The Probability Risk and Impact System (PRISM) is the GFSC’s risk-based framework for the supervision of regulated firms. This systematic supervision enables the regulator to focus resources where they have assessed there is a higher risk of failure due to financial stability or reputation. The course will explain the PRISM approach, along with practical guidance in relation to each of the 11 risks assessed as part of a full risk assessment to enable a business to prepare for a visit by the regulator.
This course is aimed at directors, NEDs, compliance officers and all other staff with regulatory responsibilities.
The course will cover the following topics:
- Risk based supervision
- The PRISM approach
- Analysis of the 11 risks
- PRISM on-site visits
- Setting of risk appetite
- Risk management in relation to PRISM.
In attending this course, delegates will fully understand how PRISM works, be able to assess the impact on their firm and to identify areas which require action in order to be prepared for a regulatory visit.
Sharon Alvarez is a Director of Resolve Partners Ltd. Prior to setting up Resolve Sharon was a Director of a large Guernsey fund administrator. She held the position of Group Head of Risk and Compliance with responsibility for Guernsey, London, Luxembourg and Jersey compliance, governance and risk management. She is a qualified accountant (FCCA) and Chartered Secretary (ACIS).
Sharon has over 30 years' experience of accounting, administration and compliance/governance including many years at board level on companies in multiple jurisdictions (including regulated General Partner boards). She has significant experience in leading licensed entities through complex and problematic situations including GP/Advisor divorce, mediation, regulatory issues and regulator onsite inspections including PRISM.
Sharon enjoys all aspects of compliance, governance, company secretarial and risk management and since setting up Resolve has worked with clients from the fiduciary, fund, banking and insurance sectors.