The best response to relentless change is business adaptability. Being able to adapt at pace to changing circumstances, developing personal resilience and a growth mindset are essential to succeed in this fast-changing world. This module covers some tools and techniques to help achieve this goal.

The Alternative Investment Fund Managers Directive introduces a harmonised regulatory and supervisory framework which affects alternative investment funds and alternative investment fund managers that operate and market in the European Union, but do not come under the Undertakings for Collective Investment in Transferable Securities regime.

It is one thing knowing about the financial planning process, but another thing entirely to implement it in your business. The aim of this module is to help you apply the financial planning process and principles when creating a financial plan for a client. The introduction of the new Consumer Duty by the FCA also means planners have to proactively assess and evidence the extent to which and how they deliver good consumer outcomes – this includes ensuring their advice services meets the needs, characteristics and objectives of clients in their identified target market. A detailed understanding of the Consumer Duty is outside the scope of this module so students who wish to understand more can review the relevant module.

An automated trading system is a computer program allowing traders to set predefined rules for entering and exiting trades. The aim of automated trading is to limit the amount of manual intervention from the trader. This module explores what an automated trading system is, the way the London Stock Exchange (LSE) can use automated trading systems, as well as the common types of automated trades.

Blockchain technology has grown rapidly over the past few years, in part fuelled by an explosion of innovative thinking in areas in which it could be used. This module describes blockchains and investigates its value drivers and the potential areas of impact on the financial markets.

This module examines the key details and potential ramifications of the Spring Budget 2023.

Most companies have insurance in place, but they also need to take into account their most important assets – the people that contribute most to the success of the business. To this end, business protection packages have been developed which are made up of life insurance and critical illness cover policies, and hence provide for continuity and succession planning. This module covers the specifics of key person insurance and shareholder and partnership protection as well as providing an outline of how such policies are regulated. Although many of the concepts will be similar in other countries, the module is based on the legal and tax position of business protection policies in the UK.

Inevitably, change affects every workplace. Our challenge is to make it work to our advantage. Throughout this module, we will explore change in all its forms and examine the tools you can use to meet it head-on.

Everyone needs a coach. We all need someone to teach, inspire and motivate us, and to give us practical and honest feedback – that is how we improve. This module examines what coaching is, the process involved, and the importance of creating a coaching culture within your firm.

The Common Reporting Standard (CRS) is an international requirement for the automatic exchange of tax information, the aim of which is to standardise cross-jurisdictional reporting on tax matters. The CRS requires financial institutions to report details of their account holders to their central tax authority on an annual basis. This module provides an understanding of the CRS, its implementation timeline, and the associated reporting, compliance and due diligence requirements.

The FCA’s Consumer Duty is a significant shift, both for firms and for the regulator itself. It will provide a fairer basis for competition and the flexibility of an outcomes-focused, rather than prescriptive, approach. The Consumer Duty is described as the cornerstone in the FCA's strategy of setting higher standards of consumer protection in retail financial markets. It will place the onus on firms to proactively assess and evidence the extent to which and how they deliver good consumer outcomes. This module examines the scope, obligations and outcomes of the Consumer Duty.

Financial services is a regulated industry in most parts of the world. When firms wish to conduct business outside of their own borders, they will inevitably find themselves subject to the local regulatory environment. When it was a member of the EU, the UK’s financial services industry was able to conduct business in other parts of the EU by having their FCA-authorised business passported into other EU countries. Similarly, EU firms have been able to passport their services into the UK. However, since Brexit, passporting between the UK and EEA states is no longer permitted. Non-EU business has always been subject to the limitations of doing business across borders, often with much lighter regulation. This module aims to provide an introduction to cross-border business and the limitations of not being locally regulated.

Cryptocurrencies exist as both an intangible and, in some cases, unbacked source of wealth and a minable finite asset, the full potential and risks of which remain to be seen. In this module, we explore what a cryptocurrency is, how, and if they can be adequately regulated, the way they are traded and what role they might play in the future.

Privacy is a long-established and fundamental human right. This module sets out what organisations in Cyprus need to do to protect the personal information they hold under the General Data Protection Regulation and examines how the Regulation provides individuals with powerful rights in respect of their personal information.

The Markets in Financial Instruments Directive (MiFID) was a European Union (EU) legislative act which provided a harmonised regulatory regime for investment services across the member states of the European Economic Area (EEA). MiFID II expands on MiFID and will include investment firms and credit institutions selling structured deposits and emission allowances. This module explores the origins and history of MiFID II, the organisations and products covered, its impact on Cyprus Investment Firm authorisation and recurring requirements, as well as protections and implementation.

Risk can occur due to external events such as the global economy, political events, social and market forces, natural events, and technological progress, or due to internal events such as the board of directors, institutional investors, and customers, or from a firm’s internal operational, compliance and financial arrangements. This module provides an understanding of, inter alia, risk, the key risk categories, risk in financial services and how it is managed, risk limits, and guidelines issued by the Cyprus Securities & Exchange Commission (CySEC) applicable to Cyprus investment firms (CIFs) under its supervision.

The ability to affordably store and access large quantities of data has only become possible in the past couple of decades. This has coincided with a huge increase in the amount of data society generates – but how should it be analysed in order to draw useful conclusions? This is where data analytics comes in, using sophisticated statistical and mathematical techniques, powerful computers and extremely large datasets. This module examines what data analytics is and how it is used, the main types and techniques and how it differs from traditional research.

The modern world is dominated by technology. The internet transformed how people communicate and access information. Underlying nearly all our daily activities is data. Everything we read, watch or hear in a digital format represents a type of data, although we may not envision it as such. Even if our jobs do not require us to handle data or carry out heavy computational tasks, working in a modern organisation, whether it is for-profit or not, will almost inevitably mean that we must quantify and evaluate information in a digital format. The goal of this module is to explain why being data literate is important and to provide a basic set of tools for understanding the data-dependent world that we currently live in.

The digitalisation of business operations has accelerated the speed with which data is being captured. This has made it necessary for firms to harness the value of vast amounts of data. This is where data science comes in. In this module, we will explore the role of data science in the financial services sector and beyond.

The financial services sector has always been a data-intensive industry, and the rise of big data presents challenges to financial institutions as to how they collect, store, use, interpret and monetise this information. In this module, we will look at the impact of big data across business lines, from asset management and securities trading, to payments, consumer credit, insurance and much more. We will also examine privacy concerns, and the regulations to address them.

In this module, we will explore the revolution in saving, borrowing and making payments which has occurred in the last two decades, as well as the broad categories of platforms and their uses. We will look at some of the players who have introduced important innovations or become dominant in the rapidly evolving space of digital and mobile banking.

Successful business models and the workplace are constantly evolving, but the pace of change is increasing. In 2020, following the coronavirus (COVID-19) crisis, many of the trends which had been relatively latent became the dominant means for companies to operate. These included going from working in a traditional ‘bricks-and-mortar’ office and holding meetings in boardrooms to operating in a nearly fully virtual setting. This module will examine how firms successfully undergo the transformation to technology-enabled businesses and convert to, and manage, a workforce that is more flexible, productive, and potentially distributed around the globe.

Being able to continue operating your business following a major event or a disaster, such as an act of terrorism or of nature, or even after just a significant upheaval, such as software failure or a utility outage, is a key concern for most financial services firms, and regulators. The COVID-19 pandemic has shown how quickly the operational landscape can change and it has greatly challenged firms. This module provides an introduction to disaster recovery, and related concepts such as business continuity and operational resilience. It also outlines the key components of robust plans that are needed for organisations to remain operational following events that could significantly disrupt the flow of business.

The European Securities and Markets Authority (ESMA) Knowledge and Competence Guidelines are regulatory guidelines that outline the knowledge and skills that staff providing investment advice must possess to provide suitable advice to their clients, and were established to promote greater investor protection. The Guidelines promote greater convergence in the knowledge and competence of staff providing investment advice or information about financial instruments, structured deposits, investment services or ancillary services to clients, and allow competent authorities to assess the adequacy of the compliance with such requirements. Their issuance has also contributed significantly to the implementation of MiFID II. This module will focus on the key elements of the Guidelines with explanation, interpretation and case studies.

The Financial Conduct Authority (FCA) has wide-ranging powers to impose financial, and other, penalties on both firms and individuals. This module provides an overview of the FCA’s approach to enforcement. It reviews a selection of recent enforcement cases, and draws out the principal lessons which can be learnt from these cases.

Financial planning plays a significant role in helping individuals get the most out of their money. This module is intended as an introduction to the principles of financial planning. It provides an overview of the financial planning process, key pieces of terminology relating to the process and the regulatory framework which governs it.

This module is intended to guide making assumptions as part of the financial planning process. It aims to show why assumptions are important, outline the key range that may need to be included in a financial plan, and suggest certain methods by which a financial planner could decide on the value to use for each one. The purpose of this module is not to state what the actual assumptions should be but, rather, to suggest a reliable methodology for choosing them.

When creating financial plans for clients, cashflow planning often needs to take place to give an overall view of their circumstances and future aspirations. It is an important component in establishing whether clients can afford to achieve all of their objectives as they arise, given their risk appetite. This module examines cashflow modelling, the key aspects of the process, areas of advice where it is used, and its drawbacks and benefits.

When creating financial plans for clients, it is important to understand the purpose of personal financial statements: client net worth, tax, and cashflow/income and expenditure. This module examines how to create and calculate these statements for clients and mitigate any tax consequences of the advice that is given in the financial plan.

Protection is essential because it offers not only tangible benefits in the form of a potential financial payout, but also intangible benefits, such as peace of mind and a feeling of financial security. Putting the right personal risk management strategy in place can help make sure you get the protection that works best for you. This module will outline the importance and methods of creating a strategy, as well as the key types and features of policies.

This module considers the type of trade-offs that people might make in their everyday lives, how they relate to client objectives and needs, and how they may be required in various financial planning scenarios. It will also examine the options available when client objectives are not achievable.

A financial risk can be described as an element of uncertainty affecting financial decisions or actions that, should it materialise, poses a threat of loss to some degree. The exposure to a risk is determined by the probability of a risk event materialising and the magnitude of any associated financial loss. This module provides an understanding of financial risk, the key risk categories, risk in the financial services and how it’s managed, risk appetite, fraud and theft, information security, and business continuity.

The emergence of FinTech marked a convergence of technology and the finance sector. From its nascent origins in the aftermath of the Global Financial Crisis of 2007-2008, FinTech gradually evolved into greater maturity, with some successful start-ups becoming listed companies themselves. The module examines the evolution of the FinTech sector into its current form, and poses questions about its challenges ahead in the future.

This module will explore applying regulatory compliance to Fintech. It will examine the main risks and issues and offer some best practice approaches that can be applied when developing or implementing new technology.

The foreign exchange market is where all the world's currencies trade. It is both the largest and most liquid market, with an average daily trading volume of $6.6 trillion. This module provides an overview of the foreign exchange market, including some of the principal concepts and terminology used. It also introduces some of the most important trading techniques and how businesses use foreign exchange to manage risk.

Fraud has a devastating impact on economies, companies and people on a global scale. All organisations are subject to fraud and must, therefore, undertake measures to protect themselves. In this module, we will explore the basics of fraud risk, its global impact, and the measures organisations can take to protect themselves.

Fund governance is the high-level set of principles and guidelines by which a collective investment scheme should be managed or operated. This module explores the industry landscape, liquidity and product management, global regulatory frameworks and the implications for operational resilience.

This module sets out what organisations need to do to protect the personal information they hold under the UK General Data Protection (UK GDPR) and examines how the UK GDPR provides individuals with powerful rights in respect of their personal information held by organisations.

As understanding of the importance of tackling climate change has risen, as well as greater awareness of a range of environmental issues. Thus, ethical, responsible and sustainable investing has grown in importance and popularity in recent years. Green bonds and asset-backed securities offer an alternative for investors concerned with the environmental impact of how their money is used. This module will explore the various types of bonds and securities available, as well as their benefits and risks.

Greenwashing is the practice of exaggerating the environmental benefits of a company’s activities. While greenwashing can create a temporary benefit for companies involved in the practice – such as an improved reputation, or even greater profits – ultimately, it deceives consumers, and could even end up causing environmental harm. This module examines what greenwashing is, why it is a concern, some of the ways to identify organisations that are greenwashing, and the ways in which it can be prevented.

In a period of digital acceleration, this module explores the dramatic impact of hybrid working on the financial services industry during and after the coronavirus (COVID-19) pandemic. It examines the ongoing implications for employees, clients, and careers, and provides practical advice on how you can thrive as a hybrid worker.

This module examines what financial planning is, and the impact that political and economic factors, regulations, ethical considerations and innovations have on it.

Imposter syndrome is a psychological condition where someone doubts their own abilities, attributing their success to luck, or other external factors, so creating a persistent fear of being exposed as a ‘fraud’. This module explores the reasons for imposter syndrome, the effect it has on individuals, and strategies for coping with it.

