Financial Crime and Compliance MBA Postgraduate Taught - Variable 2022/23* & Variable 2023/24* Entry

Module Director

Name: Mr Ian Hardcastle MBA, FCIPD, FCBI

Email Address: ian.hardcastle@bangor.ac.uk

Phone Number: +44 (0) 1248 38 38 00

Module Overview

This module considers the theory and the practice of strategy formulation and implementation. There are many patterns and actions and business approaches which define an organization’s strategy and you will be afforded opportunities to identify those which are pertinent for financial services firms. The financial services sector is one of the most regulated industry sectors and the implications of this along with the characteristics of the service products will be noted throughout the module. The theory and principlesunderpinning business operations and activities will be explored and insights applied to financial services firms. In completing the units for the module, reference is made to services management and operations; the unique characteristics of services which may be a challenge or provide an opportunity in devising and implementing a unique and successful corporate strategy. As aspiring business leaders and future decisionmakers,it is essential that you can ascertain the essence of business operations and the factors which contribute to a firm’s competitive advantage.

Module Aims & Objectives

On completing this Corporate Strategy module, you will be expected to be able to:

• Critically appraise the theoretical contributions in the area of strategic management
• Analyse the role and influence of the environment (internal and external) on a firm’s strategic decisions
• Explain the essence of competitive advantage and the factors which contribute to a firm gaining and sustaining a competitive advantage
• Adjudicate on the extent to which stakeholders influence the design and implementation of a firm’s strategy
• Outline and explain what constitutes effective managerial leadership in achieving superior strategy execution and operating excellence

Key Text

Exploring Strategy – Text & Cases (9th Edition) Johnson, G. Whittingtong, R. Scholes, K. & Angwin, D.

Means of Assessment

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 - Strategy, Concepts & the Strategic Position

Unit 2 - Strategic Choices

Unit 3 - Strategy in Action

Module Director

Name: Prof. Olga Suhomlinova

Email Address: os22@leicester.ac.uk

Phone Number: +44 (0) 1248 38 38 00

Module Overview

This module looks at the key issues arising from contemporary research into human resource management (HR) and organisational behaviour (OB). It provides an integrated analysis of management, organisations and people and develops the conceptual, strategic and practical skills necessary for managers.

Module Aims & Objectives

On completing this Human Resources & Organisational Behaviour module, you will be expected to be able to:

• Be able to critically evaluate management & organisational theory and practice
• Be able to relate management theory to personal experience of a working environment
• Distinguish between types of organisational structure, culture and job design
• Appreciate the human resourcing aspects of managing and leading people
• Be able to critically assess the management processes involved in managing in an increasingly complex environment

Key Text

Organisational Behaviour: Improving Performance and Commitment in the Workplace (6th Edition) Colquitt, J. Lepine, J. and Wesson, M. - McGraw Hill

Means of Assessment

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 - Individuals & People

This unit aims to introduce you to the whole area of organisation and management. Unlike other MBA disciplines, this cannot be described as a precise area of study with a clear and absolute list of contents. Instead, just like the groups of people you lead, it is a collection of disparate areas that collectively provide us with some insight into how we address this important area of management. At no point will we be talking about ‘right answers’ to people management problems. Instead we will be looking at some of the cumulative knowledge that has been acquired over time, discussing alternative views and assessing potentials for successful application into the future.

For your ease of study, this unit is divided into seven parts, each section first identifying its learning objectives, the part of the textbook to be read, before providing you with additional knowledge and discussion if needed. Throughout the unit it is important for you to reflect what you are reading and learning back upon yourself and your own experiences.

Unit 2 - Managing Organisations & People

The second unit introduces you to the area of Human Resource Management; how it came to be recognised as such an important area of organisational study and application; its link to the wider issue of strategy; its relationship with organisational structures and finally to begin our review of the key processes, concepts and practices that make up people management.

After the first section of this unit (which involves a discussion of what is commonly regarded as the historical development from what was originally known as ‘personnel management’ into today’s more commonly accepted ‘human resource management’), we will explore all relevant personnel-related issues, policies, systems and procedures.

Unit 3 - Employee performance, development and relations

The aim of the third of unit is to provide you with an overview of the key issues, systems and processes involved in managing human resource performance, employee reward, development and involvement.

