the roles and responsibilities of the money laundering ... · the roles and responsibilities of the...
TRANSCRIPT
The Banking and Corporate Finance Training Specialist
The Roles and Responsibilities of
the Money Laundering Reporting
Officer (MLRO) This course is presented in London on:
16 November 2018, 04 April 2019, 12 November 2019
If you have 3 or more participants, it may be cost effective to have this
course presented in-house either on your premises or via live webinar.
Trusted By:
http://redcliffetraining.com [email protected]
+44 (0)20 7387 4484
▪
Course Overview
◼ We have delivered FCC and MLRO training programmes to many leading organisations including the world’s largest trade finance bank where the outsourced training
programme is entering its 6th year and Redcliffe remains the main provider of trainers in both the UK and overseas. We have also delivered extensive MLRO training to small and medium size firms
◼ Based on this Global Bank training programme and our considerable experience of training small and medium sized firms, we are certain we have as much and probably
more experience delivering quality cutting edge FCC & MLRO training as anyone in the market place
◼ We believe this is one of the most up to date on-the-spot courses on offer
◼ Our trainers are all successful and very senior retired executives who are well aware how important the MLRO is to the successful control of FCC
◼ We have developed highly interactive and very enjoyable case studies to enhance the learning points. All delegates report that these are a high point.
◼ We are always judged by our results which speak for themselves and the feedback
received from previous delegates has always been excellent.
The Role of the MLRO - Overview: ◼ Critically important to ensure FCC measures are effective
◼ Implementing and overseeing the CDD process and subsequent transactions ongoing monitoring
◼ Ensuring new regulatory requirements are complied with fully and in a timely fashion
◼ Developing internal and external reporting processes ◼ Keeping records
◼ Establishing, maintaining and overseeing internal controls ◼ The AML/CTF risk assessment
◼ The essential requirement to ensure proper training of staff ◼ Communication of AML/CTF policy and issues within the business
Case Study/Example
The Initial Risk Assessment and Identifying and Evaluating Key Risks ◼ Country risk Assessment ◼ Institution’s risk assessment
◼ Adopting the Risk Based Approach ◼ How the MLRO, Compliance Officer, Chief Risk Officer, Internal Audit and the Board
should co-ordinate ◼ What makes an effective Compliance Officer? ◼ Accountability of the Compliance Officer
◼ Interdependencies with other control functions ◼ Primary, secondary and on-demand compliance
◼ The Compliance Officer’s Activities – and the support required
Case Study/Example
Internal Systems & Policies Including Implementing an Effective Compliance
Framework and a Monitoring Programme ◼ Analysing legal and regulatory rules ◼ Identifying risks
◼ Creating an internal AML/CTF policy ◼ Designing control and procedures
What Makes This Course Different
Course Content
http://redcliffetraining.com [email protected]
+44 (0)20 7387 4484
◼ Generating management information ◼ Creating an effective compliance culture ◼ Monitoring
Case Study/Example
Compliance and Corporate Governance ◼ How does the MLRO contribute to Corporate Governance and help manage risk
◼ Reporting to the Board and Board oversight ◼ Creating an effective reporting/escalation process
◼ Working with all levels of management to ensure training provided is suitable for the business on a risk based basis
◼ Dealing with Regulators
◼ Dealing with the NCA ◼ Submitting regular (minimum annual) MLRO reports to the Board
Case Study/Example
Keeping up with “The Rules” and the ever changing risks surrounding Compliance and Financial Crime Prevention
◼ Issues in Compliance ◼ Issues in Anti-Money Laundering (AML) and Combating Terrorist Financing (CTF)
◼ Issues in Fraud ◼ Issues in Identity Theft ◼ Issues in Phishing
Case Study/Example
Managing the Risk of Money Laundering ◼ Offshore Issues, PEPs and EPs
◼ Know Your Client (KYC) and Identification & Verification (ID&V) ◼ Annual reviews
◼ High risk clients ◼ Monitoring systems ◼ Testing procedures
Case Study/Example
Evaluation of Internal Reports ◼ Disclosure & Escalation
◼ Whistleblowing process ◼ Requesting consent
◼ Reminding staff about tipping off ◼ Escalating to the NCA ◼ Obtaining further information
◼ Identifying the reasons for suspicion ◼ Documenting decisions not to report externally
◼ Submitting/Escalating SAR’s ◼ Policing the process ◼ Reporting past practices which recent reports indicate could now be money laundering
