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€390 - €950
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EIMF Certificate in Governance, Financial Regulation and Compliance
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Highlights
Live Online
28 CPD Units | 28 Hours
HRDA Subsidised
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
Corporate governance is a system of direction and control that dictates how a board of directors governs and oversees a company. It has proven to be a critical factor for any organisation, and even more so for financial institutions, affecting their sustainability, growth and overall development.
Financial regulation refers to the rules and laws firms operating in the financial industry, such as banks, credit unions, insurance companies, financial brokers and asset managers must follow. However financial regulation is more than just having rules in place – it’s also about the ongoing oversight and enforcement of these rules. State institutions and agencies are responsible for this oversight through monitoring and supervision of the financial sector, with the long-term aim of maintain the integrity and stability of the financial system,
The operational and regulatory environment for both financial institutions and directly correlated professionals like lawyers, accountants and auditors has never been tougher. All those professions and markets are co-ordinated and supervised by regulators to avoid market distortions and potential “chain reaction” deriving from a failure to handle them and treat them fairly and with professionalism.
Consequently, establishing an efficient Compliance function is crucial for organisations in the financial services industry. Given the increasingly complex regulatory framework, being compliant in the Financial Services sector has become a great challenge and a necessity that requires relevant expertise and a well-documented plan of action.
The Certificate in Governance, Financial Regulation and Compliance course will provide participants with an up-to-date understanding of the regulatory framework and financial regulation in Cyprus and its implications and applications to the financial services sector. The course also provides a detailed understanding of the theory and practice of regulation, corporate governance, corporate culture and compliance, and will give participants an ability to apply this knowledge to real life corporate problems. Recent trends and challenges such as those related with Environmental Social Governance (ESG) issues and sustainability are also covered.
Training Objectives
This Certificate course will examine specific areas through three key modules:
Corporate Governance for Financial Institutions
The Role of Compliance in Financial Services
Financial Sector Regulation
Additionally, relevant case studies will be offered while emphasis will be placed on recent trends and developments
Through these modules, participants of this Certificate programme will:
Understand the core concepts, theories, challenges and benefits of good corporate governance
Attain a clear picture of why regulation is required and the relevant regulatory framework for financial services
Examine the responsibilities and obligations for compliance, compliance risk assessment processes and managing cross-border compliance
Appreciate the major implications deriving from a complicated supervisory system initiating from the international decisions and ending with the local implementation by firms and professionals
Examine the combined implementation of major regulatory requirements currently in place both locally and on a European Level
Review recent trends and new challenges for the financial services industry
Training Outline
Corporate Governance for Financial Institutions
Overview of Corporate Governance
The roles and responsibilities of company Board and Directors
How to appoint a Board of Directors
Corporate Governance Requirements for Board Committees
Structure and role of Board Committees
How to achieve effective Board meetings
The importance of Risk and Compliance oversight
Internal Control Framework
Separation of Ownership and Control – Conflicts of interest
New trends and challenges in Corporate Governance – ESG and Sustainability
The Role of Compliance in Financial Services
Defining Compliance
Duties and Responsibilities of the Compliance Function
The Independence of the Compliance Function
Key Compliance challenges
Compliance Risk
Compliance Monitoring Programme
Compliance and Training
A practical approach to the challenges faced by Compliance Officers
Financial Sector Regulation
Why is Regulation essential
What are the objectives of regulation
Key regulatory tools
Major International, European and Cypriot regulatory and standard-setting authorities
Key areas of International Financial Regulation
Major regulatory initiatives and legal developments
Regulation and Compliance
Money Laundering Methods
The role of cryptocurrencies in money laundering
Terrorist Financing
Corruption and Bribery
Fraud
White collar crime
Relevant regulations and legal framework
Relevant AML framework
What regulators expect in practice
Financial Crime trends in 2025
Sanctions
Case Studies
Who Should Attend
The Certificate in Governance, Financial Regulation and Compliance is ideal for:
Executive Directors
Non-Executive Directors
Heads and Senior Staff of Risk and Compliance
Compliance professionals and advisers
MLRO
Heads of control functions
Senior managers
Company secretaries
Internal Legal Counsel
Training Style
The Certificate is designed to deliver knowledge and enhance participants' skills via short lectures, interactive case studies and practical examples.
The use of real-life material will help participants to think critically about scenarios that will be relevant to their respective roles and organisations.
Knowledge Test
At the completion of the knowledge areas, participants will be assessed via the form of Multiple-Choice Questions which will consist of questions related to the material taught. The aim of the assessment is to examine participants' overall attention and knowledge of material taught as well as their competencies towards the implementation of practical cases.
