ day sessions, 09.15-12.15)

LEVEL: 2

COST: £1200 (inclusive of study materials and tuition) and also includes Professional Membership of the CMI £225 per seminar if booked separately

DATES: Personal Development as a Team Leader 23 January 2012 Team Communications 29 February 2012 Controlling Resources 22 March 2012 Building Work Relationships 30 April 2012 Team Development 28 May 2012 Providing Customer Service 21 June 2012 Team Performance 10 July 2012

COURSE CONTENTThe diploma is a comprehensive structured qualification providing you with all of the key leadership skills to enable you to operate effectively as a team leader.

The unit titles are as follows. • Personal Development as a Team Leader • Team Communications • Controlling Resources • Building Work Relationships • Team Development • Providing Customer Service • Team Performance

All seminars need to be completed in order to achieve the diploma. Delegates are supplied with supported learning materials.

Assessment is on a continual basis during the workshops.

LEARNINg OUTCOMESon CompletIon oF tHIS QuAlIFICAtIon pARtICIpAntS SHoulD Be ABle to: • Understand the links and differences between

management and leadership • Be able to identify and agree performance

objectives • Understand leadership principles that support

organisational values • Manage their staff individually and in teams

through the performance management process, including planning and running supervision, appraisal and personal development meetings and team meetings

• Apply their understanding of their own and others learning styles to ensure that teams can learn and therefore maximise performance

• Be able to assess and plan for personal professional development

• Be able to understand and apply the organisation’s disciplinary and grievance procedures

OvERvIEWCMI Level 2 is designed for practising or aspiring team leaders who wish to develop their management skills and knowledge and attain a solid foundation from which to progress.

THE CMI The Chartered Management Institute (CMI) is the leading organisation representing professional management and is the only chartered body specialising in management and leadership in the UK.

CMI qualifications represent excellence in management and range from qualifications in team leadership through to senior management diplomas. These professional qualifications are nationally recognised across all sectors.

JIBS AND CMIJIBS is a CMI Approved Centre and adheres rigorously to all of the required CMI standards. The JIBS CMI study programmes are workshop intensive. They are designed to provide students with sufficient supported learning materials, to obtain these highly-regarded qualifications in a timely and cost-effective manner.

The qualifications are derived from the National Occupational Standards for Management and Leadership and are accredited on the Qualifications and Credit Framework (QCF) for England, Wales and Northern Ireland.


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CMI LEvEL 3 DIPLOMA IN fIRST LINE MANAgEMENT

PROgRAMME DETAILS DURATION: 9 months (one-day modules, 09.15-16.15)

LEVEL: 3

COST: £1950 inclusive of study materials and tuition £295 per unit if booked separately

DATES: Personal Development as a First Line Manager 18 January 2012 Resource Planning 15 February 2012 Meeting Stakeholders Needs 21 March 2012 Managing and Communicating Information 23 April 2012 Developing Individuals and Teams 16 May 2012 Improving Team Performance 27 June 2012 Introduction to First Line Management 18 July 2012 Project assignment to be completed over the remaining two months

COURSE CONTENTThe diploma is a comprehensive structured qualification providing you with all of the key leadership skills to enable you to operate effectively as a first line manager.

In order to gain the diploma delegates must complete all units listed. • Personal Development as a First Line Manager • Resource Planning • Meeting Stakeholders Needs • Managing and Communicating Information • Developing Individuals and Teams • Improving Team Performance • Introduction to First Line Management

All modules need to be completed in order to achieve the diploma.

Assessment is on a continual basis during the workshops.

Written assignments are also used in the assessment process.

LEARNINg OUTCOMESon CompletIon oF tHIS QuAlIFICAtIon pARtICIpAntS SHoulD Be ABle to: • Know how to develop the competencies of

individuals and teams • Be able to monitor records and control

resources within the work area • Be able to identify issues which affect

performance • Prepare a personal development plan which

meets agreed objectives

OvERvIEWCMI Level 3 is designed for supervisors and first line managers, to support the development of their skills in maintaining and developing effectiveness and efficiency of the operations for which they are responsible.








‘JIBS provided the guidance, encouragement and facilities I needed to achieve the CMI Level 5 Diploma, with the support of State Street.’Harvey Austin-vautier, manager, State Street global Services, Jersey

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CMI LEvEL 5 DIPLOMA IN MANAgEMENT

PROgRAMME DETAILS DURATION: 12 months (one-day modules, 09.15-16.15)

LEVEL: 5

COST: £2950 inclusive of study materials and tuition £375 per seminar if booked separately

DATES: Personal Development as a Manager and Leader 8 March 2012 Information-Based Decision Making 26 April 2012 Resource Management 27 April 2012 Leadership Practices 21 May 2012 Conducting a Management Project 11 June 2012 Managing the Change Process 9 July 2012 Financial Control 6 August 2012 Managing Recruitment and Selection 10 September 2012 Meeting Stakeholder and Quality Needs 8 October 2012 Performance Management 5 November 2012 Project assignment to be completed over remaining three months

COURSE CONTENTStudents must complete all units from Group A and the unit from Group B combined with two optional units from Group C to achieve the diploma.

The unit titles are as follows.

gRoup A • Personal Development as a Manager and

Leader • Information-Based Decision Making • Resource Management • Meeting Stakeholder and Quality Needs • Conducting a Management Project

gRoup B • Performance Management

gRoup C • Financial Control • Managing Recruitment and Selection • Leadership Practices • Managing the Change Process

LEARNINg OUTCOMESon CompletIon oF tHIS QuAlIFICAtIon pARtICIpAntS SHoulD Be ABle to: • Understand the links and differences between

management and leadership • Manage their staff individually and in teams

through the performance management process, including planning, appraisal and personal development meetings and team meetings

• Be able to identify and agree performance objectives

• Apply their understanding of their own and others learning styles to ensure that teams can learn and, therefore, maximise performance

• Be able to assess and plan for personal professional development

• Be able to understand and apply the organisation’s disciplinary and grievance procedures

• Understand leadership principles that support organisational values

OvERvIEWCMI Level 5 is a comprehensive qualification designed for practising middle managers and those aspiring to senior management who wish to develop their management skills and knowledge and attain a solid foundation from which to progress to become organisational leaders.






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CMI LEvEL 7 DIPLOMA / CERTIfICATE IN STRATEgIC MANAgEMENT AND LEADERSHIP

PROgRAMME DETAILS DURATION: 6 months for certificate (one-day modules, 09.15-16.15)

12 months for diploma*

LEVEL: 7

COST: Level 7 Diploma in Strategic Management and Leadership – £3495 Level 7 Certificate in Strategic Management and Leadership – £995 £425 per seminar if booked separately

DATES: Personal Development as a Strategic Leader Dates to be confirmed Strategic Performance Management Financial Management Strategic Information Management Conducting a Strategic Management Project Organisational Direction Strategic Risk Management Organisational Change Strategic Human Resource Planning Financial Planning

*Project assignment to be completed over remaining two months

COURSE CONTENTIn order to gain the diploma delegates must complete all modules listed. To gain the certificate, any three modules must be completed. The unit titles include: • Personal Development as a Strategic Leader • Strategic Performance Management • Financial Management • Strategic Information Management • Conducting a Strategic Management Project • Organisational Direction • Strategic Risk Management • Organisational Change • Strategic Human Resource Planning • Financial Planning

LEARNINg OUTCOMESon CompletIon oF tHIS QuAlIFICAtIon pARtICIpAntS SHoulD Be ABle to: • Set performance targets of teams to meet

strategic objectives • Apply influencing and persuading skills to the

dynamics and politics of personal interaction • Assess budgets based on financial data to

support organisational objectives • Review and determine the organisational

strategic aims and objectives • Confidently evaluate strategic options to

support a revised strategic position • Understand the construction of a financial

plan and how to promote the financial plan in support of strategic objectives

• Understand the impact of projects and project management on strategic objectives

OvERvIEWCMI Level 7 is designed for strategic and senior managers, and aims to develop a range of knowledge and skills in strategic management for managers working at this level.

This post-graduate level qualification will provide an excellent level of strategic thought and knowledge.







JIBS HIgH POTENTIAL LEADERSHIP PROgRAMME

OvERvIEW

The High Potential Leadership Programme has been designed for those rising stars within your organisation who have proven technical ability but need more sophisticated leadership skills to advance to the next level. It is an exclusive programme for those in your organisation who you want to invest in because they show real talent and potential to succeed. Employees in whom you consciously wish to make an investment.

The programme will have a heavy focus on self-awareness, so that people understand their impact as leaders and their influence on their organisation’s future. It will be underpinned by relevant theories and world-renowned models which will be applied in a practical way to real issues. Participants will have the opportunity to practise new skills in a ‘safe’ environment and build their confidence. It will also provide them with a strong peer network for ongoing support after the programme.

PROgRAMME DETAILS DURATION: 9 days

TUTORS: Andrea Robottom and Nicola Lincoln

PRICE: £2950

DATES: The programme will commence early in 2012 and the seminars will be spaced to enable time for application and personal development. Seminar 1: 7, 8, 9 February 2012 Seminar 2: 1, 2, 3 May 2012 Seminar 3: 9, 10, 11 October 2012

BENEfITS TO YOU AND YOUR ORgANISATION • Enhance personal awareness and confidence • Appreciate your impact on others • Develop a broader range of leadership skills • Develop new skills and techniques • Development of career and personal

development plans for implementation within your organisation

WHO SHOULD ATTEND?It would be expected that leaders attending the programme would currently be performing in a middle or senior management role. Participants would also be expected to have had exposure to foundational leadership development before attending the programme.

Attendees on this exclusive high potential programme are strictly limited to 15.

LEARNINg PRINCIPLES • Adults learn best from their own experiences

and experiments • Delegates will be encouraged to bring

themselves and personal case studies into the programme

• Pre-work will be an essential requirement in advance of each module to maximise learning

COURSE CONTENTSemInAR 1: leADIng At tHe next level – 3 DAyS • Leadership expectations at the next level • Characteristics of star performers • Authenticity of leadership • Leading self (self awareness and development) • Leading others • Leading the business • Advanced coaching skills (relating to personal

development)

SemInAR 2: poSItIve poWeR AnD InFluenCe – 3 DAyS • Understanding current impact • Exploring alternative behavioural styles • Developing a flexible approach to influencing

stakeholders • Strategic influencing in organisations

SemInAR 3: leADIng CHAnge – 3 DAyS • The role of the leader • Using culture to enable change • Maximising employee involvement and

engagement • Overcoming barriers to change • Creating a learning environment

pRe-WoRk AnD FolloW up • Prior to each seminar there will be pre-work for

participants to read or complete to maximise learning. Participants will also form into ‘learning pairs’ to support the learning process outside of the formal seminars

• At the end of each seminar, participants will be required to complete an action plan, enabling them to try out the techniques that have been discussed and practiced in the seminar. They will be expected to share this with their manager or sponsor



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JIBS ANNUAL LEADERSHIP fORUMLEADINg CHANgE THROUgH PERILOUS TIMES

IN ASSOCIATION WITH THE

LEADERS Of BUSINESSES AND gOvERNMENT IN THE CHANNEL ISLANDS fACE SEvERAL CHALLENgES: • How to respond to the global economic

downturn • The ongoing debate on the role of OFCs in

promoting tax competition • Global pressure for transparency and

information exchange • The emergence of Asian competitor OFCs • The erosion of Jersey’s traditional USPs

From the initial launch of the Directors’ Convention in 2010, the event focus has been redefined in response to ongoing economic change. The inaugural JIBS Annual Leadership Forum has been designed to provide inspiration and direction for today’s high performing leaders.

Business survival, and the prosperity of the Channel Islands, depends upon the leadership and management skills of senior personnel across all sectors – public and private.

INNOvATIvE fORMATAll speakers will deliver a presentation and be interviewed by Miles Templeman, former Director General of the Institute of Directors.

The format is interactive, offering opportunity for debate.

Leadership skills are of critical importance to the Island’s future prosperity on a global scale. The JIBS Annual Leadership Forum enables delegates to raise their game and fine-tune their skill base through an interactive format with critical analysis of key issues by world leaders.

Extend your own limits of personal motivation and challenge yourself by taking inspiration from our keynote speaker, Sir Ranulph Fiennes, Bt. OBE: • First to reach both Poles • First to cross the Antarctic and Arctic Ocean • First to circumnavigate the world along its

polar axis (with Charles Burton)

“I can confirm that it was comfortably the most productive, informative and inspiring CPD event I have ever attended, absolutely first class.”David Hazzard, managing Director, kedge Capital (Jersey) Ltd, commenting on last year’s event

PROgRAMMEmiles Templeman (Chairman) Chairman’s Welcome

Andrea Robottom – Director, NoNonsense Consulting Leading Through Change

Dr malek Ladki – IT Entrepreneur Stop Changing, Start Innovating

Sir Ranulph fiennes Bt. OBE – Explorer Leading Through Adversity

John Bird mBE – founder and Editor-in-Chief of The Big Issue My Story and Lessons for Business Leaders

Senator Philip Ozouf – Deputy Chief minister & minister for Treasury and Resources ‘What Changes the States of Jersey Must Make to Preserve Historic Rates of gDP Per Capita’

Stephen Platt – Principal, Stephen Platt & Associates LLP Leading Businesses in an Era of ‘Black Swan’ Events

Similar event repeated in guernsey on 23rd November 2011 See www.jerseyibs.com for details

© Ian P

arnell

LEADINg THROUgH ADvERSITYSir ranulph FienneS Bt. OBe

‘Worlds greatest Living Explorer’

guinness Book of Records

7HOURSCPD

DATE: Tuesday 22nd November 2011

VENUE: Hotel de France, St Helier

PRICE: £425 (plus GST)

For further details see page 145.



JIBS DIRECTORS’ AWARENESS PROgRAMME & CERTIfICATE

PROgRAMME DETAILS DURATION: 6 days

TUTORS: Richard Smerdon, Kate Anthony Wilkinson, Stephen Platt

ASSESSMENT: Assessment is by way of attendance, in class participation and a 2 hour multiple choice examination.

PRICE: £2450 – programme only (including materials) £300 – examination fee leading to award of certificate (optional)

DATES: Seminar 1: The Board and its Directors (2 days) 13 & 14 March 2012 Seminar 2: Board Composition and Performance (1 day) 11 May 2012 Seminar 3: Financial Management & Reporting (1 day) 11 June 2012 Seminar 4: The Board’s Role in Assessing and 12 & 13 July 2012 Managing Risk (2 days)

OvERvIEW

The world is a much tougher place for directors than it has ever been. Boards face a growing array of legal obligations and rising expectations of their performance following both the credit crisis and a succession of corporate scandals and failures. It is imperative that all directors bring up to date knowledge and skills to their work if Jersey is to continue to enjoy historic levels of GDP per capita.

The Jersey International Business School Directors’ Awareness Certificate awarded by the Jersey International Business School Academy, has been developed in recognition of the pressure upon directors and their need for education and support to discharge their fiduciary responsibilities properly.

The programme will have a heavy focus on self-awareness so that people understand their impact as directors and their influence on their organisation’s future. It will be underpinned by relevant theories and models which will be applied in a practical way to real issues. Participants will have the opportunity to practice new skills in a ‘safe’ environment and build their confidence. It will also provide them with a strong peer network for ongoing support after the programme.

BENEfITS TO YOU AND YOUR ORgANISATION • Enhance awareness and competence • Improve your understanding of your role and

responsibilities • Develop risk management strategies • Manage your exposure • Equip you with the all round skills, knowledge

and understanding for successfully directing an organisation strategically

WHO SHOULD ATTEND? • All executive and non-executive directors in

Jersey, across all industry sectors • Attendees are strictly limited to 20 delegates

per programme

LEARNINg PRINCIPLES • Adults learn best from their own experiences

and experiments • Delegates will be encouraged to bring

themselves and personal case studies into the programme

MATERIALSDelegates will be provided with a reading list, a comprehensive pack of reference materials and two practitioner text books.

‘Are you qualified to be a director?’


Delegates may attend the programme only, or opt to gain the certificate by sitting the examination.

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STRUCTURE AND CONTENT SemInAR 1 tHe BoARD AnD ItS DIReCtoRS (2 DAyS)

DAy 1 • The board:

– Legal status – Boards and ‘due process’ (meetings; minutes; resolutions; role of the chairman; role of the secretary)

– The relationship between the board and its committees

• Directors: – Legal status; Companies Law – Who can sue them – D & O policies

• Non-executive directors: – How if at all are they different? – Their role and relationship with executive directors: how executive directors can best manage productively their relationship with non-executives

– Some tricky situations • Introduction to Corporate Governance • Case Studies

DAy 2 • Directors and private companies: some

specific situations: – Governance issues – Private equity – Shareholder agreements – Acquisitions

• Directors and public ( i.e. UK listed) companies:

– FSA listing rules – The FRC’s role – The listed company year – The UK Corporate Governance Code and related codes and guidance

– Walker and bank governance • Case studies

SemInAR 2 BoARD CompoSItIon AnD peRFoRmAnCe (1 DAy) • The Role of the Board

– Role and responsibilities of the board – Strategy (vision and mission) – People – Process – Enterprise wide risk oversight – Committees of the board

• Creating a board your company deserves – Achieving the optimal mix – Attributes – Skills – Characteristics – Experience – The role of the Chairman

• Organising the affairs of the Board – Board orientation – Ensuring successful meetings – Board meeting agenda and minutes – Board packs – AGM’s – Retreats

• Board Development – Individual board member development – Full board development – Succession planning – Characteristics of board effectiveness linked to performance

SemInAR 3 FInAnCIAl mAnAgement AnD RepoRtIng (1 DAy) • Know your numbers • Management Accounts versus Statutory

Accounts • Reporting Standards • Accounting Principles • Interrogating a Balance Sheet • The Profit and Loss Account • Financial Warning Signs • Cost and Asset Management • Case studies

SemInAR 4 tHe BoARD’S Role In ASSeSSIng AnD mAnAgIng RISk (2 DAyS)

DAy 1 • The boardroom imperative on internal control

– The Nature of Risk – Analysing the Risks – Emerging Issues in Risk

• The Process of Assessing Risks – Measuring risks to business objectives – Impact and probability – Applying risk based methodologies – Case study and exercise

DAy 2 • Oversight of an effective risk management

framework – What does an effective risk management framework look like?

– The principles of enterprise wide risk management

– The relationship between key risk control functions, the board and each other

– Case study and exercise • Monitoring risk management performance

– What information should be reported to the board?

– Early warning signals • Promoting an effective risk management

culture – Why culture makes THE difference – Examples of where it has gone wrong – Setting the ‘tone from the top’

• The role of ‘human factors’ in managing risk and enhancing operational performance

• Case studies

JIBS Academy




Monty Raphael QC, Peters & Peters All you need to know about bribery and corruption but were afraid to ask

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CLUB (N)EDA NEW CONCEPT IN EXECUTIvE AND NON-EXECUTIvE DIRECTOR SUPPORT

OvERvIEWThe world is a much tougher place for directors of financial services businesses and the funds and other corporate structures they manage and administer. Boards face a growing array of legal obligations and rising expectations of their performance following the credit crisis and a succession of corporate scandals and failures. It is imperative that all directors bring up-to-date knowledge and skills to their work if Jersey is to retain its premier offshore status, as well as for their own protection.

Club (N)ED has been designed to equip directors in Jersey with the information and expertise they need to ensure that they remain fully effective in the boardroom, as well as technically proficient in compliance with their regulatory obligations. Members will interact with directors from Jersey and elsewhere, thus benefiting from the hard-won experience of others in their peer group.

Format of the events will be interactive rather than talk-and-tell.

Facilitated by Hans Baerlocher, former Managing Director UBS, Channel Islands and Philip Taylor, former Senior Partner PwC, Channel Islands.

CLUB (N)ED MENU

SEMINAR 1 4 OCTOBER 2011The Regulation of Directors by the Jersey Financial Services Commission John Harris, Director General, JFSC

CONFERENCE 22 NOVEMBER 2011JIBS Annual Leadership ForumSpeakers include Sir Ranulph Fiennes Bt. OBE and Miles Templeman, former Director General of the IoD

SEMINAR 2 8 DECEMBER 2011All you need to know about Bribery and Corruption but were afraid to askMonty Raphael QC, Peters & Peters

SEMINAR 3 19 JANUARy 2012Why regulatory investigations are on the increase and how you can ‘bulletproof’ your organisationStephen Platt, Principal, Stephen Platt & Associates LLP, Adjunct Professor, Georgetown University

SEMINAR 4 16 FEBRUARy 2012My Life as a NED: The seven deadly sins Martin Bralsford, Chairman Stanley Gibbons

SEMINAR 5 15 MARCH 2012Leading Through Change Andrea Robottom, MD NoNonsense Consulting

SEMINAR 6 17 MAy 2012Boardroom Dynamics: How should independent directors interact with the executive?John Boothman, Chairman Jersey Telecom

SEMINAR 7 21 JUNE 2012Developments in Corporate Governance and Financial ReportingIan Wright, Former Vice Chairman Financial Reporting Review Panel

kEY fEATURES • Director-specific development and networking

events • Top-quality speakers • Informal, interactive format (not talk-and-tell) • An uncompromising commitment to quality

combined with a strong emphasis on value for money

• Relevant, topical and insightful presentations • All your CPD needs in one place • Maximum flexibility – places are

interchangeable between directors of the same organisation

• Strictly limited numbers

WHAT’S INCLUDED? • Attendance at eight exclusive training/

networking events (commencing October 2011 and avoiding Easter and Summer Holidays)

• Attendance at the JIBS Annual Leadership Forum (normal cost £425)

• 50%discountonallJerseyInternationalBusiness School short courses and certificated awareness programmes

• Unlimited use of the Jersey International Business School reference library of over 1,000 publications

• Certificates of attendance

fORMAT • Start time 4pm (except December event,

which will include lunch and commence at 12.30pm)

• 50-minute presentation followed by Q&A session

• Each session facilitated by Hans Baerlocher (former MD of UBS) or Philip Taylor (former Senior Partner of PwC)

• All sessions followed by wine, nibbles and networking

• December event to include buffet lunch • Venue: Jersey International Business School

SUBSCRIPTION £645 to include attendance at seven seminars plus the JIBS Annual Leadership Forum. Please note that the price excludes GST.

22HOURS CPD

John Harris

Hans Baerlocher

Stephen Platt

Philip Taylor

Martin Bralsford Andrea Robottom

John Boothman Ian WrightFor further details see page 140.



susbscribedfully

ENROL FOR 2012-2013 SERIES

Stephen Platt is the principal author of the ICA Diploma programmes in Compliance and Anti-Money Laundering Prevention.


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fINANCIAL CRIME PREvENTIONPROfESSIONAL QUALIfICATIONS

INTERNATIONAL COMPLIANCE ASSOCIATION QUALIfICATIONS 61

ICA INTERNATIONAL DIPLOMA IN ANTI-MONEY LAUNDERINg 62

ICA INTERNATIONAL DIPLOMA IN fINANCIAL CRIME PREvENTION 64

ICA INTERNATIONAL CERTIfICATE IN ANTI-MONEY LAUNDERINg AWARENESS 66

ICA INTERNATIONAL CERTIfICATE IN fINANCIAL CRIME AWARENESS 67

CERTIfICATED AWARENESS PROgRAMMES

fINANCIAL CRIME PREvENTION fUNDAMENTALS 68

SHORT COURSES

INTRODUCTION TO ANTI-MONEY LAUNDERINg AND CTf 70

ADvANCED ANTI-MONEY LAUNDERINg AND CTf 70

MLRO AND MLCO INDUCTION 71

HIRE ACT – ARE YOU PREPARED? 71

SANCTIONS BOOT CAMP 72

SARs – THEORY AND PRACTICE 72

MLRO/MLCO MASTERCLASS WITH Gareth reeS QC & STEPHEN PLATT 73

INTRODUCTION TO OPERATIONAL RISk 73

the Jersey Compliance officers Association support the Financial Crime prevention training and qualifications offered by the Jersey International Business School.

JCoA members are offered a special discount of 20% on JIBS Certificated Awareness programmes and short courses in this section.




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QUALIfICATIONSThe ICA offers a wide range of qualifications in anti money laundering, compliance and financial crime prevention appropriate to the financial services sector all over the world.

For beginners and experienced practitioners alike, ICA qualifications increase knowledge, improve skills and enhance understanding. Awareness Certificate courses are designed for entry level staff who are new to a particular discipline. Content focuses on awareness and on the introduction of the key issues involved. These courses form a solid foundation for future learning. Advanced Certificate qualifications are available for those who wish to develop their understanding still further. Diploma courses are advanced graduate level qualifications designed for more senior practitioners who have already amassed a level of experience.

WORLDWIDEThe Association has invested time in developing relationships with a number of partners all over the world where there is a synergy of objectives in the pursuit of excellence. The courses are offered across the world via International Compliance Training and other approved training providers.

QUALITY ASSURANCE • The ICA qualifications are offered in

association with the Manchester Business School under a quality assured educational partnership

• The ICA Diploma qualifications have been graded as Graduate Diplomas at Honours Level under the Framework of Higher Education Qualifications (FHEQ) produced by the Quality Assurance Agency (QAA)

• In the UK, programmes are endorsed by the British Bankers’ Association

• The ICA Diplomas are mapped against the National Occupational Standards of Competence in Compliance/Anti-Money Laundering/Countering Financial Crime produced by the Financial Skills Partnership (FSP) at Level 4, the highest professional level

• ICA qualifications are recognised as leading internationally benchmarked qualifications that set the standards for competency in Compliance, Anti-Money Laundering and Financial Crime Prevention. They regularly appear as recommended or approved in regulators’ training manuals worldwide.

• The ICA is the government appointed lead provider of Financial Industry Competency Standards accredited training and assessment programmes in the field of compliance in Singapore

INTERNATIONAL COMPLIANCE ASSOCIATION QUALIfICATIONS

61




LEVEL: Advanced

PREREQUISITES: A sound educational background, e.g. degree or professional qualification in an appropriate discipline or attainment of the ICA Certificate in Anti-Money Laundering Awareness (International or UK) or three years relevant work experience.



DATES: Enrolment closing date: 28th November 2011 Workshop 1: 12 January 2012 Workshop 2: 6 March 2012 Workshop 3: 1 June 2012 Workshop 4: 3 September 2012 Examination: 20 September 2012

ICA INTERNATIONAL DIPLOMA IN ANTI-MONEY LAUNDERINg

OvERvIEWAs a professional in the field of Anti-Money Laundering and fraud prevention, you are already well aware of the benefits of, and the regulatory requirements for, training in the industry. The fast changing environment has given rise to an entire money laundering prevention training industry offering a wide variety of options. The ICA is amongst the foremost and one of the very few that provides an international perspective on Anti-Money Laundering. By offering certificated qualifications awarded in association with the University of Manchester Business School, the ICA is confident that its graduates are well equipped to deal with the Anti-Money Laundering issues that arise in their day-to-day activities.

The ICA International Diploma in Anti-Money Laundering is unique. It is designed for Anti-Money Laundering professionals who already have a degree of experience. The diploma provides detailed and comprehensive knowledge as well as practical skills in order that financial services practitioners can undertake their responsibilities more efficiently and effectively. By drawing upon international best practice, it helps prepare individuals to adapt to the external environment.

Written and delivered by experienced industry practitioners, the diploma is both relevant and topical. Subjects included in the programme are explored in-depth with extensive course material that can be used in the workplace. The diploma will help you develop best practice initiatives and prepare you to face present and future challenges, which in turn minimises risk for your firm.

This certificated programme is a benchmark qualification, illustrating the highest standards in Anti-Money Laundering practice. The diploma is awarded in association with the prestigious University of Manchester Business School. Attainment of the qualification is an internationally recognised mark of excellence. The diploma provides valuable reference material and support for those in the Anti-Money Laundering environment. Those who have undertaken the diploma say that their performance in the workplace improves and opportunities for career progression have been enhanced.


