IMH is organising the 7th International Compliance Forum to discuss the latest challenges facing the global compliance and ethics community. The Forum is intended as a platform to help facilitate discussions on the benefits of compliance management in business and more importantly, the return on investment of compliance. This year’s Forum will welcome a number of high-caliber international speakers who will discuss the changing role of compliance over the years, and how effective compliance management can lead businesses into the future.
The compliance landscape in 2021 is filled with truly unique challenges as the COVID-19 pandemic continues to influence the operating landscape for organisations across the world, and the focus for businesses turns to preparing for a post-COVID-19 environment. An evident result of the crisis has been the additional responsibility placed on compliance professionals to identify, mitigate and remediate newly introduced risks to business operations. COVID-19 consequences proved beyond reasonable doubt that compliance function has been the key function to address effectively the associated risks with this pandemic, but most importantly, drive risk accountability and ownership by all businesses in the new era as the global economy restarts and sets stronger foundations for the future.
Disruptions caused by the pandemic require the exploration of innovative business approaches to generate sustainable revenue streams in well-governed institutions. Many of these opportunities focus on alternative business arrangements and go-to-market strategies that often carry substantial compliance risks for a company. These unchartered territories may cause increased misconduct by companies as they feel pressure to bypass processes to get back to “business as usual”. And while enforcement may have slowed given the challenges of collecting evidence and interviewing witnesses, regulators remain focused on charging corporations and individuals for misconduct. Maintaining an effective compliance programme therefore remains of outmost importance as companies continue to operate throughout the COVID-19 crisis, and so business leaders must focus on addressing the most significant risks to their organization, both during and following this pandemic, to help protect the business and allow it to emerge post-COVID-19 on a much stronger and sustainable ground.
- Corporate Governance
1.1. The view of the Associations
How good governance fosters sustainability
Public trust and confidence in business leaders are boosted by sound corporate governance. As corporate social responsibility (CSR) and environmental, social, and governance issues (ESG) gain increased attention, corporations are becoming more responsible and accountable to their stakeholders. Sustainability ultimately improves corporations’ ability to flourish and thrive. This is the most significant reason why businesses should pay more attention to sustainability.
- EU Taxonomy and environmental reporting (SFDR)
- Shareholders’ ESG activism and directors’ remuneration
- The implementation of the Shareholder Rights Directive (SRD II)
- Greenwashing traps
- Individual and collective assessment of BoDs under the ESG spectrum
1.2. Panel discussion with international practitioners
Corporate governance in practice
Every business should consider corporate governance to be an advantage, rather than a requirement. Ethical and transparent corporate governance should be the goal of all businesses. In order to balance profitability with a company’s obligations to investors and other stakeholders, this approach to governance is crucial.
- Regulatory Compliance
- Keynote speech by George Theocharides, Chairman of CySEC – invited
2.1. Regulatory Technology (RegTech)
The growing importance of RegTech
As technology advances, money laundering and terror financing methods continue to evolve, prompting financial institutions to ensure they align with their regulatory environments and are able to stop criminals from misusing their services. To detect threats and adapt to evolving regulations, firms must seek out suitable technology and software options to deal with the increasingly complex data demands of the financial landscape.
2.2. New Trends in Regulatory Compliance
Keeping up with regulatory changes
Keeping up with regulatory changes is crucial in an environment where norms are evolving and enforcement efforts are increasing. As regulatory changes continue unabated, compliance professionals must follow international laws and regulations that are pertinent to their companies. If they do not, they are at risk. A company’s best course of action needs to be determined by gathering and analyzing new information from regulators, governments, and related agencies.
3. Anti-financial Crime & Counter Terrorism Finance
3.1. Keynote speech
3.2 Authorities / associations
Strengthening supervision and enforcement of money laundering rules
Money laundering scandals have been widely reported in recent years. The viability of a bank and the strength of the financial system can be affected by money laundering issues. To protect the integrity and stability of the international financial system and to make it increasingly difficult for those who engage in unlawful activities to profit from their criminal activities, the EU and the global AML/CFT frameworks need to be continuously upgraded.
3.3 Suggested panelists: AML Directors / managers
Sound management of risks related to AML
In order to protect the safety and soundness of banks, and the integrity of the international financial system, it is imperative that AML/CFT policies and procedures are implemented in a robust manner. If sound risk management is inadequate, banks face severe risks, including operational, compliance, and reputational risks. Banks who fail to follow appropriate risk management policies, procedures, and controls incur additional costs. Most likely, these costs and damages would have been avoided if the banks had maintained effective AML/CFT policies and procedures.
- Economic Sanctions
4.1. The regulators view
The legitimization of sanctions as an economic weapon
In a globalized world, financial tools have become more widely used for geopolitical purposes and systemic rivalry. As evidenced by the international sanctions imposed on Russia for its military aggression against Ukraine, economic warfare is the most critical factor that will shape bilateral relations today. Sanctions are more powerful than ever today because of economic dependencies and because they are considered a tool to avoid direct confrontation that could eventually lead to war.
Challenges in implementing the sanctions against Russia
Even though the boundaries between business and politics have never been as clear as many believed, managers today are increasingly required to provide justifications not only for their own firms’ ethical positions, but also for the political positions of their partners (or partners’ countries). Typically, sanctions were adopted and implemented over some time before the Russian aggression against Ukraine, with either little teeth or many loopholes. This time, sanctions were swift and severe, forcing firms to make quick decisions. Firms should take note of this precedent.