◼ Policing the notice period following an SAR ◼ Policing moratorium periods imposed by the NCA
http://redcliffetraining.com [email protected]
+44 (0)20 7387 4484
Case Study/Example
Other Regulatory Risks ◼ Information Security and Data Protection
◼ Market Abuse and Insider Dealing ◼ Bribery and Corruption
◼ Sanctions ◼ …and other types and Risks in on-shore and off-shore Banking
Case Study/Example
Accounting for People Risks in Risk Management ◼ Understanding the importance of human error in procedures-driven environments
◼ Common human factor problems ◼ Steep authority gradients ◼ Reliance vacuums
◼ Dominant individuals ◼ Identifying and addressing human factor issues
◼ Developing an effective compliance culture
Case Study/Example
Potential Criminal Abuse of Private Banking Services, Trusts and Corporate
Services companies ◼ Offshore companies and corporate services analysed ◼ Offshore trusts and trustee services analysed
◼ The criticality of fiduciary duty ◼ Understanding commercial rationale
◼ AML trust and company vulnerabilities ◼ Examples of abuse
Course Conclusion – Open Forum and Wrap Up
Your course director has spent more than 40 years in the banking and financial sector, much of it in a senior managerial/Director role. He is a former Institute of Banking Lecturer,
having gained distinctions in the exams. He is a subject matter expert on all aspects of retail, corporate and global banking, including risk management and regulatory compliance as well as soft skills.
He has trained extensively at leading global financial institutions and smaller bespoke
specialists, including non- bank financial institutions and legal practices. He has delivered extensive programmes in all parts of the world including the USA, Europe, MENA, Africa and Hong Kong. He is currently an accredited Master Trainer at the world’s biggest global
bank.
Background of the Trainer
http://redcliffetraining.com [email protected]
+44 (0)20 7387 4484
AML and FCC remain an extremely high profile issue for regulators, governments and many key
stakeholders in financial institutions. It is the responsibility of all institutions to make money laundering as difficult as possible. Requirements are detailed and stringent and there is no sign of
any easing of the intensity of regulation in this sector. In fact, most practitioners think it will
continue to become more detailed and more intense.
As far as the creation of AML & FCC policies is concerned, the gatekeeper, controller and where the buck clearly stops, is the MLRO. This is a critically important position within any financial
services firm. When it comes to the identification, detection, escalation, reporting, managing and training of staff on Anti Money Laundering procedures it is the personal responsibility of the MLRO to ensure this all happens as effectively and efficiently as possible. In most jurisdictions it is a
mandatory role.
The MLRO should be a senior manager within the business and have the power to drive policy decisions and actions. He/she should have undergone a sufficient level of training experience and
hold suitable qualifications.
This highly interactive one day workshop is designed to explain fully the roles and responsibilities of an MLRO. It includes a number of interesting case studies based on real life examples which will be used to enhance the learning experience. Delegate participation will be strongly encouraged
and many attendees tell us that the ability to swap “war stories” and compare notes is a very helpful feature. Whether you are the MLRO or part of the team, we can help you understand your
role and to discharge your duties more effectively.
Who Should Attend: MLRO’s and all staff working within a compliance function especially those charged with AML escalations/investigations. Members of the internal audit function. Senior managers and top
management would also derive considerable benefit from attending as they are the ultimate risk owners.
Course Summary
http://redcliffetraining.com [email protected]
+44 (0)20 7387 4484
09:30-17:00
London
Standard Price: £575 +VAT
Membership Price: £460 + VAT
09:30-17:00
London
£625 +VAT (£750)
In-House Training
Delivering this course in-house for 3 or more participants could be very cost effective.
The venue and timing can be agreed to suit the client, as well as the selection of the trainer and the
precise contents of the seminar.
Tailored Learning
All of our training courses can be tailored to suit your company’s exact training needs.
We will work closely with you to help develop a training programme with content that is unique for your organisation.
Please email us on [email protected] for more information
E-Learning
This course can also be presented as a bespoke e-learning programme created by you to fit your exact requirements.