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University of Manchester Business School • 9 months duration • Comprehensive, detailed course materials that

can be used in the workplace • Written by experienced industry practitioners • Internationally focussed • Detailed support readings and texts • Extensive online resource materials • Dedicated tutor support

kEY BENEfITS • Improved knowledge, developed skills • Reduced reputational and financial risk for

firms • Enhanced workplace performance • Allows use of the designation Int. Dip (AML) • Potential for career progression • Professional membership of the International

Compliance Association • Verifiable evidence of learning

PROgRAMME CONTENTThe ICA International Diploma in Anti-Money Laundering is comprehensive and reflects the regulatory environment today. The programme focuses on relevant international best practice, legislation and regulations. It examines various strategies, frameworks and vulnerabilities. Elements involved in the reporting of suspicious transactions are explored. Internal controls are considered including the design of a money laundering prevention framework. With course materials that are regularly updated, the diploma focuses on current major issues that impact upon the money laundering prevention role.

A summary of the four core modules follows. For more detailed information on what each module contains, please visit the International Compliance Association website at www.int-comp.org and download the syllabus, or contact the International Compliance Association for one to be sent to you.

moDule 1: AntI-money lAunDeRIng StRAtegIeS, FRAmeWoRkS AnD vulneRABIlItIeS • International Anti-Money Laundering Strategies • National Anti-Money Laundering Frameworks • Money Laundering Techniques and the

Vulnerabilities of Specific Financial Services Products

moDule 2: AntI-money lAunDeRIng RepoRtIng AnD DeAlIng WItH tHe AutHoRItIeS • Recognition, Handling and Reporting

Transactions • Post-Reporting Considerations • Dealing with the Authorities

moDule 3: DeSIgnIng AntI-money lAunDeRIng FRAmeWoRkS, RISk pRoFIlIng teCHnIQueS AnD CuStomeR Due DIlIgenCe • Designing a Comprehensive Anti-Money

Laundering Framework for a Financial Services Business

• Customer Due Diligence in Practice and Risk Profiling

moDule 4: ComplIAnCe CultuRe • The Duties and Responsibilities of the Money

Laundering Reporting Officer • Engendering an Effective Compliance Culture


contributing towards the final grade • 3 hour 15 minute open-book examination

PROfESSIONAL QUALIfICATION AWARDThe ICA International Diploma in Anti-Money Laundering is awarded in association with The University of Manchester Business School. Quality assured by the University, the programme is at honours degree level, which designates the programme ‘Graduate Diploma’. The diploma has been mapped in accordance with the Higher Education Qualification Framework. On successful completion of the Diploma, you will be eligible for membership of the ICA and be able to use the designation MICA, Member of the International Compliance Association.





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ICA INTERNATIONAL DIPLOMA IN fINANCIAL CRIME PREvENTION

OvERvIEWPrevention of fraud and financial crime are global issues for the industry and regulatory authorities alike. The increase in and varieties of fraud continue to challenge financial services practitioners the world over. Success in managing this constantly evolving risk involves a strategic approach and the importance of having the right knowledge and skills cannot be underestimated. Education and training is fundamental and the ICA International Diploma in Financial Crime Prevention can help.

Global businesses today need global solutions. By offering this certificated, professional qualification in association with The University of Manchester Business School, the ICA is confident that diploma graduates are well equipped to deal with fraud issues that arise in their day-to-day activities.

The ICA International Diploma in Financial Crime Prevention is a detailed, comprehensive programme, drawing upon international best practice. The knowledge gained enables you to identify risks and shows you how they can be mitigated. You will learn about your own regulatory environment and be asked to create and implement a fraud prevention policy. You will study the legal dimensions, the motivations behind criminal activity and how to undertake an investigation all the way through to prosecution. Wherever you are in the world, you can benefit from this programme. It will build upon your existing experience and help you stay one step ahead of today’s sophisticated fraudsters.

Written by experienced industry practitioners, the diploma is a practically-focused qualification that imparts useful skills that can be used in the workplace. This is not just another fraud prevention training programme. This is certificated learning, providing a benchmark of excellence that is recognised the world over. Aside from increasing your knowledge, and helping you to better protect your firm, undertaking the ICA International Diploma in Financial Crime Prevention will enable you to demonstrate your expertise, which can help you realise your career aspirations.



University of Manchester Business School • 9 months’ duration • Comprehensive, detailed course materials that

can be used in the workplace • Written by experienced industry practitioners • Internationally focussed • Jurisdiction specific material • Detailed support readings and texts • Extensive online resource materials • Dedicated tutor support

kEY BENEfITS • Career progression • Advanced knowledge, developed skills • Enhanced performance in the workplace • Professional membership of the International

Compliance Association • Reduced financial and reputational risk for

firms • Verifiable evidence of learning


LEVEL: Advanced

PREREQUISITES: Sound educational background, e.g. degree or professional qualification in an appropriate discipline or attainment of the ICA Diploma in Anti-Money Laundering or Compliance or three years relevant work experience

SUITABLE FOR: Fraud Prevention Officers, Managers and Deputies, Money Laundering Reporting Officers and Deputies, Money Laundering Prevention Officers and Deputies, Managers with responsibility for internal Anti-Money Laundering and compliance controls, Risk Managers, Internal Auditors, Regulatory staff, Fraud Investigation staff and Individuals who have completed ICA qualifications (UK or International)


DATES: Enrolment closing date: 13 February 2012 Free briefing session to find out more: 10 January 2012 Workshop 1: 7 March 2012 Workshop 2: 17 April 2012 Workshop 3: 10 July 2012 Workshop 4: 9 October 2012 Examination: 22 November 2012


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PROgRAMME CONTENTThe ICA International Diploma in Financial Crime Prevention is comprehensive. The initial module acts as an introduction to financial crime and explores its character, the risks and a profile of financial criminals. The global legal dimension and the types of crimes that are financially motivated are considered in the second module while Module 3 discusses the investigation and prosecution of financial crime. The final module deals with civil law and compliance and the regulatory control of financial crime giving a complete programme of learning to equip anyone who works in fraud and financial crime prevention.

moDule 1: IntRoDuCtIon AnD geneRAl ISSueS In tHe pReventIon AnD ContRol oF FInAnCIAl CRIme • Unit 1 – Financial Crime – Its Content • Unit 2 – Identification, Control and

Management of Risk in the Context of Financial Crime

• Unit 3 – Profiling and Dealing with Financial Criminals

moDule 2: tHe lAW AnD pRACtICe RelAtIng to FInAnCIAl CRIme • Unit 4 – The Law of Financial Crime • Unit 5 – Crimes that are Financially Motivated • Unit 6 – Facilitative Financial Crimes • Unit 7 – Bribery and Corruption

moDule 3: tHe InveStIgAtIon AnD pRoSeCutIon oF FInAnCIAl CRIme • Unit 8 – The Criminal Process

moDule 4: tHe CIvIl AnD RegulAtoRy ContRol oF FInAnCIAl CRIme • Unit 9 – The Civil Law • Unit 10 – Regulatory and Compliance Action


contributing towards the final grade • 3 hour 15 minute open-book examination

PROfESSIONAL QUALIfICATION AWARDThe ICA International Diploma in Financial Crime Prevention is awarded in association with The University of Manchester Business School. Quality assured by the University, the programme is at honours degree level which designates the programme ‘Graduate Diploma’. It has been mapped in accordance with the Higher Education Qualification Framework.

On successful completion of the ICA International Diploma in Financial Crime Prevention, you will be eligible for membership of the ICA and be able to use the designation MICA, Member of the International Compliance Association.





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ICA INTERNATIONAL CERTIfICATE IN ANTI-MONEY LAUNDERINg AWARENESS


LEVEL: Introductory

PREREQUISITES: None

SUITABLE FOR: Anti-Money Laundering employees, fraud employees and all individuals engaged in financial services and who aspire to a career in Anti-Money Laundering or fraud prevention.


DATES: Enrolment closing date: 12 December 2011 Workshop and examination: 19 March 2012

OvERvIEWThe ICA International Certificate in Anti Money Laundering Awareness is designed to be a good introduction to Anti-Money Laundering and provide a foundation for further study. It details all the key elements anyone working in money laundering prevention needs to know.

By studying the programme, individuals can enhance their understanding of the various threats to which their organisation is exposed and the part they can play in helping reduce those risks. The course reflects the external environment today and helps prepare for future challenges.

kEY fEATURES • An awareness-level education programme



practitioners • Specialist modules • Extensive support and resource material

PROgRAMME CONTENTThe programme has been designed with a structured training format but is also flexible in that it meets the needs of the individual delegate.

All delegates will study a core module that covers: • Understanding Money Laundering • Anti-Money Laundering Laws • Identifying Money Laundering Activity • Handling the Risk of Tipping off • Terrorist Financing – how does it differ from

money laundering? • Politically Exposed Person Risk (PEP Risk)

Delegates will then study one of the specialist modules from the following list: • Trust and Company • Banking • Insurance and Investment Business • Gaming • Mobile Financial Services • Management Module

COURSE ASSESSMENT • A one hour multiple-choice examination






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ICA INTERNATIONAL CERTIfICATE IN fINANCIAL CRIME AWARENESS


LEVEL: Introductory

PREREQUISITES: None

SUITABLE FOR: All staff who need to be aware of financial crime risks, financial crime and fraud prevention employees and all individuals engaged in financial services who aspire to a career in fraud/financial crime prevention


DATES: Enrolment closing date: 16 January 2012 Workshop and testing session: 24 April 2012

OvERvIEWThis programme is designed for all staff who need to be aware of financial crime risks. It will teach you how to identify fraud and to minimise risk. Early detection can make a significant difference so the programme explains what to do in the event of suspicion. It highlights the consequences of when suspicions are ignored. The various types of fraud are explored as well as Anti-Money Laundering. Drawing upon international best practice, you will also learn about specific types of fraud.

By the end of the programme, all you will have a good contextual understanding of the external environment and the risks you are helping to manage. Your existing knowledge will have been enhanced and your performance should improve.

kEY fEATURES • An awareness level education programme



practitioners • Extensive support and resource material

PROgRAMME CONTENTCoRe moDuleS • An Introduction to Financial Crime • The Legal and Regulatory Framework • Prevention and Detection of Specific Financial

Crime Risks • Investigation, Prosecution and Recovery

SpeCIAlISt moDuleS • Customer Account Fraud • Deposit Fraud • Lending and Credit Fraud • Corruption

mAnAgement moDule • Carrying out a Risk Assessment • Anti Fraud Strategies • Effective Control and Prevention Procedure • A Fraud Adverse Culture

COURSE ASSESSMENT • A one hour multiple-choice examination





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fINANCIAL CRIME PREvENTION fUNDAMENTALS

OvERvIEWThe programme examines a range of financial crime types, analyses the vulnerability of businesses to those crimes and examines the ways in which anti-financial crime measures can be strengthened. It is light on theory and heavy on practice, with content drawn from extensive experience in the investigation, prosecution and defence of numerous financial crimes in recent years.

20HOURSCPD

PROgRAMME DETAILS DURATION: 10 months x 2 hours (09.15-11.15)

PREREQUISITES: None

SUITABLE FOR: As well as being targeted at compliance and risk mitigation professionals, the programme is also aimed at senior management with whom the ultimate responsibility for financial crime prevention rests.

COST: £795 full programme £95 per individual seminar

DATES: Seminar 1 22 February 2012 Seminar 6 1 August 2012 Seminar 2 23 March 2012 Seminar 7 3 September 2012 Seminar 3 23 May 2012 Seminar 8 15 October 2012 Seminar 4 12 June 2012 Seminar 9 20 November 2012 Seminar 5 4 July 2012 Seminar 10 5 December 2012

SemInAR 1: CRImInAl vulneRABIlItIeS oF FInAnCIAl SeRvICeS AnD pRoDuCtSDate: 22 February 2012 • Criminal objectives • Use of financial services in predicate crime • Use of financial services in laundering • Use of financial services in disguising

ownership • Use of financial services in evasion forfeiture

SemInAR 2: CoRRuptIon AnD pep RISkDate: 23 March 2012 • Corruption as an issue • Corruption methodologies • Laundering methodologies • The role of financial institutions • Asset recovery • UK Bribery Act 2010 • Mitigating your risk of exposure to corruption

SemInAR 3: tHe (A)ngolA – (Z)ImBABWe oF SAnCtIonSDate: 23 May 2012 • Understanding different sanctions regimes • The extra-territorial effect of OFAC • The dangers of stripping • Anti-Terror Act claims • Case studies • How to manage the risk at clearing and beyond

SemInAR 4: uS extRA-teRRItoRIAlItyDate: 12 June 2012 • Information dissemination • Patriot Act – Section 317 • Patriot Act – Section 318 • Patriot Act – Section 319 • Extradition provisions • HIRE Act • Case studies

SemInAR 5: mARket ABuSeDate: 4 July 2012 • Misleading statements • Regulatory overview – Jersey and the United

Kingdom • Insider dealing and market abuse • Market manipulation tactics • The law in Jersey • Measures to prevent market abuse • Case studies

SemInAR 6: FRAuD RISkDate: 1 August 2012 • What is fraud? • Fraud types • Causes of fraud • Impact of fraud • Assessing an organisation’s vulnerability to

fraud • Fraud prevention and corporate governance • Strengthening anti fraud measures

PROgRAMME CONTENT

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SemInAR 7: money lAunDeRIng AnD teRRoRISt FInAnCIngDate: 3 September 2012 • Dispelling the myths about money laundering

and terrorist financing • The risk-based approach and money

laundering prevention • Permutations of laundering abuse of financial

services and products • Identifying money laundering risk in your

workplace • Identifying heightened terrorist financing risk in

certain relationships • Proliferation risk • Recent case studies

SemInAR 8: HoW to Due DIlIgenCe AnD RISk pRoFIle ClIentSDate: 15 October 2012 • CDD – what, why and when? • The risk-based approach to CDD • Understanding commercial rationale • CDD profiling • Barriers to effective CDD • Available CDD software and making effective

searches • Identifying and measuring risk factors

SemInAR 9: eFFeCtIve SAR RepoRtIng Date: 20 November 2012 • Reporting obligations • Gathering and assessing information • What makes an effective SAR • The dangers of defensive SARs • Post-reporting obligations

SemInAR 10: AnAlySIng FInAnCIAl CRIme exAmpleSDate: 5th December 2012 • Madoff • UBS (Tax evasion) • Siemens • Peter Michel • Bhojwani • Gichuru • Maluf

LEARNINg OUTCOMES • The programme is designed to ensure all

delegates will gain an understanding of the range of financial crime types and the vulnerability of their businesses to these crimes

• The programme will equip delegates with an understanding of financial crime prevention systems and controls

ADDITIONAL INfORMATION • Certificates of attendance are provided for

each seminar • Interchangeable delegate places are available • An evaluation questionnaire is given to all

delegates at the end of each seminar

Members20%discount

69



INTRODUCTION TO ANTI-MONEY LAUNDERINg AND CTf

ADvANCED ANTI-MONEY LAUNDERINg AND CTf

OvERvIEWCovering the basics of money laundering and terrorist financing, the course ensures employees understand the risk-based approach to the AML regime. Briefly covering the relevant AML legislation, the implications of failing to report information (under Art 34D) and the tipping-off offence are emphasised.

Aiming to be interactive, case studies are used to demonstrate the risk-based approach in action. A discussion will take place on what stops staff reporting, despite the legislation.

COURSE CONTENT • What is Money Laundering? • What is Terrorist Financing? • Vulnerabilities, Triggers, Risks and Responsibilities • The Enactments and the AML/CFT Handbook • What is the Risk-Based Approach? • Risk-Based Approach in Action – Case Studies • Mandatory and Post-Reporting Obligations

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have a better understanding of what constitutes money laundering • Be prompted to think about their own organisation’s vulnerabilities, and

how they can play a part in the fight against financial crime

OvERvIEW This course is designed to build upon the ‘basic’ anti-money laundering training that typifies in-house AML training sessions. It examines the manifestations of AML and CTF risk in detail in a variety of finance industry sectors.

COURSE CONTENT • Demystifying money laundering • The Risk-Based Approach to Customer Due Diligence • Emerging AML and CTF typologies • Constructive trust risk • Corruption and Bribery Act • Case study

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Acquire an enhanced understanding of the risk of AML and CTF • Positively contribute to the management of organisational risk controls


SUITABLE FOR: This course is designed for those new to the world of anti-money laundering, junior employees, support staff, and those who have changed role and are now caught under the AML legislation for the first time, thereby demonstrating to the regulator your organisation’s adherence to 7.2(6) of the Handbook.

COST: £155

DATES: Spring/Summer – 1 March 2012 Autumn/Winter – 1 November 2012


SUITABLE FOR: All staff who have received basic AML & CTF training.

COST: £295

DATES: Spring/Summer – 18 April 2012 Autumn/Winter – 14 November 2012

3HOURSCPD

6HOURSCPD



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MLRO AND MLCO INDUCTION HIRE ACT – ARE YOU PREPARED?

OvERvIEWThis course is split into two halves to provide equal and distinct training on both roles, which are often fulfilled by one and the same person, but would provide good insight to those looking to move in either direction.

COURSE CONTENT • Senior management responsibilities • Money laundering myths • The role of the MLRO • Dealing with the authorities • The role of the MLCO • AML risk management • Designing an AML compliance framework • Designing an AML compliance monitoring and testing programme • Protection from money laundering and terrorist financing • Drafting valuable MLRO and MLCO reports to the Board

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Understand money laundering and the mandatory reporting regime • Obtain a good understanding of how to implement an effective reporting

system and how to address barriers to the same • Be able to design a compliance and AML framework • Be familiar with the duties, responsibilities and key skills of both roles

OvERvIEWPractical training on the Foreign Account Tax Compliance Act (FATCA) Provisions of the Hiring Incentives to Restore Employment (HIRE) Act of 2011.

On 1st January 2014 the provisions of the broadest tax and information reporting legislation ever enacted will take effect globally. It will impact all non-US financial institutions including banks, investment funds and trusts. The effect will be significant. Businesses that do not prepare adequately to comply with the HIRE Act will be set on a collision course with the US Internal Revenue Service.

COURSE CONTENT • Understanding FATCA • Background • Objectives

– Why tax is the new ‘narcotic’ – How FATCA builds upon the QI regime

• The application of FATCA to businesses in Jersey

– The definition of Foreign Financial Institutions (FFIs) and Non-Financial Foreign Entities (NFFEs)

– The treatment of bank accounts, trusts and companies, investment funds

• How will FATCA work in practice? – What are US accounts? – The information sharing option and what it means in practice

– Withholding tax option and what it means in practice

• Preparing for FATCA – Impact on products – Amendments to internal documentation

– Amendments to due diligence procedures

– Enhancements to compliance programmes

– Amendments to systems • Case studies

LEARNINg OUTCOMEStHe WoRkSHop WIll eQuIp you to unDeRStAnD: • The key FATCA provisions of the

HIRE Act and how and why they apply to businesses in Jersey

• How the FATCA provisions build on the US Qualified Intermediary (QI) regime

• The choices available to businesses in Jersey in responding to the HIRE Act and what those choices mean in practice

• The risks of conducting business with any US person or entity beneficially owned by a US person

• Practical case studies to illustrate the potential impact of the FATCA provisions on Jersey businesses

• How you can prepare to comply with the HIRE Act


SUITABLE FOR: This course is designed for newly-appointed MLROs and MLCOs and would also be suitable for deputies looking to take on the full responsibility of either role. It is also suitable for those already working in a compliance function and looking to progress their careers in compliance/risk management.

COST: £295

DATES: Spring/Summer – 18 April 2012 Autumn/Winter – 11 October 2012

COURSE DETAILS DURATION: 3 hours (09.15-12.15)

SUITABLE FOR: Money Laundering Compliance Officers (MLCOs), Money Laundering Reporting Officers (MLROs), Compliance Officers, Risk Managers, Trust Directors, Directors, Non-Executive Directors (NEDs).

COST: £175

DATES: Spring/Summer – 28 February 2012 Autumn/Winter – 7 September 2012

6HOURSCPD

3HOURSCPD


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SANCTIONS BOOT CAMP

OvERvIEWPractical training on UK and Office of Foreign Asset Control (OFAC) Economic Sanctions.

This intensive half-day workshop will help you to understand: • The OFAC sanctions regime and how and why it applies to businesses in

Jersey • The risks of conducting business with any person appearing on any

sanctions list internationally • Key provisions of US Anti-Terrorism Act provisions and how the Act can be

used against businesses in Jersey • Examples of US enforcement action against non-US banks

COURSE CONTENTunDeRStAnDIng SAnCtIonS RegImeS • Bank of England/EU/Jersey • OFAC • The extra territorial reach of US sanctions and how they apply to US and

non-US persons • How US sanctions can bite against non-US persons including British

citizens working for Jersey financial institutions

DeSIgnIng A RISk-BASeD SAnCtIonS ComplIAnCe RegIme • Higher risk areas based on customers, products, services and geography • What to include in your compliance procedures manual • Who to screen beyond Ultimate Beneficial Owners (UBOs)

tHe CoStS oF non-ComplIAnCe. WHAt Do ReCent CASeS teACH uS? • Lloyds TSB, Credit Suisse, ANZ Banking Group, NatWest

FACIlItAtIon RISkS • What is and isn’t facilitation? • Case studies: Registered office, Syndicated lending, Aircraft leasing, Trust

and company ownership structures, Banking

LEARNINg OUTCOMEStHe WoRkSHop WIll eQuIp you to: • Identify and prevent facilitation risks • Detect Specially Designated Nationals (SDNs) and suspect arrangements • Design a risk-based sanctions compliance programme • Respond to suspect violations and conduct internal investigations

COURSE DETAILS DURATION: 4 hours (09.15-13.15)

SUITABLE FOR: Money Laundering Compliance Officers (MLCOs), Money Laundering Reporting Officers (MLROs), Compliance Officers, Risk Managers, Trust Directors, Directors, Non-Executive Directors (NEDs)

COST: £225

DATES: Spring/Summer – 23 February 2012 Autumn/Winter – 16 October 2012

4HOURSCPD

SARs – THEORY AND PRACTICE

OvERvIEWThis course aims to give a non-legalistic, comprehensive breakdown of the legislation by focusing on common problems facing financial services staff in the offshore environment, by providing scenarios and pragmatic advice on how to deal with the question. ’To report or not to report?’

COURSE CONTENT • Understanding AML offences • Introduction and impact of the new mandatory reporting requirements • What is suspicion versus knowledge? • The subjective versus objective standard of suspicion • What makes a good report? • Why might an organisation not report? • Post-reporting considerations • What happens if the police give their consent? • What happens if the police do not give their consent? • Dealing with constructive trust issues • Dealing with difficult clients where you have a suspicion • The dangers of tipping-off • Case study – how not to handle SARs!

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have an enhanced understanding of the issues surrounding suspicious

activity reporting and be able to apply this heightened awareness to improve the effectiveness of the risk management function within their organisation


SUITABLE FOR: Aimed at all finance industry delegates, in particular compliance and risk professionals, MLROs and MLCOs. A practical, informative course that gets to the heart of the realities of the legislation.

COST: £295


6HOURSCPD

Members20%discount

Members20%discount


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MLRO/MLCO MASTERCLASS WITH Gareth reeS QC & STEPHEN PLATT

OvERvIEWDrawing upon the recent professional experience of the facilitators in prosecuting, defending and investigating money laundering cases, this masterclass is designed to expose Jersey MLROs/MLCOs to cutting-edge education.

COURSE CONTENT • The statutory basis of the role of MLRO and MLCO • The elements of the role of MLRO and MLCO • Challenges • The dangers of getting it wrong • Emerging financial crime risks • Recent money laundering prosecutions in the UK and lessons • Recent money laundering investigations offshore and lessons • Recent money laundering cases that illustrate how money laundering risk

has ‘gone global’ • Case studies • Group exercises

LEARNINg OUTCOMESBy tHe enD oF tHe CouRSe pARtICIpAntS WIll Be ABle to: • Fully appreciate the nature of their obligations and the challenges that may

be faced in meeting them • Consider emerging financial crime risks and the suitability of existing

controls • Implement enhancements in response to lessons from analysed money

laundering investigations and prosecutions • Consider the adequacy of existing systems and awareness levels in the

context of the globalisation of the risk of money laundering and terrorist financing proliferation and sanctions


SUITABLE FOR: All MLROs, MLCOs and senior management

COST: £345

DATES: 24 May 2012 (Jersey) 25 May 2012 (Guernsey)

6HOURSCPD

INTRODUCTION TO OPERATIONAL RISk

OvERvIEWThis workshop is designed to introduce delegates to the basics of Operational Risk Management in financial services and clarify the distinctions between Operational Risk and other types of risk including Compliance and AML risk. The workshop encourages the development of an enterprise wide risk management framework.

COURSE CONTENT • Distinguishing operational risk • Risk identification • Risk assessment and measurement • The consequential effects of poor operational risk management • Operational risk management functions • Introduction to Basel III • Enterprise-wide risk management • Case studies • Group exercises

LEARNINg OUTCOMESBy tHe enD oF tHe WoRkSHop DelegAteS WIll Be ABle to: • Consider the adequacy of existing operational risk control frameworks • Implement enhancements • Consider the relationship between operational risk and other key risks and

reflect on functional roles and responsibilities


SUITABLE FOR: Compliance Officers, Operational risk staff, MLCO’s, Internal Audit, Directors

COST: £295

DATES: 14 June 2012

6HOURSCPD


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For Gareth Rees’ biography see page 35

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gOvERNANCE CERTIfICATED AWARENESS PROgRAMMES ACHIEvINg EffECTIvE CORPORATE gOvERNANCE 76

SHORT COURSES DIRECTORS’ DUTIES 77

CORPORATE gOvERNANCE IN REgULATED fINANCIAL SERvICES BUSINESSES 77



SemInAR 1: WHAt IS CoRpoRAte goveRnAnCe? • History of corporate governance • Drivers – the impact of the credit crunch • What are the essential ingredients of good

governance? • What are companies seeking to achieve

through the implementation of a corporate governance framework?

• Have lessons been learnt from the past? • In light of recent failings, what does corporate

governance seek to achieve in the future?

SemInAR 2: CoRpoRAte goveRnAnCe AS A RISk mAnAgement tool • Interplay of corporate governance as an

effective risk management tool • Appreciating Turnbull to assist in the

development and implementation of an effective corporate governance framework

• The role of compliance • The role of internal audit

SemInAR 3: tHe BoARD AnD CoRpoRAte goveRnAnCe • Extending directors’ duties and responsibilities • Selection and appointment • Role of the remuneration committee • Induction, appraisal and training • Board succession • Running an effective board • Corporate governance failings in the

boardroom • Assessing where the board went wrong

SemInAR 4: StAkeHolDeRS • Who are your stakeholders? • Do they have rights and powers? • What is their influence? • Managing stakeholders’ relationship with the

board • What role did stakeholders play in the credit

crunch? • What should their role be for the future? • Shareholder activism

SemInAR 5: engenDeRIng A poSItIve CoRpoRAte goveRnAnCe CultuRe • Creating effective governance architecture • The tone from the top/reinterpretation of good

leaders • Creating the values • Reality of achieving good communication • Ensuring accountability • The future…

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have an understanding of corporate

governance and its importance in the running of an effective business

• Have the ability to implement a positive governance architecture

• Recognise how good corporate governance impacts on their own organisations

• Identify the dangers of failing to understand the importance of corporate governance in the 21st century

ACHIEvINg EffECTIvE CORPORATE gOvERNANCE

OvERvIEWCorporate governance is an integral part of good business practice. The crisis in the banking industry and the global recession have put the area of corporate governance in the spotlight and, whilst there is no one cause, failures in corporate governance can be seen as a common theme. The course aims to provide an understanding of corporate governance, how it can be used to mitigate risk, the parties responsible for its implementation and monitoring, together with the wider responsibilities for corporate governance, past failings and the responses and implications of these failings.

PROgRAMME DETAILS DURATION: 5 months x 2 hours

SUITABLE FOR: This programme is designed for those seeking to understand the topical area of corporate governance as they aim to progress their careers in the finance industry to senior management or board level.

COST: £445 full programme £95 per individual seminar

DATES: Seminar 1: What is Corporate Governance? 6 Mar 2012 Seminar 2: Corporate Governance as a Risk Management Tool 3 Apr 2012 Seminar 3: The Board and Corporate Governance 1 May 2012 Seminar 4: Stakeholders 29 May 2012 Seminar 5: Engendering a Positive 26 Jun 2012

Corporate Governance Culture

10HOURSCPD

PROgRAMME CONTENT


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DIRECTORS’ DUTIESCORPORATE gOvERNANCE IN REgULATED fINANCIAL SERvICES BUSINESSES

OvERvIEWThis course gives a practical, comprehensive breakdown of the role of the director, and in particular, focuses on risks facing directors in the offshore environment and gives pragmatic advice on how to manage these ever-evolving risks.

COURSE CONTENT • Directors and the law • Running an effective board • The board’s corporate governance role • Selection and appointment of directors • Induction, appraisal and training of directors • Succession planning • Resignation and removal of directors • Insurance aspects • Duties of a director • Consequences of a breach of duty • Personal liability • Compliance and the role of directors • NEDs • Ensuring effective administration in the offshore environment

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Be equipped with a greater appreciation of the diversity and risk

associated with being a director • Be aware of the appropriate strategies and business tools to prepare

them and assist them in executing the function of director both effectively and in a risk-averse manner

OvERvIEWThe objective of this workshop is to keep regulated financial services businesses apprised of the latest trends in governance and with the JFSC’s expectations on the governance of license holders.

COURSE CONTENT • Developments in governance standards and the latest thinking • The rationale for robust governance in the post crisis era • What a robust governance framework looks like • Common problems/issues • Case studies

LEARNINg OUTCOMESBy tHe enD oF tHe WoRkSHop, DelegAteS WIll Be ABle to: • Objectively consider the robustness of existing governance frameworks • Identify necessary enhancements • Improve quality of management information


PREREQUISITES: None

SUITABLE FOR: This intermediate course informs client-facing staff who have recently been appointed as directors, risk professionals, company secretaries and directors about the reality and the requirements of the role.

COST: £295



PREREQUISITES: None

SUITABLE FOR: Directors, compliance officers, senior managers, company secretaries

COST: £155

DATES: Spring/Summer – 2 April 2012

6HOURSCPD

3HOURSCPD

77



“A number of our employees taking the Diploma in Regulated financial Planning attended a two-day revision course led by Chris. It proved an extremely valuable exercise and a timely opportunity as all HSBC staff subsequently passed their exam.”Justin Bull, Head of Wealth, HSBC


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INvESTMENT BUSINESSPROfESSIONAL QUALIfICATIONS CISI INvESTMENT OPERATIONS CERTIfICATE (IOC) 80

CISI RISk IN fINANCIAL SERvICES QUALIfICATION 81

CISI PRIvATE CLIENT INvESTMENT ADvICE & MANAgEMENT (PCIAM) 82

CISI INvESTMENT ADvICE DIPLOMA (IAD) 83

CII DIPLOMA IN REgULATED fINANCIAL PLANNINg 84

CfA INvESTMENT MANAgEMENT CERTIfICATE (IMC) 85

CERTIfICATED AWARENESS PROgRAMME INvESTMENT BUSINESS 86

SHORT COURSES UNDERSTANDINg SECURITIES MARkETS 87

INTRODUCTION TO BANkINg 87

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CISI INvESTMENT OPERATIONS CERTIfICATE (IOC)

OvERvIEWThe Chartered Institute for Securities & Investment (CISI) is the principal provider of qualifications for the securities and investment industry. Its exams are taken in over 75 countries. The IOC is a global practitioner-led programme and equips individuals with an overview of the financial services industry and its regulation as well as providing a detailed picture of their particular industry sector.

COURSE DETAILS DURATION: 2 days per unit (09.15-16.15)

LEVEL: Certificate – Ofqual Level 3

COST: £1500 for all units (including all materials but excludes exam costs) £500 per unit (including all materials but excludes exam costs)

SUITABLE FOR: Employees working in, or aspiring to work in, operations for both wholesale and retail firms.

DATES: Spring/Summer Autumn/Winter tuition Revision day tuition Revision day Unit 1 1 Mar 2012 2 Apr 2012 4 Sep 2012 8 Oct 2012 Unit 2 22 May 2012 25 Jun 2012 6 Nov 2012 3 Dec 2012 Unit 3 12 Sep 2012 15 Oct 2012 To be confirmed Unit 4 21 Nov 2012 6 Dec 2012 To be confirmed

COURSE CONTENTUnit selection depends on individual circumstances but delegates would complete the two core units: • Unit 1: Introduction to Securities and

Investment • Unit 2: FSA Financial Regulation

Followed by one technical unit relevant to the role of either: • Unit 3: Risk in Financial Services • Unit 4: Administration of Settlement and

Investments (formerly known as Private Client Administration)

To be awarded the full IOC delegates must secure passes in three units. Each examination is in multiple-choice format.

LEARNINg OUTCOMESThe IOC is a foundation qualification for people working in operations.

Students receive free student membership for 12 months on completion of the qualification registration form.

Typical learning outcomes will include: • An understanding of the principles of

regulation • Be able to competently discuss investment

asset classes and products • An understanding of the regulatory framework

relating to financial crime

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OvERvIEWSuccessfully managing risk is a fundamental requirement for any effective business. In financial services it is a critical component. Part of the responsibility for the credit crisis is widely attributed to a poor understanding of risk.

The Chartered Institute for Securities & Investment (CISI) Risk in Financial Services qualification is a comprehensive global introduction to all the major risk areas in financial services. It provides a sound grounding in:• Principlesoftheriskmanagementframework• Corporategovernanceandriskoversight

The qualification also covers specific techniques used in identifying, reducing and managing specific risks in the following areas:• Operationalrisk• Creditrisk• Marketrisk• Investmentrisk• Liquidityrisk

The Risk in Financial Services exam also qualifies as an IOC technical unit.

Risk in Financial Services: Two-hour paper consisting of 100 multiple-choice questions.

WHo DevelopeD tHIS?This exam is awarded by the CISI, which is the premier supplier of financial services qualifications to the securities and investment industry. Over 40,000 exams are taken each year.

The CISI is a charity, registered in the UK, whose exams are taken throughout the world. It has offices in the Middle East, India, China and Singapore. The qualification has been developed with input from expert practitioners from leading global financial firms, including AXA Investment Managers and the Bank of New York Mellon.

It provides delegates with a clear benchmark to demonstrate that they have acquired the necessary knowledge to carry out their job roles competently.

RegulAtoRy AppRovAlThe CISI is recognised as an Awarding Body by the UK Office of the Qualifications and Examinations Regulator. Many of the CISI’s qualifications are mandated by different regulators around the world, so both individuals and firms can be confident that the CISI’s processes, policies and systems meet rigorous quality assurance standards.

CISI RISk IN fINANCIAL SERvICES QUALIfICATION– TECHNICAL UNIT fOR IOC


LEVEL: Certificate – Ofqual Level 3

PREREQUISITES: There are no entry requirements or exemptions.

SUITABLE FOR: The Risk in Financial Services qualification has been developed to provide delegates with a broad understanding of the key risks that arise within the financial services industry. This qualification can be taken as a stand alone qualification or a technical unit of the Investment Operations Certificate.

COST: £500 (including materials but excluding exam cost)

DATES: Tuition Day: 12 September 2012 Revision Day: 15 October 2012

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CISI PRIvATE CLIENT INvESTMENT ADvICE & MANAgEMENT (PCIAM)

COURSE DETAILS DURATION: 9 days for full programme (09.15-16.15) LEVEL: RDR Level 6

PREREQUISITES: Level 3 qualifications

SUITABLE FOR: Advisers needing to become RDR-compliant

COST: £995 for 3 introduction and 3 consolidation days (inclusive of materials) £650 for 3 day revision module (no materials) £1485 (full programme of 9 days) All costs exclude exam fees

DATES: Spring/Summer Autumn/Winter Introduction 1, 2, 3 February 2012 17, 18, 19 September 2012 Consolidation 26, 27, 28 March 2012 24, 25, 26 October 2012 Revision 18, 19, 20 June 2012 26, 27, 28 November 2012

IN-HOUSE: This course can be organised in-house if numbers allow

Gaining the Certificate in Private Client Investment Advice and Management demonstrates the ability to identify clients’ needs and provide solutions to those needs. This is a demanding test, which delegates are advised not to attempt without sufficient practical experience.

The exam reflects situations and issues that practitioners will encounter and requires students to apply their knowledge to answer case studies, write reports and explain techniques and terms.

PCIAM is made up of one three-hour unit, which is delivered in narrative format. Exam sessions are normally held every three months.

In addition to being a standalone qualification, this certificate also forms one unit of the CISI Diploma. The certificate is a Level 6 qualification and so, with a small amount of gap-filling fulfils the requirements of the RDR.

The course that we are offering is nine days in duration and will take you through all aspects of the syllabus together with revising the key areas, question practice and exam technique.

RetAIl DIStRIButIon RevIeW (RDR)

The RDR was launched by the FSA in June 2006 to address many of the persistent problems observed in the retail investment market. Increasing professional standards has been a key aim of the RDR. In CP09/31, the FSA clarifies details regarding the new Level 4 standards. This includes a list of transitional, existing or legacy qualifications that can be used by existing advisers to demonstrate that they meet the higher level exam requirements and a set of new core standards for the Level 4 exams which were finalised recently.

The FSA sets out how the gaps between existing and legacy Level 4 (or higher) qualifications and the new exam standards need to be met through appropriate ‘top-up’ continuing professional development (CPD).

RevIeW oF FInAnCIAl ADvICe

The Jersey Financial Services Commission (JFSC) is consulting on its intention to raise professional standards by introducing cetrain aspects of the Retail Distribution Review (RDR) under the Review of Financial Advice.

It proposes that all retail investment advisers should comply with the new requirements to hold a minimum Level 4 qualification by 1 January 2014 and to also obtain a Statement of Professional Standing (SPS).


OvERvIEWThe Certificate in Private Client Investment Advice & Management (PCIAM) has been designed to enable existing practitioners to demonstrate their broad understanding of the principles of private client investment advice, within the context of the current regulatory environment. By completing a small amount of Continuing Professional Development (CPD) the qualification provides a route to RDR/FRA compliance.

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CISI INvESTMENT ADvICE DIPLOMA (IAD)

COURSE DETAILS DURATION: Unit 1: 11 weeks x 2 hrs (Evening course) (17.30 –19.30)

Unit 2: 12 weeks x 2 hrs (Evening course) Unit 3: 11 weeks x 2 hrs (Evening course)

LEVEL: Diploma – Ofqual Level 4

PREREQUISITES: None

SUITABLE FOR: Experienced and new advisers seeking RDR compliance

COST & DATES: Spring/Summer Autumn/Winter Unit 1: £750 including materials Starts 27 Feb 2012 17 Sep 2012 Unit 2: £950 including materials Starts 23 Feb 2012 20 Sep 2012 Unit 3: £750 including materials Starts 29 Feb 2012 2 Oct 2012 All costs exclude exam fees, which are payable to CISI directly


COURSE CONTENTCompulSoRy unItS: • Unit 1 FSA Regulation and professional

integrity • Unit 2 Investment, risk and taxation

pluS one oF tHe FolloWIng unItS: • Securities • Derivatives • Private client advice

LEARNINg OUTCOMESThe IAD is for both new and existing advisers aiming to achieve competent status in relation to investment advice under new RDR/RFA guidelines.

Typical learning outcomes will include: • Understanding of the principles of investment

risk and return • An understanding of the regulatory framework

relating to financial crime • A knowledge of the conduct of business rules

covering the fair treatment of customers, the provision of advice and services and client money protection

• The ability to confidently explain the complaints and compensation framework

• Understand the macro-economic environment • Be able to discuss investment products

and the principles of investment advice and planning

OvERvIEWThe IAD is the CISI’s new qualification specifically developed to comply with the new examination standards of the RDR/RFA. It appears on the FSA’s/JFSC’s appropriate examination list and is at Diploma level to reflect the amount of learning required.

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CII DIPLOMA IN REgULATED fINANCIAL PLANNINg

COURSE DETAILS DURATION: 1 day revision course (09.15-16.15)

SUITABLE FOR: Financial advisers, private wealth managers, solicitors, and accountants.

COST & DATES: R01 Financial services, regulation and ethics 2 March 2012 £295 R02 Investment principles and risk 3 April 2012 £295 R03 Personal taxation 30 May 2012 £295 R04 Pensions and retirement planning 15 June 2012 £295 R05 Financial protection 24 July 2012 £295 R06 Financial planning practice 24 August 2012 £295 Prices exclude materials and exam fee


COURSE CONTENTThe Diploma in Regulated Financial Planning is suitable both for new entrants and experienced advisers seeking to upgrade to Level 4. It is the new benchmark qualification for advisers.

The Diploma in Regulated Financial Planning covers the six required subject areas identified by the FSA/FSSC: • (R01) Financial services, regulation and ethics • (R02) Investment principles and risk • (R03) Personal taxation • (R04) Pensions and retirement planning • (R05) Financial protection • (R06) Financial planning practice

To complete the Diploma in Regulated Financial Planning you need to pass all six units. Holders of the first unit in Financial Services, Regulation and Ethics are authorised to advise under supervision while they work towards completion of the full diploma.

The Diploma in Regulated Financial Planning is modular in structure, with five of the six units being multiple-choice tested and therefore examined year-round. The sixth, the planning unit R06, is examined six times a year. This enables delegates to build a study programme around known commitments and busy periods. Provisional results for the multiple-choice examinations are released immediately on completion, with results released in four weeks for the written exam.

Upon completion delegates will be awarded the Diploma in Regulated Financial Planning. PFS members are entitled to use the designation DipPFS (CPD requirements apply).

Credits obtained in completing the diploma can also be used towards the Advanced Diploma in Financial Planning, leading to Chartered Financial Planner status.

LEARNINg OUTCOMES • Understand the principles of financial advice • Be able to confidently explain a wide range of

products to clients • Understand the UK tax system • Explain pensions and retirement planning

The Chartered Insurance Institute

OvERvIEWThis qualification has been created to meet the new FSA exam standards (Qualifications and Credit Framework Level 4) in full. It fully reflects feedback and discussion with the market with regards to the format, availability and exam methodology.


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CfA INvESTMENT MANAgEMENT CERTIfICATE (IMC)

OvERvIEWThe IMC is recognised by the fund management industry as the entry level qualification of choice for those working in financial analysis and investment management in the UK and is often quoted as a prerequisite for posts in investment management companies. The IMC also offers a good introduction to the financial services industry for those working in support areas, such as information technology and marketing, and it provides a solid foundation for Level I of the Chartered Financial Analyst (CFA) Programme.

COURSE DETAILS DURATION: 11 / 12 weeks (Evening course)

PREREQUISITES: The IMC examination is open to both members and non-members of the Society. Delegates are expected to have at least six months experience in the financial services industry before attempting this examination.

COST: Unit 1 – (11 weeks) £750 including study materials Unit 2 – (12 weeks) £950 including study materials Cost excludes examination fee

START DATES: Unit 1 Starting 21 February 2012 (Tuesdays 17.30-19.30)

Unit 2 Starting 22 February 2012 (Wednesdays 17.30-19.30)

COURSE CONTENTThe IMC is administered by the CFA Society of the UK (formerly known as UK Society of Investment Professionals). Its objective is ‘to test the delegate’s knowledge and understanding of the regulations and practices of financial markets, categories of securities and principles of investment management’.

To achieve full IMC accreditation delegates must complete Units 1 and 2 successfully.

LEARNINg OUTCOMESWHAt QuAlIFICAtIon WIll I gAIn?The IMC is recognised by regulatory bodies including the Financial Services Skills Council and Jersey Financial Services Commission as the benchmark qualification for people working in investment management and fund sales.

HoW WIll It Be ASSeSSeD?Each unit has a multiple-choice examination. The examination fee is not included in the course fee – students must self-register with CFA Society of the UK (formerly known as UK Society of Investment Professionals).

WHAt DoeS tHIS CouRSe leAD on to?Delegates who successfully pass the full IMC qualification may apply to join the CFA Society of the UK and use the designatory letters IMC.

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INvESTMENT BUSINESS

OvERvIEWThis course is designed to deliver an understanding and awareness of investment business. Split into seminars, delegates can attend all or part of the programme.

PROgRAMME DETAILS DURATION: 9 x 2 hours (09.15-11.15)

COST: £675 including study materials £85 per seminar if booked separately

DATES: Seminar 1: Bonds and How They Work 21 February 2012 Seminar 2: How to Carry Out a Portfolio Review 19 March 2012 Seminar 3: Investment Risk for Trustees 10 May 2012 Seminar 4: The Role of a Custodian 6 June 2012 Seminar 5: Investment Sales Tips 4 July 2012 Seminar 6: Basic Financial Maths 7 August 2012 Seminar 7: Financial Markets 5 September 2012 Seminar 8: Fundamentals of Offshore Funds 3 October 2012 Seminar 9: Understanding Investment Risk with Clients 7 November 2012


COURSE CONTENTSemInAR 1: BonDS AnD HoW tHey WoRk • What is a bond and how do they work? • Types of bond and their risk profile • How to value bonds • Investment planning with bonds

SemInAR 2: HoW to CARRy out A poRtFolIo RevIeW • How to establish investment returns • Risks to consider when reviewing a portfolio • Recommending a different course of action • Working out share performance • Returns on investments

SemInAR 3: InveStment RISk FoR tRuSteeS • Different types of risk • Implications for trustees • How to reduce risk

SemInAR 4: tHe Role oF A CuStoDIAn • What are the roles and risks of a custodian? • How to due diligence • How the safekeeping role operates in practice • Day-to-day operations

SemInAR 5: InveStment SAleS tIpS • How to increase revenue opportunities • Fact-finding a client • Client disturbance techniques • Closing the sale

SemInAR 6: BASIC FInAnCIAl mAtHS • Calculating ratios and working out

percentages • Simple equations • Maths in the workplace

SemInAR 7: FInAnCIAl mARketS • The main markets – equity and debt • Different types of products • Financial instruments

SemInAR 8: FunDAmentAlS oF oFFSHoRe FunDS • Main types of offshore funds • Their place in wealth management • Why are they beneficial?

SemInAR 9: unDeRStAnDIng InveStment RISk WItH ClIentS • Use of risk tolerance questionnaires to

establish risk profile • Does your client understand risk? • Explaining investment risk to clients

LEARNINg OUTCOMESupon CompletIon oF tHe CouRSe pARtICIpAntS WIll: • Have a greater understanding of the key issues

around investment business • Be able to confidently explain different

elements of investment risk • Know how to complete financial equations • Be able to explain the role of offshore centres

18HOURSCPD


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UNDERSTANDINg SECURITIES MARkETS

INTRODUCTION TO BANkINg

COURSE OvERvIEWThis one day course is aimed at developing a better understanding of the securities markets and how they operate. This course aims to examine the role of various markets for raising capital. It details how this is achieved and also how the markets are regulated.

COURSE CONTENT • Raising capital in debt or equity markets • Main financial instruments • Primary and secondary markets • Fixed income and bond markets • Clearing houses and depositary services • How markets are regulated

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Appreciate the role that securities markets play in financial services • Understand the features and benefits of the major markets • Be able to describe how clearing houses work and how markets are

regulated

COURSE OvERvIEWThis course is suitable for delegates who are hoping to improve their knowledge of the banking industry. It will aid understanding of the different elements of banks and their role in the wider economy. Finally, it will look at how banks operate and the regulation of the banking system.

COURSE CONTENT • The different types of banking – retail, wholesale and investment banking • Banking terminology • Importance of the banking system and how it interacts with the economy • How and why banks grow their balance sheet • Fractional banking • Why banks take risks • Regulation and changes to the banking system

LEARNINg OUTCOMESon CompletIon oF tHe CouRSe you WIll: • Be able to confidently explain how the banking system works • Have an understanding of the different elements of a bank, such as

corporate finance and private banking • Have gained an understanding of the regulation of the banking system


SUITABLE FOR: Investment Managers Private Bankers Portfolio Managers Finance Professionals Directors Trustees

COST: £295

DATES: Spring/Summer – 9 March 2012 Autumn/Winter – 12 October 2012


SUITABLE FOR: Junior Finance Professionals Personal Bankers Support staff who want to develop a deeper understanding of banking Investment Employees Trust Company Employees Financial Services Professionals looking to develop their career

COST: £155


6HOURSCPD

3HOURSCPD

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formerly an investment manager, Chris has advised both individuals and corporate entities on complex investment scenarios.


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INvESTMENT fUNDSPROfESSIONAL QUALIfICATIONS fUND ADMINISTRATION: ADvANCED CERTIfICATE IN fUND ADMINISTRATION 90

fUND ADMINISTRATION: DIPLOMA IN fUND ADMINISTRATION 93

SHORT COURSES fUNDAMENTALS Of fUND ADMINISTRATION 97

COMPLIANCE IN fUND ADMINISTRATION 98

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fUND ADMINISTRATION: ADvANCED CERTIfICATE IN fUND ADMINISTRATION

A practical qualification for fund administrators awarded in association with The University of Manchester Business School.

OvERvIEWThe Advanced Certificate gives a detailed overview of the environment in which investment takes place and an introduction to the role of the fund administrator. It is designed to provide an understanding of the responsibilities of the fund administrator as well as the practical skills to undertake the daily operations of a fund in a consistent, productive and competent manner.

Whilst it is primarily designed for the fund administrator, the Advanced Certificate will be of interest to all fund practitioners. It is suitable for new entrants who would like to expand their understanding, as well as the more experienced members of the funds community who wish to develop their core understanding of the different facets of the funds industry and acquire broader expertise.

Completion of the Advanced Certificate leads on to the Diploma in Fund Administration.

BENEfITSThis course will: • Arm you with a certificated, practical

qualification, which is underpinned by sound academic content

• Enhance your ability to deliver a high-quality, consistent and holistic fund administration service

• Enhance your own reputation as well as that of your firm

• Improve your workplace performance and increase your potential for career progression

kEY fEATURES • An intermediate-level, certificated programme

resulting in a practical qualification • Comprehensive, bespoke course materials

written by experienced industry practitioners • Extensive support and resource material,

including online webinars • A variety of study options • Awarded in association with The University of

Manchester Business School • Provides a pathway to the Diploma in Fund

Administration

STUDY OPTIONSThe Advanced Certificate will take five months to complete. There are three different study options:

WoRkSHop optIonWorkshops are set approximately halfway through the programme and provide an opportunity for participants to work through and enhance their understanding of the course material with an industry expert. Workshops are designed to be interactive and networking with industry peers is encouraged. Workshops are run subject to sufficient enrolments.

DIStAnCe leARnIngThe Advanced Certificate is also available in a distance learning format.

Additional materials are included in the learning pack to ensure that delegates gain a thorough education. Delegates will also have access to a series of online webinars.

In-HouSe CouRSeSThe Advanced Certificate may be delivered in-house as a bespoke programme, tailored to the specific needs of your firm.

In order to pass the Advanced Certificate, you must successfully complete a three hour open-book examination. Those who successfully pass the examination will be awarded the Advanced Certificate in Fund Administration.

COURSE DETAILS DURATION: 5 months

LEVEL: Intermediate

PREREQUISITES: A sound educational background or some exposure to the financial services industry and the ability to complete the reading and written aspects of the course in English.

SUITABLE FOR: Whilst it is primarily designed for the fund administrator, the Advanced Certificate will be of interest to all fund practitioners. It is suitable for new entrants who would like to expand their understanding, as well as the more experienced members of the funds community who wish to develop their core understanding of the different facets of the funds industry and acquire broader expertise.

COST: £1500 if booked separately from Diploma £2800 Advanced Certificate and Diploma package

DATES: To be advised

INTRODUCTIONWith the funds industry going from strength to strength and recovering from the financial downturn, there has never been a more critical time for fund administrators to arm themselves with the academic and practical knowledge required to provide an industry-leading service.

As the demand for attention to detail and timeliness in fund administration increases, administrators need to be equipped to meet the ever-increasing industry and regulatory demands. The Advanced Certificate in Fund Administration enables you to demonstrate, through a certificated qualification, that you have the knowledge and skills necessary to provide an excellent fund administration service and one which differentiates you from the competition.


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ADMISSION REQUIREMENTSThe Advanced Certificate in Fund Administration is designed for individuals who have: • A sound educational background, or some

exposure to the financial services industry • The ability to complete the reading and written

aspects of the course in English

HOW TO APPLYTo enrol on the Advanced Certificate in Fund Administration, you will need to complete the course enrolment form (available on the website) and return it by fax, email or post to the address below. If you require any further information, please contact CLT International at

[email protected]

CLT International Wrens Court 52-54 Victoria Road Sutton Coldfield West Midlands B72 1SX United Kingdom

Tel: +44 (0)121 355 0900 Fax: +44 (0)121 355 5517

www.clt-fundadministration.com

PART I: THE INvESTMENT ENvIRONMENTIntRoDuCtIon: tHe evolutIon oF InveStment • An introduction to the development and

growth of investment and investment vehicles • The reasons for outsourcing investment • The basic roles and responsibilities of

investment managers • The classification of funds as onshore or

offshore • The major fund locations

unIt 1: InveStment oBJeCtIveS • The main reasons for investment and the

expectations of investors • Different investment styles, risks and rewards • How funds pay for the services of the

investment manager(s)

unIt 2: ASSet ClASSeS • The major asset classes and the

characteristics of products in the asset classes • Asset allocation in portfolios

unIt 3: InveStment mAnAgement • How investment strategies are formulated

and implemented for different types of funds including:

– Bonds – Equity funds – Index trackers – Property funds – Private equity funds – Hedge funds

unIt 4: tHe RegulAtIon oF InveStment • The difference between onshore and offshore

regulatory environments • The purpose of regulation and its impact on

funds

unIt 5: RegulAteD AnD oFFSHoRe FunDS • The main investment vehicles offered in the

retail and restricted investor market

unIt 6: StRuCtuRe oF FunDS • Unit trusts • Investment companies • Partnerships • Open ended and closed funds

unIt 7: pRInCIpAl pARtICIpAntS In InveStment mAnAgement • The set up and launch of a fund:

– fund sponsors – jurisdictions and legal entities – offering documents

• The management of investment: – board of directors – general partners – depositary – trustees – investment advisers – analysts and research – compliance and risk

• The role of prime brokers: – relationship with the fund, investment manager and fund administrator

• Intermediaries, IFAs, sales and marketing: – relationship to the fund – regulatory issues

• The role of the custodian and administrator: – Relationship to the fund, investment manager and investors

ContInueD oveR >

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PART 2: fUND ADMINISTRATION AND SUPPORTIntRoDuCtIon: tHe gRoWtH AnD Development oF FunD ADmInIStRAtIon SeRvICeS • How fund administration services have

developed to meet the changing demands of funds

• Why funds can choose to outsource all or just part of their support functions and tasks

unIt 8: FunD opeRAtIonS • Portfolio transaction processing • Verification, matching and settlement • Reconciliations • Record keeping and reports

unIt 9: FunD ACCountIng AnD CASH mAnAgement • Fund accounts • Valuations and pricing • Accruals • Distributions • Tax • Cash flows and forecasting • Information distribution and reports

unIt 10: tRAnSFeR AgenCy • Subscriptions and redemptions • The fund register and investor records • Investor liaison • Know-your-client procedures and anti money

laundering

unIt 11: FunD AnD FunD ADmInIStRAtIon ComplIAnCe • External compliance with regulation and legal

requirements • Internal compliance with policies, controls and

risk management procedures

unIt 12: opeRAtIonAl RISk • The identification and management of

operational risks

unIt 13: SeCRetARIAl ISSueS • AGM and investor meetings • Information compilation and distribution • Notices

unIt 14: RepoRtS AnD DISCloSuReS • Mandatory reporting • Required disclosures

unIt 15: AgReementS • The purpose of RFPs • The purpose and structure of service level

agreements

unIt 16: pRoBlem AReAS • Analysing the workflow • Challenges, problems and issues in service

delivery

unIt 17: tHe FutuRe oF FunD ADmInIStRAtIon • The response to the changing investment and

regulatory environment

fUND ADMINISTRATION: ADvANCED CERTIfICATE IN fUND ADMINISTRATION/CONTINUED


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fUND ADMINISTRATION: DIPLOMA IN fUND ADMINISTRATION

A practical qualification for fund administrators awarded in association with The University of Manchester Business School.