Marios Skandalis is a Fellow member of the Association of Chartered Certified Accountants (UK), a licensed member of the Association of Certified Fraud Examiners (US) and a Fellow member of The Chartered Governance Institute – ICSA (UK). He is also a Fellow member of the International Compliance Association (UK) and a professional member of the Society of Corporate Compliance and Ethics (US). Today he is the Director of the Group Compliance Division of the Bank of Cyprus Group. His professional career commenced in 1995 when he served as an Audit Supervisor and a Senior Management Consultant with Ernst & Young. Mr. Skandalis is the President of the Cyprus Integrity Forum (CIF) and the Vice-President and founder member of the Association of Certified Fraud Examiners (Cyprus). He is also a former Board member of the International Advisory Board of the International Compliance Association (ICA, UK). Mr. Skandalis is the past President of the Institute of Certified Public Accountants of Cyprus (ICPAC) and the former Executive Vice-President and founder member of Transparency International (Cyprus). Mr. Skandalis is the winner of the 2016 Banker of the Year Award – Cyprus by the AI Magazine in the United Kingdom. He is also the winner of the 2017 American Academy Nicosia Alumni Achievement Award in recognition of his remarkable success and achievements in his chosen career of compliance, corporate governance and anti-financial crime
Minister of Foreign Affairs, Republic of Cyprus
Nikos Christodoulides was born on 6 December 1973 in Paphos. He holds a Bachelor of Arts in Political Science, Economics, and Byzantine and Modern Greek Studies from City University of New York, Queens College, with postgraduate studies in Political Science at New York University and Diplomatic Studies at the University of Malta. He holds a doctorate from the Department of Political Science and Public Administration of the University of Athens. He was a career diplomat between 1999 and 2013. During this time he served as Director of the Office of the Minister of Foreign Affairs, Spokesperson of the Cyprus Presidency of the Council of the EU in Brussels, Deputy Chief of Mission at the Embassy of Cyprus in Greece, Director of the Office of the Permanent Secretary of the Ministry of Foreign Affairs, and Consul General at the High Commission of the Republic of Cyprus in the UK. Prior to his appointment as Minister of Foreign Affairs, he served as Director of the Diplomatic Office of the President of the Republic of Cyprus (2013- 2018) and Government Spokesman (2014-2018). He was a Lecturer and Research Associate at the Department of History and Archaeology of the University of Cyprus between 2007 and 2010. He is the author of two books, Plans for Solution of the Cyprus Problem 1948-1978 (2009) and Relations between Athens and Nicosia and the Cyprus Problem, 1977-1988 (2013). He has also published extensively in domestic and international journals.
Ambassador, Embassy of the United States of America to Cyprus
Prior to her appointment as U.S. Ambassador to Cyprus, Judith Garber served as the Acting Assistant Secretary and Principal Deputy Assistant Secretary of the Bureau of Oceans and International Environmental and Scientific Affairs. In that capacity she led U.S. diplomacy on oceans, climate, space, health, wildlife trafficking, and fisheries, among other issues. A career Foreign Service Officer with the rank of Career Minister, she joined the Foreign Service in 1984. Her previous diplomatic assignments have included Ambassador to Latvia from 2009-2012, Deputy Assistant Secretary for North and Central Europe, Director for Overseas Development Finance as well as postings in Spain, the Czech Republic, Israel and Mexico. Prior to joining the Foreign Service, the Ambassador worked at the Board of Governors of the Federal Reserve and the U.S. Treasury.
Myrto Zambarta was appointed Head of the Representation of the European Commission in Cyprus on 1st September 2021. She joined the European Commission in 2005, in the Directorate-General for Trade, where she spent most of her Commission career, working on issues such as financial services, trade defence and investment and negotiating EU trade agreements. She has also served as a Member of the Cabinet of Commissioner Christos Stylianides in the Juncker Commission, dealing with humanitarian aid and crisis management. Prior to joining the European Commission, she worked as a solicitor for the London firm Travers Smith. She is a graduate of Cambridge University, UK, where she read Law. Her postgraduate studies were in Banking and Finance Law (LL.M) and Finance (MSc) from the University of London. She speaks English and French; Greek is her mother tongue.
President, The Chartered Governance Institute UK & Ireland, UK
Victoria Penrice is President of The Chartered Governance Institute UK & Ireland, a position she has held since August 2020. Victoria was Group Company Secretary for Seadrill Limited, a Bermuda registered company listed on the New York Stock Exchange and the Oslo Bors, until June 2020. She joined during a major refinancing which involved placing the group in US Chapter 11 bankruptcy protection, restructuring the group and successfully relisting the emerging company on both exchanges. She has held consultancy roles at Rolls-Royce Holdings plc and Royal Mail Group plc. She has also held the position of Company Secretary at The British Land Company PLC, Eurasian Natural Resources Corporation plc and ACE European Group Ltd. Between 2006 and 2010, Victoria served on the committee of the Association of Women Chartered Secretaries (AWCS), serving as President from 2008 until 2010, and continues to be involved with the association, mentoring governance professionals through the AWCS Mentoring Programme. A seasoned writer and conference speaker on company secretarial and governance matters, Victoria has also previously taught corporate secretaryship to students of the Institute’s qualifying scheme at London Metropolitan University and was a member of the GC100 Group from 2011-2014.
