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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Operational Risks to Manage at a Wealth Management Firm I

Operational Risks to Manage at a Wealth Management Firm I

Faisal Sheikh

25 years: Wealth and risk management specialist

In the next video, Faisal dives deeper into the specific operational risks that are particularly relevant to wealth management firms and their clients. 

In the next video, Faisal dives deeper into the specific operational risks that are particularly relevant to wealth management firms and their clients. 

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Operational Risks to Manage at a Wealth Management Firm I

7 mins 42 secs

Overview

Operational risk is by far the biggest risk that wealth management firms and their clients face, purely due to all of the different methods it can impact the business. Risks that are included within operational risk include the likes of fraud, business continuity and conduct risk to name a few. Fraud can be internal or external, typically with the aim of misappropriating client funds. If your place of work becomes uninhabitable, business continuity is essential. And given the general unsophisticated nature of wealth management clients, ensuring your staff follow conduct rules is essential if you want to avoid the possibility of large fines.

Key learning objectives:

  • Outline how fraud, business continuity and conduct risk impact wealth management firms

  • Understand the impact of not monitoring and preventing these risks effectively

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Summary
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Expert
Faisal Sheikh

Faisal Sheikh

Faisal is a wealth management professional has spent almost 30 years working in the field of risk management, risk control, internal auditing in the financial services and public sector. Most recently, Faisal was the Head of Risk for the Wealth Management business of UBS in the UK. He has also extensive international experience across Europe, the Americas, Asia and Africa. He has also a served as CISI operational risk expert panel member.

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