OvERvIEWSuitable for those who have completed the Advanced Certificate in Fund Administration, the Diploma provides a detailed insight into the administration of hedge funds, retail funds, private equity and property funds. The Diploma is a benchmark professional qualification demonstrating excellence.

Aimed at those who already have some knowledge and practical experience in the industry, the Diploma is suitable for fund practitioners who want to become experts in their field and gain a high-level understanding of fund administration.

BENEfITSThis course will: • Arm you with an advanced level, certificated,

practical qualification, which is underpinned by sound academic content

• Enhance your ability to deliver a high-quality, consistent and holistic fund administration service

• Broaden your understanding of different types of funds and their administration

• Enhance your professional reputation as well as that of your firm

• Improve your workplace performance and increase your potential for career progression

kEY fEATURES • An advanced level, certificated programme

resulting in a practical qualification • Comprehensive, bespoke course materials

written by experienced industry practitioners • Extensive support and resource material

including online webinars • A variety of study options • Opportunity to specialise in hedge funds, retail

funds or private equity and property funds • Awarded in association with The University of

Manchester Business School • Allows use of the designation Dip (Fund Admin)

EXEMPTIONSDelegates wishing to apply for exemption from the Advanced Certificate in Fund Administration must: • Be able to demonstrate significant and relevant

work experience (at least 3 years) • Have broadly covered the content of the

programme at the same level in a previous course or qualification

STUDY OPTIONSThe Diploma will take six months to complete. There are three different study options:

WoRkSHop optIonWorkshops are set approximately halfway through the programme and provide an opportunity for participants to work through and enhance their understanding of the course material with an industry expert. Each day of the four-day workshop will focus on a different pathway (hedge funds, retail funds or private equity and property funds) and the final day will cover accounting and NAV. Delegates are strongly recommended to attend all four workshop days. Workshops are run subject to sufficient enrolments.

DIStAnCe leARnIngThe Diploma is also available in a distance learning format. Additional materials are included in the learning pack to ensure that delegates gain a thorough education.

In-HouSe CouRSeSThe Diploma may be delivered in-house as a bespoke programme, tailored to the specific needs of your firm.

In order to pass the Diploma, delegates must submit one assignment (2,500–3,500 words) and successfully complete a three hour open-book examination on their chosen pathway. Those who pass the assignment and examination will be awarded the Diploma in Fund Administration and will be able to use the designation Dip (Fund Admin).

COURSE DETAILS DURATION: 6 months

LEVEL: Advanced

PREREQUISITES: Delegates can only register for the Diploma once they have completed the Advanced Certificate

COST: £1500 if booked separately from the Advanced Certificate £2800 Advanced Certificate and Diploma package

DATES: There is a four-day workshop for the Diploma. Each day of the workshop is devoted to a different pathway (hedge funds, retail funds, and private equity and property funds) and the final day will cover accounting and NAV.

Dates to be advised

ContInueD oveR >

INTRODUCTIONWith the funds industry going from strength to strength and recovering from the financial downturn, there has never been a more critical time for fund administrators to arm themselves with the academic and practical knowledge required to provide an industry-leading service.

As the demand for attention to detail and timeliness in fund administration increases, administrators will need to be equipped to meet the ever-increasing industry and regulatory demands. The Diploma in Fund Administration will enable you to demonstrate, through a certificated qualification, that you have the knowledge and skills necessary to provide an excellent fund administration service and one which differentiates you from the competition.

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fUND ADMINISTRATION: DIPLOMA IN fUND ADMINISTRATION /CONTINUED

ADMISSION REQUIREMENTSThe Diploma in Fund Administration is designed for individuals who have: • A sound educational background • Relevant work experience in the financial

services industry • Completed the Advanced Certificate in Fund

Administration, or obtained a qualification that is equivalent in level and content to the Advanced Certificate

HOW TO APPLYTo enrol on the Diploma in Fund Administration, you will need to complete the course enrolment form (available on the website) and return it by fax, email or post to the address below. If you require any further information, please contact CLT International at

[email protected]

CLT International Wrens Court 52-54 Victoria Road Sutton Coldfield West Midlands B72 1SX United Kingdom

Tel: +44 (0)121 355 0900 Fax: +44 (0)121 355 5517

www.clt-fundadministration.com

HEDgE fUNDS PATHWAYunIt 1: tHe InveStment mAnAgeR • Introduces the basic features of investment

management and defines relevant nomenclature

• Identifies who the investment manager is likely to be and examines typical licensing requirements

• Illustrates how an investment manager of a collective investment fund is appointed

• Analyses the duties owed by the investment manager, in particular

– the fiduciary duty – the duty of care – contractual duties

unIt 2: tHe DISCRetIonARy InveStment mAnAgement AgReement • Discusses the format and typical content

of a discretionary investment management agreement between an investment fund vehicle and its investment manager

• Reviews the contractual duties and rights of the investment manager

• Navigates through the agreement and construes some of the typical provisions

unIt 3: pRIme BRokeRAge • Introduces the prime broker, prime brokerage

firms and the services they offer • Establishes how a prime broker is appointed • Analyses the role of the prime broker • Explores the relationship between a hedge

fund and its prime broker

unIt 4: tHe pRIme BRokeRAge AgReement AnD otHeR DoCumentAtIon • Explores the contractual relationship between

the hedge fund and the prime broker • Reviews the terms of a typical prime

brokerage agreement and other contractual documentation

unIt 5: tHe FunD ADmInIStRAtoR • Introduces the fund administrator • Reviews how a fund administrator is chosen

and by whom • Analyses the legal relationship between the

investment fund and its administrator • Explores a typical Fund Administration

Agreement and construes some of its critical terms

• Introduces fund accounting, reconciliations and the NAV calculation

unIt 6: InveStment StRAtegIeS • Reviews classifications of funds according to

investment strategy • Explains and illustrates the different types

of investment strategies adopted by fund managers

unIt 7: gRoup StRuCtuReS FoR FunDS AnD SIDe poCketS • Introduces some of the issues faced by

investment funds that invite subscriptions from investors located in different legal, regulatory, currency and tax regimes

• Reviews how such problems are solved by special group fund structures

• Describes typical group structures, namely – mirror structures – master-feeder funds – umbrella funds

• Outlines the prejudice caused to remaining investors by redemptions when a fund is suffering from liquidity problems

• Describes how side pockets can alleviate the ‘last man standing scenario’ and explain the effect they have upon administration

unIt 8: tHe eu SAvIngS tAx DIReCtIve • Explores the origins of the Savings Tax

Directive (STD) • Considers the impact of the STD • Analyses the jurisdictional application of the

STD • Analyses the interpretation of the STD • Reviews the consequences of the STD for the

funds industry

unIt 9: unDeRtAkIngS FoR ColleCtIve InveStmentS In tRAnSFeRABle SeCuRItIeS (uCItS 3) • An overview of the UCITS Directives -

regulation of funds sold across the EEA • Consideration of the UCITS rules • Compliance with UCITS • The management of UCITS funds • Administrative and accounting procedures in

relation to UCITS funds


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RETAIL fUNDS PATHWAYunIt 1: RegulAtIon oF RetAIl FunDS • Collective investment schemes and the

Undertakings for Collective Investment in Transferable Securities (UCITS) Directives

– overview – rules – compliance – management – administration and accounting procedures

• Markets in Financial Instruments Directive (MIFID)

• Investor protection – client asset rules – marketing

• EU Savings Tax Directives and other directives – the origins of the Savings Tax Directive (STD)

– the impact of the STD – the jurisdictional application of the STD – the interpretation of the STD – the consequences of the STD for the funds industry

unIt 2: InveStment CompAnIeS • Types of investment companies including

open-ended funds, closed funds, mutual funds, SICAVs and multi-share class funds

• Investment objectives • The structure of funds • The requirements for the setting-up and

launching of funds in different jurisdictions and the content of the prospectus and key features documents

• The role of the investment manager including sales and marketing, portfolio construction, fund valuations and investment life cycle

• Fund operations including outsource arrangements, the appointment and role of custodians and secretarial and investor relations (transfer agency)

• The valuation of funds: pricing policies, valuing illiquid or complex products, NAV calculation and publication, accruals, income share calculation and distributions

• Performance measurement • Fees payable by the fund and by the manager

and the payment of taxes • Accounts including accounting standards,

content and the timetable for producing accounts

• The frequency and content of reports to investment managers, investors, directors and regulators

• Regulation, compliance and risk management

unIt 3: AutHoRISeD unIt tRuStS • Types of unit trust • Investment objectives • The structure of unit trusts

– fund management companies – investment management – role of trustee – passive and actively managed funds – umbrella funds – fund of funds – protected cell companies – open-ended – closed – dual and single-priced

• The set up and launch of unit trusts including the requirements for establishing unit trusts in different jurisdictions, scheme particulars and the creation and cancellation of units

• The role of the investment manager including sales and marketing, portfolio construction, fund valuations and investment life cycle

• Fund operations including outsource arrangements, the appointment and role of custodians and secretarial and investor relations (transfer agency)

• Valuation of funds: pricing policies, valuing illiquid or complex products, NAV calculation and publication, accruals, income share calculation and distributions

• Performance measurement • Fees payable by the fund and by the manager

and the payment of taxes • Accounts including accounting standards,

content and the timetable for producing accounts

• The frequency and content of reports to investment managers, investors, directors and regulators

• Regulation, compliance and risk management

PRIvATE EQUITY & PROPERTY fUNDS PATHWAYunIt 1: pRIvAte eQuIty FunDS • Investment in private equity compared with

public equity • Start-up and venture capital funds • Buy-out funds

– leveraged buy-outs – management buy-outs

• Structure of private equity funds – limited liability companies – limited liability partnerships – general partners – limited partners – shareholders

• Set-up and launch – examples of requirements for establishing funds in different jurisdictions

– typical requirements and content of offering memorandum

• The role of investment advisers – investment life cycle

• Limited partners and committed capital • Valuation of funds

– pricing policies – valuing illiquid or complex products

unIt 2: pRopeRty FunDS • Property as an investment • Types of property funds • Structures, set up and launch

– fund durations – exit restrictions

• Asset classes and investment strategies – commercial property – retail property – REITs – property/land company shares

• Portfolio management • Property derivatives • Investors and investor services • Valuation of funds

– asset valuation frequency and content – rental income – property costs – fund valuation frequency and content

• Performance measurement • Fees and costs • Accounting • Reporting and disclosures • Compliance and risk management

ContInueD oveR >

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fUND ADMINISTRATION: DIPLOMA IN fUND ADMINISTRATION /CONTINUED

unIt 3: RoleS oF key plAyeRS • Board of directors, trustees and general

partners • Investment advisers, prime brokers and

managers • Intermediaries and distributors • Administrators and custodians • Compliance and risk managers

unIt 4: tHe eu SAvIng tAx DIReCtIveS AnD otHeR DIReCtIveS • Explores the origins of the Savings Tax

Directive (STD) • Considers the impact of the STD • Analyses the jurisdictional application of the

STD • Analyses the interpretation of the STD • Reviews the consequences of the STD for the

funds industry

unIt 5: unDeRtAkIngS FoR ColleCtIve InveStmentS In tRAnSFeRABle SeCuRItIeS • An overview of the UCITS Directives –

regulation of funds sold across the EEA • Consideration of the ICITS rules • Compliance with UCITS • Management of UCITS funds • Administration and accounting procedures in

relation to UCITS funds

ACCOUNTINg AND NAv (COMPULSORY fOR ALL DELEgATES)unIt 1: BookkeepIng AnD ACCountIng • Considers what information the fund

administrator is required to record • Explains the fundamental accounting equation • Explains double-entry bookkeeping • Illustrates the importance of the general ledger • Explains the importance of accounting

concepts and conventions • Illustrates the accounting treatment of different

types of securities

unIt 2: net ASSet vAlue (nAv) CAlCulAtIon • Shows the importance of correctly calculating

a fund’s asset value • Considers the role played by the administrator

and third-party service providers • Reviews the stages in the NAV calculation

process • Highlights the importance of the

administrator’s independence • Describes the different ways of pricing an

investment portfolio • Reviews reconciliations and control

procedures • Explains the type and nature of fund expenses • Describes how the payment of performance

fees can become inequitable and the mechanisms used to correct the problem

• Reviews corporate actions and their effect on the NAV calculation


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fUNDAMENTALS Of fUND ADMINISTRATION

OvERvIEWThis is an essential course for fund professionals wanting to remain at the cutting-edge of the profession. Delegates wishing to gain an initial and introductory overview of fund administration would also benefit from the course.

COURSE CONTENTDAy one: unDeRStAnDIng InveStment FunDS • Offshore versus domestic funds • Background, structures and types of funds • Overview of the legal structures of funds • Market nuances in the different countries and their implications on fund

administration

RoleS AnD ReSponSIBIlItIeS • Defining the responsibilities of each player involved in the overall

administration of the fund • Managing your relationship with:

– investment managers – brokers – custodians – fund sponsors – trustees – investors

• What actions are required in dealing with: – AGM decisions – mergers/takeovers – corporate actions

vAluAtIon AnD pRICIng oF InveStment FunDS • Bookkeeping for all portfolio transactions • When should a position be included in the valuation? • Is it necessary to receive a broker confirmation prior to recording a

transaction? • Latest techniques to ensure ‘best execution’ • Market conformity checks

BRokeR AgReementS • Process to allocate transaction volume to different brokers based on

settlement quality, research, etc. • Handling of fund-to-fund transactions or cross trades • Posting of G/L entries • Calculation of all management fees, performance fees and any related

expenses • Calculation of accrued income • Computation of the value of the fund’s assets • Identifying appropriate pricing sources • When and which prices should be used for international funds with

holdings in different time zones • FX rates for conversion of FX amounts • What procedures should be used for the valuation of illiquid instruments? • Daily calculation of the net asset value

DAy tWo: RegIStRAR AnD tRAnSFeR AgenCy SeRvICeS • Maintenance of the shareholders’ register for the fund • Issuing certificates • Amendments to investor details • Arrangements on the death of shareholder • Powers of attorney • Global transfer agency function

ClIent SeRvICeS In An InteRnAtIonAl Context • Documentation and regulation • Master agreements for OTC derivatives and repo transactions • Trusteeship • Scheme particulars • Key feature documents • Efficient portfolio management • Customer protection • Reporting to clients • Preparation of financial statements • Customised reporting and information • Multi-currency and multi-instruments reporting • Tax reporting


SUITABLE FOR: This course is suitable for people new to funds and investment, staff dealing with fund administration and custody services with up to a year’s experience, auditors, compliance staff, technology service providers and junior legal staff.

COST: £595

DATES: Spring/Summer – 11 & 12 April 2012 Autumn/Winter – 30 & 31 October 2012

12HOURSCPD

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COMPLIANCE IN fUND ADMINISTRATION

OvERvIEWBeing able to demonstrate and maintain professional management of a fund’s operation and operational risks is crucially important in giving investors comfort and confidence. This course addresses the practicality of having an effective compliance process and how this can be achieved.

COURSE CONTENT • Legal compliance • How the compliance function differs from the risk management function • Monitoring of investment policy compliance • Adhering to regulatory and client investment restrictions • Compliance with tax and regulatory rules • Compliance watchpoints • Money laundering • Operational risk dimensions in different fund types (property, private

equity, hedge funds, unit trusts, etc.)

WoRkSHop SeSSIon • Establishing an effective compliance and risk management process

in funds

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Be able to identify how effective compliance can be achieved • Be able to identify what constitutes effective compliance • Understand the critical importance of effective compliance going forward


SUITABLE FOR: This course is suitable for governing bodies such as managers, partners and trustees with responsibility for in-house and outsourced arrangements, fund administrators, external trustees, custodians, auditors and compliance and risk management professionals.

COST: £295

DATES: Spring/Summer – 12 March 2012 Autumn/Winter – 23 October 2012

6HOURSCPD

Excellent content and delivery that has helped

my understanding of exactly how important the topic is


JIBS. Providing competitive up-skilling solutions for a global market.

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TAXATIONCERTIfICATED AWARENESS PROgRAMMES

Uk TAX PROgRAMME 100

OffSHORE TAX PROgRAMME 101

SHORT COURSES

INTRODUCTION TO Uk TAX 102

INTERNATIONAL TAXATION 102



Uk TAX PROgRAMME

OvERvIEWThis course is designed to deliver a comprehensive level of knowledge of UK taxation and also looks at basic offshore issues. Split into seminars, delegates can attend all or part of the programme.


PREREQUISITES: None

SUITABLE FOR: All finance sector employees.

COST: £545 full programme £115 per seminar

DATES: Seminar 1: UK Income Tax Unit 1 (Introductory) 15 March 2012 Seminar 2: UK Income Tax Unit 2 5 April 2012 Seminar 3: UK Capital Gains Tax Unit 1 (Introductory) 10 May 2012 Seminar 4: UK Capital Gains Tax Unit 2 1 June 2012 Seminar 5: UK Inheritance Tax Unit 1 (Introductory) 2 July 2012 Seminar 6: UK Inheritance Tax Unit 2 2 August 2012

PROgRAMME CONTENTSemInAR 1: uk InCome tAx unIt 1 (IntRoDuCtoRy)The function and purpose of taxation in a modern economy, tax avoidance versus tax evasion, the principles of income tax, taxable income, allowable expenses, income tax calculation case studies, residence and domicile and the implications

SemInAR 2: uk InCome tAx unIt 2Domicile, residence and the implications, income tax computations, property and investment income, losses, payments on termination of employment and other lump sums received, returns and payment due dates, investments made to save tax, overseas aspects of tax, UK property

SemInAR 3: uk CApItAl gAInS tAx unIt 1 (IntRoDuCtoRy)The basic principles of computing gains and losses, a reminder of resident and domicile implications for CGT, transfers between spouses, part disposals, assets lost and destroyed and the effects of reliefs on the calculation of CGT

SemInAR 4: uk CApItAl gAInS tAx unIt 2A revision of CGT fundamentals, gains and losses on the disposal of moveable property, gains and losses on the disposal of shares and securities, year end computations, more details on exemptions and reliefs available for deferring CGT, CGT planning and minimisation

SemInAR 5: uk InHeRItAnCe tAx unIt 1 (IntRoDuCtoRy) The basic principles of inheritance tax, persons chargeable, transfers of value, chargeable transfers, potentially exempt transfers, exempt transfers, tax payable during lifetime, tax payable on death, the death estate, overseas aspects, trusts

SemInAR 6: uk InHeRItAnCe tAx unIt 2Revision of the basic principles of IHT including lifetime transfers and the death estate. Additional aspects of IHT including taper relief, valuation rules, related property, reliefs against asset valuation, returns and payment due dates, quick succession relief, BPR/APR, gifts with reservation of benefit, trusts and IHT

LEARNINg OUTCOMESBy tHe enD oF tHe CouRSe pARtICIpAntS WIll Be ABle to: • Describe the fundamental rules of UK income

tax, capital gains tax and inheritance tax • Understand residence and domicile together

with the implications • Understand the basics of offshore trusts that

are affected by the UK anti-avoidance rules

12HOURSCPD


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PROgRAMME CONTENTSemInAR 1: oFFSHoRe InCome tAx unIt 1 (IntRoDuCtoRy) Residence of individuals, residence of trustees, types of trust, implications of residence and domicile for individuals and trustees, meaning of remittance basis pre and post FA 2008, capital versus income – why does it matter?, mixed funds

SemInAR 2: oFFSHoRe InCome tAx unIt 2Accrued income scheme, revision of income tax for discretionary/IIP Trusts, non-settlor interested trusts-domiciled/non domiciled & pre/post FA 2008, loans from non-resident companies, tax treatment of distributions from offshore trusts to UK residents, UK protectors and offshore trusts, transfer pricing rules, the taxation of pre-owned assets

SemInAR 3: oFFSHoRe CApItAl gAInS tAx unIt 1 (IntRoDuCtoRy) Transfers into an offshore trust, calculation of CGT on trust assets (a series of case studies), situs of assets for CGT

SemInAR 4: oFFSHoRe CApItAl gAInS tAx unIt 2Gains of non-resident trusts: s86, gains of non-resident trusts: s87, gains of non-resident companies: s13, capital losses, tax treatment of trust capital payments/benefits to UK resident but non-domiciled beneficiaries, forms 50(FS)

SemInAR 5: oFFSHoRe InHeRItAnCe tAx unIt 1 (IntRoDuCtoRy) Transfers into an offshore trust, how can the use of offshore structures help mitigate UK IHT?, deemed domicile, excluded property, situs of assets for IHT

SemInAR 6: oFFSHoRe InHeRItAnCe tAx unIt 2Exit charges and 10 year charges, mitigation of these charges, reservation of benefit, return and payment dates

LEARNINg OUTCOMESBy tHe enD oF tHe CouRSe pARtICIpAntS WIll Be ABle to: • Describe the up-to-date rules of the three main

UK taxes • Understand the relevance of these rules in the

offshore jurisdictions

OffSHORE TAX PROgRAMME

OvERvIEWThis course is designed for both newly-appointed trainees in the finance industry and those with a higher level of knowledge and experience.


PREREQUISITES: None

SUITABLE FOR: Delegates with a basic knowledge of the principles of taxation who are looking to gain a deeper understanding of offshore tax implications.

COST: £625 full programme (£125 per seminar if booked separately)

DATES: Seminar 1: Offshore Income Tax Unit 1 (Introductory) 6 March 2012 Seminar 2: Offshore Income Tax Unit 2 3 April 2012 Seminar 3: Offshore Capital Gains Tax Unit 1 (Introductory) 8 May 2012 Seminar 4: Offshore Capital Gains Tax Unit 2 12 June 2012 Seminar 5: Offshore Inheritance Tax Unit 1 (Introductory) 4 July 2012 Seminar 6: Offshore Inheritance Tax Unit 2 7 August 2012

12HOURSCPD

101



INTRODUCTION TO Uk TAX INTERNATIONAL TAXATION

OvERvIEWThis course is designed for newly appointed trainees into the finance industry but would also be useful as an introductory tax course for non-finance professionals.

COURSE CONTENT • Residence and domicile • An introduction to the basics of income tax, capital gains tax and

inheritance tax

LEARNINg OUTCOMESon CompletIon oF tHe CouRSe you WIll HAve: • An understanding of the basics of UK tax rules

OvERvIEWEnhanced sensitivity around tax evasion has emphasised the need for offshore finance professionals to carefully diligence the legitimacy of the tax rationale for the existence of many client relationships. This course examines the general principles of international taxation.

COURSE CONTENTDomICIle AnD ReSIDenCy • Relevance of domicile and residency • Types of domicile and residency

oFFSHoRe FunDS • Accessing overseas funds • Alienation rules • Arising and remittance basis

tRuStS • Types of trust • Trust residency • Tax planning

CApItAl gAInS tAx (Cgt) AnD InHeRItAnCe tAx (IHt) • Domicile and residency • Avoidance of CGT and IHT • Relevance of source and location

mISCellAneouS • Double taxation agreements • European Savings Directive

LEARNINg OUTCOMESBy tHe enD oF tHe CouRSe pARtICIpAntS WIll Be ABle to: • Understand the relevance of domicile and residency • Appreciate how to effectively access overseas funds • Have an increased awareness of tax and overseas issues


SUITABLE FOR: All finance industry employees

COST: £155



SUITABLE FOR: Financial advisers, private wealth managers, solicitors, and accountants.

COST: £295

DATES: Spring/Summer – 7 June 2012 Autumn/Winter – 15 November 2012

3HOURSCPD

6HOURSCPD


Rainee has over 30 years’ experience working with leading law firms and now brings her experience to the Business School under the CMI programme.

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TRUST AND COMPANY MANAgEMENTDEgREE PROgRAMMES BSc (Hons) MANAgEMENT WITH TRUSTS AND ESTATES 106

PROfESSIONAL QUALIfICATIONS STEP fOUNDATION CERTIfICATE AND DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT 108

STEP fOUNDATION CERTIfICATE IN INTERNATIONAL TRUST MANAgEMENT 112

STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUST CREATION: LAW AND PRACTICE 114

STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT COMPANY LAW AND PRACTICE 118

STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUST ADMINISTRATION AND ACCOUNTS 122

STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUSTEE INvESTMENT AND fINANCIAL APPRAISAL 126

SHORT COURSES INTRODUCTION TO TRUST LAW AND ADMINISTRATION 129

INTRODUCTION TO COMPANY LAW AND ADMINISTRATION 129

INTRODUCTION TO fOUNDATIONS 130

THE EffECTIvE COMPANY SECRETARY 130

ADvANCED TRUST LAW AND ADMINISTRATION 131

ADvANCED COMPANY LAW AND ADMINISTRATION 131

INTRODUCTION TO THE OffSHORE fINANCE INDUSTRY 132

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BSc (Hons) MANAgEMENT WITH TRUSTS AND ESTATES

OvERvIEWA new part-time honours degree course for professionals is now available from Manchester Business School in collaboration with the School of Law at The University of Manchester.

Working closely with Central Law Training, this course has been developed to enable you to build upon your existing qualifications and specialist knowledge, to demonstrate excellence in your area of expertise whilst developing your management knowledge skills. This well-balanced course combines technical knowledge with practical skills to enable you to fully realise your potential.

COURSE DETAILS DURATION: Part-time over 24 months

LEVEL: BSc honours degree

PREREQUISITES: • ASTEPDiplomainInternationalTrustManagementoraSTEPDiplomafor England and Wales (Trusts and Estates) • Threeyears’workexperienceinarelevantfield • AllstudentsareexpectedtohaveagoodlevelofwrittenandspokenEnglish

SUITABLE FOR: Lawyers, Trust Professionals, Wealth Planners, Financial Planners, Private Client Executives, Probate Managers, Tax Managers

COST: £6500

DATES: Course start date: April and September 2012 (subject to sufficient numbers) Closing date for April applications: 27th February 2012

kEY fEATURES • A flexible course normally lasting 24 months,

depending on preferences and commitments • Study is a combination of self study,

face-to-face workshops and e-learning • Workshops delivered at weekends (eight

weekends in total) • Internationally-acclaimed teaching staff • Cutting-edge technology used in the delivery

of content

kEY BENEfITS • Enhances knowledge of core management

transferable skills • Opportunity to build on previous qualifications

and specialist knowledge, resulting in a recognised qualification

• Potential for career progression • Broadened capabilities • Workshops provide the opportunity to network

with academics and fellow professionals

COURSE CONTENT • Accounting • Finance • People Management and Organisations • Management Information Systems • Strategic Management • Marketing • Tax and Estate Planning: International Financial

Planning Tools and Structures • Tax and Estate Planning: International Taxation

fURTHER INfORMATIONFurther information can be found at

go.mbs.ac.uk/manwte

Alternatively, please contact:

Sarah Mountford Programme Administrator +44 (0) 161 275 7263 [email protected]


“My lecturing approach is to demystify learning and this is the driver behind the training programmes we have formulated.”