MBE, Director, Institute of Business Ethics
Dr. Ian Peters is the Director of the IBE, ensuring that the Institute meets its charitable aims of raising awareness and spreading best practice in the field of business ethics. Ian’s career has spanned business policy, government relations & corporate communications. He has extensive experience of working at the highest levels with business, government, regulators and the professions. He has worked with the Confederation of British Industry, Burson-Marsteller, British Chambers of Commerce, Engineering Employers Federation and the Chartered Institute of Internal Auditors. And has held several non-executive & public appointments. In 2015 Ian was awarded an MBE for services to regulatory reform.
President, International Compliance Association, UK
Bill Howarth is the President of the International Compliance Association (ICA), an organisation of which he was the founder and CEO for 15 years. Originally from a legal and academic background Bill spent more than 30 years teaching at universities across the world before joining ICA, where he designed, built and delivered the education frameworks for the ICA. Bill advises regulators, professional bodies and training organisations in the structuring of certified education. He has written extensively in a range of disciplines, including law, wealth management, compliance and anti-money laundering and speaks extensively at international conferences.
Senior Strategic Adviser, Institute of Chartered Accountants in England and Wales, UK
Robert Hodgkinson is a member of the Leadership Team of ICAEW and Senior Strategic Adviser to the Chief Executive and Board. Until April 2021, Robert was Executive Director, responsible for ICAEW’s specialist faculties and thought leadership programs. He joined ICAEW in 2002 from Arthur Andersen where he became a partner in 1992 after graduating in Philosophy, Politics, and Economics from Oxford University in 1980 and qualifying as an ICAEW Chartered Accountant in 1983. From 2000 to 2004 Robert sat on the board of the European Federation of Accountants (FEE, now Accountancy Europe) and was also a board member of the International Federation of Accountants (IFAC) from 2007 to 2013.
Chief Engagement and Strategy Officer, The Society of Corporate Compliance and Ethics and Health Care Compliance Association, US
Adam Turteltaub is the Chief Engagement and Strategy Officer for the Society of Corporate Compliance and Ethics and the Health Care Compliance Association. He joined SCCE&HCCA in 2008 with more than seven years of experience working with ethics and compliance professionals. Immediately before his time at the SCCE&HCCA, Adam was Corporate Relations Executive for LRN, a compliance solutions provider. Adam is a regular speaker at SCCE&HCCA events. He has also spoken at conferences for the Institute of Internal Auditors, the International Association of Privacy Professionals, the Practical Law Institute and the National Contract Management Association.
FCG, Chartered Governance Professional, UK
Simon Osborne is the Joint Head of CGI Board Evaluation, a governance consultant, and trainer. He is a Chartered Secretary and Governance Professional; a solicitor of the Higher Courts of England and Wales; an Executive Fellow with the London Business School Leadership Institute; an Adviser to the International Corporate Governance Network; and vice-president of the charity, Railway Benefit Fund. In 2019/2020, he served as Principal Adviser to the Astana International Financial Centre to develop the AIFC Corporate Governance Principles and Guidance. He is a former director, company secretary, and general counsel; and a former CEO of The Chartered Governance Institute UK and Ireland.
CEΟ, Dynamic Counsel, Cyprus
Expert on corporate sustainability and non-financial performance and risk, Natalia is an independent, non-executive board member of two listed companies, Adjunct Professor at Georgetown University and Advisor to JUST Capital. Natalia founded and is CEO of Dynamic Counsel, which provides governance, risk management and transaction support to enhance corporate value and manage change. She is a leading advocate of women’s leadership and diversity & inclusion. Previously, Natalia was General Counsel (Investment Banking & Capital Markets) and Head of Risks & Controls of a global investment bank where she drove business transformation, cultural change and crisis management.
Andreas Yiasemides is the President of the Cyprus Investment Funds Association (CIFA) and Partner, in charge of Funds Services at PwC Cyprus. On his graduation from the University of Manchester with a first-class degree in Economics, he joined PwC in 1999 and qualified as a Chartered Accountant (FCA). He continued his career with the Bank of Cyprus, holding various positions including heading the Custody and Trusts Unit. He then moved on to an organization of professional services where he set up and led the Fund Services Unit. He has served as a member of the Board of Directors of the Bank of Cyprus and of the Central Bank of Cyprus and is the President of the Board of Directors of the Cyprus Investment Fund Association (CIFA). He is also a member of the Cyprus National Advisory Council of the Charter Institute for Securities and Investment (CISI).
Secretary of the Board, Cyprus Integrity Forum
Branka van der Linden holds Bachelor in Business Administration and Master of Laws in International Business. Her background is diverse and her core lies in compliance and legislation. She is the Secretary of the Board of the Cyprus Integrity Forum (CIF) and Board Member of the Association of Certified Fraud Examiners (ACFE) Cyprus Chapter. She is active compliance and anti-fraud professional, with over 15 years’ experience in AML, Corporate Governance and Risks. Branka is a Human Resources Development Agency Certified Trainer and Certified AML Compliance Officer by CySEC. She has received multiple honours and awards for her work and initiatives. Branka consults and works closely with startups, leads numerous projects through Meaningful Synergies and believes the success of the business lies in high ethics and integrity.
Dr. Christos Ph. Clerides is the President of the Cyprus Bar. He is a Professor of Law and Head of the Department of Law of Frederick University. He is co-founder of Phoebus Christos Clerides and Associates LLC with his father, now deceased, ex Minister of Justice and Member of the House of Representatives. Dr. Clerides was elected as a member of the House of Representatives 2001-2006. He is a holder of an LL. B Hons (1976) and LL.M 1977 in Maritime Law and Insurance, University College, London and a Ph.D holder in European Law of Kings College (1981). He has been practising in Law since 1982 and he is a litigation advocate.