Some of the key concepts you will come across whilst studying this unit include:

• Performance Plans - linking of organisational objectives with an individual employee’s responsibilities to produce a measurable list of the competencies and behaviours expected in performing a role
• Performance Appraisal
• Employee Benefits - i.e. any tangible or intangible benefit an employee enjoys by being employed by an organisation
• Training - employee learning directed towards defined role-based activities and employee competence in their completion - most often skill or knowledge based
• Development - the process to maximise the capabilities of the organisation in line with its evolving strategy through maximising the long-term learning of employees. This learning may be skill, knowledge, philosophical or behavioural based

Module Director

Name: Dr Rick Audas

Email Address: r.audas@bangor.ac.uk

Phone Number: +44 (0) 1248 38 38 00

Module Overview

The overall aim of this module is to equip students with research tools which can be used in their study of other modules and in their mini projects. The course also serves as a foundation for further study of more advanced research methods for those students who wish to pursue higher degrees. The module starts with an introduction to research methodology and information technology tools. The main part of the module comprises an introduction to techniques of describing and summarising data; elements of data modelling; principles of probability and inference; regression analysis, time series analysis and survey methodology.

Module Aims & Objectives

On completing this Research Methods module, you will be expected to be able to:

• Understand how and why research methods is a key component of the global economy
• Provide a good foundation in research methods and techniques that students can use and build up on when writing any academic or non-academic report
• Critically analyse data from primary and secondary sources
• Formulate feasible research questions and assemble, select and present the results of data analysis and modelling
• Be able to critically evaluate and interpret research data presented to them in their day to day roles

Key Text

Research Methods for Business: A Skill Building Approach (7th Edition) Uma Sekaran & Roger Bougie

Means of Assessment

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1 - Introduction to Research, Data sources and Descriptive Statistics

The broad objective of this section is to provide an overview of the role of research in business and to provide a description of the data sources that are available to facilitate research. The unit concludes with an introduction to descriptive statistics and graphical methods.

Unit 2 - Introduction to Inferential Statistics: Hypothesis Testing, Correlation and Regression Analysis

In this unit we focus our attention on more advanced (or inferential) statistical techniques. At the heart of this is the idea that we can use data and statistical analysis to inform decision making. The unit will begin by describing the basic process of hypothesis testing and some of the statistical theory that underpin these techniques. Then the unit will go on to describe and demonstrate several different scenarios and accompanying techniques that can be used to extract information from data. This unit relies on the us e statistical tables and a number of different statistical tests that can be conducted to test hypotheses or theories.

The second section in this unit will introduce students to correlation and regression analysis. In this section we will delve more deeply into the underlying relationships that may exist between variables. The broad idea is to examine how data can be used to increase our understanding of outcomes that may be of interest to our organizations.

Unit 3 - Research Design

In this study guide we introduce the concept of research design and highlight some of the main forms of research design, highlighting the relative strengths and weaknesses of each. The introductory section of this unit will introduce a number of key concepts in research design, before going more deeply into the various ways in which quantitative research studies can be conducted.

We will then turn to research design, commencing with what is, at least in theory, the best form of research design – experimentation – and describe why it is generally viewed as being the ‘gold standard’ for research. It is also the most difficult to conduct and in many cases not possible. If we are unable to inform research questions through experimental methods, then it is important to understand the compromises being made in the use of different methodologies. A key objective of this study guide is to establish the limits of what different research designs can tell us. A serious concern is that we over-estimate what we think we can learn from research. The key to making good use of research is knowing its limitations and shortcomings.

The study guide concludes with a discussion on sampling techniques. A recurring theme in this module is that doing good, rigorous research is difficult and can be expensive and time-consuming. A key objective is to identify the compromises that we must make when we trade rigour for expedience – sometimes a necessary trade-off. The options for sampling techniques follow a similar discussion.

Module Director

Name: Prof. John Goddard

Email Address: j.goddard@bangor.ac.uk

Phone Number: +44 (0) 1248 38 38 00

Module Overview

This module considers the managerial theories of the firm, including production and costs, market structures, strategic pricing and competition policy. These important and challenging concepts, and their relevance to modern management, are set in context for the student to reflect upon their own organisation’s economic behaviour and strategies. The module emphasises the importance of anveconomic understanding of how modern firms behave, from managerial behaviour to production methods, and a detailed analysis of cost controls. The objective of the module is to expose the student to a challenging perspective on evaluating firms and management in areas as diverse as pricing policy and behaviour in inter-dependent markets. The module examines the key concepts of managerial economics and applies these to real world scenarios.