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STEP fOUNDATION CERTIfICATE AND DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT

INTRODUCTIONThe Society of Trust and Estate Practitioners (STEP), in association with the International Trust Companies Association (ITCA) and CLT International (CLTI), launched the Foundation Certificate and Diploma in International Trust Management in 1999. The programme, which defines standards, levels of expertise and codes of professionalism in the international trust arena, has received acclaim as a highly relevant, well-presented course with first class study materials and facilities. The programme is awarded in association with The University of Manchester Business School.

SOCIETY Of TRUST AND ESTATE PRACTITIONERSSTEP is the leading representative and training body within the sphere of international trust management and wealth structuring. STEP provides members, and those affiliated to it, with a local, national and international learning and business network focusing on the responsible stewardship of assets both today and across the generations.

INTERNATIONAL TRUST COMPANIES ASSOCIATIONITCA was formed by major financial institutions within the international trusts arena to pool expertise on issues affecting the industry globally. It looks to maintain and enhance standards of professionalism in the form of best practice, to contribute to the education of trust practitioners and to use its collective voice to influence policy changes.

CLT INTERNATIONALCLT International is the exclusive provider of the STEP Foundation Certificate and Diploma in International Trust Management and regional STEP Certificate and Diploma programmes in England and Wales, Northern Ireland and Scotland. CLT International has a wealth of experience of providing high quality, certificated training programmes to trust professionals around the world.

UNIvERSITY Of MANCHESTER BUSINESS SCHOOLManchester Business School (MBS) is the largest campus-based business and management school in the UK. MBS delivers world class management education globally and is a leader in cutting edge business thinking. The STEP Foundation Certificate and Diploma are awarded in association with MBS and are subject to the school’s rigorous quality assurance procedures.

HOW IS THE PROgRAMME STRUCTURED?The programme is divided into two separate parts: a Foundation Certificate, which is available to all those wishing to obtain a background in, and general knowledge of, the practise of trusts in the international context; and a Diploma, which consists of four separate areas of study.

To complete the Diploma, passes in the following four advanced papers must be achieved: • Trust Creation: Law and Practice • Company Law and Practice • Trust Administration and Accounts • Trustee Investment and Financial Appraisal

WHAT ARE THE AIMS Of THE PROgRAMME?The overall aims of the programme are: • To provide professional standards of

administration and management in the international trust profession through professional qualifications

• To raise the profile of trust administration and management as a key function of the international trust profession

• To provide an international programme that will enable Diploma holders to acquire membership of a recognised professional body

• To develop a sound knowledge of all aspects of the international trust profession, including the vehicles and structures that underpin the profession

• To provide an overview of the law, practice and procedures needed by trust officers and administrators and to develop the analytical skills required

WHAT ARE THE BENEfITS Of TAkINg THE PROgRAMME? • You will gain an academic and professional

award recognised by the industry • On completion of the Diploma you can use the

designation Dip(ITM). In addition, if you have worked for two years in the industry, you are eligible to apply for full STEP membership and you can on admission use the professional designation TEP, indicating full professional status

• The programme is relevant to the tasks that you are undertaking in the workplace. It focuses on practical training issues

• The programme is international in content. It covers common international principles and practices, but relates them to your local jurisdiction and offers comparisons with other major jurisdictions

• The programme is in a flexible format. It is an integrated programme combining distance learning and face-to-face tuition

• The course materials are first class; they are student friendly, relevant and excellent training tools

• The face-to-face courses are delivered by international presenters who are all experienced practitioners, academics and professional trainers


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WHAT ARE THE ENTRY REQUIREMENTS?The Foundation Certificate is an open-entry programme. There are no formal educational entry requirements. However, applicants should have a good standard of basic literacy and be aware that all programmes and materials are in English. Admission to the Diploma programme is normally dependent on having achieved the Foundation Certificate. Exemptions from the Foundation Certificate are possible, subject to the criteria set out below.

ARE EXEMPTIONS POSSIBLE?Applicants who hold a degree or degree-level qualification may be entitled to exemption from the Foundation Certificate. Where the degree or similar qualification is not cognate and little or no experience of the profession has been gained, the individual concerned will be strongly advised to sit the Foundation Certificate. The academic team at CLTI will be happy to discuss individual positions on an informal basis if any assistance is needed in deciding whether or not the Foundation Certificate is an appropriate place to begin studies.

Applications for exemption from the Diploma papers will be considered in cases where there is a very close correlation between a previously obtained qualification and the Diploma paper from which exemption is sought, both in content and in level. STEP may take into consideration a significant amount of relevant post-qualification experience, when coupled with a relevant professional qualification.

There will be a maximum of two possible exemptions from the four Diploma papers.

There will be a greater onus on applicants to demonstrate similarity and relevance where the qualification was obtained more than three years prior to the application.

Each application will be considered on a case-by-case basis.

HOW LONg WILL THE PROgRAMME TAkE?This very much depends on you, the amount of study time you have available, your aptitude for the subject, the timing of examinations in your jurisdiction and so on.

The average student who spends six hours a week studying the programme should be able to successfully complete the programme in approximately two years.

It is recommended that you study and complete papers individually rather than studying a number of papers simultaneously. Diploma papers can be studied in any order. They are not sequential. Delegates can select courses according to availability of dates in any given jurisdiction.

HOW IS THE PROgRAMME TAUgHT?The programme is delivered through an integrated tuition system. This includes: • A distance learning course • A face-to-face course • Website facilities

WHAT CAN I EXPECT fROM MY DISTANCE LEARNINg COURSE?When you enrol you will receive a course pack that includes a delegate handbook, course manual (including main text, self-assessment questions and practical tasks), specimen examination papers and solutions and access to the website facilities.

This pack will enable you to commence your studies and provides you with a structured programme leading to the face-to-face course and examination.

At the commencement of each Foundation Certificate course an induction day will be held for the delegates in their jurisdiction. The induction day will focus on: • An outline of the course, materials and

examinations • An introduction to trusts law • Examination guidance and technique

At the end of the distance learning programme you will attend a four day face-to-face course which culminates in the final examination on day five.

Foundation Certificate 4 – 6 months

Diploma Trust Creation: Law and Practice 4 months

Company Law and Practice 4 months

Trust Administration and Accounts 4 months

Trustee Investment and Financial Appraisal 4 months

ContInueD oveR >

109



STEP fOUNDATION CERTIfICATE AND DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT /CONTINUED

HOW WILL I BE EXAMINED?FounDAtIon CeRtIFICAteThe Foundation Certificate is awarded on passing a three-hour closed book examination that comprises multiple choice and essay/problem questions.

DIplomAYou must successfully complete a three hour closed book examination in each of the four papers that comprise the Diploma.

The format of these examination papers is a combination of multiple-choice and essay/problem questions.

Examinations will normally take place to coincide with the final day of the face-to-face course at each venue (see list of venues and examination dates at www.clt-stepint.com).

WHAT IS THE STANDARD Of THE EXAMINATIONS?The Foundation Certificate is introductory in nature and is designed to provide a detailed insight into trusts and their administration.

The Diploma is set at degree/professional level.

WHAT QUALIfICATIONS WILL I RECEIvE AT THE END Of THE PROgRAMME?On successful completion of the Foundation Certificate examination, you will be awarded the Foundation Certificate in International Trust Management.

If you progress on to the Diploma and successfully complete one or more of the advanced papers, you will be awarded the appropriate Advanced Certificate for that paper. They are: • Advanced Certificate in Trust Creation: Law

and Practice • Advanced Certificate in Company Law and

Practice • Advanced Certificate in Trust Administration

and Accounts • Advanced Certificate in Trustee Investment

and Financial Appraisal

On successful completion of all four advanced papers, you will be awarded the Diploma in International Trust Management and can use the designation Dip(ITM).

HOW DO I ACQUIRE STEP MEMBERSHIP?

When you enrol on the Foundation Certificate or Diploma course you will be eligible for membership of STEP. Once your membership application has been accepted, you will be granted student membership. All STEP student membership fees are covered by your course fee during your studies.

Full STEP membership will be granted to you when you complete the Diploma and show that you have two years’ relevant experience.

Associate membership will be granted to you if you have completed the Diploma, but not acquired sufficient experience. Full membership will be granted to associate members when sufficient experience has been gained.

Students who complete the Foundation Certificate and wish to end their studies there can apply to become an affiliate of STEP. Affiliates receive all the benefits associated with STEP membership, but are not full members (and cannot use the designation TEP), vote at general or branch meetings or stand for election to Council.

COURSE STRUCTURE

Delegate Registration

Foundation certificate

Completion of all four papers leads to the award of the Diploma

Trust Creation:Law and Practice

CompanyLaw and Practice

TrustAdministration

andAccounts

TrusteeInvestment

and FinancialAppraisal

Full membership of STEP

Student membership of STEP

Study the Diploma for a route to full STEP membership or become an affiliate of STEP on completion of the Foundation Certificate


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COURSE TIMETABLE

Each phase, shown in the table, indicates a new sequence of courses starting with a Foundation Certificate course and linked to a series of Diploma courses (please note that course dates that have passed at the time of publication are not shown on the tables).

New course phases are commenced at nine month intervals.

For further details of individual course teaching and exam dates, please see individual course syllabuses.

HOW MUCH WILL THE PROgRAMME COST?Please refer to the course enrolment form for current fees.

WHEN SHOULD I APPLY?You may enrol on the distance learning course at any time throughout the year and work at your own pace through the materials, provided that you register prior to the course closing date for each paper. The Foundation Certificate is normally about six months’ duration, whereas each Diploma paper will take approximately four months to complete. The face-to-face courses and examinations will be held at a number of venues throughout the world at various times of the year. You may attend the course at any centre throughout the world.

HOW DO I APPLY?Download an application form from the CLT Int website at www.clt-stepint.com and post or fax it to CLTI at the address details given below.

Details of distance learning courses, face-to-face tuition and examinations can be obtained from:

CLT International/STEP Registrar CLT International Ltd Wrens Court, 52-54 Victoria Road Sutton Coldfield, Birmingham B72 1SX UNITED KINGDOM

Tel: +44 (0)121 355 0900 Fax: +44 (0)121 362 7510 Email: [email protected] Website: www.clt-stepint.com

Details of STEP membership can be obtained from:

Membership Department STEP Worldwide Artillery House (South) 11–19 Artillery Row London SW1P 1RT UNITED KINGDOM

Tel: +44 (0)20 7340 0500 Fax: +44 (0)20 7340 0501 Email: [email protected] Website: www.step.org Diploma courses 1–4 are non-sequential and may be studied in any order.

For further details of individual course teaching and exam dates, please see individual course syllabuses.

COURSE COURSE CLOSING DATE

FACE-TO-FACE TUTORIALS (MONDAY TO THURSDAY)

EXAMINATION (FRIDAY)

Foundation Certificate 25 November 2011 21-24 May 2012 25 May 2012

STEP Diploma 1 Trust Creation: Law and Practice

27 July 2012

9-12 January 2012 26-29 November 2012

13 January 2012 30 November 2012

STEP Diploma 2 Company Law and Practice

16 March 2012 18-21 June 2012 22 June 2012

STEP Diploma 3 Trust Administration and Accounts

16 December 2011 24 August 2012

16-19 April 2012 3-6 December 2012

20 April 2012 7 December 2012

STEP Diploma 4 Trustee Investment and Financial Appraisal

22 June 2012

9-12 January 2012 24-27 September 2012

13 January 2012 28 September 2012

111



www.clt-stepint.com

mailto:[email protected]

www.clt-stepint.com

mailto:step%40step.org?subject=

www.step.org

STEP fOUNDATION CERTIfICATE IN INTERNATIONAL TRUST MANAgEMENT


LEVEL: Introductory

COST: £1,525

DATES: Course enrolment closes: 25 November 2011 Induction day: 22 November 2011 Face-to-face course: 21–24 May 2012 Examination: 25 May 2012

moDule 1: IntRoDuCtIon to tHe oFFSHoRe FInAnCIAl InDuStRyThis module covers: • Definitions of terms • Global overview of offshore financial centres • Reasons for going offshore • Factors that may influence the choice of

jurisdiction • Introduction to financial services offered

offshore

By the end of this module, you should • Have a broad overview of the main features of

the offshore financial industry • Be able to describe some of the services

provided offshore • Be able to use this general knowledge as a

foundation upon which to build a more detailed understanding of financial services provided offshore

moDule 2: evolutIon oF eQuIty AnD tHe lAW oF tRuStSThis module covers: • How common law and equitable principles

developed • Common law and civil law (continental)

jurisdictions and the distinction between how the two systems of law developed

• The relationship of the parties to a trust • The general principles applicable to the

exercise of a trustee’s decision-making powers • How trustees should comply with their

fiduciary obligations and meet appropriate standards of care

By the end of this module, you should • Understand the relationship between common

law and equity, and be able to distinguish between legal and equitable rights

• Appreciate how the trust concept has been allowed to develop

• Be able to distinguish between common law (trust) and civil law (non-trust) jurisdictions

• Be able to define the relationship between the parties to a trust

• Be able to explain what is meant by a fiduciary relationship

• Know how to comply with a trustee’s fiduciary duties

moDule 3: tHe FunDAmentAlS oF A vAlID tRuStThis module covers: • A consideration of what is required to create a

valid trust – ‘the three certainties’ • An explanation as to how a trust must be

properly constituted and a description of the formal requirements to transfer the property into a trust

• An introduction as to how trusts are liable to be set aside if created as a sham

• The settlor’s personal and proprietary capacity to create a trust

• The common law rules against perpetuities and how the common law rules have been modified by statutory offshore provision

By the end of this module, you should • Know how to create a valid trust by applying

the three certainties • Understand how to transfer trust assets to

trustees properly • Know how to ensure that the trust is

established with essential certainty and that it is not liable to be set aside as a formal sham

• Be able to ensure that the settlor has capacity to create the trust under its governing law

• Be familiar with the general concept of perpetuities

moDule 4: typeS oF tRuStThis module covers: • An examination of the basic anatomy of a

typical trust instrument – a detailed review of certain types of express trusts

– life interest trusts – contingent gifts – discretionary trusts – protective trusts

• The effect of a letter of wishes • The role of the protector

By the end of this module, you should • Be able to navigate your way around a

standard trust instrument • Understand, and be able to explain to a

third party, the features of fixed interest trusts such as:

– a life interest trust – a contingent interest trust – discretionary trusts – protective trusts

moDule 5: moDeRn uSeS oF oFFSHoRe tRuStSThis module covers an exploration of the main advantages of offshore trusts, namely in the fields of • Tax planning • Risk management and asset protection • Estate planning

By the end of this module, you should • Understand how tax is levied on individuals

and companies that are domiciled or deemed resident for tax purposes in an onshore jurisdiction

SYLLABUS


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• Be able to explain how income and capital taxes are levied upon trusts, and how tax advantages accrue to trusts whose trustees reside and carry business offshore

• Appreciate how, and in what circumstances, a trust structure can offer protection to assets against

– claims made by creditors of a beneficiary – claims made by creditors of the settlor

• Understand how an inter vivos trust can be used to plan who gets what upon an individual’s death

• Appreciate that certain countries and states impose ‘forced heirship rules’, and you should start to understand how this could affect a trust created by a person resident in such a state

moDule 6: BASIC tRuSt ADmInIStRAtIonThis module covers: • The information that a service provider should

request from a prospective trust client • A description of the files that trust companies

usually maintain • The need for a trust to be administered with

integrity to avoid it being set aside as an administrative (or substantive) sham

• A review of the decision-making process of trustees, in particular the exercise of their

– powers of investment – dispositive powers

• How trustees of a discretionary trust should make and record their decisions

By the end of the module, you should • Know how to comply with ‘know your client’

due diligence obligations – upon accepting new trust business – upon taking on existing business – throughout the business relationship

• Appreciate the need for, and be able to create and maintain, trust files to record and retain information in a logical, clear and efficient manner

• Understand how a trust may become at risk of being set aside as a sham and be able to avoid that situation occurring

• Be able to act properly, and comply with, a trustee’s fiduciary duties in the light of a letter of wishes generally and when such letter

– is inconsistent with the trust instrument – and/or is unreasonable

• Be able to act properly, and comply with, a trustee’s fiduciary duties in the light of the trust instrument appointing a protector, both generally and when the protector withholds their consent to a proposed course of action

• Know what is expected of a trustee when exercising their powers and what is involved in the decision-making process, particularly in relation

– to investment decisions and reviews – to distributions of trust income and/or capital

moDule 7: tHe Role AnD StAtuS oF tHe oFFSHoRe ASSet HolDIng CompAnyThis module covers: • An introduction to the concept of the privately

owned limited liability company • An exploration of the features of a private

limited company • How incorporation of a company in an offshore

jurisdiction may carry certain advantages to a private client

• The formation, constitution and dissolution of a company

By the end of this module, you should • Understand the features of a limited liability

company and be able to put the limited company in context by comparing it with other business media

• Appreciate how and why ownership of a company is distinct from its control

• Be able to describe the advantages of offshore incorporation and management in terms of

– tax avoidance – confidentiality – regulation – asset protection

• Know how to incorporate a company • Be able to advise upon funding or capitalising

a company • Be able to find your way around the

constitution of a company and know how to determine any particular point concerning internal procedures

• Know how and in what circumstances a company may be dissolved

moDule 8: CompAny SHAReHolDeRS, DIReCtoRS AnD otHeR oFFICeRSThis module covers: • How the theories and principles that have

governed the development of traditional company structures onshore have been exported to offshore financial centres, and there modified

• The separation of power between shareholders and directors

• A working knowledge of – the rights and powers of shareholders – the powers and duties of directors

• Some of the administration issues that may confront an offshore corporate administrator in practice

By the end of the module, you should • Understand how and why basic company law

principles developed in the onshore developed economies, particularly

– the separation of power between shareholder and director

– the capital maintenance doctrine • Appreciate the features and rights of

shareholders, including – how they join the company – different types of shareholdings

– the broad rights of shareholders – how they exercise their voting rights

• Appreciate the rights and duties of directors, including

– how they are appointed, and how they may be removed of their powers

– their duties to the company

moDule 9: oFFSHoRe CoRpoRAte SeRvICeSThis module covers: • A review of some of the services offered

by corporate service providers in offshore financial centres

• An explanation of some of the features of company management and practical issues faced by corporate service providers in the offshore environment

• The risks involved in providing directors for offshore companies, and some suggested solutions

• Company management agreements

By the end of this module, you should • Be able to give an overview of the corporate

services offered in offshore financial centres, including

– incorporation and registration – provision of registered office and registered agent

– maintenance of corporate records and provision of company secretary

– provision of nominee shareholders – provision of nominee directors

• Appreciate why it is important to ‘know your client’ in order to avoid constructive trustee liability and possible criminal liability as in Agip (Africa) Ltd v Jackson (1992)

• Understand the role of a nominee shareholder, their duties as (generally) a mere agent of the beneficial owner, as governed by the same terms of the nominee declaration

• Understand the role of a nominee director and recognise that the nomenclature is misleading insofar as a nominee director owes the same duties to the company as an executive director

• Be aware of the risks involved in providing nominee directors, and recognise the problems that can be created by excessive beneficial owner control and appreciate the ways in which to handle the problem and reduce risk

• Be familiar with a standard company management agreement

113



STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUST CREATION: LAW AND PRACTICE


LEVEL: Intermediate

COST: £1,575

DATES: Spring/Summer Autumn/Winter Closing date: 30 September 2011 27 July 2012 Face-to-face course: 16-19 January 2012 26-29 November 2012 Examination: 20 January 2012 30 November 2012

moDule 1: RevIeW oF tHe tRuSt ConCeptThis module covers: • A definition of a trust • An exploration of the identities of, and roles

played, by the main parties • A review of the essential characteristics of a

trust • The distinction between legal and equitable

interests • The fiduciary relationship that exists between

trustee and beneficiary • A comparison of the trust with other legal

concepts, such as – a company – a contract – a testamentary instrument – a civil law foundation (Stiftung)

By the end of this module, you should: • Be able to define a trust and describe its

essential characteristics • Be able to advise a prospective settlor who

is contemplating making a new trust upon matters such as the settlor’s role, capacity, control and reserved powers.

• Appreciate the nature of legal and equitable interests

• Appreciate the role, powers and duties of a trustee

• Be able to distinguish a trust from other legal concepts, in particular

– a company – a contract – a will – a foundation

moDule 2: mARketIng tRuSt SeRvICeS AnD ACCeptIng neW BuSIneSSThis module covers: • Marketing trust services including

– selling the jurisdiction – selling your institution – selling the trust concept

• The pitfalls of over-selling the service or making unjustifiable claims

• The theoretical rules relating to trustees’ remuneration

• The ways in which trust services are rewarded and practical marketing strategies employed by those involved in the fee bargaining process

• A review of the recommended best practice procedures prior to and upon acceptance of new business, both in terms of accepting a new trust and upon taking on an existing trust, including

– ‘know your client’ – the practice and procedures involved in the removal of an outgoing trustee

– the appointment of an incoming trustee and vesting of trust property

– the trustee’s duty upon accepting a trust

By the end of this module, you should: • Be able to appreciate how a trust company

can market the provision of its trust services in a competitive environment

• Be able to explain to a third party the virtues of the offshore jurisdiction from which you carry out business

• Be in a position to market the trust concept in a responsible manner and avoid the pitfalls of over-selling or making misrepresentations in relation to the trust product

• Understand some of the marketing strategies adopted in negotiations with prospective settlors or protectors concerning fees

• Appreciate the aspects of a trustee’s fiduciary duty that apply to the charging of fees – the so-called remuneration rule – and be able to draft or construe a charging clause

• Know the proper procedures to follow prior to accepting the office of trustee – ‘know your client’ and other preliminary duties

• Be in a position to comply with the appointment process, both

– in relation to new trusts – in relation to taking on existing trusts

SYLLABUS


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moDule 3: AntI-money lAunDeRIng – pRoCeeDS oF CRImeThis module covers: • The concept of money laundering from a global

perspective • The theoretical laundering process, namely

the three stages of placement, layering and integration

• A review of statutory duties in relation to customer due diligence and reporting suspicious transactions

• An examination of different anti-money laundering statutory models

• The anti-money laundering provisions enacted in the jurisdiction where you work and a comparison with international standards

By the end of this module, you should • Understand the problems caused by money

laundering from a global perspective • Be able to identify the three theoretical stages

of the money laundering process, namely – placement – layering – integration

• Have reviewed a number of international initiatives to control money laundering

• Be able to fulfil your statutory duty in relation to suspicious transaction reporting

• Be able to compare anti-money laundering provisions in force in the jurisdiction where you work, or have some connection, with internationally accepted standards

• Be aware of common themes running through anti-money laundering initiatives in relation to detection, investigation and prosecution of offenders

moDule 4: AntI-money lAunDeRIng: CounteRIng teRRoRISt FInAnCIng, tAx evASIon AnD CIvIl lIABIlItyThis module covers: • International initiatives that counter terrorist

financing • The methodologies typically used to finance

terrorism, client due diligence and the duty to disclose required in relation to such financial transactions

• An analysis of money laundering, with an emphasis on the thorny issue of laundering the profits derived from tax evasion

• An exploration of a service provider’s civil liability for assisting another to launder the proceeds of a breach of fiduciary duty, in particular to review the principles of ‘dishonest assistance’

By the end of this module, you should • Be able to identify the hallmarks of terrorist

financing and be able to comply with your CDD and disclosure requirements in relation to such funds

• Understand the importance of getting to know your client, their business and the source of their funds in order to avoid the risk of incurring both criminal and civil liability

• Appreciate that, in certain contexts, money laundering not only includes the laundering of the proceeds of crime, but also the profits that derive from tax evasion

• Be able to comply with your statutory duties in relation to disclosures when the predicate crime is tax related

• Understand the AML/CTF requirements that apply in the jurisdiction where you work, or have some connection, and compare the same with international standards

• Understand the liability incurred by service providers who assist third parties in laundering the proceeds of a breach of fiduciary duty for ‘dishonest assistance’

moDuleS 5 AnD 6: tHe tRuSt InStRumentThese modules cover: • The process of obtaining instructions

from an international client to establish an offshore trust

• The use of precedents in the drafting process and analysis of the pros and cons of using different forms of trust instrument

• The framework of a typical trust instrument • A review of some of the standard dispositive

provisions found in – an offshore discretionary trust – a settlor-directed trust – a life interest trust

• The use of typical administrative provisions in order that you may

– decide whether a particular provision should be included in a draft trust instrument

– explain the meaning thereof to the settlor or a third party

– construe some of the standard provisions and powers that you may wish to exercise during the administration of a trust

By the end of modules 5 and 6, you should • Appreciate some of the issues involved in

obtaining instructions to establish an offshore trust for an onshore settlor (in particular, the importance of obtaining specialist onshore legal and tax advice)

• Be familiar with some drafting techniques and the use of precedents in the drafting process

• Be able to consider the pros and cons of – long-form and short-form precedent trust instruments

– drafting a tailor-made trust instrument from scratch

• Be able to construe some of the standard dispositive provisions found in a typical offshore

– discretionary trust – settlor-directed trust – life interest trust

• Be able to illustrate the use and purpose of typical administrative provisions in order that you may

– decide whether a particular provision should be included in a draft trust instrument

– explain the meaning of particular provisions to the prospective settlor or third party

– construe the typical provisions and some of the powers that you may wish to exercise during the administration of a trust

ContInueD oveR >

115



STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUST CREATION: LAW AND PRACTICE /CONTINUED

moDule 7: CHoICe oF lAW to goveRn tHe tRuStThis module covers: • An introduction to the common law conflict of

laws principles used to ascertain which system of law should govern a particular transaction or occurrence

• An explanation of the significance of conflict of laws rules in relation to multi-jurisdictional offshore trust issues whereby a trust is governed by its proper law

• An analysis of typical modern statutory conflict of laws rules enacted in offshore jurisdictions in relation to the governing law of a trust

• The circumstances in which the governing law of a trust may be changed to a new law

• The terms of a typical trust instrument that – makes an express choice of law and forum selection

– provides for a change of governing law – contains a flee clause

By the end of this module, you should • Have grasped some of the basic common law

conflict of laws principles in order to be able to determine which system of law to apply to a multi-jurisdictional transaction, including broad knowledge of the meaning of

– forum – characterisation – conflict of laws – renvoi

• Understand the significance of conflict of laws rules in relation to issues affecting a multi-jurisdictional trust

• Appreciate that, at common law, a trust is governed by its proper law and be able to establish the proper law of a trust

• Be able to construe modern offshore statutory provision whereby the validity of a trust, its interpretation and administration, etc, are determined by the governing law

• Be able to analyse simple conflict of laws problems affecting an offshore trust, to identify its governing law and appreciate the broad exceptions to the general rule whereby the governing law will not apply to certain issues and controversies

• Understand whether, and in what circumstances, the governing law of a trust may be changed to a new law

• Be familiar with the terms of a typical trust instrument that makes an express choice of law and forum selection, and contains a flee clause

moDule 8: tHe Role AnD StAtuS oF tHe tRuSt pRoteCtoRThis module covers: • An introduction to the role of the trust protector • Who may be appointed as protector • The typical powers conferred upon the

protector by the settlor in the trust instrument • The duties of the protector including

– express restrictions on the exercise of the protector’s powers

– implied restrictions which attach to the powers of a protector so that they may only be exercised for a proper purpose