Assistant Director, Head of the Supervisory Governance & Authorisations Department, Supervision Division, Central Bank of Cyprus
Constantinos Trikoupis is the Head of the Supervisory Governance & Authorisations Department in the Supervision Division of the Central Bank of Cyprus. He has broad international experience spanning over 30 years in financial services, financial stability, taxation, and accounting. He joined the Central Bank of Cyprus in 2000 from the Cyprus Inland Revenue Department. Prior to that, he was working for Arthur Andersen in the UK, where he became a manager in 1991 after qualifying as a Chartered Accountant. He has a Degree in Accounting from the University of East Anglia. He has first-hand experience in negotiating and implementing European Union and euro area-specific financial sector legislation, including four years as the Financial Services Attaché for banking matters in the Permanent Representation of the Republic of Cyprus in the EU in Brussels.
Kyriakos Iordanou is the General Manager of the Institute of Certified Public Accountants of Cyprus (ICPAC) since January 2012. Prior to that, he served as a Council member between 2002 to 2011, rising to the position of the Vice President (2009-2011). Kyriakos is a Fellow of ACCA, a member of the Chartered Institute of Public Finance and Accountancy (CPFA) and a Fellow member of the Institute of Chartered Secretaries and Administrators (FCIS), as well as a Certified Internal Auditor (CIA) and a member of the Chartered Institute of Marketing (MCIM). Kyriakos holds a Master’s in Business Administration degree (MBA). His professional career began in January 1995 in the banking sector. He then worked as a financial controller in public and private companies, as well as a financial and business advisor to firms in Cyprus and abroad until 2004. From 2004 till 2011 he worked for the Human Resource Development Authority of Cyprus, initially as the chief accountant and then as the internal auditor. He also served as a board member of the Cyprus Institute of Internal Auditors (2006-2011). In 2019, Kyriakos was elected as the President of the Parallel Parliament for Research, Innovation, and Digital Governance.
Senior Manager, Association of Cyprus Banks
Michael Kronides was born in Nicosia in 1971 and holds a Master in Business Administration (University of Surrey) and a Bachelor of Commerce (University of South Africa). He worked for two years (1998-2000) at Bank of Cyprus, initially at the Representative Office in South Africa and also the International Business Unit. He subsequently worked for six years (2000-2006) at HSBC Bank plc at the position of Head of Private Banking. From 2006 to date, he has been employed at the Association of Cyprus Banks at the position of Senior Manager. Currently, he oversees specialized banking matters relating to the supervisory and regulatory framework and is a member of the Banking Supervision Committee of the European Banking Federation.
Financial Crime Compliance Practice Lead for Southern Europe, Bureau van Dijk - A Moody’s Analytics Company, Italy
Nicola Passariello is the Financial Crime Compliance Practice Lead for Southern Europe for Bureau Van Dijk, a Moody’s Analytics company in Milan. Nicola is a deep subject matter expert in financial crime prevention, and throughout his international career, he has gained extensive industry experience having worked for different global information providers and corporate governance advisors. Nicola also brings valuable regulatory experience having participated to the AMF – the French Market Regulator Commission. Nicola holds an Executive MBA from the French business school ESCP Europe and the International Diploma in Financial Crime Prevention awarded by the ICA.
David Wildner is the Deputy Global Head of Financial Crime Compliance (FCC) as well as the Global Head of Anti-Money Laundering for BNY Mellon, responsible for all aspects of FCC across the enterprise. David is also the chairman of BNYM’s global Anti-Money Laundering Oversight Committee. Previously David was the US Head of AML. David has 18 years of experience in the AML field and has also held roles at HSBC and Citi Private Bank. Prior to working in the financial services area David spent 20 years in US Law enforcement conducting international money laundering and narcotics trafficking investigations.
Compliance Expert – CGSS, LexisNexis Risk Solutions, France
Vincent works as a Compliance Expert for LexisNexis Risk Solutions. His responsibilities involve monitoring worldwide anti-financial crime Regulatory trends, influencing product strategy and business growth. With 10 years of experience in various compliance roles, Vincent provides expertise on AML/CFT and sanctions compliance throughout the LexisNexis Risk Solutions business lines and the wider Financial Crime Compliance industry. Vincent is certified by ACAMS as a Global Sanctions Specialist (CGSS) and holds Master’s Degrees in International and European Relations from Linköping University, Sweden & International Business from INSEEC, France.
Data Strategy and Governance, FedEx Express, Netherlands
Anwar is a globally recognised authority in Data Strategy and Governance. For the last 15 years, he has spoken at numerous events covering Analytics, Finance, HR, IT, Legal, Mobile, Shared Services etc. Anwar’s keynotes, panels and Masterclasses are a balanced blend of cross-functional, business and IT perspectives presented in a logical manner. Anwar has developed his own unique Data Governance methodology and deep-dives into the critical areas that companies often struggle with. His approach has been adopted by many organisations, software companies and consulting firms in the USA, Australia, Asia and Europe.
