AML Investigations. Understand the Challenge of AML Investigations and How to Meet Them

Transcription

1 AML Investigations Understand the Challenge of AML Investigations and How to Meet Them This in-house course can be presented in-house either on your premises or via live webinar for a group of 3 or more participants. Trusted By: The Banking and Corporate Finance Training Specialist

2 What Makes This Course Different The role of the MLRO includes the need to investigate effectively any escalations produced by the business, transaction monitoring, whistle blowers or regulators This is a skill that has critical elements including the ability to keep an open mind whilst investigating thoroughly and objectively a range of activities that may or may not prove to be money laundering or other types of financial crime We are experts Course on Overview this topic having been appointed as one of the primary suppliers to leading banks on this topic We understand the operational processes required by AML & FCC requirements; the scope of which has been widened by MLR2017 All our trainers are both practitioners and experts in this process and have retired from very senior positions. They will be happy to share their past real-life experiences with delegates which we find significantly adds to the learning experience We know this subject extremely well and whatever your needs refresher or an introduction - we are certain we can help you We are always judged by our results which speak for themselves and the feedback received from previous delegates has always been excellent Course Objectives Appreciate the crucial and pivotal role of the MLRO (SMR 17) in directing, overseeing and completing AML investigations Understand how an effective escalation process works Adopt a risk based approach to investigations Be reminded of the importance of keeping an open mind at all times Understand how investigations should be conducted in practice Be reminded that your colleagues and customers are not the enemy and neither should you be. A degree of friction sometimes, is healthy, too much is not What to look for during an investigation What good practice looks like compared to poor practice Reporting the findings in a balanced and measured way Course Content Session 1: Introduction AML basics - the role of the investigation team Investigations structures Investigation practices STR s and the escalation process Sanctions Tax evasion Bribery & Corruption Other financial crimes Case Study 1, Part 1 see 4 below Session 2: Typical Requirements of the AML Investigation Function Conducting historical transaction reviews in response to regulatory inquiries Supplementing Know Your Customer (KYC) due diligence Performing data and trend analysis

3 Data mapping around transactions and account activities Recovering and extracting forensic data Conducting substantiation checks of investigation procedures and SAR procedures Implementing post-regulatory action requirements Case Study 1, Part 2 See 4 below Session 3: PIOUS Streamlining the Investigation Process What patterns, if any, do you notice in the transaction activity? What is the ultimate source of the funds? What is the ultimate destination of the funds? Are there any unusual transactions? Does the activity rise to the level of suspicious? Putting this together in practice Case Study 2 See 4 below Session 4: Course Wrap Up and Open Forum Case Study Details: Case Study 1: You have been asked by the regulator to investigate the onboarding process and subsequent business activity of a corporate customer who is suspected of money laundering. This has to be completed discreetly as the relationship remains active with regulatory approval. You will be given on-boarding and activity information to investigate and reach conclusions Case Study 2: You will be given a report following an AML investigation involving a personal client. You will be asked to identify what further information is required and what conclusions seem likely. Background of the Trainer 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. He has lectured extensively to both leading global financial institutions and to smaller bespoke specialists. 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. Course Summary Compliance and anti-money laundering (AML) investigators reviewing customer transactions have an important, but often overwhelming, job. Financial professionals tasked with alert resolution, performing periodic reviews on high-risk accounts, and conducting investigations during a look-back transaction analysis consider myriad variables. Increasing budget constraints, deadlines, and volumes of information make it challenging for analysts to address all factors for each investigation. But failure to consider key factors could result in incomplete analyses, regulatory criticism, or other enforcement actions.

4 In the current regulatory landscape, financial institutions are facing a new wave of regulatory scrutiny with no signs of slowing down; in fact, numerous recent government inquiries (especially OFAC) have uncovered anti-money laundering (AML) and sanctions violations at several financial institutions and have resulted in billions of dollars in fines and look-backs for breaches in AML and sanctions programs. All financial institutions can be required to perform extensive reviews of transactions and communicate any suspicious activities to their regulators with accuracy and speed. This course considers the challenge of AML investigations and how to meet them. It is based around two large case studies which will enhance the learning experience. Who Should Attend Risk Managers, Internal Auditors, Compliance Officers, External Auditors, Consultants and suppliers and all financial personnel involved with the risk and compliance function. Knowledge Pre-Requisites Some knowledge of AML processes and investigations would be helpful.

5 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 us on enquiries@redcliffetraining.co.uk 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.