Influence is the process whereby one person modifies the attitudes or behaviour of another person. Therefore, at its most basic level, it is simply about changing someone’s behaviour. The ability to influence others, however, is clearly an essential life skill that anyone who wishes to thrive and succeed must master. This module explores the background and definition of soft skills, key leadership skills, methods of exerting influence, influencing teams and common influencing skills.

The Insurance Distribution Directive (IDD) sets regulatory requirements for firms designing and selling insurance or re-insurance products. This module examines what the IDD covers, why it was introduced and how it relates to everyday business. It also explores the key requirements for insurance distributors, the specific knowledge and ability requirements, the in-scope products and people, and what is required to comply with the IDD in practical terms. It also covers the impact on the IDD of the UK’s departure from the European Union ('Brexit'), including the effect on cross-border insurance business.

The focus of this module is on compliance within the UK financial services regulatory system. However, it is recognised that, for large financial institutions operating in multiple jurisdictions and markets in particular, the outlook for financial services compliance is global and, as such, multi-layered and complex. Accordingly, for readers not based in the UK, the core compliance concepts outlined in this module are relevant irrespective of jurisdiction and can be applied equally by firms operating in the UK or elsewhere.

There is no single definition of corporate finance, but in its broadest sense, it relates to the transactions and activities, management and techniques associated with allocating capital, such as funding new businesses or ventures, and the investment, acquisition and divestment of businesses or assets and the management of cash. This module expands on some of the various tools, techniques and related subject matter associated with the subject.

Financial planning helps individuals realise their life goals. It looks at all the elements of a person’s finances, then comes up with a plan to help them make informed decisions about their future. This module is an introduction to the subject, covering the key aspects of the six-step process, the role of the financial planner, client attitudes to risk and the impact of technology.

Financial Services are the lifeblood of any modern economy and allow domestic and international financial activities to be carried out with security and confidence. This module will serve as an introduction to the key concepts of financial services around the world and outline how they are regulated, what the future might hold for them, and more.

This module examines how and why it is important for firms to gather customer data, the process involved in developing, implementing and reviewing portfolios, how environmental, social and governance (ESG) and ethical issues can be incorporated into an investment strategy, and the ways in which portfolios can be evaluated.

Software development refers to a set of activities dedicated to the process of designing, creating, testing and maintaining computer programs and applications. This module will help you build a strong foundational knowledge of what software development involves.

This module provides an overview of the Kenya capital markets and an in-depth understanding of collective investment schemes (CISs) and real estate investment trusts (REITs). Readers will also gain insights into the CIS and REIT regulatory environment and the principles of asset management. Other key areas covered by the module are Islamic CISs/REITs, exchange-traded funds and investor education.

The derivatives market involves the trading of futures, options, swaps and commodity futures. This module provides an overview of the Kenyan economy, with a specific focus on the derivatives market. It discusses the risks related to trading in derivatives and details the approaches for mitigating them. The module expounds on the Kenyan derivatives regulatory framework and elaborates the various applicable regulations. It also highlights the crucial role of the Nairobi Securities Exchange.

Know your client (KYC) and client suitability are pivotal concepts at the heart of financial services, and they play a crucial role in ensuring that firms meet regulatory obligations and protect both clients and investment advisers. This module gives a detailed and foundational understanding of the KYC and client suitability concepts. It discusses suitability obligations and objectives, client suitability assessment, client categorisation and product classification, and it analyses the inherent risks associated with failure in KYC and client suitability. The module incorporates some content from Europe, United States of America (USA) and International Organization of Securities Commissions (IOSCO) to provide an international context that is intended to elevate user understanding of the cardinal concepts.

Financial risks are exposures to uncertainty created by internal or external factors that have the potential to cause a negative financial position or loss without proper controls or monitor ing. Internal factors are specific to an organisation, such as balance sheet composition, trading strategy or product offerings. External factors are those that act outside of a firm’s influence, for example market and price volatility, client behaviour and regulatory change. The impact of these factors is managed by a firm’s dedicated risk management function, through governance, controls and oversight. Investors in the financial services sector need to take financial risk in order to generate revenue and to remain competitive. Problems arise when decisions around investment activities are made without the impact being fully understood, often resulting in severe losses and reputational damage.

Know your customer (KYC) is the process by which a firm gains sufficient knowledge of a customer to meet its regulatory obligations. This module provides an overview of the KYC process. While some of the specific examples are drawn from the UK, the main content of the module reflects international standards and best practice (in particular, the recommendations issued by the Financial Action Task Force (FATF)), and it outlines the principal elements of the KYC process, while recognising that most firms will have their own internal policies which will set out the specific steps that must be undertaken.

Digitalisation is the use of digital technologies to change business models and provide new revenue and value-producing opportunities. In this module, we will see why leadership is foundational to successful digitalisation in financial services. We will explore the differences between traditional and evolving leadership, the role of leadership in determining a digital strategy and identify the key areas of benefit and cost.

Machine learning (ML) – a subset of artificial intelligence (AI) – has implications for almost every facet of public life, including finance and the financial sector. It can manifest and be applied in a multitude of ways This module will explore the basic concepts of ML, as well as what it might mean for the future.

For the first time in history, the composition of our workforces is truly multi-generational and there are now five generations represented, each with its own talents and skill sets. The challenge for management is not only how to manage the very diverse skill sets, but also how to align them so that their skills and expertise are fully unitised and blended into the operations of the company.

This module explains the strategic, human and operational factors that can create conflict in a financial services business, and outlines approaches to resolve them. It shows how building a supportive, diverse and inclusive culture can turn conflict into creativity and drive superior results.

The potential for conflict is all around us – in relationships, the workplace, in social environments and in almost any human interaction. Personal conflicts can lead to broken relationships, the threat of legal action and the risk of verbal attacks or worse. Understanding the root causes of conflict, how to de-escalate challenging situations and resolve disputes effectively are, therefore, essential life skills. This module introduces some key concepts and techniques to help you achieve this.

Financial institutions and global regulators are having to pay greater attention to identifying, measuring, monitoring and managing risks within the financial system. Operational risk is the risk of loss resulting from inadequate or failed processes, people and systems or from external events. This module explores the main types of operational risk, how they can be mitigated, and the hazards that organisations might face in the future.

Managing human performance is the key to success in any financial services firm and in developing an ethical and enduring corporate culture. This module demonstrates the importance of both effective goal setting and developing a robust coaching culture that aligns behaviours with objectives.

Funding further or higher education can be as challenging and fraught as graduating. With so many options, sources of support and potential pitfalls out there, and the possibility of living with sizeable debt well into working life, making informed decisions before, during and after your time as a student is essential. In this module, we will explore the challenges that students and their families might face, what help is available, and how to avoid worst-case scenarios.