Module Aims & Objectives

On completing this Managerial Economics module, you will be expected to be able to:

• Be able to understand and apply the key theories governing managerial economics
• Have an understanding of the impact of fixed and variable costs, slack, elasticity and the Penrose effect on organisations
• Be able to apply the knowledge gained in the study of the production process and its various elements to the organisation
• Understand the linkage between costs and profits and the importance of fixed costs
• Understand the economic nature of strategic rivalry and exploit it to consolidate a firm’s market share
• Be able to review their firm’s competitive strategy in respect of competition legislation and policy
• Have a detailed understanding of the role of managerial economics within the banking and financial services industry

Key Text

Industrial Organization: Competition, Strategy, Policy (3rd Edition) Lipczynski, J. Wilson, J. and Goddard, J.

Means of Assessment

This module is assessed by means of an individual assignment (40%) and examination (60%)

Unit 1

Unit 1 reviews the core elements of production and cost theory and demand theory that form the building-blocks of the neoclassical theory of the firm. Section 1.2 introduces the theory of the firm and the Structure-Conduct-Performance paradigm. The technical analysis of production and costs begins in Section 1.3 with a review of production and cost theory. A key distinction is drawn between the short run (when some inputs are variable and others are fixed) and the long run (when all inputs are variable). The short-run relationship between inputs, output and production costs is governed by the Law of Diminishing Returns, and the long-run relationship is governed by economies of scale or diseconomies of scale. Section 1.4 reviews the essentials of demand theory, including price elasticity of demand, a standard measure of the responsiveness of quantity demanded to a change in price. Finally, Section 1.5 develops a general rule for the firm to achieve profit maximization. The profit-maximizing firm should produce the output level at which its marginal revenue equals its marginal cost.

Unit 2

Unit 2 begins by reviewing the body of microeconomic theory known as the neoclassical theory of the firm. The neoclassical theory of the firm describes how firms should set their output levels and prices in order to maximize their profits, under various sets of assumptions concerning market structure. The most important characteristics of market structure are the number of firms, the extent of barriers to entry, and the degree of product differentiation. The two most extreme cases considered by the neoclassical theory of the firm are perfect competition (the most competitive model) and monopoly (the least competitive). Sections 2.2 and 2.3 examine these two models, and Section 2.4 examines an intermediate case known as monopolistic competition.

Unit 3

Unit 3 uses a managerial economics framework to examine selected topics in firm strategy and competition policy. The pricing models developed in the previous modules are based on an assumption that firms set uniform prices that are identical for all consumers, and are identical no matter what quantity each consumer buys. Section 3.2 examines an pricing policy known as price discrimination, under which a firm either sells at different prices to different consumers, or makes the price per unit each consumer pays dependent on the number of units purchased. For such a policy to be possible, the firm must enjoy some degree of market power, and the market must be divisible into sub-markets between which secondary trade or resale is not possible.

Module Director

Name: Mrs Deborah Mitchell

Email Address: d.a.mitchell@bangor.ac.uk

Phone Number: +44 (0) 1248 38 38 00

Module Overview

The module introduces the concept of money laundering, and common typologies of these behaviours. This includes consideration of legal obligations, regulation risk assessment and the levels of diligence and reporting which are required to counter money laundering. In this introductory module learners are introduced to aspects of critical thinking to inform the tasks of due diligence and problem solving for financial intelligence purposes. They develop the ability to research academic and professional literature, present information in appropriate manners both written and oral for different audiences (regulatory, corporate as well as academic).

Module Overview

The module provides an introduction to the wider programme, and provides an education base for considering anti-money laundering. This includes an introduction to issues of money laundering and regulation, and the need for critical thinking and reflection in financial investigations. The module also reviews the fundamentals and standards necessary to produce information in a concise manner both written and oral to produce informative reports on financial intelligence for different stakeholders with an interest in scrutinising ‘compliance’.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of fundamentals of anti-money laundering, critical thinking and information presentation to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Critical Thinking
Unit 2 - FIU Connect Fundamental AML
Unit 3 - FIU Connect Report Writing

FIU Connect Financial Investigations unit will also be provided as an overarching reader across the programme, and will be introduced during the  Introduction to Financial Crime & Compliance module.