– implied obligations, (in particular, obligations of a fiduciary nature whereby the protector must exercise their powers to safeguard the interests of the trust, its assets and the beneficiaries)

• A review of some of the typical rights conferred upon the protector in offshore trust instruments

• An analysis of the position of a trustee who is obliged to administer the trust alongside a protector

• A summary of the position of the beneficiaries in relation to the protector

By the end of this module, you should • Appreciate why a settlor may wish to appoint

a protector • Be able to identify the various types of

protector and be able to advise upon which type is most suitable in given circumstances

• Be familiar with the typical powers given to a protector

– dispositive and administrative – positive and negative powers

• Be aware of the duties owed by a protector in relation to

– express powers – implied powers

• Know how to manage a trust which confers extensive dispositive and/or administrative powers upon a protector

• Be able to summarise the broad rights and remedies of the beneficiaries against the trust protector

moDule 9: eStAte plAnnIng AnD FoRCeD HeIRSHIp ISSueSThis module covers: • The basics of estate planning • An explanation of the meaning of forced

heirship in contradistinction to testamentary freedom

• An illustration as to how forced heirship provisions affect

– testamentary gifts on death – inter vivos transfers

• Domestic laws of succession and international conflict of laws principles that determine which country’s law of succession should apply

• The interrelationship between forced heirship provisions of a foreign state and the validity of a trust created offshore by a settlor who is domiciled in, and a national of, that foreign state, reviewing in particular

– the type of attack upon the trust and its assets that the trustees may encounter in the forum of the foreign state

– the type of attack upon the trust and its assets that the trustees may encounter in the forum of the offshore jurisdiction

– the provisions of a number of offshore statutes that clarify the conflict of laws position at common law to help preserve the trust and prevent a successful attack upon it in the offshore jurisdiction

By the end of this module, you should • Understand basic estate planning methods • Understand basic forced heirship provisions

and be able to distinguish the concept from freedom of testamentary disposition

• Appreciate the opportunity to market inter vivos offshore trusts to persons from civil law jurisdictions who wish to take advantage of estate planning

• Be able to illustrate not only how forced heirship provisions affect testamentary gifts on death, but also how clawback provisions have an impact upon the recipients of certain gifts made during the lifetime of the deceased (including the creation of an inter vivos trust)

• Understand the interrelationships between forced heirship provisions of a foreign state and the validity of a trust created offshore by a settlor domiciled in, and a national of, that foreign state. In particular, you should be able to advise upon:

– the type of claim that the trustees may face in the forum of the foreign state

– the type of claim that the trustees may face in the forum of the offshore jurisdiction

– the terms of typical offshore statutory provision that clarify the conflict of laws rules in order to confirm that all questions concerning the validity of the offshore trust and disposition of property thereto should be governed by the laws of the offshore jurisdiction


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moDule 10: ASSet pRoteCtIon tRuStSThis module covers: • An introduction to the concept of asset

protection planning • The common law principle that an individual’s

assets should prima facie be available to meet his debts

• The protection afforded to creditors of the settlor by the Statute of Elizabeth, and the factual scenarios in which the powers of the court are exercised

• How an English statute such as the Statute of Elizabeth came to apply in the common law offshore jurisdictions in the first instance

• The nature and extent of modern asset protection legislation enacted in a number of offshore jurisdictions

• An analysis as to which type of trust structure is the most effective in terms of offering the maximum protection to the trust assets against claims made by third parties

• A review of settlor bankruptcy • How an earlier trust being set aside by a court

appointed trustee in bankruptcy

By the end of this module, you should • Appreciate the ethical tension between the

common law principle that an individual’s assets ought to be available to meet his unpaid debts, and the asset protection objective to safeguard and preserve assets transferred into trust

• Understand how a trust may safeguard assets from claims brought against the settlor by third parties

• Be able to explain how the Statute of Elizabeth sought to protect the interests of honest creditors

• Be in a position to advise upon how fraudulent transfer legislation enacted offshore has repealed the Statute of Elizabeth in key areas

• Know how to structure an asset protection trust

• Understand the provisions of the bankruptcy legislation in selected jurisdictions and appreciate how a trustee in bankruptcy may set aside transfers (including trusts) made by a bankrupt up to [x] years prior to them being declared bankrupt

moDule 11: puRpoSe tRuStSThis module covers: • The reasons why trusts established for the

benefit of a purpose rather than persons are invalid under generally accepted equitable principles

• The common law exceptions to the general rule • An examination of modern trust legislation

that permits trusts to be created in favour of a purpose, in particular the following statutory models

– the first generation of Bermudian legislation based upon the Trusts (Special Provisions) Act 1989 of Bermuda

– the Trusts (Special Provisions) Amendment Act 1998 of Bermuda

– alternative models such as the Special Trusts (Alternative Regime) Law 1997 of the Cayman Islands

• Some of the practical uses of purpose trusts, including their use for commercial purposes

By the end of this module, you should • Appreciate the reasons why trusts that have

purportedly been established for the benefit of purposes rather than persons are invalid under common law principles

• Be able to identify the common law exceptions to the general rule prohibiting purpose trusts

• Understand the basic terms of the first generation of purpose trust legislation, and be able to explain the model form found in The Trusts (Special Provisions) Act 1989 of Bermuda

• Understand the basic terms of the second generation of purpose trust legislation, and be able to compare and contrast the approaches taken by

– the Trusts (Special Provisions) Amendment Act 1998 of Bermuda

– the Special Trusts (Alternative Regime) Law 1997 of the Cayman Islands

• Appreciate some of the practical uses of purpose trusts, including their use in commercial transactions

moDule 12: pRIvAte FounDAtIonSThis module covers: • The development of foundations in offshore

centres • The essential characteristics of a private

foundation • The procedure to establish a private foundation • The constitutive documents of a private

foundation • How assets are endowed upon (transferred to)

a foundation • The governance of a foundation • The roles, rights and duties of:

– the founder – the council – the guardian or protector

• The legal position and typical rights of beneficiaries

• The factors that determine whether a private foundation or a trust is the most suitable structure for a client

By the end of this module, you should • Understand the origins and characteristics

of a private foundation and be able to give a working definition

• Be able (to explain how) to establish a foundation

• Be aware of conflict of laws issues that could affect the validity of the endowment of assets to a foundation

• Be familiar with the constitutive documents of a foundation and construe their provisions

• Understand governance issues and how to manage a foundation and, in particular, appreciate the division of power between founder, foundation council and guardian/protector

• Understand the legal position of the beneficiaries and be familiar with typical dispositive provisions usually found in the regulations

• Be able to give objective advice to a high net worth individual client on the pros and cons of the foundation when compared with a trust

117



STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT COMPANY LAW AND PRACTICE


LEVEL: Intermediate

COST: £1,575

DATES: Course closing date: 16 March 2012 Face-to-face course: 18-21 June 2012 Examination: 22 June 2012

moDule 1: An IntRoDuCtIon to CompAny lAW AnD pRACtICeThis module covers: • An introduction to company law • The practise of private company management • A review of the position of the offshore

company in context, i.e. as part of a structure used by trustees, private banking institutions and other firms to hold and manage clients’ assets

By the end of this module, you should • Appreciate the use made by trustees, private

bankers and other service providers of a trust and company combo

moDule 2: CHARACteRIStICS oF A CompAnyThis module covers: • The traditional definition of a company • An analysis as to whether that definition

translates into the language of the offshore world

• An outline of the development and evolution of company law in England and its effect on company law in other common law jurisdictions

• A consideration of some of the fundamental features of a company and what distinguishes them from other forms of undertaking

• The companies legislation applicable to the jurisdiction where you work or with which you have a substantial connection

• The common features of, and advantages that accrue to, a company incorporated either onshore or offshore

• An analysis of the arguments for and against the integrity of ‘one-man’ companies and the limited liability of shareholders

• An exploration of the typical use made of companies incorporated in an offshore jurisdiction

By the end of this module, you should • Understand the broad features of a private

limited company • Appreciate the fundamental economic

principles behind much company legislation • Be able to put the private limited company into

context by comparing it with other business media, in particular a partnership structure

• Appreciate that the company legislation in the common law offshore jurisdictions derives from English statutory provisions, tweaked here and there to take into account local conditions, practices and procedures, and fulfils specific objectives identified by local lawmakers

• Be in a position to identify and describe the common features of an incorporated company

• Understand the implications that flow from a company having a separate legal personality

• Be able to explain the significance of the ‘veil of incorporation’ and how it can be pierced

• Appreciate the typical uses made of companies incorporated offshore

moDule 3: CompAny FoRmAtIon AnD RelAteD ISSueSThis module covers: • The role, duties and rights of a promoter • Issues, at common law, affecting the

enforceability of pre-incorporation contracts and an exploration as to how problems are solved by modern offshore companies legislation

• Theoretical and practical aspects of incorporation of a private limited company in a hypothetical offshore jurisdiction

• An understanding of the statutory procedures required to incorporate a company in the jurisdiction where you work or have a substantial connection

• Drafting certain key documents • Issues in relation to the migration of companies • The main features and characteristics of a

variety of offshore vehicles

By the end of this module, you should • Appreciate the role, duties and rights of a

promoter • Understand the issues, at common law,

affecting enforceability of pre-incorporation contracts and be able to indicate how problems are solved by modern offshore legislation

• Be able to analyse the theoretical and practical aspects of incorporation of a private limited company in a hypothetical offshore jurisdiction

• Understand the statutory procedures required to incorporate a company in the jurisdiction where you work or have some other substantial connection

• Be able to draft certain key documents

SYLLABUS


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• Be able to identify some of the preliminary issues in relation to the migration (or redomiciliation) of companies

• Be in a position to distinguish between features of a number of different type of company

moDule 4: tHe CompAny’S ConStItutIonThis module covers: • The historical development of the corporate

constitution • The function and typical content of the

memorandum and articles of association • An analysis of corporate capacity and the

evolution of the ultra vires doctrine • Alteration of the memorandum • Alteration of the articles

By the end of this module, you should • Appreciate the historical development and

current theories relating to the constitution of a company and recognise that the constitution of a traditional corporate structure comprises

– the memorandum – the articles of association

• Understand the typical content of the memorandum of association, and be able to determine how it can be moulded, within the legislative framework, to meet the requirements of the client

• Be able to analyse the capacity of a company to transact business under modern companies legislation that repeals the ultra vires doctrine

• Be able to determine how the memorandum may be altered

• Know how to determine the rights of, powers and procedures affecting the shareholders, directors and officers of a company

• Understand the functions and typical content of the articles of a company, and to determine how they can be moulded, within the legislative framework, to meet the requirements of the client

• Be able to determine how, and in what circumstances, the articles may be altered

moDule 5: CApItAlThis module covers: • An introduction to the concept of ‘capital’ in

different contexts • How a company may issues shares to raise

capital • How the capital maintenance rules restrict the

funds that can be used to distribute dividends to shareholders

By the end of this module, you should • Appreciate what is meant by the term ‘capital’

and understand the principles behind the capital maintenance doctrine

• Understand how a company is typically capitalised or funded in the onshore business environment by

– members (share capital/equity) – creditors (loan capital/debt)

• Distinguish some of the features of – the ordinary share – the preference share – loan documentation

• Be able to apply the capital maintenance principles to the start-up funding of a company, in particular in relation to the issue of

– discount or watered stock – shares offered at a premium

• Be able to compare onshore regulations with the simplified practices that are followed in relation to a company incorporated offshore, by both

– share capital – loan capital

• Appreciate why flexible distribution provisions are desirable and understand how this is achieved

– under the IBC (International Business Company) and similar legislation

– under less flexible legislation by repayment, in whole or part, of the shareholder loan

moDule 6: DIReCtoRS pARt I – Role, AppoIntment AnD RemovAl oF DIReCtoRSThis module covers: • Corporate governance under the traditional

onshore corporate model • How the traditional Anglo-American corporate

model has been used as a template by legislators and service providers offshore

• The provisions conferring powers of management upon the directors

• Appointment of directors • Vacating office, removal and disqualification of

directors

By the end of this module, you should • Understand what is meant by the ‘traditional

corporate model’ and ‘corporate governance’ • Appreciate that the traditional corporate model

has been used – by legislatures in offshore jurisdictions in drafting companies legislation

– by professional corporate service providers when drafting standard articles

• Be able to construe standard articles conferring powers of management upon the directors, namely

– Art. 80, Table A, Companies Act 1948 – Art. 70, Table A, Companies Act 1985

• Understand the different methods adopted offshore to appoint the initial directors upon incorporation

• Be familiar with typical articles dealing with the removal of directors by shareholders and the disqualification of persons either by the regulator or automatically

ContInueD oveR >

119



STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT COMPANY LAW AND PRACTICE /CONTINUED

moDule 7: DIReCtoRS pARt II – DIReCtoRS’ poWeRS AnD DutIeS

This module covers: • The powers usually conferred upon directors • Duties owed by directors • A director’s duty to exercise his powers of

management with appropriate care and skill • The mechanics of board meetings and the

directors’ decision-making process • The circumstances in which a director may

become liable to the company and to creditors of the company

By the end of this module, you should • Be able to construe the usual powers

conferred upon the directors by the articles of association

• Understand the basic procedures involved in the directors’ decision-making process

• Be able to advise upon the legal effect of a transaction entered into by the directors outside their powers

• Appreciate the constituent parts of a director’s fiduciary duty to the company, and be able to apply the relevant principles to typical factual scenarios encountered in offshore corporate practice

• Understand the director’s duty to use appropriate care and skill in the management of the company, both at common law and under modern companies legislation, and be able to apply the relevant principles to typical factual scenarios encountered offshore

• Appreciate the methods whereby a director may avoid or protect themselves from liability (to the company or to third parties) for potential breach of duty

moDule 8: otHeR oFFICeRS oF A CompAny: SeCRetARy AnD RegISteReD AgentThis module covers: • The position of company officers within the

corporate body • The procedures for the appointment, removal

and retirement of company secretaries • The usual duties and functions of a company

secretary • The potential liability of the company secretary • The role, powers and duties of a registered

agent under specific statutory provisions

By the end of this module, you should • Be able to describe the procedures for the

appointment, removal and retirement of company secretaries of companies under the management of your organisation

• Be able to list the usual duties of a company secretary

• Understand the functions and practise of the company secretary

• Be able to advise upon the potential liability of the company secretary

• Appreciate the role, powers and duties of a registered agent under specific statutory provisions

moDule 9: CompAny DeCISIon-mAkIng pRoCeDuReSThis module covers: • The difference between the powers of the

directors and the powers of shareholders of a company

• The procedures involved in convening and conducting general meetings

• The procedures involved in convening and conducting directors’ meetings

• The decision-making procedures • Drafting notices, resolutions and minutes of

meetings

By the end of this module, you should • Be able to differentiate between powers of

directors and powers of shareholders • Be able to convene, hold and conduct general

meetings of the shareholders of a company • Be able to convene, hold and conduct

meetings of directors • Be able to draft notices, resolutions and

minutes of meetings for a variety of situations

moDule 10: tAxAtIon oF CompAnIeS: tAx plAnnIngThis module covers: • The fundamental principles in relation to the

taxation of corporate entities from a global perspective

• The tax planning opportunities that accrue to a company incorporated offshore

• Typical onshore anti-tax avoidance provisions • Withholding tax procedures in the US under

the Qualified Intermediary Rules, 2000

By the end of this module, you should • Appreciate the fundamental principles in

relation to the taxation of corporate entities from a global perspective

• Understand some of the tax planning opportunities that accrue, in certain circumstances, to a company incorporated offshore

• Be able to recognise typical onshore anti-tax avoidance provisions

• Be able to comply with the US Qualified Intermediary Rules, 2000


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moDule 11: tHe pRovISIon oF CompAny mAnAgement SeRvICeS In oFFSHoRe CentReSThis module covers: • The nature of the service providers and the

range of services provided • Standard service provider documentation • Due diligence requirements • Involvement of the beneficial owner • The regulation of company management

business

By the end of this module, you should • Be able to describe the range of company

services that are provided from offshore centres including

– incorporation – registration and continuance – provision of directors and officers – provision of shareholders – registered office facilities – corporate filing and general secretarial services

• Appreciate the importance of, and be able to construe, standard documentation including

– company management agreements – directors’ appointments – nominee shareholder declarations

• Be able to avoid problems associated with the beneficial owner having too much control over the affairs of their company

moDule 12: RegulAtIon oF CompAny mAnAgement BuSIneSSThis module covers: • International initiatives relating to the regulation

of company management business • An examination of various offshore

jurisdictions’ regulation of corporate management services

• An analysis of transparency and how this affects the provision of company management services

• What is meant by information sharing, and the criteria to be met before regulator-to-regulator information sharing can take place under advance commitments given to OECD

By the end of this module, you should • Be able to name and describe four recent

international initiatives relating to the regulation of company management business

• Be able to describe how the provision of company management services is regulated by licensing requirements and how such provision is supervised

• Understand the concept of transparency, why the OECD considers it desirable and how it may be achieved

• Appreciate the rationale behind information sharing, particularly in connection with criminal and tax-related matters, and how OECD hope that regulator-to-regulator information sharing will be achieved under advance commitments given, and TIEAs agreed, by a number of offshore jurisdictions

moDule 13: teRmInAtIon oF CompAnIeSThis module covers: • Compulsory winding-up • Liquidation • Voluntary winding-up • Defunct companies

– dissolution – striking off

By the end of this module, you should • Understand how creditors can try to recover

monies owed to them when a company is in difficulties

• Understand the steps directors can take to try to avoid liquidation

• Be able to demonstrate an understanding of the process of, and procedures involved in

– a compulsory winding-up of a company – a voluntary winding-up of a company

• Be able to explain the difference between dissolution and striking off

121



STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUST ADMINISTRATION AND ACCOUNTS


LEVEL: Intermediate

COST: £1,575

DATES: Spring/Summer Autumn/Winter Course closing date: 16 December 2011 24 August 2012 Face-to-face course: 16-19 April 2012 3-6 December 2012 Examination: 20 April 2012 7 December 2012

moDule 1: IntRoDuCtIon to tHe lAW In RelAtIon to tRuSt BookkeepIng AnD tHe pRepARAtIon oF peRIoDIC tRuSt ACCountSThis module covers: • A review of the duty owed by a trustee in

relation to record keeping and the preparation of accounts

• An analysis as to whom a trustee’s duty (to keep and render proper accounts) is owed and whether, and if so how, the duty can be cut down or modified

• The consequences faced by a trustee who is in breach of their duty to keep or render proper accounts

• The requirements as to the form of a trustee’s books and records and the format of accounts rendered and how often accounts should be prepared

• When, and in what circumstances, an audit is necessary, and, if so, how to proceed

By the end of this module, you should • Be able to comply with the duty owed by

trustees in relation to trust records and accounts, specifically

– to keep accurate financial data of trust property that allow a history of the trust assets to be periodically constructed

– to render a summary of the financial position of the trust to interested persons periodically and when called upon to do so

• Be able to establish to whom the duty to account is owed

• Appreciate the consequences of failing to keep accurate financial records or failing to furnish accounts to persons entitled to them

• Understand the requirements as to form and content of a trustee’s books and records, and the frequency and format of a trustee’s periodic accounting

• Appreciate when, and in what circumstances, an audit of trust accounts may be necessary, and be familiar with how auditors are retained and how they report their findings

moDule 2: IntRoDuCtIon to tRuSteeS’ ReCoRD keepIngThis module covers: • What information trustees have to record • The defects of single-entry bookkeeping • An explanation of the fundamental accounting

equation • Double-entry bookkeeping • The importance of the nominal ledger • How information technology assists in the

accounting process

By the end of this module, you should • Be able to explain the need for a double entry

accounting system • Be able to understand the fundamental

accounting equation and be able to apply it • Be able to make simple entries relating to a

trust • Be able to explain the structure of a trust

ledger • Appreciate how modern practice uses IT

systems in trust accounting

moDule 3: tRuSt ACCountSThis module covers: • The purpose of preparing accounts for trusts • Factors that influence the form of the

accounting records of a trustee • The preparation of annual accounts of a trust

from straightforward data recorded in the trustee’s books and records

• The key financial statements • The implications of trust assets being held by

an underlying company

By the end of this module, you should • Be aware of the purpose of preparing trust

accounts • Be able to identify relevant factors that

influence the form of trust accounts • Understand the nature of the key financial

statements • Be capable of drawing up a simple set of

annual trust accounts from straightforward data

• Appreciate the accounting implications for a trustee in circumstances where the trust’s assets are held through the medium of an underlying company

SYLLABUS


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moDule 4: ACCountS oF oFFSHoRe ASSet-HolDIng CompAnIeS unDeRlyIng A tRuStThis module covers: • The need for a separate set of company

accounts in addition to accounts prepared by the trustee

• The components of the separate documents that comprise the final accounts of a company and their meaning

• An analysis as to why conventional formats are not wholly suited to a typical offshore, passive, asset-holding investment company

• An illustration of a set of final accounts

By the end of this module, you should • Appreciate that there is a need for both

company and trust accounts in circumstances when a company has been set up in order to hold trust assets

• Be familiar with the documents that comprise the essential elements of a set of final accounts of a company, and the basis on which the information contained therein has been prepared

• Understand where the information contained and set out in a set of offshore company accounts may well diverge from a set of typical trading company accounts

• Be able to understand the information conveyed by a set of final accounts of a typical offshore company underlying a trust

• Be able to prepare some elementary final accounts from information contained in the trust and/or company records

moDule 5: tRuSt mAnAgement – ReSeRveD poWeRS AnD ‘SHAm’This module covers: • A foundation for later modules, particularly

Module 6 through Module 11 which deal with the administration and disposition of trust assets, for delegates who are more familiar with settlor-directed trusts

• A (re)introduction of sham trust syndrome • An analysis of some preliminary management

issues by distinguishing the standard plain vanilla discretionary trust from a trust with extensive reserved powers enabling the settlor (or protector) to influence or control the exercise of some of the trustee’s administrative and dispositive powers

• A review of the typical modern reserved powers legislation

• Whether a trust can be established in such a manner that it may be later set aside as a (substantive) sham by a third party

By the end of this module, you should • Understand why a settlor may wish to reserve

powers to retain some control over trust assets, and how this is often achieved in the trust instrument

• Appreciate the theory that supports the view that the greater the powers reserved by the settlor, the greater the risk that the trust may be set aside as a sham

• Be able to summarise the provisions of modern reserved powers legislation, and its purpose and effect

• Appreciate that some of the independent decision-making issues that apply to the management and investment of, and disposition from, a typical plain vanilla discretionary trust do not apply to a settlor-directed trust

• Understand how the trustee’s conduct in administering a trust can give rise to a challenge on the grounds that it is a substantive sham, and appreciate how such risk can be avoided by adopting best practice

moDule 6: tRuStee InveStment – lAW AnD pRACtICeThis module covers: • The historical evolution of the law and practice

relating to a trustee’s power of investment in England and to illustrate how such powers were traditionally exercised

• An examination of the typical offshore legislation conferring upon trustees implied investment powers that operate in default of any express provisions to the contrary

• How express powers of investment conferred upon a trustee by the trust instrument modify the trustee’s statutory powers

• The standard of care that trustees must observe when exercising their powers of investment

– at common law – under modern statutory provisions

• the restrictions that apply at common law to reduce a trustee’s ability to delegate part of their investment function to agents, such as investment managers and advisers

• Modern provisions enabling a trustee to delegate their investment powers to agents

• The importance of monitoring investments

By the end of this module, you should • Understand how a trustee’s powers of

investment evolved in England • Appreciate how express investment powers

may be conferred upon trustees by the trust instrument and that statutory powers of investment apply in default

• Have established the extent of the statutory powers of investment given to trustees in your jurisdiction

• Be able to comply with the standard of care expected of a professional trustee when exercising their investment powers, both under the common law criteria and under new principles found in modern trust legislation

• Appreciate why it is necessary to obtain advice from, or to delegate your discretion as to

when, how and where to invest, to investment advisers and qualified managers, having regard to the complexities of global investment opportunities

• Understand the position with regard to a trustee’s ability to delegate part of their fiduciary functions to agents, and ensure that, having properly delegated the investment function, you are duly protected from liability for loss suffered by the trust fund arising from the negligence or other default of the investment manager or adviser

moDule 7: mAnAgIng tRuSt ASSetS I – StoCkS, SHAReS AnD otHeR SeCuRItIeSThis module covers: • Why it is prudent for a trustee to delegate their

powers of investment to experts • The advantages of delegating the power to

invest on a discretionary basis • How the appointment of an investment

manager is undertaken • How to set the investment objectives of a trust • How to set a benchmark • How an investment manager creates a

portfolio by investing the trust fund, and to give a brief description of various types of monetary instruments, bonds, stocks and collective investment vehicles

• How a trustee should monitor the performance of an investment portfolio

By the end of this module, you should • Be able to explain why it is prudent for a

trustee to delegate their powers of investment • Be able to identify the advantages of

delegating the power to invest on a discretionary basis

• Be capable of making an informed choice when appointing investment advisers/managers

• Be able to establish the investment objectives of a trust and its risk profile

• Be able to set both a simple and a composite benchmark for the trust investments

• Be able to understand and be able to give a basic description of different types of cash instruments, bonds, collective investment vehicles and equities

• Be able to monitor meaningfully the performance of a trust portfolio

ContInueD oveR >

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STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUST ADMINISTRATION AND ACCOUNTS /CONTINUED

moDule 8: mAnAgIng tRuSt ASSetS II – ReAl eStAteThis module covers: • The management requirements of a portfolio

of real estate and a portfolio of stocks and shares in order to illustrate that ownership of real estate is more complex and involves more onerous and time-consuming responsibilities

• How trustees establish the investment objectives of a trust that comprises real estate

• How and why it is necessary for trustees to appoint

– a property investment manager – and/or a managing agent

in respect of real estate held in trust • How to set a benchmark in order to measure

the performance of real property • How a real estate portfolio is created by the

acquisition (and subsequent letting) of – commercial property – agricultural property – residential property

• The importance of periodically monitoring the performance of a real estate portfolio

By the end of this module, you should • Appreciate that ownership of real estate is

far more complex and time-consuming, and involves far more responsibility, than ownership of a portfolio of stocks and shares

• Be able to establish the investment objectives of a trust that includes real estate

• Be able to decide whether it is necessary (and, if so, how) to appoint

– a property investment manager – a managing agent

• Be able to set a benchmark • Understand how a real estate portfolio is

created by the acquisition (and subsequent letting) of commercial, agricultural and/or residential property

• Be able to measure the investment performance of real estate held by trustees both in terms of net rental income and capital appreciation

moDule 9: mAnAgIng tRuSt ASSetS III – movABle CHAttelSThis module covers: • A trustee’s duties in relation to, and some

of the procedures involved in, accepting chattels into trust or otherwise acquiring them by way of

– voluntary transfer – purchase

• Whether a trustee is empowered to invest in the purchase of chattels and considers whether it is prudent to do so

• Ways to minimise risk when purchasing chattels and transporting works of art and antiquities

• When, and in what circumstances, a trustee may acquire chattels for the purpose of enjoyment by a beneficiary

• Some of a trustee’s special duties in relation to chattels held in trust

By the end of this module, you should • Appreciate the extent of a trustee’s duty,

and the procedural mechanics involved, in accepting chattels into trust or otherwise acquiring them by way of

– voluntary transfer – purchase

• Be able to establish whether you, as trustee, have the power to invest in the purchase of chattels and consider whether it is prudent to do so

• Know when to minimise the risks inherent in purchasing chattels and transporting works of art and antiquities across borders

• Be able to establish when, and in what circumstances, a trustee may acquire chattels for the purpose of enjoyment by a beneficiary

• Appreciate and comply with a trustee’s special duties in relation to chattels, including the duty

– to prepare an inventory – to protect the chattels and keep them safe – to insure

moDule 10: mAnAgIng tRuSt ASSetS Iv – A ContRollIng InteReSt In tHe SettloR’S FAmIly BuSIneSS empIReThis module covers: • Some of the reasons why a prospective settlor

may wish to transfer the shares of their private trading or investment company into trust

• The standard of care owed by a trustee to monitor the affairs of a private trading or investment company (whose shares are held in trust) and to supervise the actions of its directors

• Ways in which trustees may keep themselves informed of the company’s business activities; and ways in which the trustees may interfere in management whenever they determine that action is required to protect the trust assets and the value of their shares

• Some of the ways in which a trust may be established in order to protect the trustee by modifying the Bartlett duty to monitor the affairs of the underlying company

• Estate planning options for the continued good management of the private trading or investment company after the settlor’s death

• Some of the dispositive provisions that may be included in a trust comprising shares in a private company, and related issues

By the end of this module, you should • Appreciate why a settlor may wish to transfer

the shares in their private business to trustees • Be able to describe a trustee’s standard of

care to monitor the affairs of the business (held in trust) and supervise the actions of its directors, and to apply that test to typical factual situations

• Be able to keep informed of the company’s business activities and know how to interfere in circumstances when you determine that action is required to protect the trust assets

• Be able to modify the Bartlett duty (to monitor the affairs of the company) by the use of express exculpatory provisions in the trust instrument, indemnity, special purpose vehicles, private trust companies, etc.

