Time.com: “The ‘Cash Cow’ of U.S. Universities: Professional Certificates Instead of Degrees”

In February, Pace’s Lubin School of Business and the Association of International Bank Auditors joined forces to introduce a six-month program leading to a Certified Compliance and Regulatory Professional certificate. Professional certificates are valuable for mid-career professionals who don’t have time to plod through the programs of study required for advanced degrees but who need to update their skills regularly.

An article written by Jon Marcus for The Hechinger Report and appearing on Time magazine’s website today focused on the boom in certificate programs at four-year colleges.
 
Certificate programs can be added and updated more quickly than conventional academic ones.  And they can help workers keep up with fast-changing fields such as information technology and intelligence, or get raises or promotions.
 
But a main reason for the explosion in the number of professional certificates at traditional universities, administrators concede, is that they bring in revenue, largely from mid-career students who pay the full cost without needing institutional financial aid, or whose employers reimburse them for tuition.
 
 
“A global economy and the rapidity of progress in technology require continuous education,” said Neil Braun, the dean and a former president of the NBC Television Network and CEO of Viacom Entertainment. “Certificate programs are very useful for people who see the world around them changing faster than they can keep pace.”
 
Students see the benefit of a professional certificate more narrowly: to distinguish them from other candidates for scarce jobs.

Military Advanced Education: “Pace to Encourage Entrepreneurship”

Military Advanced Education, the Journal of Higher Learning for Today’s Servicemember, reports on the opening of Pace’s new Entrepreneurship Lab in the April issue.

Military Advanced Education saluted Pace’s launch of an Entrepreneurship (E-Lab) which is expected to both nuture the entrepreneurial spirit on campus and serve as a beacon for innovation in the Lower Manhattan community. In addition to the site in Manhattan, the publication noted that Pace opened an Entrepreneurship Lab at the Goldstein Academic Building on its Pleasantville, NY, campus.

Military Advanced Education quoted Neil S. Braun, dean of the Lubin School of Business, on the meaning of entrepreneurship:

“Entrepreneurship, in its broadest sense, is a personal approach for developing ideas into plans and plans into reality. It is interdisciplinary ‘doing.’  Entrepreneurial leadership is as important in large companies as it is in startups; it’s a mindset toward relentless problem solving that leads to successful execution” said Braun, who in his career has assumed many different type of roles, including internet entrepreneur, television network president, corporate attorney, CEO and film producer. “It is therefore at the heart of business education; it is the ultimate capstone for applying the knowledge and skills of the discrete disciplines to a product or service for a specific market opportunity.”

Professor Bruce Bachenheimer, the E-Labs leader, discussed the importance of an entrepreneurial mindset:

“The Entrepreneurship Lab aims to foster an entrepreneurial mindset – a way of thinking and acting that focuses on developing new ways to solve problems and create value,” said Bachenheimer, who drafted the initial proposal of the E- Lab. “These skills are important not only for those seeking to establish a new venture, but are increasingly critical in a wide variety of professional careers given today’s hyper-competitive marketplace, where rapid technological innovation and globalization has led to corporate downsizing and a dramatic change in the very nature of work.”

In The Empire: “Pace University’s Entrepreneurship Lab Will Train People To Think Differently”

A startup blog covers the opening of Pace’s new startup Entrepreuneurship Lab. How appropriate.

This is the seed blog for InTheEmpire, a Streetwise Media site specifically for NYC, set to officially launch this March.
 
February 17, 2012
 
 

Pace University officially opened the doors to its Entrepreneurship Lab (aka, E-Lab) last night, and there to cut the ribbon was Professor Bruce Bachenheimer, who was named the lab’s first director.

“It takes innovation and entrepreneurship to develop things that are meaningful,” Bachenheimer tells us over the phone.

The big picture strategy of the E-Lab is not necessarily to incubate companies or create startups, but it’s to spur entrepreneurial and innovative thoughts and actions.

“We don’t measure our metrics by how many students launch businesses,” Bachenheimer says. “It’s the ability to come up with new and creative solutions to problems, and the ability to add value in a unique and innovative way.”