Good mental health has an impact on a person’s physical health and many other aspects of their life. Mental health fluctuates over time, and there are many factors that impact our sense of wellbeing. This module will examine ways in which we can look after our own mental health, factors that affect us and how we can help others.

Mergers and acquisitions (M&A) is an umbrella term that encompasses the process of combining two or more separate companies to form a larger, consolidated, and, hopefully, more valuable one. There are many different types of deals which generally fall into the broad category of M&A – this module will consider the most common.

The Markets in Financial Instruments Directive (MiFID) was a European Union (EU) legislative act which provided a harmonised regulatory regime for investment services across the member states of the European Economic Area (EEA). MiFID II expands on MiFID and includes investment firms and credit institutions selling structured deposits and emission allowances. This module explores the origins and history of MiFID II, the organisations and products covered, its impact on the Conduct of Business requirements and its implementation. It also considers how the UK’s departure from the EU has affected the application of MiFID II.

Today, it is all too easy to allow the more challenging aspects of our professional and personal lives to dominate our thinking. The lockdown experience, with its prolonged working from home period has, for many professionals, blurred the lines between professional and private life even further. A few bad experiences can lead us to believe that a negative pattern is starting to form, and we can begin to expect the worst for the future. Mindfulness helps to bring our focus and attention into the here and now and seeks to break cycles of negativity in how we view ourselves and the world around us.

Networking is the art of creating and nurturing meaningful, professional and mutually beneficial relationships. Networking is a skill that can be harnessed to achieve any number of goals but, for a lot of people, it is something that is likely to be dreaded and avoided. Throughout this module, we will explore some of the most effective strategies for networking, how to enjoy it and how to make it a part of your daily working life.

Neuroscience can be seen as a trainable technique and tool that can be learnt and implemented in the workplace, into the daily working routine. When properly understood, it can help us better manage ourselves in terms of output, cooperation with colleagues, attitude and productivity, so that, when we are faced with new challenges or disruptions, increased pressure of changes in workloads and deadlines, we can still work optimally without loss of efficiency or focus, and without harming our mental or physical health and wellbeing.

A non-executive director (NED) is a member of the board of directors of a company, but the NED is not responsible for the day-to-day running of the company, nor for making any executive decisions. A NED, therefore, is not an employee of the company but is retained upon a contract for services, being paid a fee rather than a salary, and should not receive any incentive payments such as a bonus. This module provides an understanding of NEDs, their roles, the regulatory environment for them, how they are changing, and what makes a good NED.

Offshore funds are provided by many jurisdictions on every continent. They differ from most UK-based onshore funds in that the funds themselves suffer little or no taxation within the jurisdiction in which they are based. This module provides an understanding of offshore fund structures, the legal and regulatory framework, types of investment, administration and the distribution of offshore funds.

Open banking enables consumers to achieve an all-round, single platform view of all their bank accounts, allowing for easier comparison and switching, and for fintech providers to offer them innovative products and services to maximise their finances. Open finance is the next step in this process of liberating and sharing data as it extends the principles behind open banking to a much wider range of financial services products. This module examines open banking and open finance, assessing the advantages, the risks, and the latest UK and international developments.

The concept of ‘operational resilience’ has been receiving increased attention from financial services regulators, both in the UK and internationally, in recent years. The priority being given to the concept and the requirements which have been imposed on firms predate the COVID-19 pandemic. However, consideration of how firms adapt to large-scale and unexpected disruption to their business activities has taken on new importance in the light of the virus’s spread, and the wider impact of the various ‘social distancing’ measures which were adopted. The purpose of the module is to provide an introduction to the concept of operational resilience and to the practical implications for firms of the regulators’ developing policy in this area. The module also briefly explores the relationship between operational resilience and the, perhaps, more familiar concept of risk management.

A paraplanner is a person who works with a financial planner or financial adviser and completes a number of the non-client facing tasks involved in preparing and administering a financial plan or report for a client. This module examines the sector of paraplanning, the role, key skills, and qualifications of the paraplanner and how they fit into a financial planning environment. In this module we will cover the skills required to be a good paraplanner and also look at some of the tasks performed by paraplanners. It is important to note that the role of a paraplanner has not been clearly defined; paraplanners in one practice may perform very different duties to paraplanners in another. The role of the paraplanner continues to grow and develop. Similarly, there is no defined route as to how a paraplanner’s career may develop. Some see paraplanning as a route to becoming a financial planner, financial adviser or technical specialist; others see paraplanning as a career in itself.

Payments, and the technology that supports them, are essential requirements to ensure the smooth operation of the global economy. This module covers payment technology, examines the size and importance of the industry, provides an overview of the main predicted trends and looks at the growing use of cryptocurrencies and digital currencies.

Imagine what would happen if you were no longer able to deal with your own finances or to look after your own affairs, possibly as a result of a serious illness or accident. It is important to be prepared for these eventualities – the most common way is through the use of a power of attorney (POA). This module examines what POAs are, how they are governed, the different types available and their duties.

Financial services professionals are frequently challenged to differentiate both their firms and themselves from the competition. The ability to deliver clear, concise and compelling presentations is one way in which people can address this challenge. This module provides an understanding of the importance of soft skills, the various types of presentations, how to prepare and structure a presentation, how to utilise visual aids and how to deliver a presentation with confidence and conviction.

Firms in every industry face the risk of being affected by fraud and corruption. Financial services firms in particular must have systems in place to avoid or, once they have occurred, detect and mitigate the effects of unethical or illegal behaviour. This module is intended to help professionals understand and, hopefully, reduce the likelihood of fraud or corruption occurring.

This module provides an understanding of project management, from the initial stages in the project lifecycle, and the roles and responsibilities involved, through to the implementation and output of a successful handover and close-out.

The development of good personal communication skills is absolutely essential in the financial services sector when considering the many conference calls, meetings, presentations, workshops and public events which feature in the agendas of many professionals. This module serves as an introduction to mastering the ability to communicate effectively in front of an audience, commonly known as public speaking.

Financial services regulation has expanded at an astounding rate since the 2008 global financial crisis, as has the cost of regulatory compliance. What was once a negligible expense has become a material component of regulated firms’ annual spending, hence the emergence of Regtech. The module provides an introduction for those who have an interest in, but limited knowledge of, Regtech.

This module provides a briefing on recent regulatory changes for those working for UK-regulated firms, particularly senior managers and compliance professionals. It is divided into two parts – general regulatory changes and sector changes – and offers a short overview of recent key developments. The views expressed in this module are the author’s own, and not necessarily those of the CISI.

This module provides a briefing on recent regulatory changes for those working for UK-regulated firms, particularly senior managers and compliance professionals. It covers general regulatory and sector changes, and offers a short overview of recent key developments. The views expressed in this module are the author’s own, and not necessarily those of the CISI.

