Why the Risk Based Internal Audit is so important

“For many years Internal Audit considered itself as being solely involved in the controls and processes as they relate to the financial transactions of the firm. Often the internal audit function was considered as part of the review and inspection process in the business. In a way internal auditors often saw themselves and in-house versions of the external variety.

Internal audit did not start out that way. Years ago when I formally studied the subject at university the internal audit ‘bible’ was ‘The Practice of Modern Internal Auditing’ by Lawrence B. Sawer (published by the Institute of Internal Auditors, Inc. originally in 1973). This highly knowledgeable tome of almost 900 pages covered the full ambit of internal auditing in beautiful detail, with dozens of example of checklists and working specimens. These were examples of day-to-day operational risks across all sorts of industries. A small sample ranges from the audit of a highway transport department (covering equipment maintenance, vehicle dispatching, fuel, parts and repair services and general administration) to control and compliance over a range of branches at a major bank. I could go on-and-on, but I guess that you get the picture.”

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Don’t forget that we are running a RISK BASED INTERNAL AUDIT Training course in Athens on 2/3 September 2014 (details at http://citadeladvantage.blogspot.co.il/p/risk-based-internal-auditing-rbia.html ) and the same course through EUREKA FINANCIAL in London on 3/4 December 2014 (details at http://www.eurekafinancial.com/courses/risk_based_internal_audit.html )

“Managing Operations Risk “ Training Course in Hong Kong

If you are in or in close proximity to Hong Kong, why not join us there on 26 & 27 August 2013 for our two-day intensive course on Operations Risk Management & Mitigation – from assessment to implementation?

This course provides a complete structured package for learning in all main aspects of the subject of Operational Risk. It will enable participants to prepare and manage the planning and implementation of operational risk management processes in their bank/ financial institution or firm.

For more details about this practical hands-on approach to managing operational risk please visit

http://citadeladvantage.blogspot.co.il/p/managing-operational-risk-under-basel_9.html


You can also request a full course brochure by clicking HERE

The Benefits of In-House Training

Citadel Advantage Training provides tailored training solutions delivered at a location of your choice. Using the combination of the experience of our conference and course trainers and the specific needs of your organisation, we can deliver a cost effective training solution in a format which best meets your organisational goals.

By using our In-House training, you will benefit from the expertise and knowledge that is associated with Citadel Advantage gained over many years of hands-on in--the-field experience. Whether it is one-to-one coaching or group training for a small team or an entire department, Citadel Advantage In-House Training will provide you with a development programme to meet your business objectives.

Citadel Advantage offers a wide and comprehensive range of professional courses and training for commercial and central banks in the three core areas of operational risk management,, payment systems and operations/back office management.

Examine our wide range of course offerings at http://www.citadeladvantage.com/catalog.htm

Benefits of In-house Training include:

A tailored solution to fit around your organisational needs

• Our product offering ranges from our off the shelf conferences or courses to creating a a specific training solution to meet your organisations exact needs. 

Experienced trainers with in-depth knowledge

• Our small team of trainers are professionals who are not only experts in their field but also have extensive in-depth business-specific knowledge, with exceptional ability to communicate this to participants.
• Our trainers have a long standing track record of delivering outstanding training programs in the UK, USA, Europe, Africa, China, Dubai, Singapore, & Hong Kong

Better working practices and improved internal communications

• When training at a team level, your staff achieve more than just training on the course subject area.
• In-house training allows the team to interact in a positive way with co-workers at a peer level as well as management providing added organisational benefits.

Reduced costs

• Save money on costs associated with expensive air- travel to training venues, hotel accommodation, meals and time out of the office.

In-depth evaluation

• Extensive feedback package following the training, with contributions from the facilitator as well as the participants.

To discuss your organisations training needs please contact Mr. Richard Barr

• by telephone:

    Asia Pacific: +852 8175 7916
    Europe: +44 20 7193 5913
    North America: +1 408 627 7607

• or by e-mail: at richard@citadeladvantage.com

• or on-line:  CLICK HERE to indicate your interests and we will get back to you.

Public Course Schedule for remainder of 2012

We have just published our updated course schedule for the 3rd and 4th quarters of 2012. Check out what is on offer by clicking HERE.

In- House Training

June has already dawned on us – 2012 is almost half gone. Before we know it the summer vacations will be here (for those in the Northern Hemisphere). For those in Southern parts, mid-year is that tipping point that begins the count-down to the Year End holidays.

I have a simple question for you. Are you going to achieve your Staff Training targets for 2012?

One of the most effective ways to do this is through In-House Training. In-House Training provides the most cost effective vehicle for maximizing your training budgets and your training reach. It is, all said and done, the cheapest way to get the most staff trained for the least dollar spend. For details and costing of how much you can save, please read our blog post "Road Trip or Staying Put? Why training in-house makes sense".

Citadel Advantage provides a comprehensive range of training courses covering the various aspects of Operations Risk Management and Compliance for commercial and central banks, as well as bank Payment Systems and all associated Back Office operations activities.

In-house courses and workshops can be customized to ensure that they meet your unique needs. Our courses are aimed at helping you cope with the many challenges you face.

Your staff is your greatest asset. In-house training allows you to minimize costs while increasing its effectiveness and impact on your staff. If you thought in-house training was just for the other guy or that your institution was too small, think again! We'll come to you, wherever and whenever you need.

Your team needs training. Why not hold a private course? You will find that our programs exceptionally cost effective - and what could be more important in these financial times. In-house training makes more than common sense, it makes economic sense.

All our public courses are available as in-house courses. For a full range of what we offer please see our course catalog by clicking HERE.

We are also able to tailor our courses to your company's / bank's specific requirements. We'll work with you to develop either a one-time or a long-term training program.