CPD Recognition
This programme may be approved for up to 28 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
This training course may be approved as an external activity under the new ACAMS recertification category ”non-ACAMS credits” for up to 28 CPD units. Eligibility criteria and CPD Units are verified directly by the Association of Anti-Money Laundering Specialists (ACAMS). To read more about the non-ACAMS credits policies and eligibility criteria please click here.
Facilitators
Adonis Pegasiou
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Adonis Pegasiou is the Academic Director of EIMF since May 2019. He holds a PhD in Politics (University of Manchester), an MSc in European Policy Studies (University of Bristol) and a BSc in Economics (London School of Economics (LSE)). Furthermore, he holds the ‘Certified Global Sanctions Specialist’ (CGSS) Certification offered by the Association of Anti-Money Laundering Specialists (ACAMS) and a Diploma in ‘Governance, Risk and Compliance’ (Merit) offered by the International Compliance Association (ICA). Following his doctoral studies, he held positions in the public and private sectors including Cyprus Airways (Head of Chairman’s Office and Non-Executive Board Member), the Secretariat of Cyprus Presidency of the Council of EU, the Embassy of Kuwait in Cyprus (Consultant to the Ambassador) and the Cyprus Cooperative Bank (Non-Executive Board Member – appointed by the Government approved by the Parliament and European Central Bank). In between his professional appointments, Adonis Pegasiou was awarded post-doctoral research funding by the Research Promotion Foundation of the Republic of Cyprus to examine the ‘Europeanisation of Cyprus’s economy’. For the duration of the post-doctoral project, he was based at the EUC Research Centre (Cyprus) and was also a Visiting Fellow at the Hellenic Observatory of the LSE. In addition, he has been involved in numerous research projects, published his work in various peer-reviewed journals and participated in numerous international conferences. Moreover, he has taught at the European University Cyprus (EUC) (2014-2016) and has been an Adjunct Lecturer at the Department of Social and Political Sciences of the University of Cyprus since 2015.
Anna Stylianou
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CAMS, CCAS, CFE, CRC, CySEC Advanced, CySEC AML | Anna is a passionate leader and expert in the global Anti-Financial Crime (AFC) community, with extensive experience across various financial institutions, including traditional banking, EMIs, investment firms, and the legal industry. Leveraging her deep understanding of regulatory compliance, Anna empowers organizations to effectively combat financial crime through her strategic guidance and practical solutions. Recognized as a thought leader in AML, KYC, and Crypto Compliance, she actively facilitates knowledge sharing and collaboration within the AFC community. Anna is the founder and principal of AML Cube, a consulting and training firm, Anna equips financial institutions with the tools and expertise they need to navigate the evolving regulatory landscape and build robust AFC programs.
Despina Christofi
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Dr. Despina Christofi holds a PhD in Law (University of Central Lancashire, 2018), an LLM in International Commercial Law (University of Glasgow, 2014) and an LLB (Hons) (University of Leicester, 2013). Her research interests evolve around EU economic and financial governance in times of crisis, European Banking Union, banking supervision and regulation, Alternative Dispute Resolution methods and International Investment Law and Arbitration. She has served as a Lecturer in the School of Law at UCLan Cyprus for several years, and worked in academic positions in other private institutions, teaching and supervising students in both undergraduate and postgraduate studies. She is currently holding an Adjunct Faculty position in the Open University of Cyprus. She has been I actively participated in curriculum development and assessment, ensuring that particular legal programs remained relevant and aligned with industry standards. For two years, she had the position of officer in the Central Bank of Cyprus, working on the preparation of specific Directives on the governance and supervision of credit institutions in Cyprus and representing the Central Bank of Cyprus in European Central Bank working groups on fit and proper, internal governance and remuneration for financial institutions. Dr. Christofi is a member of the Cyprus Legal Council and an accredited trainer of Cyprus Human Resources Development Authority, a Fellow in Higher Education Academy and a mediator. Finally, she has been actively involved in giving expert legal opinions in EU financial crisis law and banking law for Cypriot law firms and legal authorities.
Frequently Asked Questions
When will I receive my invoice?
The invoice is issued on the day the course starts.
What payment methods are accepted?
Payments can be made by bank transfer, cheque, or credit card.
When will my certificate be issued?
Certificates are issued within 7–10 days after the course has been completed, provided that the invoice has been paid.
How can I access my certificate?
Once your certificate has been issued, you will receive an automated email from Cademy notifying you that it is available.
