Hong Kong Baptist University School of Business Inks MOU with the Institute of Compliance Officers (ICO) to Promote Compliance as a Discipline of Study and as a Professional Career

HONG KONG SAR - Media OutReach - 13 June 2022 - The Hong Kong Baptist University (HKBU) School of Business has signed a Memorandum of Understanding (MOU) with the Institute of Compliance Officers (ICO) designed to promote compliance as a discipline of study and as a professional career.

The collaboration entails ICO's recognition of courses at HKBU School of Business in compliance, risk management and related areas, and promotes ICO membership to Masters students. ICO and HKBU School of Business will join hands in developing executive education courses in compliance with a focus on the Greater Bay Area and in organising compliance-related seminars, research and other related activities for HKBU students, ICO members and the compliance community.

Prof. Ed Snape, Dean of HKBU School of Business, said: "At HKBU School of Business, we are committed to nurturing ethical leaders with a global vision. We want to see our students excel in their careers, but we also want them to shape the future of business in a sustainable and ethical way. I am very excited about the collaboration with ICO, which will help us to meet the needs of the market, and bridge a key talent gap for Hong Kong and the Greater Bay Area."

Under the agreement, ICO will recognise our courses at HKBU School of Business, Risk, Compliance and Corporate Social Responsibility, Regulating Big Tech and Data Protection, Compliance in Finance, Cybersecurity, and Privacy and Regtech for Finance. Both institutions will also join forces to develop module content on trade and competition compliance, and on digital law and compliance.

Dr. Angus Young, Senior Lecturer, Department of Accountancy and Law, HKBU School of Business, said: "In response to an increasingly complex regulatory environment and ever-rising expectations of investors and stakeholders, our courses provide specialised training to equip our students with the skills to promote integrity, accountability and sustainability in organisations. Developing compliance modules is a proof that HKBU School of Business is forward-thinking. Now in partnership ICO we will prepare our students to meet new challenges ahead and help them explore diverse career opportunities."

Joint development of courses in compliance to meet growing demand in Hong Kong and the wider GBA

With Hong Kong as the super-connector and trading hub between the Greater Bay Area (GBA) and the rest of the world, it is critical for businesses that operate across multiple markets to understand and comply with the rules of the game to achieve success and credibility. The role of compliance in a business is now more important than ever, not only in the banking and finance sector but in all sectors. The market is in great demand for compliance professionals, of which the salary range of a compliance officer with 2-year experience can reach over HKD 380,000 per annum^[1].

Eric Chan, Certification Chairman, The Institute of Compliance Officers, said: "We see an urgent need for compliance training for Responsible Officers as well as compliance professionals wishing to enter the industry. The collaboration with HKBU School of Business will benefit young compliance officers who want to sharpen their knowledge on the subject with a more theoretical basis, while providing continuous support to practitioners in the compliance industry and to answer market demands."

The ICO-recognised courses are shared by selected Master of Science programmes at HKBU:
● MSc in Corporate Governance and Compliance (MScCGC)
● MSc in Data Analytics and Business Economics (MScDABE)
● MSc in Finance (FinTech & Financial Analytics) (MScFIN FTFA)
● MSc in Applied Accounting and Finance (MScAAF)

For more information about the programmes and modules, please visit the Hong Kong Baptist University School of Business at https://bus.hkbu.edu.hk/eng/bus/main/Index.

About HKBU School of Business

For over 65 years, Hong Kong Baptist University (HKBU) School of Business has been at the vanguard of business education in Asia, moulding generations of business leaders. Located at the crossroads between the emerging countries of Asia and the West, HKBU School of Business is ideally situated to confront the changes impacting our world; the School prides itself in striving to always remain a true pioneer in business education. Having an alumni network of over 20,000, it is the only business school in Hong Kong and among the 1% of schools worldwide to be accredited by AACSB, AMBA and EQUIS.

About the Institute of Compliance Officers (ICO)

The Institute of Compliance Officers (ICO) is a voluntary professional body for the compliance professionals. Founded in 2005, ICO is committed to promoting further recognition of the compliance profession and the further development of the compliance profession and professional standards through disseminating relevant information and knowledge to the compliance profession. ICO is a provisional member of the International Federation of Compliance Associations (IFCA).

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