To spur innovation, Bachenheimer and his E-Lab will provide students with workspace for creative thinking, in addition to access to workshops, guest speakers, roundtable discussions, and networking events involving members of the entrepreneurial community.

“If you’re looking at very good innovators, they have to be young enough so that their minds are not so rigid in the way things are and the way things should be,” says Bachenheimer. “But they also need to have enough knowledge, skills, and abilities to find and solve problems.”

To mold a mind into innovative shape, college students need an “experiential education.” People at that young of an age need to be able to expand their horizons and question the norm, or, to borrow a line from Steve Jobs, you need to “stay hungry, stay foolish” to truly innovate.

“You need to train people to think differently, and if there are specific skills they don’t have, let them know how to get those resources,” Bachenheimer says. “Hopefully, the Entrepreneurship Lab is one of them.”

(Image, from left: Neil Braun, Bruce Bachenheimer, Harold Levy)

Inc.com: “New York Gets New Start-up Lab”

Pace University opens up entrepreneurship lab, hoping to incubate interdisciplinary collaboration between students—and create some new companies in Lower Manhattan.

ENTREPRENEURS

February 17, 2012

New York Gets New Start-up Lab

Pace University opens up entrepreneurship lab, hoping to incubate interdisciplinary collaboration between students—and create some new companies in Lower Manhattan.

Before they were entrepreneurs, Rob Caucci and Jeremy Pease were students by day and residence hall RAs by night. That meant after classes in Pace University’s Lubin School of Business and computer science program, respectively, then would come home to “have to mediate dozens of conflicts every day between roommates,” Caucci says.

In an effort born of that frustration, the pair launched their first company, a roommate-matching software called Reslutions, which they dubbed “eHarmony for college roommates.” Then, after winning Pace University’s 2010 Pitch Contest with that idea, the pair shifted their plans: They are now looking for a $500,000 investment for their roommate cost-sharing and household management start-up, called SpaceSplitter.

Pace is the latest university trying to foster just this kind of partnership—in which a business school student meets an undergrad programmer and begins a lasting entrepreneurial relationship. On Thursday night, the Lubin School of Business at Pace held a reception launching the school’s new entrepreneurship lab, an open-floor-plan space decked in computers and Idea Paint tucked into a corridor of Lubin School. The secret sauce: any student from any school within Pace may apply. The lab’s director, Bruce Bachenheimer, who also organizes the Pace Business Plan Competition and Pitch Contest, said he’d gotten a call from a nursing students asking if she could apply for the lab, hopefully to find a collaborator for a piece of health-care software or an app.

“Entrepreneurship is interdisciplinary problem solving and no one can be expert at everything; therefore well-coordinated collaboration is at the heart of what we strive to instill in our students,” says Neil Braun, dean of Pace’s Lubin School of Business and former president of NBC and chairman of Viacom Entertainment. “The lab is a conducive space for students, faculty, entrepreneurs and city officials to identify opportunities and needs and build a plan to make something good happen.”

Thursday night attracted other bold-faced New York start-up names, including Harold Levy, managing director of Palm Ventures and former NYC Schools chancellor, and Robert Walsh, New York City Small Business Services commissioner.

“New York is a thriving hub of entrepreneurship, but we’re still in the second and third inning,” compared with Silicon Valley’s thriving technology industry and start-up scene, said Somak Chattopadhyay, a partner in Tribeca Venture Partners, who spoke at the Entrepreneurship Lab launch. “We’ve been missing a critical mass of incubators and accelerators.” —Christine Lagorio

Pictured: Robert Walsh, Commissioner of the New York City Department of Small Business Services

Crain’s New York Business: “Pace University launches entrepreneur lab”

Following the lead of schools like New York University and Columbia University, a group at Pace University has created a space for the school’s budding entrepreneurs to call home.

Downtown business school creates a space to foster entrepreneurialism among its students

By Emily Laermer
February 15, 2012
 
Following the lead of schools like New York University and Columbia University, a group at Pace University has created a space for the school’s budding entrepreneurs to call home. 
 
The lab, located on the third floor of 163 William St., will open Thursday. It was the brainchild of Neil Braun, the dean of the university’s Lubin School of Business. However, it will be available for use by all Pace students, not just those from the business school, he said. 
 
