Module Code: H7UCP
Long Title The Credit Union Compliance Programme
Title The Credit Union Compliance Programme
Module Level: LEVEL 7
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator: Stephanie Roe
Module Author: DAVE CORMACK
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Have the ability to assess the key provisions of the relevant legal requirements for Credit Unions
LO2 Have developed a strong knowledge of the components of a Credit Union compliance system
LO3 Demonstrate the ability to develop a compliance policy and plan for a Credit Union
LO4 Be able to work effectively with management, board, and oversight functions to enhance compliance
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
The Credit Union compliance function
• Credit union organisational structure • Board of Directors • Compliance Officer • Manager / CEO • Internal Audit • Board Oversight Committee • Nomination Committee • External Auditor
Key legal requirements for a Credit Union
ROI • Credit Union Acts • Criminal Justice Act • Data Protection Acts • Equal Status Act • Health & Safety Acts • Personal Insolvency Act • Consumer Credit Directive • Payment Services Directive (PSD) • Protected Disclosures Act • Credit Reporting Act 2013 NI • Financial Services Markets Act • Data Protection Act • UK Bribery Act • Proceeds of Crime Act & Money Laundering Regulations
Regulatory requirements for a Credit Union
ROI • Consumer Protection Code • Fitness & Probity Regime • Minimum Competency Code • Standard Rules for Credit Unions • CU Handbook • Central Bank Guidance Notes NI • CREDS
The components of a credit union compliance programme
• Overview of compliance policy • Overview of compliance plan • Compliance monitoring and reporting • Reporting structures • The annual compliance statement • Compliance breaches • Remedial actions • Outsourcing • Training • Transfer of engagements
Compliance policy and plan
• Considerations for developing a compliance policy • Long and short term compliance planning • Considerations for developing a compliance plan • Getting approval from the Board of Directors • Assessing and monitoring compliance
Working to enhance compliance
• Communicating policy and plan to the organisation (getting buy in) • How to effectively communicate and resolve compliance issues within the organisation • Overcoming resistance and enhancing cooperation within the organisation • Considerations when dealing with regulators and other external bodies • Consequences of non-compliance
Assessment Breakdown%
Coursework100.00%

Assessments

Full Time

Coursework
Assessment Type: Practical (0260) % of total: 60
Assessment Date: n/a Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
The group assessment will involve the selection of a piece of legislation/regulation. Students will be required to identify the compliance requirements and risks of the legislation/regulation chosen. They must present the topic in class to a fictional board of directors of a credit union. In addition to the presentation, students must submit a written report on the process. Alternatively students will be asked to assess 50 compliances as an individual.
Assessment Type: Essay % of total: 40
Assessment Date: n/a Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
The individual assessment will be an essay-type question, similar to the following example: “As the Compliance Officer for your credit union, prepare a Compliance Plan for the coming year for the Board of Directors for approval. Ensure that within the plan, you define the compliance universe for your role, provide an overview of the status of compliance within the credit union (taking a risk based approach). Outline the key compliance activities for the coming year”.
No End of Module Assessment
No Workplace Assessment

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Directed Learning No Description 26 Once per semester 2.17
Independent Learning Time No Description 176 Once per semester 14.67
Total Weekly Contact Hours 2.17
 

Module Resources

Recommended Book Resources
  • Bank for International Settlements. (2014), Criteria for identifying simple, transparent and comparable securitisations,.
This module does not have any article/paper resources
Other Resources
Discussion Note: