Individual Accountability Framework (IAF)

  • Level: Beginner
  • Duration: 1 Hour
  • Access: 1 Year
Write your awesome label here.
Course overview
This tutorial describes the IAF in detail, with particular focus on the key areas covered by the new rules – the Senior Executive Accountability Regime (SEAR), Conduct Standards, enhancements to the existing Fitness & Probity (F&P) Regime and modifications to the Administrative Sanctions Procedure (ASP). The tutorial is particularly relevant to those with no knowledge or experience of the IAF, though there is sufficient detail to make it useful to those with some familiarity as well.

Course Outline

The Individual Accountability Framework (IAF) is one of the most significant regulatory developments in Ireland in recent times. Its overarching objective is to improve governance, performance and accountability in relation to regulated financial service providers and their management/employees. By establishing a clear framework as to who is responsible for what within these firms, the reforms will encourage greater individual accountability and enhance the Central Bank's ability to hold individuals to account when their conduct or performance falls below regulatory expectations.

This course describes the IAF in detail, with particular focus on the key areas covered by the new rules – the Senior Executive Accountability Regime (SEAR), Conduct Standards, enhancements to the existing Fitness & Probity (F&P) Regime and modifications to the Administrative Sanctions Procedure (ASP).

What You Will Learn

Topic 1: Overview of the Individual Accountability Framework

  • The Need for the Individual Accountability Framework
  • Legislative & Regulatory Measures
  • Key Elements of the Individual Accountability Framework

Topic 2: Senior Executive Accountability Regime (SEAR)

  • What is the Regime?
  • SEAR Responsibilities
  • Assignment of Prescribed Responsibilities
  • Responsibilities of NEDs & INED's
  • Statements of Responsibilities
  • Management Responsibilities Map
  • Duty of Responsibility

Topic 3: Conduct Standards

  • Types Of Conduct Standard
  • Business Standards
  • Common Conduct Standards
  • Additional Conduct Standards
  • Reasonable Steps
  • Guidance On Reasonable Steps
  • Firms' Obligations

Topic 4: F&P Regime

  • Changes to the F&P Regime
  • Certification
  • Certification Process
  • When to Certify
  • F&P Records

Topic 5: Administrative Sanctions Procedure (ASP)

  • Strengthening the ASP
  • Sanctions on Individuals
  • High Court Oversight

Gain a professional asset allocation certificate

Gain Industry Knowledge and a Certification

 Test your knowledge throughout each tutorial with
regular review questions. 
  End each tutorial with a short, graded test designed to enhance knowledge retention.
  Gain a shareable professional certification.

Sign up to our Finance eLearning Newsletter with your email and avail of a 15% discount on your first purchase!