“It’s about more than starting companies. Entrepreneurship, to me, is a mindset, a way of thinking and interdisciplinary doing,” said Mr. Braun, adding that the lab will be open to students in all of Pace’s specialized schools, which include programs for computer sciences, business, education and health professions, as well as an arts and science program.
 
Before becoming dean of Lubin 18 months ago, Mr. Braun was the president of NBC Television Network and CEO and chairman of Viacom Entertainment.
 
Mr. Braun would not disclose the financials of the lab, but he noted that funding will come from the university. He said the university “reallocated funds that were used for other things that outlived their utility,” adding that he expects future successes from the lab will justify the cost.
 
The lab will include space for students to conference with investors, a studio for them to work and a large meeting room for speakers. Bruce Bachenheimer, the director of the lab and a professor at Lubin, says he plans to reach out to some of the thousand-plus Pace-area alums who self identify as entrepreneurs to be potential guests.
 
“This will be very student focused,” Mr. Bachenheimer said. “It’s important for me to see how the students are using the lab and what is providing them with the most value.”
 
In fact, Mr. Bachenheimer says he has seen an increase in student interest in entrepreneurship in recent years. He blames this on the economy and the high unemployment rate. Students see creating their own companies as a safer route.
 
“They also want to make something meaningful and create something,” he said.
 
Part of the inspiration for this lab stemmed from competitions at other schools like Stanford University and Massachusetts Institute of Technology. Locally, New York University launched its Innovation Venture Fund in 2010. This group offers seed money for startups built at the university. In November, the organization helped organize an Entrepreneurs Festival for its students.
 
NYU also partnered with Columbia University to organize hackNY, an group that aims to connect tech-minded students with startups. Columbia has its own lab, Columbia Technology Ventures, which launches about a dozen startups per year.
 
Pace will be hosting a ribbon-cutting event Thursday evening at the lab to mark its official launch. In addition to members of the Pace community, speakers for the reception include Gurbaksh Chahal, the founder, chairman and CEO of online advertising network RadiumOne, and Robert Walsh, the commissioner at the city’s Department of Small Business Services.

NEWS RELEASE: “Pace University Opens Entrepreneurship Lab to Foster Student Innovation, Initiative and Commitment; Bruce Bachenheimer Named Lab’s First Director

Pace University has deep “roots” in innovation and entrepreneurship. Pace was founded more than 100 years ago by two exemplars of entrepreneurship, the brothers Homer and Charles Pace. With a $600 loan, they rented a classroom in Lower Manhattan to teach the principles of business to men and women aspiring to a better life.

Pace University Opens Entrepreneurship Lab to Foster Student Innovation, Initiative and Commitment

Professor Bruce Bachenheimer – Serial Entrepreneur, Board Member of the MIT Enterprise Forum, and Authority on Collegiate Entrepreneurship – Named Lab’s First Director

NEW YORK, NY, February 13, 2012 – A ribbon-cutting ceremony on Thursday, February 16, to be attended by members of New York City’s “entrepreneurship ecosystem” will mark the official launch of the new Pace University Entrepreneurship Lab (E-Lab), which is expected to both nurture the entrepreneurial spirit on campus and serve as a beacon for innovation in the Lower Manhattan community. 

Those scheduled to be on hand at the inauguration of the new space on the third floor at 163 William Street in New York City and give brief entrepreneurial-encouraging remarks at the invitation-only reception include (in alphabetical order):

  • Bruce Bachenheimer, Director of the Entrepreneurship Lab and Clinical Professor of Management, Lubin School of Business
  • Neil S. Braun, Dean of the Lubin School of Business and former President of the NBC Television Network and CEO & Chairman of Viacom Entertainment
  • Gurbaksh Chahal, Founder, Chairman & CEO of RadiumOne.  A die-hard internet entrepreneur, “G” also launched ClickAgents and BlueLithium.
  • Somak Chattopadhyay, Partner at Tribeca Venture Partners – Early Stage Venture Capitalist
  • Harold O. Levy, Pace Trustee and Managing Director of Palm Ventures, Former NYC Schools Chancellor
  • Robert W. Walsh, Commissioner – New York City Department of Small Business Services

They’ll be joined by Robert Caucci (Pace BBA ‘11, Entrepreneurship; Pace BS ‘11, Business Economics) and Jeremy Pease (Pace BS ’12, Computer Science), co-founders of Reslutions, who had the 2011 Winning New Business Concept Pitch at Pace’s Seventh Annual Pitch Contest. Reslutions is a platform that digitizes and streamlines all of the processes associated with a collegiate housing department and stemmed from the co-founders experience as college resident advisors.