Risk management is the structured approach used to identify, assess, mitigate and monitor all risks that an organisation faces. This module defines what risk is, assesses the different categories that a firm could face, and examines the key steps in the risk management process and the three lines of defence model.

Rwanda Regulation & Market Practice

This module provides an overview of FATCA and the CRS, with specific application in South Africa. It highlights some differences between FATCA and the CRS, examines the classification of entities under both regimes and Global Intermediary Identifier Number registration, and it gives an overview of the reporting obligations and the consequences of non-compliance.

The aim of this module is to provide the reader with information on the impact of the Markets in Financial Instruments Directive 2014/65/EU and the Markets in Financial Instruments Regulation (commonly referred to as “MiFID II”) on South African investment companies. The module briefly gives some background on the establishment of the Markets in Financial Instruments Directive (“MiFID”). It explains MiFID II in the context of the Markets in Financial Instruments Regulation (“MiFIR”) and highlights its key components. The module then focuses on the various components of MiFID II that might affect South African investment companies. It reaches a conclusion with the practical impact that MiFID II has had on some South African investment companies and briefly reflects on the way forward.

Given the importance that education plays throughout childhood and adulthood, it should come as no surprise that many parents are willing to pay a premium to ensure their children get the best education available. This module is intended to help financial planners identify and address the requirements of clients who are seeking school fee planning advice.

Securities financing is the practice of firms or investors using the lending of securities such as shares or bonds as a vehicle for accessing capital or earning income. This module examines stock borrowing and lending, the activity and life of a loan, the restrictions on borrowing and lending, legal ownership aspects, repurchase agreements, risk mitigation, prime brokerage, and market sentiment and perception.

We all have skills and abilities, but we also all have room to grow and develop in our professional and personal lives. This module examines the importance and benefits of self-development and self-motivation.

The Senior Managers and Certification Regime (SMCR) is intended to increase the personal accountability of senior managers and other key staff to address the widely held perception that regulators have been unable to hold such individuals effectively to account. Using 20 key questions and answers, this module examines certain practical considerations facing firms and their senior personnel arising from the implementation of the SMCR into day-to-day business activities. Ideally, it should be read in conjunction with other CISI SMCR-related Professional Refresher modules (namely Senior Managers and Certification Regime, Certification – What it Means for You and Conduct Rules for All Staff).

Improving our social and emotional intelligence can be hugely beneficial, both personally and professionally. While it can help us develop in our careers through increasing our empathy for and others, it can also encourage us to handle a variety of situations calmly, reaching conclusions that benefit everyone concerned. In this module, we introduce the basic concepts of social and emotional intelligence, the science behind it, how it can be practised, learned and developed.

Investments are made through stock exchanges, which have been at the heart of the global financial system for centuries. This module explores what stock exchanges are, how they work, their participants, how they have evolved over time, and potential future developments.

This module will look at the rising incidence of poor mental health in working life, its cost, and the economic case for intervention. It will review the current state and effectiveness of organisational intervention before concluding that stress, a major contributor to poor mental health in organisations, must ultimately be addressed individually. It will describe why stress arises and how it can be transcended.

This module provides details of securities market regulation in Tanzania, including an overview of the capital markets, the Dar es Salaam Stock Exchange, conduct of business rules, public issues of securities, supervision and enforcement, and other CMSA regulations. Please note that the end-of-module test is to test your knowledge. In order meet the licencing requirement of the CMSA in Tanzania, you must sit the Tanzania Regulatory Assessment at the CMSA. Bookings can be made at customer.support@cisi.org or through the CMSA directly.

Teamwork and team building provide benefits other than simply boosting a company’s productivity and profits. This module examines the importance of teamwork and team building for both organisations and their individual members of staff.

Information technology (IT) is always evolving, computing power is continually increasing and data storage has become fairly commoditised. The growing complexity of the technology landscape can be daunting, and poor choices can significantly hurt a business. It is critical for non-technology managers to have at least a basic understanding of important elements of IT, and to be able to cut through the clutter of complex terms and constantly changing products.

This module covers the basic concepts of trade finance, considering both domestic and international trade. It introduces candidates to the need for trade finance, the common products and services available to corporate clients and small businesses involved in domestic and international trade, and discusses risks and trends within the industry.

Transaction reporting is an essential tool for regulators, enabling them to meet some of their most important regulatory objectives. The FCA demands complete and accurate transaction reporting and it has demonstrated, through a series of high-profile fines, that it will not tolerate reporting failures. To comply with these requirements, firms must have a robust reporting framework, systems and controls.

Zambia Regulatory Assessment

Con la realización de este módulo el alumno aprenderá a analizar, comparar y seleccionar cualquier tipo de fondo de inversión. El objetivo del curso es que el alumno recuerde los conceptos y herramientas para poder seleccionar un fondo, analizando variables como el riesgo y la rentabilidad y pudiéndolo comparar con otros fondos de su misma categoría. Además se recordará las ventajas que tiene invertir en un fondo de inversión así como todas sus características y tipologías que podemos encontrar en el mercado.

El módulo se centra en el aprendizaje del análisis fundamental y la interpretación de las diferentes herramientas y métodos que podemos utilizar para valorar cualquier valor o empresa cotizada y no cotizada.

El módulo de Análisis, selección y comparativa de Renta Fija se sumerge en las principales herramientas y estrategias a la hora de realizar una gestión de carteras de Renta Fija. Se describen las principales fórmulas para calcular el riesgo de tipo de interés, a la vez que se detallan los principales métodos de mitigación y minimización. Según la visión del gestor formulamos la manera de potenciar la rentabilidad de la cartera asumiendo más o menos exposición a movimientos en los tipos de interés. Por último, se hace hincapié en el riesgo de crédito, proponiendo los principales métodos de análisis cuantitativo y cualitativo para realizar un correcto análisis crediticio de una empresa, además de proponer diversas estrategias de cobertura y valores relativos entre bonos.

10 de los más destacables expertos de 10 de las gestoras más relevantes a nivel internacional: Aberdeen Standard Investments, BlackRock, BNY Mellon IM, Carmignac, Fidelity International, Janus Henderson, Jupiter AM, M&G, Natixis IM, y Oddo BHF, le traen a Finect sus mejores ideas de inversión para los próximos meses. 15 minutos por intervención. El CISI apoya este evento otorgando cuatro (4) horas de formación continua. Para acreditar dicha formación, los miembros deben pasar el test de aptitud. Una vez superado, el tiempo de formación continua se computará automáticamente en sus respectivos perfiles.