Demetris Nicolaou is the Chief Digital Officer at Bank of Cyprus and is responsible for the Bank’s Digital Channels, the Digital Economy Platform and the delivery of the Digital Transformation initiatives. He joined the Bank of Cyprus in 2017 as Manager Digital Transformation to oversee the delivery of the Bank’s Digital Transformation program. Prior to joining Bank of Cyprus, Demetris held various technology roles in the UK working for UBS Investment Bank from 2007 until 2012 and Citibank from 2012 until 2016 where he was most recently the Global Head of Futures eTrading technology. Upon his repatriation to Cyprus, he took the role of Chief Product Developent Officer at FxPro Financial Services. Demetris holds a BEng in Computing from Imperial College, London, UK and is also a CFA Charterholder.
Director of Compliance Support Services, MAP S.Platis Group, Cyprus
Alexandros Constantinou is the Director of Compliance Services of MAP S.Platis. He has extensive experience in advising international financial services organisations on regulatory and compliance matters. Alexandros is also a Director and assisted in the founding of MAP FinTech, a leading awardwinning UK and EU regulatory technology provider for the financial services industry, specialising in reporting solutions and more. Alexandros is an MCSI member of CISI and holds both the Advanced and the AML certifications from CySEC. He also holds a BSc in Computer Science from the University of Reading (UK) and an MSc in Finance and Investment from the University of Edinburgh (UK). In addition, Alexandros is a registered Mediator from the Cyprus Ministry of Justice and Public Order concerning commercial disputes.
Managing Director, Ispiral
Christos Ttiniozou has worked in implementing several Regulatory Technology projects in Europe and the Middle East with huge experience and knowledge in automating Money Laundering & Fraud Detection, and prevention. He is the Chief Product Manager of RegTek+ an all-in-one platform for handling Onboarding, KYC, Risk Assessments, Transaction Monitoring, and Transaction Screening.
George P. Nicolaou is a Director at K. Treppides & Co Ltd and in particular in the International Compliance and Advisory Services department Leading the Funds and Fund Management Services including the Fund Administration Division. George holds a BA (Hons) in Accounting and Finance and is a Fellow Chartered Certified Accountant (FCCA). He is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC) and member of the investment Funds Committee of ICPAC. He is also a member of the Cyprus Investment Funds Association (CIFA). George P. Nicolaou has more than 14 years of international robust experience in the Financial Services, Assurance and Consulting fields having worked in Cyprus, UK and Malta. Over the years he has been specialized in the financial services industry by focusing on the Banking and Capital Markets, Funds, Fund Management companies and Asset Managers. He has solid and extensive knowledge and technical expertise on Fund Management Companies including Alternative Investment Fund Managers, Funds Structuring, Authorization, Regulatory Compliance Consulting and ongoing Fund Administration.
Chief Compliance & Innovation Officer, ECOMMBX, Cyprus
Gregory Dellas is the Chief Compliance and Innovation Officer at ECOMMBX. Previously, at the Bank of Cyprus, Gregory served as Director Wealth & Markets and spearheaded the AML Risk Management team within International Banking Services, responsible for high-risk clients and transactions and for providing guidance and specialized training to management and staff. Before that he was Group MLRO for Cyprus Popular Bank, and held a number of other senior management positions.Gregory is the founder and Chair of the ACAMS Cyprus Chapter, since 2015. He holds several international professional certifications including CGSS, CAMS (Advanced) - Risk and CAMS (Advanced) – Audit. He is a certified CAMS instructor and GCI accredited trainer, a Fellow of ICA (FICA) and a long-standing member of the AMLP Forum and IGCA. He also holds an MBA from Lancaster University in the UK and a BSC (Hons) Industrial economics from the University of Warwick
Commercial Manager, eBOS Technologies Ltd, Cyprus
Panos Kyriakides is a business professional with more than twenty years of experience in the Financial and Banking sector. Throughout the course of his career, he has gained valuable insights in communicating with people at all levels and building and maintaining sound business relationship with customers and stakeholders. He has experience in compliance and due diligence of clients, analyzing and understanding clients’ needs, promoting business products and services to potential clients while strictly streamlining processes in line with regulations and ensuring compliance to enforced practices and policies. Panos is currently the Commercial Manager of eBOS.
Head of Business Insights, ACCA, UK
Narayanan Vaidyanathan comments on issues pertinent to emerging technologies, technology policy and human-centred technology. Areas of interest include AI and machine learning, fintech, blockchain, digital ethics, and the role of emotional intelligence in a digital world. He’s presented extensively around the world, written on a range of topics in his areas, contributed to governmental policy groups and collaborated with standard setters on non-authoritative guidance. He oversees a team of research/ policy specialists in areas including sustainability, economics, and the public sector; and has a parallel interest in how these might connect to his core interests, such as via Sustainable AI.
The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Group’s digital infrastructure is proving successful, transforming the Bank to a modern, customer-centric hub offering banking and broader financial digital products and services in Cyprus. The Group has set the foundations to enhance its organisational resilience and ESG agenda and continues to work towards building a forward-looking organisation with a clear strategy supported by effective corporate governance aligned with ESG agenda priorities, aiming to lead the transition of Cyprus to a sustainable future.