Means of Assessment

The module is assessed by 2 components:

A report addressing the topic set about ‘Fundamentals of Anti-Money Laundering’, including reflection on the process of research and report preparation (4000 words)

Preparation and recording of a presentation related to the Fundamentals of AML component of the report (10 minutes duration).

Module Overview

The module considers financial crime and intelligence about capital markets, and private and correspondent banking. For each of the three contexts the student is introduced to regulatory concepts and approaches, before learning about different methods used to detect crime, mitigate and prevent such behaviours. Products, risk management and the wider institutional structures relevant to each situation are discussed. The specific banking sub-sectors may be adjusted from year-to-year depending on relevant developments in the industry.

Module Aims & Objectives

The module provides a detailed examination of current themes in financial crime which arise in correspondent banking, private banking and capital markets. For all settings the student is introduced to product knowledge and organisational context to enable critical evaluation of detection and mitigation of financial crime and money laundering. The module includes case studies of recent supervisory actions and examples of financial settlements extracted from non-compliant organisations.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of correspondent banking, private banking and capital markets to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Capital Markets
Unit 2 - FIU Connect Correspondent Banking
Unit 3 - FIU Connect Private Banking

Means of Assessment

The mini-project assessment for Financial Crime in the Banking Industry comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for Financial Crime in the Banking Industry in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ in for Financial Crime in the Banking Industry as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Module Director

Name: Dr Tanya McCartney

Module Overview

The legislation and wider legal and regulatory environment for defining, identifying and countering criminal behaviours is discussed in the context of human trafficking, corruption, and cryptoassets. The module also considers techniques and methods of detection of these crimes and appropriate approaches to monitoring and reporting of these behaviours – from individual suspicious transactions to comprehensive law enforcement investigations.

Module Aims & Objectives

The module considers human behaviour in three contemporary and growing areas of financial crime – corruption, human trafficking, and cryptoassets. For each of these fields of financial crime, the module will outline how such crime develops, can thrive, can be detected and how such crime may be countered and combated. The module discusses appropriate responses for organisations and managers when confronted by such behaviour.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of corruption, human trafficking and cryptoasserts to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Corruption
Unit 2 - FIU Connect Human Trafficking
Unit 3 - FIU Connect Cryptoassets

Means of Assessment

The mini-project assessment for Human Aspects of Global Financial Crime comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for the Human Aspects of Global Financial Crime in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally. (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ in Human Aspects of Global Financial Crime as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).

Module Overview

The module considers the legislative and regulatory environment that defines and seeks to control financial crime associated with inappropriate exploitation of the physical environment, and money-laundering based on trade. The resulting economic sanctions that are often introduced to encourage compliance are assessed. The motivations for initial development and persistence of each crime are outlined and how they may be detected. Appropriate policy responses are introduced to counter and combat such crimes.

Module Aims & Objectives

The module considers the broader institutional context of societies around the world that are increasingly emphasising their concern about damage to the physical environment - both for current and future generations of citizens. Environmental crime ranges from pollution in-situ to the trade of environmental resources between nations. Sovereign governments often introduce economic sanctions on other nations or individual organisations (including banks) to restrict such trade. Providers of financial services require an appreciation of these forms of crimes in order to effectively engage with the sustainability agenda.

Key Text

The three course handbooks used on this module are accessed through the ManchesterCF platform. ManchesterCF is a specialist training provider in financial crime, and continually update their materials in response to changes in regulation. The materials will explore the theoretical concepts and practical aspects of trade-based, environmental crime and economic sanctions to introduce a wide range of real-world cases.
Unit 1 - FIU Connect Economic Sanctions
Unit 2 - FIU Connect Trade-Based Money Laundering
Unit 3 - FIU Environmental Crime

Means of Assessment

The mini-project assessment for Institutional Perspectives of Global Financial Crime comprises two parts:-

1. Research that requires the student to identify the ‘current state-of-play’ for the Institutional Perspectives of Global Financial Crime in their product & geographic areas of operation for each of the three topics in the module, & assess how these compare to developments in the industry globally. (5500 words and carries 75% module weighting).
2. A critical evaluation of ‘best practice for risk mitigation’ for Institutional Perspectives of Global Financial Crime as indicated in the study materials & supplementary readings, across the three topics in the module (1500 words and carries 25% module weighting).