AML Risk Assessment & Policies Compliance Workshop

Introduction

If you were to get a visit from your regulator tomorrow would your AML risk assessments, policies and procedures be compliant, or are you still struggling to get everything in order? If so, then this is the course for you!

Alongside the firmwide risk assessment, and the AML policies and procedures which must be completed in line with it, we are also required to have client/matter risk assessments for each client and matter that we open.

This is a lot of documentation to have in place, up to date and compliant.

During this seminar we will look to bring our risk assessments, policies, and procedures to life.

Starting with the firmwide risk assessment, expert speaker Jo Morris will consider what format to use, what and how much information should be in it.

Consideration will then be given to client and matter risk assessments - what are the requirements, how to make them effective.

Finally, the session will finish with a discussion of AML policy and procedures - how to set out the policy and what it should contain.

This will be a very interactive session, so bring along your own risk assessments and policies and let Jo bring them to life with quizzes and practical examples.

What You Will Learn

This course will cover the following:

• The importance of having the correct documentation in place
• What the regulators say
• Firmwide risk assessment:
• Regulation 18 of the MLR2017 - legal requirement
• The National Risk Assessment (NRA) and the Sectoral Risk Assessments - things to consider
• Planning the firmwide risk assessment:
• Do I want to use a template?
• What questions do I need to ask?
• Who else needs to be involved in preparing the risk assessment?
• Where can I get my information from?
• What resources can I use to help with putting the risk assessment together - sector specific guidance?
• Living document - how often do I need to review and update?
• Client/matter risk assessment:
• What needs to be considered when putting together a client and matter risk assessment - client, location, PEP, source of wealth and source of funds
• Templates? - advantages and disadvantages
• What does the relevant guidance say?
• Relevant questions to ask to determine risk - not just a tick box exercise
• Difference between a person and entity client and matter risk assessment
• Ongoing monitoring of risk
• Additional information that can be included on these risk assessments
• Policies and procedures:
• What should be in a policy and what should be in a procedure
• Key points to include in the policy
• Templates - yes or no?
• Everything up to date?
• When the regulator asks to see your documentation
• Summary and conclusion