Compliance and Financial Crime Risks: Analysis and Explanation

CRIM70003 Compliance and Financial Crime Risks: Analysis and Explanation 20 Variable teaching patterns Postgraduate Taught Level 7 Katie Benson Unit coordinator 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 10.0 This module provides students with an advanced grounding in the modes of thinking and analysis required for developing explanatory accounts of the motivations, conditions and factors within businesses that together can lead to financial crime and compliance risks. When companies encounter insider and outsider threats and risks to their business, senior managers need to understand how and why certain individuals pose, or posed, these risks, and how circumstances in the company might have contributed to this. How did opportunities for non-compliance or financial crime arise within the business? How were employees able to conceal their transgressions? Which strategies or policy changes would have prevented this from happening? Academic theories can inform decision-making approaches to dealing with such risks and developing policies and practices that can reduce them in future which can in turn make businesses more robust, efficient and compliant, and in turn protect customers, investors and reputations more broadly.In these terms, this module teaches students about empirically informed theories of (non-) compliance and regulation that will help them to understand risks and violations (what, why and how), the organisational contexts within which opportunities for non-compliance emerge, and actual and potential public and private regulatory and governance responses (risk assessment vs. crime control vs. regulation). The module provides students with a multi-layered, multi-level theoretical tool-kit that can be used to understand i. individual motivations and propensities for engaging in risky practices, ii. how company cultures, structures and policies can inadvertently provide the opportunity, means, setting and rationale for problematic behaviour, and iii. how wider political-economic environments feed into individual decisions to engage in behaviours bad for business. This module provides students with an advanced grounding in the modes of thinking and analysis required for developing explanatory accounts of the motivations, conditions and factors within businesses that together can lead to financial crime and compliance risks. When companies encounter insider and outsider threats and risks to their business, senior managers need to understand how and why certain individuals pose, or posed, these risks, and how circumstances in the company might have contributed to this. How did opportunities for non-compliance or financial crime arise within the business? How were employees able to conceal their transgressions? Which strategies or policy changes would have prevented this from happening? Academic theories can inform decision-making approaches to dealing with such risks and developing policies and practices that can reduce them in future which can in turn make businesses more robust, efficient and compliant, and in turn protect customers, investors and reputations more broadly.In these terms, this module teaches students about empirically informed theories of (non-) compliance and regulation that will help them to understand risks and violations (what, why and how), the organisational contexts within which opportunities for non-compliance emerge, and actual and potential public and private regulatory and governance responses (risk assessment vs. crime control vs. regulation). The module provides students with a multi-layered, multi-level theoretical tool-kit that can be used to understand i. individual motivations and propensities for engaging in risky practices, ii. how company cultures, structures and policies can inadvertently provide the opportunity, means, setting and rationale for problematic behaviour, and iii. how wider political-economic environments feed into individual decisions to engage in behaviours bad for business. The unit aims to provide students with an advanced grounding in the modes of thinking and analysis required for developing explanatory accounts of the motivations, conditions and factors within businesses that together can lead to governance, compliance and financial crime risks. Students will possess a theoretical and conceptual took-kit for determining the most plausible explanations for risk, threats and transgressions inside and outside their business Students will recognise the complexity and multiplex nature of the business world within which regulatory and governance problems, and financial crime risks occur Students will build on their professional knowledge and experience with theory and concepts to make sense of workplace deviance and inform strategy creation and operational policies to make their organisations more efficient, robust and compliant, and in turn protect customers, investors and reputations more broadly (i.e., integrate theory with practice) Students will gain knowledge of how to interact with regulators and enforcement authorities, including information sharing and self-reporting of internal failures Students will learn how to critically assess which theoretical perspectives provide the most plausible explanations for different risks within the business, both old and emerging. This high-level theoretical framing will provide students with knowledge that can be integrated into business policy and practice with a view to reducing, preventing and responding to internal and external threats.Syllabus:Week 1: Introducing Financial Crime (and the Need for Advanced Theory)Week 2: Introducing Compliance: The Governance TurnWeek 3: Proximal Factors: Individual Motivations and Situational Components of Financial Crime and Compliance RisksWeek 4: Distal Factors: Organisational Contexts and Structural ConditionsWeek 5: Consolidation WeekWeek 6: Modes of Analysis I: ‘Scripting’ the Dynamics of Business RiskWeek 7: Modes of Analysis II: ‘Network’ Approaches to Financial Crime and Compliance RisksWeek 8: Case Study I – Globalised Economies and the AML Transnational Legal OrderWeek 9: Case Study II – Business Compliance, Modern Slavery and Associated FinancesWeek 10: Revision Week LEARNING AND TEACHING PROCESSES (INCLUDING THE USE OF E-LEARNING)Online, blended learning on the TNE (Transnational Education) e-learning platform with three optional residential visits to Manchester. Online learning materials will consist of a mixture of video and audio files alongside written text and instructions accompanied by interactive engagement activities and tasks.  0 Other 100% Summative Assessment 1: Case Identification and Justification - 1000 words (worth 25%)<ul><li>You are required to identify a real-life case relating to a financial crime and/or compliance risk, either from your workplace experience or from publicly available sources. You should provide a justification for the choice of case, explaining its importance and relevance to this area and provide an account of what happened, who was involved, and the conditions that were amenable to the event that took place.  Written feedback provided within 15 working days.</li></ul>Summative Assessment 2: Screencast / PowerPoint Presentation with Audio: 20 minutes in length (worth 25%)<ul><li>You are required to record a presentation within which you discuss the nature of the case you chose for summative assessment 1. The presentation should cover how the crime or noncompliant behaviour was organised including who was involved, and how the case was dealt with by the business or regulatory authority. Most significantly, the presentation should utilise theories and explanations from the course to make sense of the case and demonstrate an ability to critical apply key concepts and ideas to real life cases.  Written feedback provided within 15 working days.</li></ul>Summative Assessment 3: Critical Reflection on the Case Analysis - 2000 words (worth 50%)<ul><li>You are required to write a 2000-word reflective paper in which you reflect on the conclusions made in your case analysis, question whether their findings could be beneficial to workplace practice, and suggest alternative ways of interrogating the case if they were to undergo another case analysis.  Written feedback provided within 15 working days.</li></ul>Students will also have the option to submit formative assessments in the form of coursework plans for each of the above assessment components and receive feedback on each of these.  CRIM70003 FCC Online Conditions (Programme 10177) N Levi, M. (2012) ‘Financial Crimes’ in M. Tonry (ed.) The Oxford Handbook of Crime and Public PolicyGottschalk, P. (2010) ‘Categories of Financial Crime’, Journal of Financial Crime, 17(4): 441-458.Parker, C. and Nielsen, V. (2011) Explaining Compliance: Explaining Compliance Business Responses to Regulation.For Information and advice on Link2Lists reading list software, see:<a href="http://www.library.manchester.ac.uk/academicsupport/informationandadviceonlink2listsreadinglistsoftware/">http://www.library.manchester.ac.uk/academicsupport/informationandadviceonlink2listsreadinglistsoftware/</a> 0 0 0