• Be capable of discussing estate planning options with a settlor for the continued good management of the company after their death

• Be able to consider the dispositive provisions of a typical trust of shares of a private company and related issues


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moDule 11: DIStRIButIonS – lAW, pRACtICe AnD pRoCeDuReThis module covers: • A trustee’s duty to distribute in accordance

with the beneficial interests created by the trust, and their dispositive powers to distribute in his discretion

• The different types of beneficial interests that exist in trust property and how the beneficial rights of the beneficiaries correspond to the duties owed by the trustee

• Some typical dispositive powers conferred upon a trustee by trust legislation, and by express terms set out in the trust instrument

• The duties owed by a trustee in relation to distributions of trust property, including the duties owed when exercising a dispositive power

• The factors to consider in the decision-making process in relation to the exercise of dispositive powers

• Typical procedures involved in making distributions

By the end of this module, you should • Distinguish a duty to distribute and a power

to do so • Be able to explain typical dispositive powers

conferred upon a trustee by – trust legislation – common express terms of the trust instrument

• Appreciate the rights enjoyed by the beneficiaries and the corresponding duties owed by the trustee in respect of different types of beneficial interests, particularly

– a life interest – an interest in remainder – a contingent interest – an interest under a discretionary trust

• Be able to identify proper considerations that affect a trustee’s decision-making process regarding distributions

• Understand, and duly employ, appropriate distribution procedures typically adopted by trust companies

moDule 12: oFFSHoRe tAx plAnnIngThis module covers: • A discussion of offshore tax planning generally • The tax advice you are given by in-house or

onshore tax professionals • A definition of effective tax planning and how

the benefits can be preserved through best practice offshore trust management

• Typical taxation principles applicable to individuals, trusts and companies and describe how offshore trustees and beneficiaries of offshore trusts may become subject to onshore tax

• A review, through examples, of the tax implications of offshore structures from the perspective of the UK and the US

• The extent of the anti-tax avoidance provisions in the UK and US and describes how they affect traditional tax avoidance/mitigation techniques

• How the OECD and others are addressing unfair tax competition

By the end of this module, you should • Understand the broad principles of effective

offshore tax planning and the pitfalls to be avoided

• Appreciate the typical onshore taxation principles, with regard to residence, domicile and citizenship, for individuals, trusts and companies and be able to apply these principles to the day-to-day establishment and administration of offshore trusts and companies

• Appreciate the importance of obtaining competent tax advice relating to the taxation implications of all relevant transactions affecting the trust, including

– its creation – investment of trust property – distributions

• Be able to explain some of the benefits of the UK as a potential tax haven for UK non-domiciliaries and some of the basic techniques to keep the investments outside the reach of UK tax

• Understand the UK anti-avoidance rules and reporting requirements as they relate to UK and non-UK resident domiciliaries

• Understand the broad US tax environment and how these principles apply to the offshore activities of US persons and the onshore US activities of foreign persons

• Understand the key factors applied by OECD in identifying and assessing preferential tax regimes harmful to the interests of OECD countries

moDule 13: ConFIDentIAlIty AnD CompulSoRy DISCloSuReThis module covers: • The concept of confidentiality and how it

impacts upon a trustee • When, and in what circumstances, a trustee is

obliged to disclose trust accounts and other information

• When, and in what circumstances, a trustee is obliged to disclose trust documents and other information as part of their public duties

By the end of this module, you should • Appreciate how and why the duty of

confidentiality arose and how it affects the provision of financial services

• Be able to ascertain when, and in what circumstances, a beneficiary is entitled to trust accounts and other information relating to the trust

• Know when, and in what circumstances, a third party related to the trust (such as the settlor or the protector) is entitled to trust accounts and other information relating to the trust

• Understand the extent of your public duty to disclose documents and other information relating to the trust to the regulator, the money laundering authority and/or the courts

moDule 14: vARIAtIon AnD teRmInAtIon oF tRuStSThis module covers: • The extent to which provisions of an existing

trust may be varied or terminated by the settlor, the trustees or the beneficiaries

• Typical legislation that enables the court to approve a variation

By the end of this module, you should • Understand when, and in what circumstances,

a trust may be revoked, varied or brought to an end by either one or more of

– the settlor – the trustee – the beneficiaries

• Appreciate when, and in what circumstances, the court may approve a variation of an existing trust

125



STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUSTEE INvESTMENT AND fINANCIAL APPRAISAL


LEVEL: Intermediate

COST: £1,575

DATES: Spring/Summer Autumn/Winter Course closing date: 16 September 2011 22 June 2012 Face-to-Face Course: 9-12 January 2012 24-27 September 2012 Examination: 13 January 2012 28 September 2012

moDule 1: tRuStee InveStment: An IntRoDuCtoRy oveRvIeW

This module covers: • An introduction to the concept of investment

and reviews some preliminary definitions • The relationship between risk and return • An introduction to the financial markets and an

explanation of their broad purpose, that is, to act as a marketplace where governments and commercial trading entities in need of capital can meet investors with money to invest, in order to raise capital by way of

– loan – issuing bonds – selling equity

• A review of the role of a professional trustee carrying on trust business from an international financial centre in relation to the investment of trust property

• The need to consult experts or delegate the trustee’s investment powers

• An identification of the three essential components of a balanced portfolio, namely

– liquidity – stability – growth

By the end of this module, you should • Have developed some basic knowledge of

investments • Appreciate the relationship between risk and

return and understand how risk-averse and risk-tolerant investors behave

• Understand the broad purpose of the financial markets

• Appreciate the role of a professional trustee in relation to the investment of trust property and, in particular, to appreciate the need to consult experts or delegate the trustee’s investment powers

• Be able to identify the three essential components of a balanced portfolio, namely

– liquidity – stability – growth

moDule 2: InveStIng In CASH AnD tHe money mARketS

This module covers: • A review of a trustee’s options when investing

trust funds in liquid assets (so that cash is readily available in order to cover foreseeable expenses and immediate needs)

• A description of the common types of account used for holding cash

• An analysis of some of the component parts of the money markets, namely

– the inter-bank market – the money market securities market

• An introduction to the money market securities market and, in particular, a review of the salient features of Treasury bills, negotiable certificates of deposit and commercial paper

• An explanation of how a trustee may gain access to the money markets

– by retaining money market brokers – by opening a money market account – via a money market fund

By the end of this module, you should • Appreciate the options available to trustees

when investing trust funds in cash, or an equivalent liquid security, in order to cover immediate needs

• Be able to describe the salient features of the common types of account used for holding cash

• Understand some of the component parts of the money markets, namely

– the inter-bank market – the money market securities market

• Appreciate the features of the main money market securities

• Be able to gain access to the money markets with the assistance of money market brokers or via a money market account or fund

moDule 3: An IntRoDuCtIon to tHe BonD mARketS

This module covers: • An introduction to the concept of debt • The general characteristics of a bond • An exploration of some of the technical

features of, and terminology used in, the money and bond markets

• An analysis of the behaviour of bond prices and an identification of factors that influence the price of a bond and the rate of interest payable to a bondholder, namely

– risk – maturity date – liquidity – supply and demand – rate of inflation

SYLLABUS


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ContInueD oveR >

• A review of the yields, distinguishing the coupon rate of interest payable on a bond, its current yield and its yield to maturity, by taking into account

– the price paid for, or the value of, a bond (rather than its face value)

– its redemption value upon maturity • A description of the credit rating system that

acts as a guide to investors in order that the markets may appreciate the risk and assess an appropriate yield

By the end of this module, you should • Appreciate some of the technical features

of, and market terminology used in, the bond markets

• Be able to analyse what is meant by the rate of interest payable to an investor who has lent money to a borrower on the financial markets

• Have an understanding of the behaviour of bond prices generally and identify factors that affect bond prices and their yields

• Be able to distinguish coupon interest, current yield and yield to maturity

• Be able to use the credit rating systems as a guide when investing trust funds in order to assess both risk and an appropriate market rate of interest

moDule 4: typeS oF BonDThis module covers: • A comparison of the money and bond markets • Domestic and international (Eurobond) bond

markets • A description of the different types of bond,

namely – government bonds – semi-sovereign bonds, such as municipal, local authority and public sector bonds

– corporate bonds and their many variations, including callable, puttable and convertible bonds, debentures and warrants

– mortgage bonds and other asset-backed securities

– foreign bonds – junk bonds

• The historical background to the emergence and growth of Eurodollars, Eurocurrencies and Eurobonds

• The Eurobond market • An exploration of the meaning of, and practice

relating to – currency and interest rate swaps – coupon stripping

By the end of this module, you should • Appreciate the features of the money and

bond markets • Be able to distinguish between the domestic

and international (Eurobond) bond markets • Be capable of explaining the central

characteristics of different types of bond, categorised according to the issuer

• Understand price quotations

• Be able to explain the historical background to the emergence and growth of Eurodollars, Eurocurrencies and Eurobonds and appreciate the importance of the Eurobond market

• Realise that there are many variations on the Eurobond theme

• Understand the meaning and purpose of, and practice relating to currency and interest rate swaps

moDule 5: tHe eQuIty mARketSThis module covers: • The concept of equity finance and compares

it with debt • The characteristics of stocks, a comparison of

common stock with typical features associated with preferred stock and a look at other market categorisations

• The primary and secondary equity markets • The regulation of, and the practices and

procedures common to most of the world’s major primary equity markets

• The common practices and procedures of some of the world’s major secondary equity markets

• The performance of equity markets by consulting indexes and averages

• The challenges faced by traditional stock exchanges

By the end of this module, you should • Appreciate the main characteristics of stocks • Understand the broad characteristics of some

of the world’s equity markets • Be able to distinguish between the primary and

secondary equity markets • Understand the common practices and

procedures of the primary equity markets when a corporate raises capital in exchange for the issue of new stock by way of

– a new issues of shares – rights issues – scrip issues and splits

• Understand the common practices and procedures of the secondary equity markets when investors trade shares on an exchange including

– how shares are traded by operating brokerage accounts

– how the exchanges work – the clearing and settlement of trades

• Be able to establish the measurement, and the performance of equity markets and monitor individual investment portfolios by consulting indexes and averages

moDule 6: InveStment AnAlySISThis module covers: • A consideration of the role of the investment

analyst • The distinct schools of thought to which

analysts belong • A description of a number of popular

investment systems, such as – the Dow theory – the relative strength system – the filter system – the price volume system – the diversify, buy and hold strategy

• A consideration of some of the significant investment theories upon which investment systems may be based, namely

– modern portfolio theory – the capital-asset pricing model using beta coefficients

• An explanation of an analyst’s recommendations

By the end of this module, you should • Be familiar with the role of an investment

analyst • Appreciate the difference between the

fundamental analyst and the technical analyst (or chartist) and the two schools of thought to which they belong

• Be aware of a number of investment systems used by technical analysts

• Understand in broad terms what is meant by the efficient market hypothesis

• Be able to explain the concepts of modern portfolio theory, the capital-asset pricing system and beta coefficients

• Understand an analyst’s recommendation

moDule 7: FInAnCIAl AppRAISAl AnD tHe uSe oF RAtIo AnAlySISThis module covers: • The concept of financial appraisal • The use of ratio analysis • Important solvency ratios, namely

– net worth calculations – the current ratio and quick liquidity ratio – debt to equity ratios

• The main profitability ratios, measuring – return on assets – return on equity – profit margin – asset turnover

• The main investor ratios, namely – earnings per share – dividends per share – the payout ratio (dividend cover) – dividend yield – the P/E ratio – earnings yield

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By the end of this module, you should • Understand how ratio analysis can assist an

investor and an investment analyst in deciding which stocks to buy, hold and/or sell

• Be able to calculate, and interpret the meaning of, a number of the solvency, profitability ratios and those ratios specifically concerned with returns to the investor

• Appreciate how analysts appraise a company and assess its solvency and liquidity, profitability, leverage, efficiency, growth, and whether its stock price offers value for money

• Appreciate some of the limitations of ratio analysis as a tool for comparison

moDule 8: ColleCtIve InveStment FunDSThis module covers: • An introduction to collective investment • The advantages of collective investment funds • The different legal structures adopted by

collective investment funds • A review of some of the more usual investment

strategies that may be followed by a fund manager and a description of special types of fund

• How to buy shares in a collective investment company and an emphasis of the importance and content of the prospectus

• How to monitor performance of a mutual fund and an analysis of mutual fund quotations and typical performance figures

• The circumstances in which investment funds may be a useful investment medium for a trustee with trust funds to invest

By the end of this module, you should • Be familiar with the concept of collective

investment vehicles • Be able to explain the advantages of collective

investment • Understand the different structures adopted

by collective investment companies • Be able to interpret investment strategies

published by investment fund managers • Appreciate how to buy and sell shares in a

mutual fund company • Be familiar with mutual fund quotations and

appreciate how to monitor the performance of a typical fund

• Appreciate how, and in what circumstances, collective investment funds may be used by a trustee with trust funds to invest

moDule 9: optIonS AnD DeRIvAtIveS mARketSThis module covers: • Derivative products, and outlines who invests

in them, where and with what objectives • Options and a review of the standard terms of

options contracts • A review of stock options and ascertains

typical rights acquired by purchasing call and put stock options

• An exploration as to when, and in what circumstances, a stock option should be abandoned, exercised or traded

• An explanation of the value of options by breaking their value down into an intrinsic value and a time value, to ascertain whether the premium sought by option writers is fair

• Other types of options, specifically those derived from

– an index – bonds

• Typical, and some esoteric or exotic, option strategies for the sophisticated investor

By the end of this module, you should • Appreciate the character of derivative products

and know who invests in them, where and with what objectives

• Understand the topic of stock options and appreciate typical rights acquired by purchasing call options and put options

• Be able to explain when, and in what circumstances, an option may be abandoned, exercised or traded

• Understand how option premiums are priced and be able to break the value of an option down into an intrinsic value and a time value in order to analyse the pros and cons of the various options available for a particular stock

• Appreciate the concept of index options and how they may be used to hedge or speculate upon anticipated movements in the market as a whole

• Be able to translate your basic understanding of stock options to cope with issues arising in relation to options to buy or sell bonds, and appreciate how the concept of bond (or interest rate) options can be used to hedge or speculate upon anticipated movements in interest rates in an economy

• Be able to describe a sample of typical and/or esoteric option strategies for the sophisticated investor

moDule 10: FutuReSThis module covers: • The futures markets and traces their evolution

through cash markets, to forward contracts and into the modern futures markets first established in Chicago in the 19th century

• The identification of the users of the futures markets, namely the hedger and speculator, and explains typical hedging techniques and the relationship between prices in the hedge market and prices in the physical market

• The commodity futures and financial futures • The definition of a commodity futures contract,

and an explanation of typical practices, procedures and investment strategies and, in particular, illustrates how futures contracts may, in due course, be closed out

• Financial futures, and defines and explains typical practices and strategies of

– bond futures (sometimes known as interest rate futures)

– stock index futures

By the end of this module, you should • Understand the nature of futures and futures

trading and appreciate the rationale behind the futures market, namely that it enables an investor

– to hedge against future adverse price movements

– to speculate thereon • Be able to explain hedging techniques and

discuss the relationship between prices in the hedge market and prices in the real or physical market

• Understand the nature of commodity futures, know how and why they are traded, and be able to distinguish between

– the cash markets – forward contracts – futures

• Be able to appreciate the nature of financial futures, know how and why they are traded, and be able to distinguish between

– bond futures (often referred to as interest rate futures)

– stock index futures

STEP DIPLOMA IN INTERNATIONAL TRUST MANAgEMENT TRUSTEE INvESTMENT AND fINANCIAL APPRAISAL /CONTINUED


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INTRODUCTION TO TRUST LAW AND ADMINISTRATION

INTRODUCTION TO COMPANY LAW AND ADMINISTRATION

OvERvIEWThis course is aimed at those new to the trust company environment, and covers how trusts originated, trust creation and various types of offshore trusts and their uses. The training is non-legalistic and interactive with practical examples of effective administration and group exercises which bring a practical element to support the theory.

COURSE CONTENT • Definition of a trust • How trusts developed • Review of the main parties to a trust • Who is the settlor? • Ensuring that the settlor has the capacity and legal right to establish a trust • Appointment of a trustee • What are a trustee’s duties and how do they derive their powers? • Who can be a beneficiary and what are their interests and rights? • The three certainties • How are trusts created? • A brief overview of common types of trusts and how they are used offshore • Trust deeds and letter of wishes • The importance of trustee records and meetings

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have an understanding of the beneficiary interests and rights • Be familiar with trustee duties and powers • Appreciate the need for effective trustee meetings and minutes and the

importance of offshore management and control • Be able to apply the knowledge gained to improve their daily working lives

OvERvIEWThis course is aimed at recruits new to the trust and company environment and covers the features, advantages and disadvantages of a company compared to other vehicles. Incorporation and wind-up procedures are covered, with a brief look at the law and recent amendments. The training is non-legalistic and interactive with examples of effective administration and group exercises to bring a practical element to support the theory.

COURSE CONTENT • Definition of a company • The advantages and disadvantages of the company and comparison with

other business entities • Features of a company, highlighting the concept and importance of

separate legal personality • The veil of incorporation and how it may be lifted • How to incorporate and wind up a company • Memorandum and articles and their role as a company’s written

constitution • What is share capital? • Definition of shareholders and their rights • Who can be a director? • Directors’ duties, liabilities and powers • The company secretary and statutory records

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Be familiar with the differences between shareholders and directors and

their respective rights, powers, duties and liabilities, including offshore management and control

• Understand the company secretary’s role and the importance of statutory records

• Be able to apply the knowledge gained to improve their daily working lives


SUITABLE FOR: This course is designed to provide employees with an introduction to the trust environment. Applicable to all new financial sector employees, together with those who have recently transferred into the trust and company environment and who wish to gain a basic knowledge in this area.

COST: £295

DATES: Spring/Summer – 5 April 2012 Autumn/Winter – 8 November 2012


SUITABLE FOR: Applicable to all new financial sector employees as well as those who have transferred into the corporate services environment and wish to gain a basic knowledge of companies and how they operate.

COST: £295


6HOURSCPD

6HOURSCPD

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INTRODUCTION TO fOUNDATIONS

THE EffECTIvE COMPANY SECRETARY

OvERvIEWThis course is designed to provide client-facing employees with an introduction to the concept of a Foundation.

COURSE CONTENT • What is a Foundation? • History and development of Foundations • The modern Foundation • Components of a Foundation • Foundations versus trusts • Foundations versus companies • Why use a Foundation?

– Advantages – Disadvantages

• Vulnerabilities of Foundations • Foundations in Jersey

– Structure of a Jersey Foundation – Parties to a Jersey Foundation – Drivers – Setting up a Jersey Foundation

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have a basic understanding of what a Foundation is, how it fits and

complements other financial vehicles and gain an appreciation of how the Foundation might assist in financial planning for offshore clients

OvERvIEWThe role of the company secretary is vital in a world focussed on enhanced corporate governance standards. This course explains why.

COURSE CONTENTCompAny SeCRetARy AnD tHe BoARD • Relationship with the board • Directors • Functions of the board

CoRpoRAte goveRnAnCe • Aims of corporate governance • Impact of the role of the company

secretary • Importance • History • Principles

meetIngS • Purpose, benefits and problems • Technicalities • Planning and preparation • Minutes and resolutions

ReCoRD keepIng • Statutory requirements • Audit trails • Company secretary’s role in

compliance • Corporate compliance

SHARe RegIStRAtIon • Share Certificates • Transfers • CREST

RegulAtIon oF lISteD CompAnIeS • Public versus private • London Stock Exchange • Insider dealings • Model code

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Comprehend the company secretarial function and the role of the

company secretary within an organisation • Have an understanding of the core duties of a company secretary


SUITABLE FOR: Applicable to all financial sector employees who wish to extend their knowledge in this area. This training is non-legalistic and highly practical.

COST: £155

DATES: Spring/Summer – 11 May 2012


SUITABLE FOR: The course is aimed at those who are looking for an introduction to the role of the company secretary as well as those who are looking to refresh and update their knowledge of the role.

COST: £295

DATES: Spring/Summer – 31 May 2012 Autumn/Winter – 27 September 2012

3HOURSCPD

6HOURSCPD


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ADvANCED TRUST LAW AND ADMINISTRATION

ADvANCED COMPANY LAW AND ADMINISTRATION

OvERvIEWThis course aims to build on fundamental trust principles and law to equip the trust officer/trust manager with a greater understanding of this complex and rapidly developing area of law.

COURSE CONTENTCHAngeS In JeRSey tRuSt lAW • Reservation of power clauses

and impact on management and control issues

• Changes to the law on mistake

tRuSteeS’ DutIeS AnD lIABIlItIeS • Raising the standard • Consequence of finding a breach • Recent developments – Article 9

and case law

InFoRmAtIon to BeneFICIARy • Beneficial principle explained • Impact of Schmidt versus

Rosewood

ConStRuCtIve tRuStS • When a constructive trust is

imposed • Knowing receipt • Knowing assistance • Remedies available

SHAm • What constitutes a sham? • Protective measures to avoid

sham • Consequence of sham • Effect of esteem judgment

eFFeCtIve ADmInIStRAtIon FoR pRoFeSSIonAl tRuSteeS • How to manage relationships with

clients • Creating effective audit trails

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have an increased awareness of the risks of poor administration to settlor,

beneficiary and trustee, and understand strategies to help manage these risks, in particular, to recognise the risk of a constructive trust being imposed and the consequences to the trust company

• Appreciate the development of the offshore trust away from the traditional English law model

OvERvIEWThis course aims to build on fundamental company law principles to equip the delegate with a greater understanding of this complex and rapidly changing area of law.

COURSE CONTENT • Recent changes to Jersey company law • Recent changes to UK company law • Directors’ duties – enhanced duties and liabilities • The influence of corporate governance in Jersey • Alternative corporate entities

– SPVs – PCCs

• Ensuring effective administration • Achieving effective decision making • Management and control issues • Achieving a robust audit trail

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have a comprehensive overview of recent changes in company law both

locally and internationally • Have an increased awareness of the various duties placed upon them as

officers, and access to strategies to assist in minimising risk


SUITABLE FOR: All client-facing staff, managers and directors who are involved in trust and company administration and who are interested in expanding their knowledge in this complex and constantly changing area.

COST: £295



SUITABLE FOR: All client-facing staff, managers and directors who are involved in trust and company administration and who are interested in expanding their knowledge in this complex and constantly changing area.

COST: £295


6HOURSCPD

6HOURSCPD

131



INTRODUCTION TO THE OffSHORE fINANCE INDUSTRY

OvERvIEW

Despite the threats to offshore finance centres, the offshore financial services sector continues to grow. This course examines the legitimate role of offshore finance centres in the 21st century.

COURSE CONTENT • What is ‘offshore’? • History/use/features/trends of offshore centres • Dynamics of offshore centres, companies and corporate services • Directors’ duties offshore and corresponding liabilities • Trusts and trust services • Trustee duties offshore and corresponding or associated liabilities • Other forms of offshore vehicle • Tax principles • Key offshore issues • AML principles • Understanding the role and influence of the regulatory environment both

locally and internationally

LEARNINg OUTCOMESHAvIng AttenDeD tHIS CouRSe, DelegAteS WIll: • Have gained a broad overview of what is ‘offshore’ • Be able to differentiate between tax havens and offshore business centres • Be able to explain different types of entities and products available to

offshore customers • Appreciate the risks facing the offshore industry today


SUITABLE FOR: This course is ideal for anyone seeking an understanding of what is meant by ‘offshore’, such as inductees, secondees to the Channel Islands, staff who are about to change role, or those thinking of starting a career in finance.

COST: £155

DATES: Spring/Summer – 27 February 2012 Autumn/Winter – 13 November 2012

3HOURSCPD


Jersey can no longer compete on tax or price

The battle between Jersey and its key competitor

jurisdictions such as Switzerland, Singapore and

Hong kong will be won or lost according to the skills and

expertise of the Jersey workforce


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IN-COMPANY TRAININg and e-LEARNINgIN-COMPANY TRAININg SOLUTIONS 134

e-LEARNINg ANTI-MONEY LAUNDERINg fOR TRUST AND CORPORATE SERvICE PROvIDERS 136

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JIBS offers the highest quality in-company training solutions to satisfy a diverse range of training needs.Whether your motivation for in-company training is for induction, CPD, policy and procedural support, up-skilling, behavioural change or it is mandated by law, JIBS can deliver a bespoke training solution that will produce the outcomes that you want.

IN-COMPANY TRAININg SOLUTIONS

The JIBS approachJIBS adopts a simple three-stage approach to all in-company training:

Understanding your organisationunderstanding our clients is key. We maintain an offshore industry wide perspective. this allows us to appreciate your organisation’s position in the market, which helps us to deliver relevant, product specific training that helps your staff to perform optimally.

AdvantagesFlexibility is a key advantage. You’re the buyer – why should you be limited to standard open course schedules? In-company solutions give you the flexibility to schedule training that takes account of employee and employer demands.

Our in-company training can be modularised so that it is delivered in bite-sized chunks at times to suit you and your employees. This reduces the need for employees to be out of the office for blocks of time and makes it easier for teams to attend.

Tailor-made is the second key advantage. Your organisation is unique. It deserves training solutions that fit.

Specialist subject areas•Accounting•Anti-moneylaundering•Bookkeeping•Companysecretarial•Compliance•Directors’duties•Employeeshareplanadministration•Financialcrimeprevention•Fundadministration•Governance•Humanfactors•Investmentappraisal•Investmentmanagement•Leadershipandmanagement•Personaleffectiveness•Regulationofinvestments•Riskmanagement•Sanctions•Securities•Tax•Trust&companyadministration•USextra-territoriality

InsightAs you can see from the range of our specialist subjects, we have an industry-wide perspective. We understand your products and services – their strengths, vulnerabilities and risks. Very few training providers have the same degree of industry insight. It’s a strength that guarantees relevance and traction with your employees.

Training needs analysisno training event should be planned without a view to its outcomes. off-the-shelf training solutions rarely deliver the results that you need for groups of employees.

understanding the particular training needs of your organisation through questionnaires, conversations with line managers etc helps us to formulate and deliver training that gains traction with your employees and thus delivers results.

Training deliveryeach in-company training event is unique. Held at a time and place to suit you, all materials are produced and designed for our clients.

JIBS in-company training is characterised by its practicality through the use of case studies, simulations and classroom discussions. All JIBS trainers are current or ex industry practitioners. they understand what your employees need to begin to make a difference in the work place.


