Recovery Plan Implementation and Reporting Requirements for Financial Institutions


  • 5 CPD Hours

According to the “Directive of the Cyprus Securities and Exchange Commission regarding the certifications of persons and the certification register” (RAD 22/2017), it is compulsory that certified persons need to undergo annual training to satisfy the criterion of Continuing Professional Development in order to maintain their certification. This seminar aims primarily to satisfy the CPD requirement of CySEC by offering an update to the current developments of the Cyprus Law regarding CIFs and their obligations.

The aim of the seminar is to provide participants with an outline of the CIF’s requirement to develop Recovery Plans. It outlines the principles and methodologies that should be used when establishing Recovery Plans, gives the overview of qualitative and quantitative Recovery Plan indicators and range of stress-test scenarios, that should be included in the Recovery Plan in accordance with the EBA guidelines. The seminar sets out the content of Recovery Plan, specifying the essential items of information a Recovery Plan is expected to include so as to satisfy CySEC’s requirements. Finally, it gives the overview of different circumstances when an institution shall be considered as failing or likely to fail and outlines how CySEC will review and evaluate the Recovery Plan of the CIF.

This seminar is addressed to the Risk Officers, Compliance Officers, Internal and External Auditors as well as the Members of the Board of Investment Firms as it outlines their responsibilities and gives direction on how to prepare and implement Recovery Plans.


Ilze Petersone

Mrs. Ilze Petersone is certified ACCA, IIA and ACAMS member as well as the member of ICPAC.

Mrs. Petersone has more than 15 years’ practical experience in financial industry, particularly in banking industry, taking such positions as Chief Risk Officer, Chief accountant and Head of Risk department. She has been responsible for risk management framework development, including Recovery plan, ICAAP/ILAAP and capital requirements calculation in accordance with the prudential framework as well as for the prudential reporting and presenting to supervisory authorities. As Chief Risk Officer she has been responsible for implementation of capital requirements, Recovery Plan and ICAAP/ILAAP methodologies in daily management reporting system and risk management framework as well as development of internal politics and procedures for all risk management framework elements since these requirements were introduced in EU.


• Recovery Plan background
• Recovery Plan legal framework and reporting requirements
• Determination of critical functions and Core business lines
• Structure of the Recovery Plan

• Qualitative and quantitative recovery plan indicators
• Recovery plan stress-test scenarios
• Development of Recovery options
• Consideration of failing or likely to fail and CySEC review

What’s included

  • Pre-Recorded Videos

  • Short Quizzes

  • Seminar notes

  • 24/7 access to our online platform

  • Certificate of Completion

Related seminars