ICT Views

Global banking and markets: 100 trillion reasons for a specific focus

by: (Associate Director, Research and Development) on

I’ll be honest, I’m not even sure how many zeroes there are in 100 trillion. A lot.


Figures tend to vary depending on dates and data sources, but that’s a general estimate on the dollar value of the global banking and markets environment.


And that’s exactly why we have rewritten and relaunched, in collaborationg with the International Compliance Association, the ICA Certificate in Financial Crime Risk in Global Banking and Markets.


Global Enrollment (1)


The Market


Financial market products and services are somewhat different in their nature, scope and complexity when compared to retail products and services. For example, issues of ownership structure, source of funds, source of wealth and cashflows are often more complex in the financial markets world than for other financial products and services.


Financial market products are prevalent in just about all the major financial centres in North America, Europe, the Middle East and Asia Pacific, with a commensurate number of market participants - but there are very few qualifications that focus on the specific needs and skill sets of this community.


With that in mind, the aim of this ICA qualification is to examine financial crime within the context of the complexities of financial market products, services and customers - providing market participants with a greater ability to assess financial crime risk exposure of their customers and the jurisdictions and markets within which they operate.


The Audience


This qualification is designed to improve the understanding for participants across all three lines of defence. It will provide relationship managers, salespersons and operations, as well as risk, compliance and operational risk professionals working in corporate banking and financial markets, with a comprehensive overview of the financial crime risk exposures specific to their business and operating environment.


This will directly improve their ability to fulfil the regulatory and legal requirements around recognising and reporting financial crime, as well as provide insight into how ‘good compliance equals good business’. This is increasingly important in an era of transparency and where reputation plays such a key role.


Customer and Product Focus


The qualification highlights considerations of industry and business type, ownership structures and jurisdictional risks associated with customer relationships, and how these impact financial crime customer risk exposures. The by-product is of course that by gaining a better understanding of the customer risk profile also enables sales and relationship managers to provide better products and services to their customers. A virtuous circle which underpins commercial objectives.


In more specific terms, the qualification provides the following:


  • An overview of Financial Crime Risk from the wholesale banking and markets perspective
  • A review of some of the main customer types encountered – Money Service Business and Hedge Funds, for example - and a consideration of the financial crime risks they may pose
  • An appraisal of some major financial market products including foreign exchange, securities, derivatives - and their susceptibility to financial crime; and
  • A look at the Customer Due Diligence process, its role in the financial crime risk management lifecycle and the importance of each of its constituent elements.


The program is peppered with real life examples, which are used to draw out learning points for the reader. There is also a strong practical focus in terms of ‘what you should do’ to effectively manage financial crime risk.


With a trend towards continued globalisation and with the rise of national funds and new players, this huge market will certainly be a target for those with criminal intent. This new ICA qualification provides you an opportunity to gain new understanding and/or certify your existing knowledge.



Explore the financial crime risks inherent in the financial markets and the many ways in which financial institutions and corporates are exposed to market manipulation, money laundering, sanctions, tax evasion and bribery & corruption. Gain greater competency in identifying and managing the relevant business, financial, legal, regulatory, operational and reputational risk exposures.


Understand the threat and mitigate the risk. Enrol now






Tel: +44 (0)121 362 7534

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