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El módulo se desarrolla en base a la obtención de los conocimientos necesarios del mercado de divisas con un doble objetivo, por un lado, poder operar en el mismo a partir de operaciones de trading especulativas y, en segundo lugar, conocer las herramientas que se pueden utilizar en la dinámica empresarial para cubrir la exposición al riesgo de las modificaciones en los tipos de cambio de las divisas.

El módulo del Mercado de Renta Fija desarrolla los principales conceptos relacionados con los activos de Renta Fija. Se describen las principales características a tener en cuenta en este tipo de activos, a la vez que se hace un barrido de las principales clases de bonos con los que nos podemos encontrar y de sus diferencias. Por último se recuerdan las principales fórmulas de valoración para que sepamos hallar en cada momento variables como el precio de un bono o su rentabilidad.

Se analizarán en profundidad los tres pilares de la Previsión Social. El primer sistema de reparto es de prestación definida, donde los cotizantes o personas en activo actualmente trabajando, depositan sus cuotas en la Tesorería General de la Seguridad Social, para que la personas en situación de pasivo, esto es, que han generado prestación, cobren dichas prestaciones. En el análisis de este primer pilar desarrollaremos los factores que afectan al problema de la sostenibilidad y la necesidad del complemento de los otros dos pilares, de capitalización privada. El segundo, soportado por la empresa y en ocasiones también con aportaciones del trabajador, y el tercero de carácter totalmente individual, en el que las aportaciones las realiza el ciudadano, con absoluta libertad. Dentro de este análisis definiremos los principales instrumentos de cada uno de ellos, así como sus ventajas e inconvenientes, para poder concluir, que la forma óptima y más efectiva de obtener una adecuada cobertura en previsión social tanto presente como futura es por combinación de los tres pilares y a su vez de los diferentes instrumentos que conforman el segundo y el tercero.

Este módulo permitirá conocer el sistema público de pensiones. El módulo se inicia con un estudio de los regímenes de cotización, sus bases y tipos de cuota. A continuación, se analizan las diferentes prestaciones que ofrece el sistema con los conceptos de fallecimiento, incapacidad y jubilación. En las secciones siguientes se plantea la problemática actual que sufren diferentes estados por la diferencia existente entre la recaudación y la redistribución de la renta. A continuación, se analiza las diferentes soluciones que se plantean para la mejora de su sostenibilidad. La última parte del módulo identificará el mercado potencial para este tipo de producto, para focalizar a los clientes que puedan estar interesados en su contratación.

Con la realización de este módulo se aprenderá a analizar, comparar y seleccionar cualquier tipo de ETF así como comprender su funcionamiento y sus beneficios de coberturas en una cartera.

El desarrollo de las nuevas tecnologías ha hecho posible el fenómeno FINTECH, pero además se están dando cambios en los comportamientos de los usuarios que hacen avanzar el sector. Las FINTECH se usan cada vez más, por todo tipo de usuarios, empresas y particulares de todas las edades y perfiles. Las nuevas empresas FINTECH actúan a lo largo de toda la cadena de valor del sector de servicios financieros, aunque se suelen especializar en un área determinada, al contrario que la banca tradicional que es “multiproducto”. Es evidente pues, que el fenómeno FINTECH pone ante la banca tradicional importantes retos, a los que los bancos están haciendo frente con diligencia e intensidad, en general. Aunque las FINTECH utilicen las tecnologías masivamente, lo importante es que los usuarios están cambiando sus hábitos y eso admite pocas dudas. En una generación (5-10 años) asistiremos a un cambio de paradigma en el sector de servicios financieros con toda probabilidad. La banca tradicional está reaccionando hace años. Se está digitalizando, está estableciendo colaboraciones con empresas tecnológicas y FINTECH, y su presencia en FINTECH de éxito es ya considerable. Los GAFA y los BAT tienen el dinero, las capacidades tecnológicas y de negocio, y el acceso a millones de usuarios. Por todo ello, es necesario que la regulación financiera específica para las FINTECH esté coordinada a nivel mundial, con lo que los Organismos Reguladores supranacionales cobran gran protagonismo estableciendo las directrices y cautelas principales a seguir. Las legislaciones nacionales se están concretando siguiendo los principios supranacionales. La UE es un área de especial relevancia con gran interés en impulsar un sistema financiero transparente, garantista para el usuario y favorable a la innovación.

En este módulo vamos a conocer las diferentes implicaciones fiscales de los contratos de seguro tanto en el momento del pago de las primas, como durante su vigencia y, sobre todo, en el momento de la percepción de las prestaciones. Se analizará qué impacto provoca las prestaciones percibidas por personas físicas como consecuencia de coberturas otorgadas por seguros de personas y la diferencia existente en función de la cobertura, la forma de cobro o la existencia de beneficios fiscales específicos. Por último, destacar que se analizará el impacto fiscal que producen las prestaciones derivadas de un fallecimiento, así como las que se producen derivadas de la supervivencia o invalidez.

El módulo empieza definiendo el concepto de instrumento derivado, describiendo sus principales características y aplicaciones así como los tipos de derivados y de mercados donde se pueden negociar. Una vez hecha la introducción, este módulo se centra en una de las clases de derivados más utilizados, los futuros y los forwards. Se explican sus principales características y se explican los fundamentos de valoración. El módulo concluye explicando cómo utilizar estos instrumentos para invertir/ especular y realizar coberturas de exposición al riesgo de mercado.

En este módulo se traza una introducción a una de las preocupaciones fundamentales de cualquier inversor; esto es, como usar el capital de forma inteligente, provechosa y segura. La gestión monetaria nos proporciona elementos para poder establecer los límites o fracciones del capital que se podrían destinar a la inversión de manera que se maximice el rendimiento sin incurrir en un riesgo excesivo que pudiera suponer la pérdida total del capital del inversor. La gestión del riesgo nos facilita una medición de la posibilidad de que los resultados de las inversiones realizadas sean diferentes a los inicialmente previstos o deseados.

En este módulo se presenta una introducción a uno de los riesgos más importantes a los que se puede enfrentar cualquier inversor en el mundo actual: los riesgos geopolíticos. En un mundo de economía globalizada en el que cualquier inversor puede acceder, con más o menos facilidad, a cualquier mercado mundial, es imprescindible comprende el posible impacto que pueden tener en sus previsiones de rendimiento los riesgos geopolíticos. Tensiones entre naciones por conflictos fronterizos o de influencia en su área regional, inestabilidad política de los regímenes gobernantes en un país, conflictividad social o simplemente unas elecciones políticas, son factores que pueden impactar de forma más que notable en las inversiones. No pretende ser este módulo un tratado o una guía para poder confeccionar un análisis del riesgo geopolítico de una inversión concreta, sino más bien realizar un recorrido desde su definición, fuentes y factores que generan el riesgo, principales modelos de medición y cobertura del impacto de los citados riesgos, que provea de una visión global, aun cuando sintetizada del complejo mundo de la geopolítica.

