AML/CFT: Taking Client Responsibility
With research* estimating that 70% of all laundered criminal money passes through the financial sector it is vital for banks to manage this exposure prudently. The exposure manifests itself through the institution’s interaction with its customers, so managing this relationship carefully is very important. Most banks have adopted a ‘3 lines of defence’ model to manage the associated AML/CFT risks. Implementing this model and understanding the exact roles and responsibilities of each line can be a challenge. Using the highly regarded i-KYC training methodology can help organisations to effectively train staff about their correct understanding of their responsibility in mitigating AML/CFT risks.
Course Objectives
At the end of the training, participants will be able to:
- Take responsibility for their role in the “3 Lines of Defence”
- Know when to consult with, and what to expect from colleagues in AML/CFT Compliance
- Confidently discuss the bank’s AML/CFT policy and related documentary requirements with the bank’s clients
- Address clients’ AML queries in accordance with the bank’s policy
- Assess the client information received for completeness and correctness
- Formulate a motivated client AML risk profile proposal
- Confidently follow up with the bank’s clients in case of remedial or additional information requirements
- Actively monitor clients’ financial behaviour, recognise AML red flags
- Know when and how to escalate incidents in accordance with the bank’s procedures
Course Content
- Brief reminder of AML/CFT
- Absolute and relative size of problem
- Challenges for banks
- Implications for banks
- Three lines of defence model
- Assessing client risk profile
- Implications of monitoring client behaviour through lifecycle
- Escalation to Compliance for advice, when and how
- Knowledge Check
LMS platform & services
i-KYC’s e-learning courses are produced applying the industry standard SCORM 1.2 programming protocol. You may choose to have them delivered to you electronically, ready for uploading to your hosting platform. In case you need a hosting platform or wish to reduce the burden on your HR and IT organisations, i-KYC can support you in the roll-out with our low cost, state-of-the-art Learning Management Solution.
i-KYC offers a comprehensive cloud-based Learning Management Platform with the following essential features:
- Exclusive LMS Platform with own ‘Look & Feel’
- LMS administration and support services
- Hosting of multiple e-learnings (including 3rd party providers)
- Administer other training methods (e.g. classroom training, assessments)
- Scalability, flexibility and operational efficiency
- Monitoring and analytical capabilities
Benefits of the LMS Services
Rapid and no-hassle deployment of your complete learning programme using a dedicated single point of contact.
Create your exclusive Learning Management Platform with company logos and own Look & Feel.
Combine multiple courses in logical groupings to create personalized learning paths for your valued learners to engage.
Add content from various learning service providers (provided courses are SCORM compatible).
Review performance and gain insight into training impact with reports and dashboards, or create custom reports delivered via email.
Instant evidence to internal and external stakeholders of compliance with training-related regulatory obligations.
Special: Audit reporting package for
Management, Local Regulators and Correspondent Bank relations:
- Evidence of course completion of users including Knowledge Check scores & time stamp
- Document with e-learning content (slides) plus list of questions of the knowledge checks
i-KYC’s LMS administration and support services include:
- administration of unique user accounts
- grouping by Teams/Departments;
uploading and installation of e-learning programmes - roll out of e-learning courses to the target group (invitation to attend)
- administration of classroom trainings
- data collection and progress monitoring
- due date follow-up
- periodic management reporting
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