Click the Get Your Certificate button in the email to download your certificate.
You can also access it from your Cademy account:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Participants, click the three dots located next to your name.
- Select Get Certificate.
Where can I access the course material?
To access the course materials, such as presentations and recordings:
- Log in to your Cademy account from https://cademy.io
- Click on My Account from the top-right corner.
- From the drop-down menu select My Courses and Bookings.
- Choose the relevant course.
- Under Extra Details, you will find all the available course materials.
What is the HRDA?
The Human Resource Development Authority (HRDA) of Cyprus is a semi-government governmental organisation that supports the development of workforce skills through training and development initiatives. Eligible training programmes approved by the HRDA may qualify for a subsidy, reducing the participation cost for eligible organisations and individuals, subject to the HRDA's terms and conditions.
Who is eligible for the HRDA subsidy?
The HRDA subsidy is available to:
- Companies registered in Cyprus that are applying for their employees.
- Unemployed individuals who meet the eligibility requirements (see the FAQ below for required documents).
- Self-employed individuals registered as self-employed in their ERMIS profile.
To receive the subsidy, eligible persons must attend at least 75% of the course.
What is ERMIS?
ERMIS is the online platform of the Human Resource Development Authority (HRDA) of Cyprus, used for managing training programme registrations, participant details, subsidy applications, and attendance records. All participants attending HRDA-approved courses must have an ERMIS profile and use the platform’s attendance register to check in and check out during each course session. https://ermis.anad.org.cy/
What is the process for attending an HRDA-approved course?
To attend an HRDA-approved course, you must:
- Register for the course through the EIMF website.
- Create the necessary ERMIS profile(s).
- Register for the course through ERMIS.
- Complete any additional HRDA requirements if you are applying for the subsidy as an unemployed or self-employed individual.
- Log onto ERMIS and check in through the relevant attendance register when you join the course session and check out when you leave each course session.
See the FAQs below for detailed instructions.
Is an ERMIS profile required?
Yes. ALL participants attending HRDA-approved courses must have an ERMIS profile, whether applying for the subsidy or not.
- Companies applying for the HRDA subsidy for their employees:
- The company must have an ERMIS profile as a Legal Entity.
- The company must have their Employer role approved on the ERMIS system.
- Each participating employee, as well as a company authorised person and the company’s director, must have an ERMIS profile as a Natural Person
- The employees' and representatives’ profiles must be linked to the company's ERMIS profile.
- All Individuals:
- Must have an ERMIS profile as a Natural Person.
You can create or access your ERMIS profile here: https://ermis.anad.org.cy/
How do I register for an HRDA-approved course through ERMIS?
After booking your course through the EIMF website, you must also register through ERMIS, provided that the required profile(s) have already been created.
- If you are registering as an individual:
You must register through your personal ERMIS profile.
- If a company is applying for the HRDA subsidy for its employees:
- Registration must be completed through the company’s ERMIS profile.
- The company profile used for registration must match the payroll company where each participant is employed.
For example: If your organisation includes multiple companies, make sure each participant is registered under the correct company profile.
Around one week before the course starts (or immediately after booking if you register less than one week before the course), we will email you the HRDA course details and instructions on how to complete your ERMIS registration.
What documents do unemployed individuals need to apply for the HRDA subsidy?
When registering for the course through ERMIS, you must upload both of the following documents obtained from the Public Employment Service:
- A referral for participation in HRDA Multicompany courses (Παραπεμπτικό για Πολυεπιχειρησιακά Προγράμματα της ΑνΑΔ).
- An ES19 form confirming that you were unemployed from at least the course start date.
What do self-employed individuals need to do to apply for the HRDA subsidy?
You must update your ERMIS profile:
- Log in to your ERMIS profile and select the Self-employed role from the available roles.
- Complete and submit the request.
- Once your request has been approved, you can register for courses and apply for the HRDA subsidy as a self-employed individual.
When submitting your request, you must upload one of the following:
- A confirmation letter from the Social Insurance Services confirming acceptance of your registration as a self-employed person.
- A Confirmation letter from the Social Insurance Services confirming your self-employed status.
- Proof of payment of Social Insurance contributions for the most recent quarter (available through SISnet).
Is the check-in and check-out process in ERMIS mandatory?
Yes. All participants must log onto the ERMIS system and check onto the attendance register when they join a course session and check out when they leave a course session, as HRDA records attendance.
To receive the subsidy, eligible persons must attend at least 75% of the course. Check-ins and check-outs reflect actual attendance.