Con la realización de este módulo el individuo aprenderá y mejorará sus conocimientos del asesoramiento financiero y de asignación correcta de activos para la correcta creación de una cartera. El objetivo del módulo es recordar los principios básicos para la identificación del perfil del cliente mediante diferentes aspectos tanto internos como externos, así como refrescar como llegar a una correcta creación de una cartera teniendo en cuenta los diferentes tipos de riesgo que envuelve al cliente y su grado de aversión al riesgo.

La institución aseguradora se define como un conjunto de medios que se ponen a disposición de los que están amenazados por un riesgo, en los que se incluyen conocimientos técnicos especializados, entidades aseguradoras y distribuidores de seguros, y los legisladores con leyes específicas sobre el sector asegurador.

La Ley de Ordenación, Supervisión y Solvencia de las Entidades Aseguradoras y reaseguradoras conocida por sus siglas: LOSSEAR, supone el máximo texto normativo en relación con la organización del sector asegurador, pues de la misma emanan las reglas del acceso a la actividad aseguradora, la supervisión y control de dichos requisitos, y en general supone la norma encomendada a confirmar la estabilidad y la solvencia de las Entidades Aseguradoras.

El profesional aprenderá qué es la criptomoneda y cómo surgieron las criptomonedas como un producto secundario del efectivo digital, cómo funciona y ejemplos, qué hacen los mineros, cómo crean monedas y confirman transacciones. Se explica también el futuro como el amanecer de una nueva economía y sus propiedades: revolucionarias, transaccionales y monetarias.

En este módulo se abordan aquellos aspectos principales que atañen a las denominadas “operaciones vinculadas”. Las operaciones vinculadas son aquellas que se realizan entre personas físicas o jurídicas entre las cuales existe un determinado grado de vinculación entre ellas, ya sea porque pertenecen a un mismo grupo empresarial, comparten administradores, tienen accionistas comunes, o porque existe una relación familiar de primer o segundo grado entre las personas que realizan la operación. En España, la Ley 36/2006, de 29 de noviembre, de medidas de prevención del fraude fiscal significó la codificación del artículo 16 de la Ley reguladora del Impuesto sobre Sociedades, en lo referente a estas operaciones. Así, en este módulo se expondrán, en detalle, aquellos aspectos que desarrolla el legislador en cuanto a supuestos de vinculación, requerimientos obligatorios de documentación, cómo se valoran las operaciones, impacto contable, e impacto fiscal de modo que el profesional del sector financiero pueda tener una idea clara y precisa de las implicaciones y efectos, permitiendo mejorar su nivel de asesoramiento.

En este módulo se propone una reflexión 180º sobre el liderazgo en equipos financieros, proponiendo un modelo de actuación basado en la influencia y repercusión de la ausencia de un liderazgo real y los beneficios de la existencia del mismo. Este eje entre la existencia y la no existencia del liderazgo (los 180º enunciados) permitirá establecer una serie de conclusiones y características que permitirán enunciar tanto las claves como las cualidades del líder en el sector financiero en el siglo XXI. Asimismo, se proponen una serie de reflexiones importantes sobre la utilidad y valor que debe otorgarse al liderazgo en una organización, siendo la principal su implementación como sistema de prevención para garantizar una actuación justa y prudente que borre de la imagen de las organizaciones de sector financiero todas aquellas malas praxis de los pasados años.

Esta unidad didáctica tiene la finalidad de dar a conocer qué es la Resolución Alternativa de Conflictos, para qué sirve, sus características, sus variantes, las ventajas de recurrir a ella y la forma de acceder a esta especialidad de la Conflictología.

La MiFID fue una ley de la Unión Europea que proporcionó un régimen normativo armonizado para la inversión en los 31 estados miembro del Espacio Económico Europeo. La MiFID II amplía la MiFID e incluirá a las empresas de inversión que venden depósitos estructurados y derechos de emisión. Este módulo examina los orígenes y la historia de la MiFID II, las organizaciones y los productos que cubre, su efecto sobre las exigencias de las normas de conducta y las protecciones y la aplicación.

La MiFID es una Directiva de la Unión Europea que proporciona un régimen normativo armonizado para la inversión en los 31 estados miembro del Espacio Económico Europeo. La MiFID II amplía la MiFID e incluirá a las empresas de inversión que venden depósitos estructurados y derechos de emisión. Este módulo examina los orígenes y la historia de la MiFID II, las organizaciones y los productos que cubre, su efecto sobre las exigencias de las normas de conducta y las protecciones y la aplicación.

La MiFID es una Directiva de la Unión Europea que proporciona un régimen normativo armonizado para la inversión en los 31 estados miembro del Espacio Económico Europeo. La MiFID II amplía la MiFID e incluirá a las empresas de inversión que venden depósitos estructurados y derechos de emisión. Este módulo examina los orígenes y la historia de la MiFID II, las organizaciones y los productos que cubre, su efecto sobre las exigencias de las normas de conducta y las protecciones y la aplicación.

Los seguros de vida se pueden clasificar por diferentes criterios como según el objeto de su cobertura, el periodo que comprende, la forma de pago, etc. La amplitud de clasificación se debe a la evolución que ha sufrido los últimos años en los que se han ido incorporando diferentes características y han hecho de él un producto flexible y versátil. Es importante conocer las diferentes clasificaciones y las implicaciones de las mismas para conocer a fondo el funcionamiento de los seguros de vida.

La incorporación al ordenamiento jurídico español de la Directiva (UE) 2016/97, del Parlamento Europeo y del Consejo, de 20 de enero de 2016, sobre distribución de seguros –“IDD” por sus siglas en inglés o “Directiva de Distribución”- refunde y deroga la Directiva 2002/92/CE sobre Mediación de Seguros –“IMD” según siglas en inglés”, con una serie de objetivos: Incrementar y mejorar la protección del consumidor del seguro minorista armonizando disposiciones nacionales relativas a distribución de seguros y reaseguros, establecer condiciones necesarias que garanticen una igualdad de trato entre los distintos distribuidores de productos de seguros, aportando una protección al consumidor con independencia del canal por el que haya optado para adquirir sus productos de seguro, y reforzar la protección de tomadores de seguros, especialmente en lo relativo a productos de seguro de vida con componentes de inversión. La IDD es una directiva de armonización mínima, que permite, en su caso, que los Estados miembros puedan aplicar disposiciones más estrictas de protección de consumidores, siempre que tales disposiciones sean compatibles con el Derecho de la Unión, incluida la propia Directiva. La transposición de la Directiva (UE) 2016/97, aunque establecida hasta un plazo máximo de transposición, se encuentra en la actualidad en las últimas fases de tramitación parlamentaria. Con la referida finalidad de incrementar la protección a los asegurados, la IDD establece requisitos en diversos ámbitos: de información general (precontractual, postcontractual…), en materia de retribuciones e incentivos, en materia de conflictos de interés, Gobernanza de Productos, y Normativas de conducta específica en la venta y contratación de productos de inversión basados en seguros -IBIPs-.

