Course description
Statutory, Legal & Compliance Requirements for Oil & Gas Industry
In this Statutory, Legal and Compliance Requirements for the Oil & Gas Industry training seminar, 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 ever increasing need within oil and gas business to comply with requisite statutory, regulation, and best practice and to ensure that their staff are appropriately trained.
This training seminar 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.
Upcoming start dates
Who should attend?
Who Should Attend
Anyone in a compliance or risk management role within the oil and gas industry: Employees with management responsibility for compliance and any individual who wishes to learn fundamental compliance principles and how oil and gas businesses should be compliant. Compliance Officers and Employees, Risk Managers, Compliance Managers, Associates and Analysts, Contract Executives and Managers, Staff whose job role includes legal compliance responsibilities.
Training content
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
- The Role of the Regulator
- Regulatory Models
- Enforcement
- Regulatory Rules
- The Framework of a Regulator
- The Potential Liability of Regulators
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
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 and Services
The Role of the Compliance Officer
- Compliance Structure
- The Role of the Compliance Officer
- Key Compliance Activities and Processes
- Risk-based Compliance Monitoring
- Investigating Compliance Breaches
- Training
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
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, Cyber-crime, Bribery and Corruption, Data Protection Loss
- Best Practice Risk Management Techniques
Certification / Credits
- The role and responsibilities of the compliance function within oil and gas practice, including the designated Compliance Officer roles, and the skills needed to successfully discharge these
- The issues to be considered in developing compliance policies and procedures
- A variety of core pieces of legislation which are relevant to the compliance function
- Key risk areas, including money laundering, cyber-crime, bribery and corruption, data protection loss and financial services regulation
- Best practice risk management techniques
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Founded in 2006
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Convertas Management Consultants
CONVERTAS offers a series of specialized training services across all areas of business, helping employees develop and increase their skills. Our highly qualified trainers through our specifically designed courses and workshops, as well as our innovative training methodology, will provide...