PFS curriculum
In Luxembourg's dynamic and highly regulated financial landscape, staying ahead of evolving requirements is a strategic advantage. PwC Academy, in close collaboration with PwC's subject matter experts, has designed comprehensive training curriculums for the Professionals of the Financial Sector (PFS) - Investment firms and for Specialised PFS, to address their multifaceted challenges and opportunities.
Our two programmes combine expert-led modules and digital training solutions for an optimal learning experience, covering with our respective experts market trends, latest regulatory developments, and operational best practices. Participants will gain actionable insights and practical knowledge in key areas critical to their business success.
Whether you are part of the governance bodies or acting in the first or second line of defence, these curriculums provide the tools and knowledge to enhance your firm’s market & regulatory readiness and operational excellence.
To address your specific questions and training requirements within the PFS industry, our curriculums are organised by subject area. They feature a suite of modules applicable across all PFS, alongside specialised modules exclusive to either Investment firms or Specialised PFS.
PFS - Investment firms flyer
Specialised PFS flyer
46 complementary building blocks
Please select the subject areas and click on the links to access further details about the content of each building block or to register for a session (subject to the clearance of independence requirements).
- Market products
- ESG
- Anti-financial crime
- TAX (FATCA/CRS, DAC)
- Operational risks
- Cybersecurity & data protection
- Outsourcing & IT regulation (incl.DORA)
Market products
Live format
- Investment funds - Introduction and market data (1h) Investment funds is one of the major industries in Luxembourg. With this training we propose to make a first step into the funds world by detailing some key concepts that can be developed further in other more specific training modules.
ESG
Live format
- Sustainable finance (4h) - This training focuses on the implications of sustainable finance, particularly SFDR, on risk management for financial institutions.
- ESG and sustainable finance for Board members and conducting officers (2h30) - This course is designed specifically for board members and conducting officers to help them understand the role of Environmental, Social, and Governance (ESG) factors, as well as sustainable finance principles, in strategic decision-making.
- Sustainable finance: impact on risk management (2h30) - This course aims to address how ESG factors, climate change, and broader sustainability considerations reshape the risk landscape, affecting both operational and strategic decision-making processes.
- The data challenge and technological impact of ESG (3h) - This training addresses the complexities and challenges of managing data within the context of ESG reporting.
Anti-financial crime
Digital format
- AML - Follow the money (e-learning) (1h) - This course aims to address how ESG factors, climate change, and broader sustainability considerations reshape the risk landscape, affecting both operational and strategic decision-making processes.
- AML/CTF blended training for boards of directors (investment funds and IFMs) (75min + 30min) - This programme is made of a digital session and a subsequent live session delivered by our most seasoned AML experts.
Live format
- International sanctions and screening (1h) – This module helps participants understand key aspects of transaction monitoring, AML risk coverage requirements, financial crime risk indicators, and regulatory reporting expectations.
- Transactions monitoring (1h) – This module helps participants understand key aspects of transaction monitoring, AML risk coverage requirements, financial crime risk indicators, and regulatory reporting expectations.
- Going beyond AML: fraud, corruption and whistleblowing (2h) – This module teaches participants about predicate offences for money laundering to help protect their organisation from financial loss, penalties, and reputational risk.
TAX (FATCA/CRS, DAC)
Digital format
- DAC6 (e-learning) (1h30) – This digital training covers the technical and operational DAC6 elements supported by real-life examples and concluded by a final quiz.
Live format
- Automatic exchange of information (FATCA and CRS) for 1st line of defence - Basic principles (3h) - This module will provide participants with FATCA and CRS rules, their synergies and differences, and will give an overview of fund statuses, reporting requirements, efficient operating models and related risks.
- FATCA/CRS for the 2nd line of defence: entities classification, due diligence and reporting obligations (3h) This training will offer participants insights into recent regulatory updates, Luxembourg tax authority controls, and will cover FATCA/CRS classifications for funds and investment structures.
- Tax aspects of investors onboarding: DAC6 to DAC8, FATCA/CRS and AML (2h) - This training helps participants navigate through the interactions between DAC6/DAC8, AML, withholding tax and FATCA/CRS, identify the associated risks and streamline the tax compliance documentation.
Operational risks
Digital format
- Operational risk essentials (e-learning) (1h) - This digital learning helps understand the components of an operational risk framework, identify and assess key organisational risks, and develop a risk and control self-assessment matrix.
- Crisis management (45 minutes) - This training will provide professionals with the mindset and approach needed to anticipate, prepare for, and respond effectively to crises.
Cybersecurity & data protection
Digital format
- Cybersecurity (e-learning) (1h) - This digital learning program introduces different types of cyber threats, provides participants with strategies to help prevent cyber-attacks, and outlines recommended practices for the workplace.
- GDPR essentials (e-learning) (1h) – This digital module offers an overview of the GDPR regulation, covering key points to support compliance.
- GDPR advanced (e-learning) (1h30) - This digital course ensures that your organisation gains advanced knowledge, enabling compliance with the regulation's requirements.
Live format
- ICT awareness Executive Training Programme - Cybersecurity and risks (3h) - This module empowers participants with a comprehensive framework, vocabulary, and understanding of cyber risks. It instils the confidence needed to take a leadership role in cybersecurity initiatives.
