The West African Center for Banking Studies and Training (COFEB), in partnership with Luxembourg’s financial technology transfer agency (ATTF), organized a high-level seminar on Banking Governance and the Audit Committee, which took place over two separate sessions on November 19-22 and November 25-28, 2024.

The sessions, designed for members of governance bodies (boards of directors, managing directors, provisional administrators, and liquidators) and audit managers and controllers (internal audit, compliance, risk management) in credit institutions, were attended by 32 participants.
Facilitated by Yves Deceuninck, an expert from ATTF, the seminar aimed to provide a platform for exchanges among seasoned practitioners of banking governance within WAEMU and address key topics such as:

• Governance frameworks: Roles and responsibilities of governing bodies, control functions, and specialized committees (audit, risk, compliance, etc.).
• Emerging challenges: The utilization of artificial intelligence (AI) and consideration of environmental, social, and governance (ESG) criteria.
• Management tools: An introduction to COSO, COBIT, and RACI for effective management and governance.

The seminar also included practical sessions on governance in times of crisis and the integration of artificial intelligence (AI) and Environmental, Social and Gouvernance (ESG) ESG criteria into governance frameworks.
During the opening ceremonies, Mahaman Tahir Hamani, General Manager of COFEB, emphasized the importance of quality governance for the sustainability of the banking sector and applauded the partnership with ATTF.
The participants praised the relevance of the topics covered and highlighted the quality of the discussions, which were enriched by the diversity of the participants. They were particularly appreciative of the framework provided for a better understanding of regulatory instruments and current issues.
The closing session was marked by a call to enhance synergy between governance bodies and control functions, with a view to responding more effectively to the challenges posed by financial innovation and regulatory requirements.