Entrepreneurship: The Heart of Business Education 

In addition to 163 William Street in Manhattan, Pace will be simultaneously opening an Entrepreneurship Lab at the Goldstein Academic Building on its Pleasantville, NY, campus. Both E-Labs will provide the tools and mentoring for the development of business plans and the seed capital for new ventures. The E-Labs will also host events featuring guest speakers, workshops and competitions, many of which will be open to the public.

“Entrepreneurship, in its broadest sense, is a personal approach for developing ideas into plans and plans into reality. It is interdisciplinary ‘doing.’  Entrepreneurial leadership is as important in large companies as it is in startups; it’s a mindset toward relentless problem solving that leads to successful execution” said Braun, who in his career has assumed many different type of roles, including internet entrepreneur, television network president, corporate attorney, CEO and film producer. “It is therefore at the heart of business education; it is the ultimate capstone for applying the knowledge and skills of the discrete disciplines to a product or service for a specific market opportunity. 

Professor Bruce Bachenheimer is ideally suited to lead the E-Labs and grow the program,” continued Braun.  “Bruce’s relationships throughout the New York City venture community and beyond will be an important building block as we seek to further enhance our standing in, and access to, professionals in the field.” 

Bachenheimer is the visionary behind the annual Pace Pitch Contest and Business Plan Competition, which he introduced in 2004, shortly after joining the Lubin faculty. Additionally, he is a member of the Board of Directors and past Chairman of the MIT Enterprise Forum of New York City and has served on the organization’s Global Board. Bachenheimer also serves on the Board of Directors & Advisors of LeadAmerica and has served as a consultant to the NYC Department of Small Business Services and the New York City Economic Development Corp. He founded Annapolis Maritime Corp. and co-founded StockCentral Australia. 

“The Entrepreneurship Lab aims to foster an entrepreneurial mindset – a way of thinking and acting that focuses on developing new ways to solve problems and create value,” said Bachenheimer, who drafted the initial proposal of the E- Lab. “These skills are important not only for those seeking to establish a new venture, but are increasingly critical in a wide variety of professional careers given today’s hyper-competitive marketplace, where rapid technological innovation and globalization has led to corporate downsizing and a dramatic change in the very nature of work.”

Bachenheimer began his career as a Wall Street trader then had the courage to take a step back from the rat race and go sailing … for several years. After sailing through the Caribbean to South America, he headed to Annapolis, Maryland, where he launched a business importing teak lumber and taught himself yacht joinery. Bachenheimer then transitioned to a career in high-tech forensic science, where he served as the International Product Manager for an entrepreneurial venture, conducting business in over 20 countries. Several years later, Bachenheimer received the prestigious McKinsey & Company Leadership Scholarship to pursue and MBA degree, which he earned from the Australian Graduate School of Management. While completing his degree, he co-founded StockCentral Australia, which grew to become one of the largest financial websites in the country. A Pace alumni, Bachenheimer earned a BBA, Summa Cum Laude, from the Lubin School of Business.  He was conversational in Japanese and spent a semester at Tsukuba National University in Japan as an undergraduate. 