Outsourcing & IT regulation (incl.DORA)
Live format
- IT regulation and IT outsourcing in Luxembourg - What you need to know (4h) - This module provides an introduction to the main IT regulatory requirements applicable to CSSF supervised entities.
- ICT awareness Executive Training Programme - IT regulatory update (3h) - This module offers a high-level overview of key ICT regulations, encompassing their evolution, recent developments, and new regulations like the AI Act.
- Digital Operational Resilience Act (DORA) - Introduction (2h) - This module provides an overview of the main provisions and the differences from the existing Information and Communication Technologies (ICT) regulatory framework.
- DORA - How to manage your third-party service providers? (3h) - This training covers the requirements for third-party services management and outlines considerations when starting new service contracts.
Please select the subject areas and click on the links to access further details about the content of each building block or to register for a session (subject to the clearance of independence requirements).
- Internal governance
- Market products
- Operational risks
- Business specific requirements
Internal governance
Live format
- Directors roles and responsibilities in Luxembourg (3h) - This module aims to provide a clear, practical understanding of the roles, duties and liabilities applicable to directors in the Luxembourg financial and corporate landscape.
- Presentation of the Luxembourg regulatory framework applicable to Specialised PFS (3h) - This training offers an overview of the Luxembourg regulatory framework relevant to support and specialised PFS, covering the principal obligations and rules that apply to these entities.
Market products
Live format
- Introduction to securitisation (3h) – This module covers the full value chain of the securitisation business and outlines its opportunities and challenges within a European context.
- ELTIFs 2.0: legal and operational perspectives (2h) - This training is designed to provide professionals with a comprehensive overview on the ELTIF updated regime.
- Alternative assets valuation curriculum - This training curriculum helps participants understand the challenges associated with the fair valuation assessment of alternative investments/assets.
Operational risks
Live format
- Operational risks in fund accounting (1h30) – This training aims at helping participants understand and monitor the different risks inherent to the FA operations and processes.
- Operational risks in TA (1h30) - This training aims at helping participants understand and monitor the different risks inherent to the transfer agent operations and processes.
Business specific requirements
Live format
- Depositary requirements for AIF accounting (2h) - This course aims to answer the questions depositaries face concerning their mandatory professional duties and the ongoing evolution of AIF regulations.
- Focus on the CSSF circular 22/811 requirements for Luxembourg fund administrators (2h) – This module helps understand the principles and requirements of the CSSF circular 22/811 on Luxembourg fund administrators.
- Duties and formalism in TA standard operations for AIFs (3h30) - This module helps participants understand and perform their transfer agent tasks and responsibilities efficiently, in line with the Luxembourg alternative funds market practices.
- Transfer Agent curriculum - This multilayer training programme is intended for both junior and experienced transfer agency staff, as well as managers and executives, who seek to develop their skills or stay informed about future industry trends.
- Regulatory reporting - UCITS and AIFs (2h) - This course provides an overview of the main regulatory reporting requirements and outlines the differences in reporting obligations based on fund type and investor profile.
- Investor tax reporting - UCITs and AIFs (2h) - This course provides an overview of key investor tax requirements, helps identify registration and reporting needs based on distribution strategy.
- Fund accounting curriculum - This multilayer training program is intended for both junior and experienced fund accounting staffs and managers, who seek to develop their skills or stay informed about future funds industry (UCITS or AIFs) trends.
Please select the subject areas and click on the links to access further details about the content of each building block or to register for a session (subject to the clearance of independence requirements).
- Financial markets
- MiFID II
- Internal governance/Capital requirements
Financial markets
Live format
- Investment funds - Distribution platforms (1h) - With this training, participants will learn about the fund distribution market and the role of distribution platforms.
MiFID II
Digital format
- MiFID II certification (e-learning) (62h) - This digital learning solution is structured around 5 thematic pillars for professionals giving investment advice or giving information about investment products, investment services or ancillary services. Depending on the professional population considered, each pillar comprises a set of digital tutorials related to the knowledge and competence criteria.
- MiFID II digital assessment (1h) – This e-learning supports the annual assessment of general Knowledge & Competence around MiFID II requirements in the context of the CSSF circular 17/665.
- MiFID/MIFIR key requirements (e-learning) (1h) – This e-learning supports the regular update of general Knowledge & Competence around MiFID II requirements.
Internal governance/Capital requirements
Live format
- Investment firms' internal governance under CSSF circular 20/758 (2h) - This module will help understand the roles and responsibilities of the board and authorised management, including obligations under CSSF circular 20/758, the functions of key governance bodies and internal controls, and the main regulatory changes introduced by the circular.
- Investment firms - Introduction into the prudential framework under IFR/IFD (1h30) - This module will help understand key internal governance requirements for PFS, including the roles of the management body and authorised managers, the suitability assessments of key individuals, CSSF expectations for sound management, stakeholder interactions, and internal reporting mechanisms.
- Market abuse regulation (1h) - This module describes the core principles of the Market Abuse Regulation (MAR), and helps understand its rules, risks, and sanctions.
- Remuneration policy for investment firms (1h) This course provides an in-depth understanding of remuneration governance requirements applicable to PFS in Luxembourg under CSSF Circular 10/437 and related regulatory standards.
Live training courses can also be tailored on demand giving the nature of your services offering (subject to the clearance of independence requirements).
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