For a detailed needs analysis and quotation, please call our Principal Associate Richard Barr on;

• Asia Pacific: +852 8175 7916

• Europe: +44 20 7193 5913

• North America: +1 408 627 7607

OR e-mail him at: richard@citadeladvantage.com

Training Courses for Q1 & Q2 2010

Citadel Advantage's scheduled training courses for Q1 & Q2, 2010 are now available to view or to download as a PDF for handy reference.

Citadel Advantage Course Schedule Q1 & Q2 2010

View more documents from Stanley Epstein.

Bank Training – Critical Element for Today’s Banker

Banking has changed dramatically in the past decade. These changes have been so far reaching that the old disciplines that were core to the successful banker of the 1990s have long since relegated to the dusty back shelf.

To succeed in banking today the banker has to master a wide range of new disciplines. Although he may never become a true expert in these he or she still needs to have a sufficient working knowledge of the subject to enable a reasonable level of effective decision making.

This is equally true for bankers at the “coal face” such as those at the front desk or in the back office as well as those in the more lofty towers of head office, be they in accounting, audit, strategy, planning, operations or the like.

This is why staff training is so very critical. Bankers today need to understand the wider world, whether it is the operation of payment systems, credit cards, real time gross settlement, Swift, ACH operations, electronic payments, mobile payments and so on.

They also need to have a clear understanding of where banking and bank operations are heading – what is done today and how it will be done tomorrow. Technology continues to change the world. To keep up with these changes, to exploit them to your organizations benefit you first need to understand them. Just look at how the Mobile Phone is redrawing the banking world. New applications and processes for the Mobile Phone are being developed and launched by the day.

Of course all these changes also bring with them new dangers and risks – ways in which the ever vigilant banker and his staff may be duped. So an investment in Operational Risk Management training is also critical. What is operational risk? How it can be mitigated? What is fraud and how do you manage it? What is Business Continuity and how do you set it up? All these are key issues that the modern banker needs to know about.

Citadel Advantage offers a wide & comprehensive range of professional courses and training for commercial and central banks in the areas of; Operational Risk Management (for Basel II and for back-office risk mitigation), Specific Operational Risk Management areas including Business Continuity Planning, Anti Money Laundering & Payment Systems, and Liquidity Management.

We also offer a range of Workshops and Introductory Lectures dealing with the main areas covered in our full courses. If you can't find the exact course in our schedule that you are looking for, contact us. We may be able to build a course for your specific needs. Professional courses and training are available at a centralized venue, regionally (currently in Southern Africa & Western Europe), or In-house on your premises.

We use real-life case studies to illustrate the course material, so enhancing the learning process.
Our training courses are offered as:

• Public Courses: Citadel Advantage provide courses and lecturers to the key banking and risk training organizations around the world as well as in its own name. Ask your local or regional provider of banking and risk training courses for a Citadel Advantage course.
• In-house Courses (at your location or offsite at a location of your choice): Citadel Advantage provides cost-effective in-house training programs that allow you to determine the, depth, attendee size, length and sequence of the training within the security of your own organization. If you have 5 or more people to train our In-House training service will save you money. All Citadel Advantage courses can be run on your premises anywhere around the world.
• Tailored Courses (to meet your organization's specific needs): Citadel Advantage also provides tailored training services to the banking and financial sector. We can tailor any course to your needs or develop a new course within a relatively short period of time as required.
• CAPMen Program (the “Citadel Advantage Personal Mentoring” program): This service is designed to provide non-judgmental and professional support to those (Mentee) in senior management or aiming to reach senior management positions requiring an in-depth competency in the areas “Payments & Settlements” and “Operations Risk Management”. “CAPMen” Mentoring utilizes the full range of our experience and specialized professional courses to provide coaching, guidance and advice on a one-to-one basis, in your offices, helping you, the professional, set new goals, broaden your vision and build strategies. “CAPMen” mentoring also helps develop personal management skills such as creative thinking, decision-making, problem-solving, and effective use of resources.
  
• For details of our current course offerings please see; http://www.citadeladvantage.com/schedule.htm
  Our full course catalogue may be viewed at; http://www.citadeladvantage.com/catalog.htm

Personal Mentoring

Training courses can usually only go only part of the way in developing ones professional skills. Added to this is the fact that very often the training course chosen is only an approximate fit. It usually covers only 70% or 80% of the trainee’s needs. Personal mentoring is one way to overcome this sort of problem. It provides a much greater degree of training, geared to the individuals own professional and job requirements.

To cater for this Citadel Advantage, recently launched its newly developed CAPMen Program (very sophisticated sounding, but simply standing for the “Citadel Advantage Personal Mentoring” Program).

This program is a new service designed specifically to provide non-judgmental and professional support to those in senior management or aiming to reach senior management positions who need an in-depth competency in the areas of “Payments & Settlements” and “Operations Risk Management”.

The “CAPMen” program offers a depth of “Payments & Settlements” and “Operations Risk Management” experience and an insightful approach to the challenges of industry practices, allowing senior and other staff to develop their professional skills and knowledge for the benefit of banks and other institution as they moves into the future.

“CAPMen” Mentoring utilizes the full range of Citadel Advantage’s experience and its specialized professional courses to provide coaching, guidance and advice on a one-to-one basis, assisting the professional, set new goals, broaden their vision and build new strategies. “CAPMen” mentoring also helps develop personal management skills such as creative thinking, decision-making, problem-solving, and effective use of resources.

The CAPMen Program is available in a series of different levels – Blue, Silver and Gold. These level allow for an increasing mixture of personal training, mentoring and additional consultations and allow the selection of the option that is the most suitable for specific banks.

For more information you can contact me at stanley@citadeladvantage.com