Duration: 3 Hours
Location: City of London
Upcoming Dates: 17 Sep 2019 , 12 Nov 2019
So often, MLROs are so busy ensuring that everyone else in their firm receives the AML training, that the need to keep up to date as the MLRO gets overlooked.To assist you with this, CCL have developed a half-day workshop which looks at the current areas of interest to AML...
So often, MLROs are so busy ensuring that everyone else in their firm receives the AML training, that the need to keep up to date as the MLRO gets overlooked.
To assist you with this, CCL have developed a half-day workshop which looks at the current areas of interest to AML regulators, enhanced with case histories and studies.
Specific themes addressed in the course include:
- Challenges arising from the split of responsibilities between the firm’s senior management (in particular the designated Senior Manager in regulated firms) and the MLRO
- Issues arising from the firm’s ML risk assessment and the ongoing maintenance of it
- Practical updates from managing the firm’s SAR arrangements
- Training and awareness, contrasting retail and wholesale markets’ practical needs
- Management information, including the regulatory requirement for an annual report to senior management
- Regulators’ current areas of interest
This is intended to be an interactive course to which participants can bring their own current issues and challenges to add to the current themes identified above. Participation provides an opportunity to find pragmatic solutions to current challenges, born of the experience of others, thus leading to resolutions that can be considered to reflect current market practice.
Who is this for?
The course is aimed at MLROs, Deputies and Assistant MLROs.
It may well prove to be of benefit and interest to others in regulated firms, including Chief Executive Officers, Internal Auditors, Compliance Officers and those proactively involved in reviewing or relying on the effectiveness of the MLRO.
- The statutory and regulatory origins of the Nominated Officer’s/MLRO’s responsibilities and the parallel responsibilities of senior management - identifying and addressing issues arising from the ‘fit’ between the MLRO and senior management
- Explores the current expectations of the FCA and other regulators
- Identifies and considers any matters arising from using the Guidance issued by the Joint Money Laundering Steering Group (JMLSG) and other regulatory authorities for AML purposes
- Reviews the working of the risk-based approach, focusing on issues encountered producing a risk based AML assessment of a firm’s business and the development therefrom of the firm’s systems, procedures and controls for AML/CTF purposes
- Revisits the structural regime required to be put in place to meet and support suspicion reporting obligations within the firm and interfacing with external authorities, with special reference to the ‘consent’ regime
- Compares the uses and limitations of the annual report required by regulatory Rules to be delivered from the MLRO to senior management
- Addresses the role of AML training in being able to demonstrate competences of senior managers and Approved Persons to the regulator
- Uses case histories and examples and accommodates delegates own issues to work towards pragmatic solutions that can reflect good market practice
- Evidence a continuing level of competence
- Appreciate the continuing high profile nature of the MLRO role and the approach of their firm’s AML regulator to their supervisory responsibilities
- Be aware of the importance of practical issues arising from applying relevant industry guidance and, particularly, of any guidance carrying approved status
- Give practical assistance in the creation of the firm’s ML risk assessment and the development therefrom of risk based CDD arrangements and other systems, procedures and controls for AML/CTF
- Recognise the wider issues and challenges relating to the firm’s AML training regime
- Benchmark against other firms’ practical experience of matters arising from their own firm’s day-to-day management of its AML/CTF regime, including its monitoring arrangements and with particular reference to enhanced CDD and monitoring obligation