 About Entrepreneurship Studies in the Lubin School of Business at Pace University

The Entrepreneurship Labs on the New York and Pleasantville campuses (www.pace.edu/entlab) build on Pace’s well-established undergraduate and graduate entrepreneurship curriculum and activities such as the Pace Pitch Contest, Business Plan Competition, and Entrepreneur In Residence program. www.pace.edu/entrepreneurship 

About Pace University 

For 105 years, Pace University has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems. www.pace.edu

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Pace Media Contact: Samuella Becker, sbecker2@pace.edu; 212-346-1637 (office) or 917-734-5172 (mobile)

Thomson Reuters: “International banking compliance group, NYC b-school offer ‘reality’-based certification”

The Lubin School of Business at Pace University and the Association of International Bank Auditors (AIBA) have collaboratively developed a Certified Compliance and Regulatory Professional (CCRP™) certificate program for professionals in the global financial services industry. The work behind the program’s creation took four professors and eight industry professionals about 1,000 hours. Classes begin January 19, 2012.

Interactions between government and business are more important than ever and the risks of getting it wrong are greater than ever, Neil S. Braun, dean of the Pace University Lubin School of Business, told Thomson Reuters.

The Lubin School and the Association of International Bank Auditors have addressed this need by collaboratively developing a Certified Compliance and Regulatory Professional certificate program for professionals working in the global financial services industry, Braun said.

The CCRP™ program will be the inaugural course offered at Lubin’s new Center for Global Governance, Reporting and Regulation in midtown Manhattan on Thursday evenings beginning January 19. (For course and registration information, click here.)

The complexity of world markets and diverse political systems means managing international business activities is both more important and more difficult than ever. It has become evident that planning and execution are as important in matters of risk management and regulatory compliance as they are in the traditional business disciplines. The CCRP™ will provide the analytical framework to enhance management’s ability to anticipate and address a fast changing and increasingly regulated world with specific focus on the international banking industry, Braun said.

The program was developed by Lubin professors working with AIBA’s internal audit, compliance and internal control members, who represent nearly 100 US, primarily New York City area-based, branches and agencies of foreign banks. The work took four professors and eight industry professionals about 1,000 hours, Lubin professor John Alan James told Thomson Reuters.

“We are very excited to partner with Pace’s Lubin School of Business … in offering this unique program to provide intensive regulatory risk-management training for industry professionals,” said Steven Lewis, Chairman of the AIBA.

Developing the program was a collaborative effort, not just a sign-off on an already developed curriculum, said David DeMartino, a principal at Compliance Professional Resources LLC and AIBA adviser to the program.

Most international certifications are not of significant consequence, DeMartino said, as hiring managers we don’t think that’s enough.

Teaming the AIBA with Lubin added credibility to the certificate because compliance practitioners were engaged in developing the program, said another AIBA adviser, Romeo A. Vinas, of the Arab Banking Corporation BSC.

The curriculum was developed by compliance practitioners dealing with reality every day and is designed to prepare potential new-hire and promotion candidates for ever-growing and -changing regulatory requirements, said Vinas.

Vinas differentiated the CCRP™ from other recognized certifications, saying only the CCRP™ addresses corporate governance and enterprise risk management as well as anti-money laundering and anti-terrorist financing controls.

Lubin and the AIBA said it is critical to have a recognized business school develop a program that will be administered by industry audit and compliance professionals because:

  • financial institutions are facing an increased regulatory burden, that is increasing at a dramatic pace, in the US and abroad;
  • the regulatory compliance market requires a significant set of skills that include elements from the accounting, finance and legal professions;
  • existing certifications do not offer enough depth to provide students with the knowledge to make an impact in the workforce; and
  • ongoing retraining is critical and must be professionally administered.

The development goal was to create a certification based on not just theory but also the practical elements of compliance [such as] incorporating technology, said AIBA adviser DeMartino.

Calling the program one of the only [ones] on using technology in the industry, DeMartino said it looks at how technology relates to regulation and asks about the quality of information, not just number crunching.

The program is designed for banking professionals who seek a solid understanding of the growing significance of regulation and the need for compliance. The initial class will likely include regulators, compliance professionals, lawyers, internal auditors, risk decision makers, and accounting and operational managers, James said.

The first class will receive their certifications just as critical new rules such as the Volcker rule on proprietary trading and a new derivatives trading regime will likely take effect. The course will teach how to manage uncertainty and train others at the bank, from directors and C-suite executives, to supervisors, to trading, audit and operational professionals.