¿Existirá el sistema público de pensiones cuándo me jubile? ¿Cómo planifico mi jubilación? ¿Es un plan de pensiones la opción más rentable? ¿Qué podría hacer para tener una jubilación digna? La preocupación por saber cómo viviremos cuándo lleguemos a la vejez se ha convertido en uno de los aspectos fundamentales que demandamos de un asesor financiero. Existen diversidad de productos financieros que se pueden tener en cuenta a la hora de planificar la jubilación. En este módulo se desarrollan las características fundamentales del producto estrella en este ámbito de actuación de los asesores financieros: el Plan de Pensiones. Es importante conocer en profundidad los diferentes tipos que existen, la forma de rescatarlos, como planificar la fiscalidad del mismo y su regulación a la hora de ofrecer a nuestro cliente la mejor opción para cubrir su necesidad de rentas en el momento de la jubilación y contribuir a mitigar su desasosiego ante la llegada de esa etapa en su vida.

Habitualmente se divide el sector de servicios financieros en cuatro categorías: la gestión de inversiones, los seguros, la banca de inversión y la banca comercial o minorista. En este módulo se presenta una de las actividades que forman parte del core business de la banca comercial: la financiación a clientes. Comenzaremos por describir qué entidades proporcionan la financiación a los clientes; esto es las entidades de crédito y los establecimientos financieros de crédito, así como las actividades que realizan. Una vez conocidas estas, el módulo se divide en dos grandes bloques: la financiación a las personas físicas o particulares y la financiación a las personas jurídicas (empresas, cooperativas, fundaciones,…). Para cada uno de estos bloques describiremos sus necesidades típicas de financiación y se presentaran los productos adecuados para cada una de estas necesidades. Sin pretender ser un tratado sobre la financiación, si se enumeran y describen las operaciones de financiación más usuales en el mercado.

Este módulo estudia las técnicas y procedimientos que tienen por objeto establecer una correcta política de datos personales cumpliendo con la legislación vigente para minimizar los riesgos de sanciones por incumplimiento o cumplimiento defectuoso de las prescripciones legales. El nuevo Reglamento Europeo de Protección de Datos ha entrado en vigor el 25 de mayo de 2018 en todos los países de la Unión Europea, y también se ha aprobado el Real Decreto-ley 5/2018, de 27 de julio, de medidas urgentes para la adaptación del Derecho español a la normativa de la Unión Europea en materia de protección de datos. Esta nueva normativa, afecta a todas las empresas en cuanto dispongan de datos personales de clientes, trabajadores y terceros, potenciando un compromiso activo en la salvaguardia de los derechos fundamentales, en particular los que tienen que ver con la privacidad en todos los ámbitos, pero especialmente en internet. El alumno adquirirá conocimientos y habilidades para conocer el sistema de protección de datos de carácter personal, en los aspectos más relevantes. El tratamiento y procedimientos que deben darse a dichos datos; los derechos y obligaciones que tiene el titular y el responsable de los mismos y el régimen sancionador en caso de incumplimiento.

Este módulo permitirá conocer el entorno actual socioeconómico en España, y entender la importancia que los sistemas privados complementarios a la pensión de jubilación tendrán de hoy en adelante. Conoceremos las dificultades por las que atraviesa el sistema público de pensiones en España, derivado de la mayor esperanza de vida de la población y de la baja tasa de natalidad, y las consecuencias que tiene ello para las futuras pensiones. Derivado de ello, se crea la necesidad de potenciar los sistemas privados complementarios a la pensión de jubilación de la seguridad social, a través de mecanismos de ahorro como fondos de inversión, seguros de ahorro, inversión en inmuebles, etc. El análisis de este módulo se centrará en el producto de rentas vitalicias. Se analizará en detalle las características de las rentas vitalicias para comprender el papel que este activo financiero, tramitado a través de un seguro de vida, tienen como vehículo de ahorro complementario a la jubilación. También se analizará en profundidad su tratamiento fiscal para ver las bondades del producto, detallando su evolución en función de la edad de la persona que contrata el producto. La última parte del módulo identificará el mercado potencial para este tipo de producto, para focalizar a los clientes que puedan estar interesados en su contratación.

El Oxford English Dictionary define el riesgo como “una situación que implica la exposición a un peligro”, o una “posibilidad de daño o perjuicio contra la que se asegura algo”. El riesgo puede producirse debido a acontecimientos externos, como por ejemplo la economía global, acontecimientos políticos, fuerzas sociales y del mercado, fenómenos naturales y progreso tecnológico, o debido a factores internos, como por ejemplo el consejo de administración, inversores institucionales y clientes o los procedimientos internos operativos, financieros y de cumplimiento de una empresa. Este módulo permite comprender el riesgo, sus categorías principales, el riesgo en los servicios financieros y la manera en que se gestiona, la propensión al riesgo, el fraude y el robo, la seguridad de la información y la continuidad de las operaciones.

El módulo se desarrolla en base a la obtención de los conocimientos necesarios del funcionamiento del sistema financiero. En el programa se podrá ver los diferentes instrumentos de los que está dotado el sistema financiero así como las herramientas necesarias para su correcto funcionamiento.

En nuestro quehacer cotidiano al proceso comercial lo denominamos negociación, definido como una interacción orientada a generar beneficios mutuos. El proceso comercial y las técnicas de comercialización o venta han variado sustancialmente a lo largo del tiempo, adaptándose a los cambios que hemos sufrido las personas, al cambio de nuestro perfil de percepción con la irrupción de las nuevas tecnologías y nuevos canales de comunicación y a la propia dinámica de la sociedad y, por consecuencia, de los mercados. En este módulo se realiza un completo repaso al proceso comercial en el asesoramiento financiero, desde la planificación de la actividad comercial, la prospección y contacto con clientes, la planificación y gestión de las entrevistas con clientes, la presentación de ofertas y las técnicas de cierre, terminando con unas breves pinceladas sobre la fidelización de clientes.