Bureau van Dijk, a Moody’s Analytics company captures and treats company information for better decision making. We provide extensive company data, corporate ownership structures and adverse data and media that delivers information on your customers, business partners and the individuals behind them. Orbis, the world’s most powerful comparable data resource on private companies, contains information on about 400 million companies; including directors, company structures, beneficial owners, PEPs, Sanctions, adverse news.
eBOS is an innovative client-focused software company providing state-of-the-art RegTech and Fintech solutions that automate risk and compliance management for organisations on a worldwide basis and lead them to digital transformation. With a product portfolio of numerous web-based, technologically advanced, and customisable regulatory technology applications, they pioneer in RegTech and Fintech. Their core offering – WiseBOS Suite, is a revolutionary fully integrated business aligned solution, designed to help manage risk, carry out customer due diligence and follow the best security standards, easily adaptable to the ever-changing business needs of companies. EU headquartered in Cyprus, eBOS operates within a network of representative offices closely collaborating with strategic partners in the rest of Europe, in the MENA region and in the USA.
At ECOMMBX we specialize in B2B e-account management, cross-border payments and competitive currency conversions. To ensure the most cost-effective and efficient execution of all your e-banking transactions, our innovative serving model is based on four cornerstones: Advanced technology that connects to the global banking industry, customized connections with banking partners around the world, stringent security and maximum speed. The result is satisfied customers that rely on us for top-notch service.
Η Infocredit Group αποτελεί τον κορυφαίο πάροχο λύσεων σε θέματα διαχείρισης κινδύνων με εμπειρία πέραν των 45 χρόνων. Συγκεκριμένα, η Infocredit Group προσφέρει υπηρεσίες Διαχείρισης Πιστωτικού Κινδύνου, Κανονιστικής Συμμόρφωσης, Εταιρικής Διακυβέρνησης, Συμβουλευτικές υπηρεσίες, Ανάκτησης Οφειλών, Τηλεφωνικού Κέντρου και Επαγγελματικής Κατάρτισης. Μέσα από το αναγνωρισμένο δίκτυο στρατηγικών εταίρων της, όπως LexisNexis Risk Solutions (RELX Group), VinciWorks, ICSA, CICM, MACM, eID και Finclude, η Infocredit Group στοχεύει στην ενίσχυση των επιχειρήσεων με μια αξιόπιστη και ολοκληρωμένη σειρά εργαλείων που μπορούν να τις βοηθήσουν στην εκπλήρωση των οικονομικών, νομικών και ηθικών τους υποχρεώσεων. www.infocreditgroup.com
A global leader in the field of Regulatory Technology, iSPIRAL’s award-winning Solutions are tailor-made to resolve all your Fraud, KYC, AML, Governance-Risk, and Compliance challenges. Renowned in the Finance Industry, their one-stop software comprehensively addresses the compliance objectives and obligations set by worldwide regulators. Through the expert use of machine-learning technology, real-time activity monitoring, global partnerships, and data analysis, iSPIRAL ensures your organisation consistently delivers exceptional services to your clients around the world. www.i-spiral.com
MAP S.Platis is a leading financial services consulting Group with clients that include regulators, banks, funds and fund managers, investment firms, brokers, fintech firms, insurance firms and payment and electronic money institutions. Their expert team, currently comprising over 400 high-calibre professionals, provides unique and tailored solutions in licensing, regulatory compliance, risk management, internal audit, human resources, regulatory technology, information technology, business resilience, information security including cybersecurity, governance, executive training and innovation consulting to financial and other firms in the UK, Cyprus and the EU. www.mapsplatis.com
Prospectacy provides personal and corporate financial services that will help you make the most of the ever-shifting global economy. Whether you are considering investing, planning, and managing your personal wealth portfolio, their dedicated team of professionals will give you a competitive edge. Their proficiency includes personal and corporate taxation issues, property management, trust and inheritance planning and implementation, and many corporate services that can help you run your business, locally and internationally. If you are looking for a firm with the knowledge and professionalism, that offers complete services, look no further than Prospectacy LTD.
Treppides Group of Companies is the largest independent consulting Group in Cyprus having an established presence in Great Britain and Malta and employing approximate 200 professionals. The Group offers a full range of consulting and financial advisory, audit, tax and accounting services in a variety of business sectors. The Group, which started its operations in 1985, has 35 years of expertise and an elite team of experienced executives who can guide and assist businesses during the establishment process and subsequent operational activities globally.
Conferience is the ideal web app for event organizers, presenters, market researchers, and team leaders all over the world. Engage your audience in any kind of online or/and physical event, facilitating direct interaction among them. It is excellent for any kind of online or/and physical event, including lectures, presentations, webinars, conferences, forums, trade shows, polls, training courses, seminars, workshops, school classes, universities, focus groups, research & internal (corporate executive) meetings.
Who will attend?
• Compliance Officers
• Risk Officers
• Audit Officers
• Ethics Officers
• Privacy Officers
• Corporate Governance Officers
• Company Secretaries
• General Counsels
• Members of Boards of Directors
• Senior Management Executives
From which sectors?
• Accounting, audit, tax firms
• Banks and other financial institutions
• Insurance firms and re-insurance firms
• Law firms and legal consultants
• Financial services providers
• Corporate services providers
• Investment firms
• Law enforcement agencies
• Regulatory authorities
• Consulting firms
• Company formation and administration firms
• Wealth management firms
• Trust services providers
• Software/technology providers
• Healthcare & pharmaceutical providers
• Telecommunication service providers
• Energy suppliers
• Transportation providers
Founded in 1904, the Association of Chartered Certified Accountants is the most forward-thinking global professional accounting body. ACCA offers the Chartered Certified Accountant qualification, which is recognised in over 180 countries. ACCA supports more than 233,000 fully qualified members and 536,000 future members worldwide. They are among the world’s best-qualified and most highly sought-after finance professionals - and they work across different sectors and industries. ACCA Qualification is the only international qualification recognised by ICPAC (ΣΕΛΚ) within the Joint Exam Scheme. This means that all the ACCA members are registered with ICPAC and can work as auditors in Cyprus.