An important goal will be to help the bank determine its risk appetite and apply it throughout its policies and procedures, and to develop organizational structures that break down and eliminate silos, James said.

Recipients of the CCRP™ certificate will have learned to think strategically and tactically, and then customize appropriate solutions for the international financial services institutions where they work, said Lubin dean Braun.

CCRP™ recipients will also have learned how to organize their institution’s compliance structure and train their colleagues to be effective and efficient, said James.

CCRP™ holders may also receive six credits towards a Lubin MBA, Braun said. The school will consider developing programs for other industry sectors such as brokerage or investment banking.

The program will consist of three parts:

  • corporate governance in international banking; and enterprise, compliance and operational risk management;
  • compliance risk assessment; anti- money laundering and anti-terrorist financing controls; and the role of technology in establishing proper compliance programs; and
  • developing and managing a banking compliance program.

Roughly the last third of the program will have each student participate in a practical project.

Students will be expected to attend classes, but lectures will be archived for viewing if occasional business travel takes a student out of town. If Lubin develops programs for other financial service sectors it will consider offering remote classes for non-area students as long as they can participate in the project requirement, Braun said.

 

 

 

NEWS RELEASE: The Lubin School of Business at Pace University and the Association of International Bank Auditors Launch Joint Six-Month, 25-Session Certified Compliance and Regulatory Professional (CCRP™) Certificate Program

“We are very excited to partner with Pace’s Lubin School of Business, a leader in advanced management education, in offering this unique Certified Compliance and Regulatory Professional (CCRP™) certificate program to provide intensive regulatory risk management training for industry professionals,” said Steven Lewis, Chairman of the Association of International Bank Auditors (AIBA). Classes begin January 19, 2012.

Classes Begin January 19, 2012

NEW YORK, NY, December 2, 2011 – The Lubin School of Business at Pace University has formed a strategic alliance with the Association of International Bank Auditors (AIBA) to offer a Certified Compliance and Regulatory Professional (CCRP) certificate program targeting professionals working in the global financial services industry, including AIBA’s internal audit, compliance and internal control members representing nearly 100 branches and agencies of foreign banks. 

The CCRP™ Program will be the inaugural course offered in the new Center for Global Governance, Reporting and Regulation at Lubin, which will develop and apply knowledge growing out of the business school’s years of experience with international accounting standards and corporate management. CCRP™ classes begin January 19, 2012, and run Thursday evenings at Pace University’s Midtown Center in the landmark Fred French Building at 551 Fifth Avenue between 45th and 46th Streets. Course details and registration information are at www.pace.edu/lubin/ccrp.

“The complexity of world markets and diverse political systems means managing international business activities is both more important and more difficult than ever,” said Neil S. Braun, Dean of the Lubin School of Business and former President of the NBC Television Network and CEO of Viacom Entertainment. “It has become evident that planning and execution are as important in matters of risk management and regulatory compliance as they are in the traditional business disciplines. The CCRP™ will provide the analytical framework to enhance management’s ability to anticipate and address a fast changing and increasingly regulated world with specific focus on the international banking industry.”

“We are very excited to partner with Pace’s Lubin School of Business, a leader in advanced management education, in offering this unique program to provide intensive regulatory risk management training for industry professionals,” said Steven Lewis, Chairman of the AIBA.

Among the reasons the industry needs a certification from a well-recognized and highly respected business school such as Lubin, combined with a well-known industry audit and compliance association such as AIBA to administer a value-added certification, are: 

  • Financial institutions are facing an increased regulatory burden both in the U.S. and abroad. Furthermore, the pace of regulatory changes is increasing dramatically.
  • The regulatory compliance market requires a significant set of skills, equaling what is needed in the accounting, finance and legal space.
  • Existing certifications simply do not offer enough depth in their programs to allow the student to possess the knowledge to make an impact in the workforce.
  • Ongoing retraining in this ever-changing environment is critical and must be professionally administered. 