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FAQs

Client feedback

1. What do we need?

By talking to you, your line managers and your L&D and HR departments we will be able identify what your training needs are. Once we have agreed on your training needs, and what it is you want to achieve from the training, we will design training with impact that will deliver results.

2. How can we show that we take our employees’ careers seriously?

Staff development and retention is vital to business success in a highly competitive offshore market. By demonstrating that you take the training needs of each of your employees seriously, you will materially increase the rate of staff retention and motivation. The choices you make about the quality of in-company training delivery reflects on you in the eyes of your employees.

3. How can I be sure that the training will be relevant?

Our training is designed ‘top down’, with your outcomes in mind. That helps to keep the training ‘real’. We agree training content with our clients before we deliver; we only employ trainers who are current or ex-industry practitioners; and finally, our training content is case study based. Our collateral enhances the richness of all of our training events.

4. How will I know whether we have got value?

Your employees will tell you. All employees will receive feedback questionnaires that are then analysed. Summaries will be provided to you. Satisfied trainees are only one measure, critical improvements in performance are what count. We are confident that you will see them.

‘Made a dry topic a lot more interesting and accessible’

‘An excellent trainer. It was all useful’

‘Plenty of light bulb moments’

‘Overall A+!’To discuss your training needs

In the first instance, please contact Chris Elliott on +44 (0)1534 816331 or email [email protected].

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for a web-based trial demo, please contact Rainee Rice at [email protected] or telephone 07797 731268


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e-LEARNINg ANTI-MONEY LAUNDERINg fOR TRUST AND CORPORATE SERvICE PROvIDERS

OvERvIEW This programme was updated and upgraded for 2011 and refers to the requirements of the Money Laundering Order and the JFSC Anti-Money Laundering Guidance.

Written by one of the world’s leading risk management practitioners, Stephen Platt, the programme contains practical examples that are relevant to offshore financial services businesses.

The key aim of this programme is to outline the risk-based approach to AML and to introduce you to some of the standard processes and procedures that apply when a firm takes a risk-based approach to customer due diligence (CDD). Useful in both the private and public sectors, the programme offers a blended solution combining more traditional training with the flexibility of e-Learning.

With a testing module and an advanced Learner Management System allowing you full auditability, the programme is a very cost-effective substitute, or excellent complement to, face-to-face anti-money laundering training.

COURSE CONTENT • What is money laundering? Distinguishing

theory from practice • Examination of the enactments relating to

money laundering and terrorist financing • How to risk rate clients • Ascertaining and understanding the rationale

for customer relationships • How to recognise and report suspicious

transactions • Dangers of tipping-off • Exercises • Case studies • Online assessment

kEY fEATURES • Jurisdiction specific (UK, Jersey, Guernsey,

IOM, Luxembourg, Singapore, Hong Kong) • Highly relevant (various industry-specific case

studies) • Full testing functionality • Learner Management System for full

auditability • Cost-effective • Bespoke options available (after consultation)

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e-Learning

www.jerseyibs.com


“The whole of the programme was one of the best I’ve been to. Thank you.”

“An extremely well-constructed and motivational event.”

Delegates commenting on the inaugural JIBS Directors’ Convention, in association with the Jersey Evening Post

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EvENTSCLUB (N)ED 140

7TH ANNUAL COMPLIANCE AND ECONOMIC CRIME SYMPOSIUM 142

JIBS ANNUAL LEADERSHIP fORUM 144

2012 HIgHLIgHTS 146



CLUB (N)EDA NEW CONCEPT IN EXECUTIvE AND NON-EXECUTIvE DIRECTOR SUPPORT

OvERvIEWThe world is now a much tougher place for directors of financial services businesses and the funds and other corporate structures they manage and administer. Boards face a growing array of legal obligations and rising expectations of their performance following the credit crisis and a succession of corporate scandals and failures. It is imperative that all directors bring up-to-date knowledge and skills to their work not only for their own protection, but also to help ensure Jersey retains its premier offshore status.

Club (N)ED has been designed to equip directors in Jersey with the information and expertise they need to ensure that they remain fully effective in the boardroom, as well as technically proficient in compliance with their regulatory obligations. Members will interact with directors from Jersey and elsewhere, thus benefiting from the hard-won experience of others in their peer group.

The format of the events will be interactive rather than talk-and-tell.

kEY fEATURES • Director-specific development and networking

events • Top quality speakers • Informal, interactive format (not talk-and-tell) • An uncompromising commitment to quality

combined with a strong emphasis on value for money

• Relevant, topical and insightful presentations • All your CPD needs in one place • Maximum flexibility – places are

interchangeable between directors of the same organisation

• Strictly limited numbers

WHAT’S INCLUDED? • Attendance at eight exclusive training/

networking events (commencing October 2011 and avoiding Easter and Summer Holidays)

• Attendance at the JIBS Annual Leadership Forum (normal cost £425)

• 50%discountonallJerseyInternationalBusiness School short courses and certificated awareness programmes

• Unlimited use of the Jersey International Business School reference library of over 1,000 publications

• Certificates of attendance

fORMAT • Start time 4pm (except for the December

event which will include lunch and commence at 12.30pm)

• 50-minute presentation followed by a Q&A session

• Each session facilitated by Hans Baerlocher (former MD of UBS) or Philip Taylor (former Senior Partner of PwC)

• All sessions followed by wine, nibbles and networking

• December event to include buffet lunch • Venue: Jersey International Business School

SUBSCRIPTION £645 to include attendance at seven seminars plus the JIBS Annual Leadership Forum. Please note that the price excludes GST.

fACILITORSHANS BAERLOCHER Former managing Director uBS Channel Islands

Hans graduated in History from Zurich University. He was the Regional Treasurer for APAC for Deutsche Bank before moving to Jersey in 1994 to clean up Cantrade. In

January 1998, Hans became the Managing Director of all UBS operations in the Channel Islands following the merger between UBS and SBC. The President of the Jersey Bankers Association between 2001 and 2003, Hans retired from UBS in 2010. He is now a director of Jersey Finance.

PHILIP TAyLOR Former Senior partner pwC Channel Islands

Philip retired as Senior Partner of PwC in the Channel Islands in 2010, having also held the position of Global Head of Quality Assurance. He is now Chairman of the Jersey

International Business School and a Commissioner of the Jersey Financial Services Commission.

In 2011, Philip became a member of the UK Financial Reporting Council’s Accountancy and Actuarial Discipline Board.

JIBS ANNUAL LEADERSHIP fORUM LEADINg CHANgE THROUgH PERILOUS TIMES

22nd November 2011Speakers include Sir Ranulph Fiennes Bt. OBE and Miles Templeman, former Director General of the IoDThe Forum brings together leading speakers from the business sector, the military, sport and politics to examine key issues of contemporary interest to directors in Jersey.

The Forum is a ‘thought leadership’ event without equal in Jersey and features an impressive line up of speakers which also includes Monty Raphael QC, Andrea Robottom and Ian Wright.

The Forum is being organised in association with the Jersey Evening Post.


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22HOURS CPD

CALENDAR Of EvENTSSEMINAR 1 4 oCtoBeR 2011 the regulation of directors by the Jersey Financial Services Commission John Harris Director General, JFSCJohn was appointed as

Director General of the Commission on 6 November 2006 and subsequently joined the Board of Commissioners on 1 March 2007.From 2002 to 2006, John held the position of Director – International Finance in the States of Jersey Chief Minister’s Department, where he had responsibility for all aspects of the government’s policy on the maintenance and enhancement of Jersey’s position as an international finance centre. From 1998 to 2002, he was Chief Executive Officer for NatWest Offshore with responsibility for offices in Jersey, Guernsey, Isle of Man, Gibraltar, Cayman, Bermuda and the Bahamas. In total, he spent 22 years working for NatWest Bank during which time he held management positions in France, Switzerland and Singapore amongst others. John obtained a BA (Hons) at Exeter University and is a fellow of the Chartered Institute of Bankers.

SEMINAR 2 8 DeCemBeR 2011 All you need to know about bribery and corruption, but were afraid to askMonty Raphael QC Peters & PetersMonty Raphael QC is

Special Counsel at Peters & Peters and the UK’s most experienced white-collar crime lawyer. Specialising in corruption, tax delinquency, money laundering and FSA regulatory matters, he is widely regarded as the ‘doyen’ of the UK’s fraud lawyers (Legal 500).

SEMINAR 3 19 JAnuARy 2012 Why regulatory investigations are on the increase and how you can ‘bulletproof’ your organisation Stephen Platt, Principal

Stephen Platt & Associates LLPStephen is a market-leading specialist in financial crime and regulatory matters offshore. He is the principal of Stephen Platt & Associates LLP, a firm specialising in risk management and governance for the financial services industry. Stephen is also an Adjunct Professor at Georgetown University, Washington D.C. and a practising barrister at 23 Essex Street, London. ‘Stephen Platt really knows his stuff in a local and international context’ (Chambers & Partners).

SEMINAR 4 16 FeBRuARy 2012 my life as a neD: the seven deadly sins Martin Bralsford Chairman Stanley GibbonsMartin qualified as a Chartered Accountant in

1970, before obtaining a Masters degree in Economics at the London Business School. He is chairman of Channel Islands-based portfolio management, stockbroking and funds business Collins Stewart (CI) Ltd. Martin was formerly chief executive of C.I. Traders Ltd, the largest corporate employer in the Channel Islands, which was AIM-quoted prior to its takeover by a private equity consortium in July 2007. He was previously chief executive of Le Riche Group Ltd, before its acquisition by C.I.Traders in 2002 and a former Group MD of Premier Brands Ltd. Martin has also served as President of the Jersey Chamber of Commerce and as Chairman of the Training and Employment Partnership in Jersey.

SEMINAR 5 15 mARCH 2012 leading through change Andrea Robottom, MD NoNonsense ConsultingUntil February 2009, Andrea was the Global Head of Organisation Development

for Cadbury plc and a member of the global HR leadership team in which capacity she was responsible for organisational structure and culture globally. Prior to joining Cadbury, Andrea was Vice President HR for PepsiCo Inc’s European Beverages Unit.

SEMINAR 6 17 mAy 2012 Boardroom dynamics: How should independent directors interact with the executive? John Boothman Chairman Jersey Telecom

John was educated at Charterhouse and Trinity College, Oxford. A career banker, he retired in 2002 as managing director of Deutsche Bank International Limited. Since then he has taken on a number of paid and voluntary posts. He is currently non-executive chairman of Jersey Telecom, the principal Channel Islands telecommunications provider, and Aztec Group, a financial services firm. John is a trustee of The Stroke Association and chairman of its Jersey branch.

SEMINAR 7 21 June 2012 Developments in corporate governance & financial reportingIan Wright Former Vice Chairman Financial Reporting

Review PanelAs an ex-London partner in PwC, Ian has considerable experience in the corporate and regulatory spheres covering IPOs, regulatory reports, corporate governance, accounting and valuation. He has also advised on privatisations. His broad international experience has included assignments across a range of sectors, including energy, construction, banking, insurance and investment management.Ian is currently a non-executive panel member for the FRC, London, having previously held the roles of deputy chairman (non-exec) and director of corporate reporting.



susbscribedfully

ENROL FOR 2012-2013 SERIES

Paul Moore, HBOS Whistleblower

The most controversial figure to emerge from the era of the ‘credit crunch’.


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7TH ANNUAL COMPLIANCE AND ECONOMIC CRIME SYMPOSIUM

PROgRAMME

STEPHEN PLATT (CHAIRmAn) pRInCIpAl, StepHen plAtt & ASSoCIAteS llpIntroduction

JOHN HARRIS DIReCtoR geneRAl, JFSCWhat keeps me awake at night

STEPHEN GENTLE pARtneR kIngSley nApleyThe do’s and don’ts of handling an internal investigation

NICk TROy Deputy DIReCtoR Aml unIt, JFSCThe revised AML strategy

PAUL MOORE ex-HeAD oF RegulAtoRy RISk, HBoSLessons from my story

PROFESSOR PETER SOMMER vISItIng pRoFeSSoR At tHe lonDon SCHool oF eConomICS Why data security underpins good compliance

MIkE BOWRON CHIeF oF polICe, StAteS oF JeRSey polICeThe challenge of policing economic crime in Jersey

DAVID DE FERRARS pARtneR tAyloR WeSSIngLessons from the Madoff Fraud

NICOLA HORTON gloBAl HeAD oF SAnCtIonS ContRol BARClAyS BAnk plCAdopting a global approach to sanctions compliance

INTRODUCTIONThe Jersey International Business School’s annual Annual Compliance & Economic Crime Symposium is acknowledged by senior offshore practitioners as an unmissable event for many compliance officers, MLROs, MLCOs, senior managers and directors.

For the first time, the symposium is being run in association with the Jersey Compliance Officers Association, whose support in shaping the conference programme has been extremely valuable.

The symposium features some of the world’s leading practitioners and examines the key topics of interest. It is designed to equip participants with an enhanced awareness of key risks as well as the ‘tools’ needed to achieve effective compliance and to fight financial crime.

The format is interactive, offering opportunity for debate. All speakers will talk for 30 minutes following which they will be interviewed by the conference’s chairman who will also encourage questions from the floor.

The symposium provides a great forum for you to bring your knowledge and insight up to date and gain relevant and cost-effective CPD (7 hours).

We are grateful to Stephen Platt & Associates LLP, KYC360° and the International Compliance Association for their sponsorship of the 2011 symposium.

StepHen plAtt (CHAIRmAn) PRINCIPAL, STEPHEN PLATT & ASSOCIATES LLPStephen is a practising English barrister and an Adjunct Professor at the Graduate School of Law at Georgetown University, Washington D.C. He is widely acknowledged as one of the world’s foremost experts specialising in the regulation of financial services and financial crime in, and through, offshore financial centres. Stephen is frequently engaged in politically sensitive matters involving sanctions, the proceeds of crime and the recovery of the proceeds of political corruption and is highly commended for complex international advisory work, ’offering solutions others failed to see’. Legal 500

pAul mooRe (keynote SpeAkeR) THE HBOS WHISTLEBLOWERPaul Moore is the former Head of Group Regulatory Risk at HBOS and one of the most controversial figures to emerge from the era of the ‘credit crunch’.

In 2007, HBOS was one of the UK’s largest banks with assets of over £660bn, over 74,000 staff and profits before tax of £5.4bn. When the banking crisis hit, HBOS had to be rescued through a forced acquisition by Lloyds Banking Group supported by UK Government capital and liquidity support.

Dubbed in the press as ‘The HBOS Whistleblower’, Paul Moore was the only senior risk and compliance executive in the UK banking sector to speak out publicly in the aftermath of the financial crisis about what he saw from the inside of the bank.

EvENT DETAILS DATE: Wednesday 9 November 2011

VENUE: Hotel de France, Jersey, Channel Islands

TIME: 09.00 to 17.15 (7 hours CPD)


DISCOUNT: 20%forJCOAmembers 10%forICA,STEPandKYC360°members Discounts can not be used in combination

7HOURS CPD

“ Thought provoking, informative and very relevant”



LEADINg THROUgH ADvERSITYSir ranulph FienneS Bt. OBe

‘Worlds greatest living explorer’ guinness Book of Records


© Ian P

arnell

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JIBS ANNUAL LEADERSHIP fORUMLEADINg CHANgE THROUgH PERILOUS TIMES

IN ASSOCIATION WITH THE

LEADERS Of BUSINESSES AND gOvERNMENT IN THE CHANNEL ISLANDS fACE SEvERAL CHALLENgES: • How to respond to the global economic

downturn • The ongoing debate on the role of OFCs in

promoting tax competition • Global pressure for transparency and

information exchange • The emergence of Asian competitor OFCs • The erosion of Jersey’s traditional USPs

Business survival, and the prosperity of the Channel Islands, depends upon the leadership and management skills of senior personnel across all sectors – public and private.

INNOvATIvE fORMATAll speakers will deliver a presentation and be interviewed by Miles Templeman, former Director General of the Institute of Directors.

The format is interactive, offering opportunity for debate.

Leadership skills are of critical importance to the Island’s future prosperity on a global scale. The JIBS Annual Leadership Forum enables delegates to raise their game and fine-tune their skills base through an interactive format with critical analysis of key issues by world leaders.

“...you and your colleagues at JIBS did well to assemble such a high quality panel of speakers”Nicholas g Winsor, CEO, Channel Islands and Isle of man, HSBC Bank International Ltd, commenting on last year’s event

PROgRAMME

mILES TEmPLEmAN (CHAIRmAN) Chairman’s Welcome

ANDREA ROBOTTOm – DIRECTOR, NONONSENSE CONSULTINg Leading through change

DR mALEk LADkI – IT ENTREPRENEUR Stop Changing, Start Innovating

SIR RANULPH fIENNES Bt. OBE – ExPLORER Leading through adversity

JOHN BIRD mBE – fOUNDER AND EDITOR-IN-CHIEf Of THE BIg ISSUE My story and lessons for business leaders

SENATOR PHILIP OzOUf – DEPUTY CHIEf mINISTER & mINISTER fOR TREASURY AND RESOURCES ‘What changes the States of Jersey must make to preserve historic rates of gDP per capita’

STEPHEN PLATT PRINCIPAL, STEPHEN PLATT & ASSOCIATES LLP Leading businesses in an era of ‘black swan’ events

Similar event repeated in guernsey on 23rd November 2011 See www.jerseyibs.com for details

EvENT DETAILS DATE: Tuesday 22nd November 2011

VENUE: Hotel de France, Jersey, Channel Islands

TIME: 09.00 to 17.15


7HOURS CPD



HIgHLIgHTS fOR 2012


FRIDAy 23 MARCH 2012 JIBS ANNUAL HR fORUM

3HOURSCPD

09.30–12.30 followed by lunch Location: Jersey International Business School

Price: £75 (plus GST)

Bookings now being taken email: [email protected]

or phone 816331

keynote SpeAkeR: CARy CoopeR, CBe Distinguished Professor of Organisational Psychology & Health, Lancaster University Management School.

Cary is the author and editor of more than 125 books and is one of Britain’s most quoted business gurus. He is a founding President of the British Academy of Management, a Companion of the CMI one of only five UK Fellows of the (American) Academy of Management, President of the British Association of Counselling and Psychotherapy, and President of RELATE. He has been an adviser to the World Health Organisation, ILO, and EU in the field of occupational health research and wellbeing, and in 2001 was awarded a CBE for his contributions to organisational health and safety.

FRom MAY 2012 CPD PLUS SEMINAR SERIES 2012-2013

16HOURSCPD

Now in its 9th year the CPD Plus Seminar Series is a trusted source of CPD training and updating for industry professionals in Jersey. It brings together experts to deliver digestible, high impact seminars on relevant topics to the finance industry over a 12 month period.

The series comprises of monthly seminars commencing at 4pm, and offers delegates inter-changeable places between employees. Next series to commence in May 2012.

JUNE 2012 PRIvATE WEALTH MANAgEMENT CONfERENCE

7HOURSCPD

Launched in 2011, the conference brings together industry experts to review best practices, examine critical issues, and discuss how wealth managers can continue to understand and meet the complex needs of their global clients. Relevant for all professionals in Trust & Company, Investment, Private Banking and Funds.

FRom SEPTEMBER 2012 CLUB (N)ED 2012-2013

22HOURSCPD

exeCutIve AnD non-exeCutIve DIReCtoR SuppoRt A programme of director-specific development and networking events involving top quality speakers, this programme was launched to much acclaim in 2011. Designed to equip directors in Jersey with the information and expertise they need to ensure that they remain fully effective in the boardroom as well as technically proficient in compliance with their regulatory obligations. Next series to commence in September 2012.

NOvEMBER 2012 8TH ANNUAL COMPLIANCE & ECONOMIC CRIME SYMPOSIUM

7HOURSCPD

This symposium is acknowledged by senior offshore practitioners as an event not to be missed for many Compliance Officers, MLROs, MLCOs, Senior Managers and Directors. Designed to equip participants with enhanced awareness of key risks, as well as the tools needed to achieve effective compliance and to fight financial crime, the event features some of the world’s leading practitioners. Paul Moore, The HBOS Whistleblower, will be providing the keynote speech in 2011.

NOvEMBER 2012 JIBS ANNUAL LEADERSHIP fORUM

7HOURSCPD

From the initial launch of the Directors Convention in 2010, the event focus was redefined in 2011 in response to ongoing economic change. Designed to provide inspiration and direction for today’s high performing leaders, there is an opportunity for delegates to raise their game through critical analysis of key issues. 2011 keynote speakers include Sir Ranulph Fiennes Bt. OBE and John Bird, MBE.

“I ts refreshing to actually enjoy earning CPD”

mailto:[email protected]

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JERSEY INTERNATIONAL BUSINESS SCHOOLTERMS AND CONDITIONS Of BUSINESS

These terms and conditions and the registration form comprise the agreement pursuant to which the Jersey International Business School provides public courses to the customer.

1. DeFInItIonS

1.1 ‘Public courses’ means educational training offered by the Jersey International Business School at locations specified by the Jersey International Business School. These courses include training leading to a recognised professional qualification.1.2 ‘Customer’ means the person, firm or corporation identified as enrolling on a course by way of a relevant written confirmation of enrolment. 1.3 ‘Course Materials’ means any documentation, listings instructions and statements in either machine-readable or printed form.

2. pAyment teRmS

2.1 Full payment or authorisation to invoice an employer must accompany the registration.2.2 Where the Jersey International Business School has received authorisation to invoice the employer, the following payment terms apply:2.2.1 Full payment is due within 14 days from the date of the invoice.2.2.2 Payment is due immediately if booking is made less than 14 days before the course start date.2.2.3 If the Jersey International Business School fails to receive full payment of the invoice by the course start date, the customer may be refused entry to the course.2.2.4 The Jersey International Business School reserve the right to charge late payment interest on any outstandinginvoices,atarateof2.5%abovetheBankof England base rate.2.2.5 The Jersey International Business School reserves the right to recover any reasonable debt collection costs in connection with this Agreement.2.2.6 The employer is liable for all unpaid invoices.2.3 Prices are inclusive of tuition, course materials, and the reasonable use of materials, publications and machines (where applicable) by the customer for the period of the course. The price does not include examination fees, lunch, any travel, accommodation or living expenses which the customer may incur in attending the course.

3. CAnCellAtIon, ReSCHeDulIng oR CHAnge oF A SHoRt CouRSe oR pRogRAmme

3.1 The Jersey International Business School reserves the right to cancel, reschedule, or change the location of a course, if, in the opinion of the Jersey International Business School, such an action is necessary. The Jersey International Business School will notify the customer as soon as the change is made. In such circumstances, the customer has the option to attend the rescheduled course, apply the fees to another course, or to receive a refund or credit note for the course fees paid, but shall not otherwise be entitled to compensation or costs or damages arising from such a cancellation or change.3.2 Subject to availability, provided full payment has been received, and the Jersey International Business School is informed at least 14 working days prior to the course date, it may be possible to transfer to an alternative course date subject, where appropriate, to anadministrationfeeof25%ofthecoursefee.

3.3 Customers may cancel a public course provided that notice is given to Jersey International Business School Ltd prior to the start date of the course. In the case of such cancellations, the following clauses shall apply: 3.3.1 If you cancel your course booking the following will apply:3.3.1.1 More than 28 days prior to start date, no cancellation fee will be payable. 3.3.1.2Lessthan28dayspriortostartdate,50%oftotal course fee will be payable.3.3.1.3Lessthan7dayspriortostartdate,100%oftotal course fee will be payable.3.4 JIBS will accept name changes up to the start of any Certificated Awareness Programme or short course free of charge.

4. IntelleCtuAl pRopeRty

4.1 The Jersey International Business School grants the customer a non-transferable, non-exclusive licence to use Jersey International Business School’s products (including information, training material content, software and data) under the terms of this Agreement. 4.2 This licence terminates upon termination of this Agreement for whatever reason. 4.3 The customer warrants that they shall only use the Jersey International Business School’s products for their own educational purposes and shall not, without the Jersey International Business School’s prior written consent, copy, make available, retransmit, reproduce, sell, disseminate, licence, distribute, publish, broadcast or otherwise circulate the Jersey International Business School’s products (or any part of them) to any person other than in accordance with this Agreement.4.4 The customer shall fully indemnify the Jersey International Business School in respect of any infringement of any intellectual property rights arising as a result of their use of the Jersey International Business School’s products in breach of this Agreement.

5. FoRCe mAJeuRe

5.1 The Jersey International Business School shall not be in breach of these Terms and Conditions if there is any total or partial failure of performance by it of its duties and obligations under this contract occasioned by any act of God, fire, act of government or state, war, civil commotion, insurrection, embargo, prevention from or hindrance from obtaining any raw materials or energy, sickness or other cause beyond its reasonable control.

6. DAtA pRoteCtIon

6.1 Customers agree that, in relation to information held, from time to time, the Jersey International Business School may:6.1.1 Use the information to perform their obligations and enforce rights under these Terms and Conditions of Business.6.1.2 Use the information to inform customers about courses, products or services which may be of interest to them.6.1.3 Use the information to inform customers of feedback and exam results.6.1.4 Communicate with the customer and delegates regarding their progress, results and attendance.

6.2 Customers have the right to receive details of the personal information held by the Jersey International Business School. A fee of £20 will be payable.6.3 In the event that customers do not wish to receive correspondence from the Jersey International Business School, a written request should either be sent to the registered office or emailed to [email protected]

7. CHAnge oF ADDReSS oR otHeR ContACt DetAIlS

7.1 The Jersey International Business School must be notified in writing of any change in a customer’s contact details, including the email address specified on the customer’s registration form.

8. SeCuRIty

8.1 Personal possessions are the sole responsibility of the customer and the Jersey International Business School accepts no responsibility for anything that is lost or stolen from its venues. Customers are advised to keep valuables with them at all times.

9. notICeS

9.1 Any notices required to be served by the Jersey International Business School under this Agreement will be deemed properly served if sent via prepaid postage to the postal address, or emailed to the email address notified by the customer, at the Jersey International Business School’s discretion.

10. lImItAtIon oF lIABIlIty

10.1 The liability for the Jersey International Business School for direct losses arising out of their negligence (other than in respect of liability for death or personal injury), breach of contract or any other cause of action arising out of or in connection with this Agreement shall be limited to the cash receipts from the customer (or employer) for the course or study materials. 10.2 The Jersey International Business School shall not be liable for any indirect or consequential loss whether arising from negligence, breach of contract or otherwise.

11. WARRAnty

11.1 The Jersey International Business School warrants that study materials will be of satisfactory quality, but does not warrant that study materials will be error free. 11.2 The Jersey International Business School Ltd warrants that it will perform any services under this Agreement with reasonable skill and care.11.3 These warranties are provided in lieu of all other warranties express or implied which are hereby excluded to the fullest extent permitted by law.

12. vAlIDIty

12.1 If any provision of this Agreement is held to be invalid or unenforceable by any tribunal of competent jurisdiction, the remaining provisions shall not be affected and shall be carried out as closely as possible according to the original intent.

13. JuRISDICtIon

These Terms & Conditions shall be interpreted, construed and enforced in accordance with Jersey law and shall be subject to the exclusive jurisdiction of the Jersey courts.




‘The PCIAM examination is a demanding assessment, with a broad syllabus. I found the course format, teaching style and facilities at the Jersey International Business School excellent and would recommend it to anyone.’Alex Jeffries, Private Banker, fairbairn Private Bank

JerSeY internatiOnal BuSineSS SChOOl12/13 CALEDONIA PLACE, THE WEIGHBRIDGE,ST. HELIER, JERSEY JE2 3NG, CHANNEL ISLANDS, GBT: +44 (0)1534 816333 F: +44 (0)1534 816334E: [email protected]

www.jerseyibs.com

jibs prospectus 2012

Documents

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