Course Description

THE RATIONALE

This training is designed from legal compliance practitioner’s perspective and it provides a comprehensive overview of the oil and gas statutory and regulatory environment, the role of compliance professionals, their functions and position within the regulatory regime and their relationship with the business and other stakeholders.

In this training course, we examine complexity of issues encountered by the oil and gas industry compliance officers and managers which is a result of the regulatory regime and the increasingly dynamic nature of the oil and gas business and the risk scenarios which arise as a consequence. We introduce, demonstrate and test best practice recommendations for the role of the Legal and Compliance Officer, and the demanding need within oil and gas business to comply with requisite statutory, regulation and best practice.

THE COURSE OBJECTIVES:

By the end of this training, participants will be able to learn:

• Best practice risk management techniques
• The role and responsibilities of the compliance function within oil and gas practice.
• Skills needed to successfully discharge Compliance Officer roles
• The issues to be considered in developing compliance policies and procedures
• Enhanced ability to identify and determine the statutory, legal and compliance requirements within your organization.
• To boost your skills in ensuring that work activities adhere and is compliant with legal frameworks, while seeking to provide an environment which minimizes the risk to all who operate within it.
• A variety of core pieces of legislation which are relevant to the compliance function
• Key risk areas, including money laundering, cybercrime, bribery and corruption, data protection loss and financial services regulation

THE COURSE OUTLINE

The course will cover the following:

MODULE 1: UNDERSTANDING RISK, STATUTORY, LEGAL AND REGULATORY COMPLIANCE

• What is effective legal and regulatory compliance?
• Conduct of oil and gas business
• Prudential compliance
• What are the objectives of compliance?
• What is integrity in the eyes of the regulator?
• Managing regulatory compliance in a dynamic environment
• Regulators and their Power

MODULE 2: UNDERSTANDING THE LEGAL AND REGULATORY ENVIRONMENT

• The need for, and objectives of law and regulation
• Sources of law and regulation
• Prevention of money laundering and financial crime
• Understanding money laundering offences
• Designing an effective reporting system
• Terrorist financing
• The USA PATRIOT Act and US extraterritoriality
• Money laundering and tax evasion
• Financial crime
• Preventing fraud
• Corruption
• Market manipulation/misleading statements, insider dealing, and market abuse

MODULE 3: INDUSTRY KNOWLEDGE AND AWARENESS

• Oil And Gas Business Background
• Codes Of Corporate Governance
• Regulatory Principles
• Overview Of Commercial Laws And Mechanisms Governing Legal Persons And Arrangements
• Regulators
• Products & Services
• The Structural Role & Activities Of The Compliance Officer

MODULE 4: COMPLIANCE IN PRACTICE

• Compliance governance
• Internal and external relationships
• Links between compliance, culture and ethics
• Specific internal compliance control issues
• Risk management
• Key compliance issues
  • Practical considerations
  • Compliance oversight and internal controls

MODULE 5: LEGISLATION OF RELEVANCE TO THE COMPLIANCE FUNCTION: RISK MANAGEMENT

• Understanding where disputes are most likely to arise
• Understanding regulatory risk
• The risk management process: What to remember when designing an effective risk management system
• Opportunities and threats from risk management developments
• Dealing with regulatory issues and enforcement
• Why risk management of legislative breach must be included in compliance framework
• Key risk areas: financial crime and money laundering, cybercrime, bribery and corruption, data protection loss
• Best practice risk management techniques

TARGET AUDIENCE

• Contract Executives and Managers
• Compliance Officers and Employees
• Employees with legal compliance responsibilities job descriptions
• Compliance Managers, Associates and Analysts
• Risk Managers

Delivery Method: Combines lectures, discussions, group exercises and illustrations

Venue:

Fee:

Duration: 1 week

Course Date: March 6th -10th 2023