Who Will Benefit 

The Lubin/AIBA CCRP™ Program is designed for all banking professionals who seek a solid understanding of the growing significance of regulation and the need for compliance, including: 

  • Regulators and compliance professionals
  • Attorneys
  • Internal Auditors
  • Risk Decision Makers
  • Accounting and Operational Management

Curriculum  

Course One: Corporate Governance in Financial Institutions

  • Course Introduction and Corporate Governance in the International Banking Industry (1/19/12)
  • Corporate Governance & Compliance: Overview of Key Statutes and Regulatory Agencies (1/26/12)
  • Enterprise Risk Management (ERM) – External Governance vs. Internal Governance – The Role of the Board of Directors, the Audit Committee, and All Levels of Management (2/2/12)
  • Compliance Risk Management (CRM) and How ERM Affects All Levels of Bank Management (2/9/12)
  • ERM and the Role of Audit (2/16/12)
  • Operational Risk and Compliance Management (2/23/12)
  • Comparing Similarities of the U.S. Regulatory System with Other Key Countries (3/1/12)
  • Summary Session and Course Exam Preparation (3/8/12)

NO CLASS/Spring Break – Take-Home Exam due 3/15/12

Course Two: Regulatory Affairs within International Banking

  • Course Introduction and Regulatory Landscape (3/22/12)
  • Role of Compliance within the Firm (3/29/11)
  • Compliance Risk Assessment – Understanding Key Risk Factors of Complying with Statutes and Regulations to Determine the Risk Level Posed to an International Bank – How Do We Test and Monitor Compliance with Statutes and Regulations Based on Risk? (4/5/12)
  • Key Statutes and Regulations Session I – Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) – Bank Secrecy Act (BSA) / USA PATRIOT Act of 2001, Part 1 (4/12/12)
  • Key Statutes and Regulations Session II – Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) – Bank Secrecy Act (BSA) / USA PATRIOT Act of 2001, Part 2 – U.S. Money Laundering Prevention and Terrorist Financing Directives  vs. the European Union Money Laundering Prevention and Terrorist ML & Financing Directives (4/19/12)
  • Key Statutes and Regulations Session III – Introduction to Project Work/Mentors Introduced  (4/26/12)
  • Role of Technology in Establishing Proper Compliance Programs (5/3/12)

Course Three: Developing and Managing a Banking Compliance Program

  • Course Introduction and Establishing Compliance Policies and Procedures – Reference Manuals to Use as Resource Material – Developing a Compliance Manual – Key Elements for Writing an Effective and Comprehensive Compliance Policy – Key Elements for Writing an Effective and Comprehensive Compliance Procedure – Incorporating  Head Office Policies into U.S. Policies – Continuation of Project Work – Individual Team Project Themes to be submitted (5/10/12)
  • Establishing Compliance Policies & Procedures II – Continuation of Project Work/Creating Specific Policies & Procedures (5/17/12) 
  • Establishing Compliance Policies & Procedures III – Continuation of Project Work (5/24/12)
  • Preparation and Conduct during a Regulatory Examination (5/31/12)
  • Delivery of Preliminary Reports by Project Working Groups with Mentors (6/7/12)
  • Enforcement Actions (6/14/12)
  • Presentation of Final Project Report, Written & Oral, to Board with Mentors (6/21/12)
  • Final Examination Preparation (6/28/12)
  • NO CLASS/Fourth of July Weekend (7/5/12)
  • Final Examination (7/12/12)

For roughly the last third of the program, each student will participate in a practical project, mentored by experienced practitioners.

Faculty

A combination of distinguished academics and seasoned compliance and regulatory professionals has developed the curriculum and will be teaching the classes, enriched by guest speakers from relevant industries. 

The CCRP™ certificate will be awarded to those participants who successfully complete the program in a continuous six-month period and pass the CCRP™ exam. While weekly attendance is strongly encouraged, lectures will be videotaped and archived online for later viewing if occasional business travel takes a student out of town.

Tuition

$2,500 per CCRP™ Program Course and a $400 fee for administration of the CCRP™ Certification Examination. Each CCRP™ Program Participant will also be responsible for an application fee of $70. CCRP™ Program Participants will be personally responsible for the cost of textbooks and other CCRP™ Program Course related materials.