The Chartered Governance Institute UK & Ireland is the professional body for governance and the qualifying and membership body for governance professionals across all sectors. One of nine divisions of the global Chartered Governance Institute, which was established 130 years ago, its purpose under Royal Charter is to lead ‘effective governance and efficient administration of commerce, industry and public affairs’ working with regulators and policy makers to champion high standards of governance and providing qualifications, training and guidance. As a lifelong learning partner, the Institute helps governance professionals to achieve their professional goals, providing recognition, community and the voice of its membership. www.cgi.org.uk
The International Compliance Association (ICA) is a professional membership and awarding body open to compliance professionals at all stages of their career. As part of their ongoing commitment to setting the standard, they provide a wealth of knowledge, tools, resources and practical support. They are the leading provider of professional, certificated qualifications in anti-money laundering; governance, risk and compliance and financial crime prevention. An internationally recognised organisation, their qualifications are awarded in association with Alliance Manchester Business School, the University of Manchester. Their global community has members across 130 countries. Being a member demonstrates a commitment to the highest standards of practice and conduct, enhances your professional reputation and employability and significantly protects and improves the performance of your organisation. Recognition. Community. Knowledge. The benchmark of excellence. www.int-comp.org
The International Compliance Professionals Association (ICPA) is a non-profit global trade compliance community with over 3,000 members worldwide. Their mission is to serve the needs of professionals engaged in international trade compliance. They host educational conferences in the U.S., Canada, Europe and Asia covering import, export, supply chain and more. They library is a great resource for information on industry related topics as well as their Question-and-Answer Database. Membership is complimentary the first year to regular individual members. To find out more visit icpainc.org
The IBE’s purpose is to champion the highest standards of ethical behaviour in business. It believes that an investment in business ethics drives sustainable business benefits, including higher levels of staff engagement, better and more consistent decision-making, and heightened levels of trust. The IBE advocates the importance of ethical behaviour in business, advises businesses and business leaders on how to achieve the highest standards of behaviour based on ethical values and undertakes research and thought leadership in support of the application of ethical values at all levels in organisations. Find out more: www.ibe.org.uk - Follow on: @IBEUK
ICAEW is a world leading professional body of Chartered Accountants with 189,500 members and students. ICAEW Chartered Accountants are talented, ethical and committed professionals, which is why all of the top 100 Global Brands employ chartered accountants. They attract talented individuals into the profession and give them the skills and values they need to build resilient businesses, economies and societies, while ensuring their planet’s resources are managed sustainably. The collective skills of their membership are the reason they believe that chartered accountancy can be a force for positive changes, which can help to create strong and sustainable economies.
The ILN is a non-exclusive network of high-quality mid-sized law firms, which operates to create a global platform for the provision of legal services, particularly for clients with international needs. With a presence in 67 countries, it is exceptionally well placed to offer seamless legal services, often of a cross-border nature from like-minded and quality legal practices. Today, the ILN remains at the very forefront of legal networks in its reach, capability, and depth of expertise.
The Society of Corporate Compliance and Ethics (SCCE) is a non-profit member-based association for compliance and ethics professionals worldwide and across all industries. Founded in 2004, we provide training, conferences, certification and networking opportunities designed to help compliance and ethics professionals develop more effective programs that prevent, find and fix legal and regulatory issues. SCCE offers its programs across the US, South America, Europe and Asia. www.corporatecompliance.org
Being one of the 190+ chapters of the Association of Certified Fraud Examiners (ACFE), the Cyprus Chapter of the ACFE is an anti-fraud organization that serves professionals, students and communities in Cyprus. The objec¬tive of the Cyprus Chapter of the ACFE is to promote improved fraud detection and deterrence. This is achieved through enhancement of knowledge, promotion of networking opportunities and support for its members and the business, academic and government community.
Through its representation of ten member banks, that hold more than 90% market share and provide a full range of banking services, the Association of Cyprus Banks (ACB) is the voice of the Cyprus banking system. Its primary aim is to promote best practices for the interest of the banking sector and the local economy as a whole. The ACB is a non-profit organization through which common positions are formulated and promoted on banking and financial issues, when local legislative and governmental policies are determined.
Cyprus Bar Association is the professional body of lawyers with 4273 members. Cyprus Bar Association was established under the Advocates Law Chapter 2 in 1960 and it has been operating since then. It is the Regulatory Body and among its powers is to maintain the honour and independence of the Bar and its defence in relation to the judiciary and the executive and to regulate the practice and etiquette of the profession. It is the competent authority for lawyers under Cyprus legislation in accordance with section 59 (4) of the Prevention and Suppression of Money Laundering of Money Laundering Activities Law of 2007 (L. 188 (I)/2007) as amended. Cyprus Bar Association is a member of the Council of the European Bar Association (CCBE) and a member of the International Bar Association (IBA).
