Launch of the Governance, Risks and Compliance diploma

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BY COMMERCIAL REPORTER

THE Deposit Protection Corporation (DPC) has partnered with the Zimbabwe Institute of Chartered Secretaries and Administrators (ICSAZ) and the International Compliance Association (ICA) to launch a Governance, Risk and Compliance Diploma for Executives of the financial services sector.

Set at postgraduate level, the degree has seven modules and applicants will also be awarded a certificate of competence in the deposit protection systems sector with the aim of fostering a strong and stable financial services sector.

Finance Minister Mthuli Ncube said that a strong and stable financial services sector plays a central role in stimulating sustainable economic growth.

He said the qualification supports the government’s determination to strengthen the fight against money laundering through capacity building, training and awareness.

“It is therefore imperative that stakeholders in the financial services sector are continually equipped with the latest knowledge and skills on critical aspects that strengthen the sector such as corporate governance, risk management, deposit insurance and security. compliance, ”Ncube said.

The Treasury chief said Zimbabwe’s vision to become an upper middle-income economy by 2030 calls for a strong and stable financial sector that plays a central role in intermediation and support to all sectors of the economy. the economy. This, he said, required interventions from all stakeholders to address risks related to corporate governance, compliance, risk management and consumer protection.

In a statement, the DPC said, “The governance, risk and compliance agenda aims to cover these areas comprehensively to help build a secure, strong and credible financial sector,” Ncube said. “The degree is well structured to comprehensively cover the areas of governance, deposit protection, risk management and compliance.

“Some of the causes of bank failures in Zimbabwe have been attributed to failure to adhere to the principles of good corporate governance, compliance and good risk management practices.

“We are convinced that this program will contribute to the development and training of ethical and principled banking practitioners and will help strengthen the banking sector so that it continues to play its central role in the achievement of the national priorities enshrined in the National Strategy. development n ° 1. “

ICSAZ President Taona Munzvandi said the certificate would provide employers with assurance that degree holders have basic knowledge, skills and understanding in risk management and counseling, good corporate governance and key compliance issues to operate effectively in the financial services industry.

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