About The Center for Global Governance, Reporting and Regulation (CGGRR) at Lubin

CGGRR sponsors research and discussion on the development and implementation of global financial reporting standards, regulatory compliance and governance.  It also develops programs to develop proficiencies and expertise in these areas and hosts conferences and events on relevant topics featuring leaders in these fields. CGGRR originated as the Center for the Study of International Accounting Standards, and evolved into its current iteration as a natural progression. Reporting standards alone are not sufficient in the current global business environment; governance and regulatory compliance are essential in international business.

About the Lubin School of Business and Pace University

Founded in 1906, Pace University has nearly 13,000 students across six schools. Globally recognized and prestigiously accredited, the Lubin School of Business integrates New York City’s business world into the experienced-based education of its students at both the suburban and downtown campuses, implemented by the region’s largest co-op program, team-based learning, and customized career guidance—all designed to launch success-oriented graduates toward upwardly mobile careers.  www.pace.edu/lubin

About The Association of International Bank Auditors (AIBA): The AIBA membership consists of internal audit, compliance and internal control professionals of nearly 100 branches and agencies of foreign banks.  The mission of the AIBA is to foster the professional standing of its members by increasing their knowledge and capacities to carry out their responsibilities with respect to international banking.

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 Pace Media Contact: Samuella Becker, sbecker2@pace.edu; 212-346-1637 (office) or 917-734-5172 (mobile)

 CCRP™ Program Contact: BrianPew, bpew@pace.edu; 212-618-6444

Bloomberg Businessweek: “Executives Teaching in B-School”

Some academic theories might be best understood by the people who put those theories into practice.

Practitioners who teach have their failures as well as their successes on display for students. They also serve as a sounding board for students seeking practical career advice.

Business schools have come to value the practitioner’s perspective, and they are increasingly making room for those viewpoints on their staffs. Bloomberg Businessweek identified 25 top executives who teach/guest lecture, including Neil Braun, Dean of the Lubin School of Business.

Neil Braun: Viacom Entertainment

Who: Chief executive officer, Viacom Entertainment (VIA), 1988-94; president, NBC Television Network, 1994-98
Where: Pace University’s Lubin School of Business
What: Dean, guest lecturer

Braun joined a growing list of former executives tapped to run business schools when he was named dean of Pace University’s Lubin School of Business in June 2010. Braun also flits in and out of the classroom as a guest lecturer. He says he has his most rapt audience any time the discussion topic is M&A negotiations. During his time at Viacom, the company bought Blockbuster and Paramount Pictures. “Students hang on every word when you can tell them what was really going on,” he says of those deals in Bloomberg Businessweek.

U.S.News & World Report: “CEOs Teach in M.B.A. Classrooms”

Most CEOs spend the latter years of their professional lives giving presentations in high-pressure board rooms for select groups of middle-aged power brokers, not in lecture halls filled with green but eager business students. However, a few such as Neil Braun, Dean of Pace’s Lubin School of Business and former President of NBC Television Network, have opted to venture into the world of higher education … using their corporate experience to mold a new generation of top executives.

Neil Braun, dean of Pace University’s Lubin School of Business and former CEO of Viacom Entertainment: Having worked as the top executive at numerous firms—including entertainment giant Viacom—during his 33-year career, and no longer satisfied with the rewards of his day job, Braun told U.S. News & World Report that he yearned to impart the knowledge he’d gleaned to a younger generation. After searching for vacant administrative positions at business schools in the New York metropolitan area, he landed at Pace in 2010, where, in addition to serving as dean, he routinely meets with student leaders and gave guest lectures in eight classes during the past year on topics ranging from leadership to competitive strategy. 

Beyond the detailed advice he offers in those lectures, he advises all business students to learn to write well, to hone one very difficult analytical skill, and to familiarize themselves with areas of business outside of their specialty. Data analysts, for instance, should be able to freely converse with marketers about their duties, and vice versa, he says. 

“I wish somebody had clued me in to some of this stuff when I was young, and contextualized all the trauma I had to go through—like we all do—in trying to figure this out,” he says. “I’m not being naïve in thinking that just by telling them I’m going to save them from anything, but I do get E-mails and feedback from people that they took one or two really important things that have made a difference in their lives.”