Created in 2003, CFA Society Cyprus is dedicated to professional excellence, integrity, education, volunteer service and strength of community. CFA Society Cyprus has over 200 Members representing all major banks and investment firms in Cyprus. The CFA Society Cyprus Members have earned the Chartered Financial Analyst (CFA) designation. Awarded only to a select group of investment specialists, the CFA charter requires its candidates to master a rigorous curriculum including investment valuation, portfolio management, asset allocation, economic and market analysis and ethical practices. CFA Society Cyprus is a local Society for CFA Institute, Charlottesville, Virginia and a Member of the CFA Institute Global Network of Societies. www.cfainstitute.org
The Cyprus Fiduciary Association (CYFA), established in 2011, is the representative body of regulated Administrative Service Providers (ASP’s) in Cyprus. With a vision to assist in forming a solid international business sector in Cyprus operating on high professional standards, ethics and integrity, the Association aims to serve industry providers by promoting their interests, raising sector awareness, supporting their operations, contributing to new legislations and delivering valuable training to professionals. The Association’s commitment to its purpose has established it among the most reputable and recognised organisations within the country, before public and regulatory authorities, other associations, as well as the business community in Cyprus and overseas.
The Cyprus Integrity Forum (CIF) was initiated in 2010, registered in the year 2011, and is today the leading institution in Cyprus for the fight against corruption and promotion of transparency. It is an independent, non-governmental, non-politically partisan, and non-profit organization. CIF collaborates with various organisations in Cyprus, Europe, and the USA. They effectively raise public awareness in all layers of society for combating corruption in their everyday lives. They aim to enhance the content and quality of public and corporate governance in all forms of business and ensure that the State and all Governmental Bodies act and behave in a manner that promotes transparency and ethics in all respects.
The Institute of Certified Public Accountants of Cyprus (ICPAC), established in 1961, is the professional body for the accountancy profession in Cyprus, currently tallying more than 5.200 members and 3.500 students. It provides the organisational framework for all professional accountants, supports and promotes the activities and interests of the accountancy profession, safeguards the reputation of the profession and ensures adherence to the Code of Ethics and the continuous professional development of the members. Furthermore, ICPAC is a competent authority and has been delegated the relevant tasks under the Law for the regulation of the audit profession, for Anti-Money Laundering purposes, for the provision of administrative and insolvency services. ICPAC is a key and active stakeholder in the economic affairs and development of the country, cooperating with the government, the private and public sector.
The Cyprus Institute of Internal Auditors was founded in 1998. Today it has more than 550 members and is governed by an elected Board of Directors of 10 members, which is supported by four Committees. The vision of the Cyprus Institute of Internal Auditors is to be the fundamental institution that represents, promotes and upgrades the Internal Audit profession in Cyprus. Its mission is the continuous promotion and recognition of the profession, as well as the enrichment of its members’ knowledge and skills by providing relevant educational and training courses.
Invest Cyprus (Cyprus Investment Promotion Agency) is the investment authority of the Government of Cyprus dedicated to attract and facilitate foreign direct investment into the country. In close collaboration with all governmental authorities and public institutions, as well as the private sector, Invest Cyprus is the country’s lead agent in establishing Cyprus as a world-class destination for international business activity and investments. Invest Cyprus’ mandate is to raise awareness of Cyprus as a destination for FDI across the globe, providing certainty around all aspects of operating a business in Cyprus and supporting potential investors in developing their business case for investment into the country.
ISACA Cyprus Chapter, the locally established chapter of ISACA International, is an independent non-profit organisation and its purpose is to help business technology professionals and their enterprises realize the positive potential of technology. Today, ISACA international serves more than 165,000 professionals in 180+ countries, who covers a variety of professional IT-related positions, information systems or IT auditors, internal auditors, governance, security and risk professionals, consultants, educators, and C-suite executives. They serve professionals in nearly every industry. ISACA engages in the development, adoption and use of globally accepted, industry-leading knowledge and practices for information systems and in the provision of the professional qualifications CISA™, CRISC™, CISM™, CGEIT™, CSX-P™, CDPSE™, ITCA™ and CET™.
ICLG.com is a global resource for legal reference, analysis and news, hosting an array of comprehensive comparative legal guides and research tools that cover law in more than 150 jurisdictions across 50 practice areas. ICLG.com also provides daily legal news and event directories. At the heart of ICLG.com is an international network of legal experts, whose knowledge and experience is highly valued by legal and business professionals around the world.
Where do you go to access free content on Regulation and Compliance, the Global Economic Outlook and Emerging Markets Outlook? Savvy Investor is a professional network for the investment management industry. With over 10,000 white papers on the site, and more than 59,000 members worldwide, Savvy Investor has quickly established itself as the world’s leading content hub for institutional investors. www.savvyinvestor.net
GOLD magazine was founded in 2011 as the first English-language business monthly in Cyprus. Today, it is not only synonymous with the promotion of good business practices but it has a unique and valuable readership of High Net Worth Individuals, international company executives, English-speaking Cypriot and non-Cypriot businessmen and women. GOLD provides a comprehensive and informed overview of the local business scene, the economy, and the market and has gained a reputation for its in-depth articles and revealing interviews with key local and international personalities. www.goldnews.com.cy
15 years ago, IN Business magazine began its ongoing relationship with the business world of Cyprus, profiling leaders and organisations, publicizing issues of importance and promoting best practices. Throughout these 15 years, we have shone the spotlight on countless examples of good business, photographed thousands of businesspeople and presented the most successful Cypriot enterprises to the broader reading public. To mark the magazine’s first 15 years, the November 21 issue of IN Business will be a special multi page anniversary edition that looks back over one and a half decades of business reporting, significant business and economic milestones, through articles, features and interviews with Cypriot business leaders and much more.
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